Group WHY: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Group WHY
Largest movements
- Receivables within one year -€82,128
down €82,128 (-70.2%), from €116,958 to €34,829
of which Trade receivables: -€81,462
- Cash +€16,580
up €16,580 (+362.5%), from €4,574 to €21,154
mainly Receivables within one year (+€82,128) and Tax, wage and social debts (+€2,722)
- Trade debts -€36,299
down €36,299 (-49.4%), from €73,458 to €37,159
- Profit (loss) carried forward -€31,973
new in 2025: -€31,973
- Tax, wage and social debts +€2,722
up €2,722 (+23.2%), from €11,715 to €14,437
- Gross operating margin -€55,914
down €55,914, from €44,557 to -€11,358
- Taxes -€8,748
no longer reported in 2025 (was €8,748)
- Staff costs +€6,945
up €6,945 (+54.9%), from €12,641 to €19,587
- Financial charges +€468
up €468 (+1133.3%), from €41 to €509
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €123,102 | €57,506 | -€65,596 | -53.3% |
| Current assets | 29/58 | €123,102 | €57,506 | -€65,596 | -53.3% |
| Amounts receivable within one year | 40/41 | €116,958 | €34,829 | -€82,128 | -70.2% |
| Trade receivables | 40 | €116,291 | €34,829 | -€81,462 | -70.0% |
| Other amounts receivable | 41 | €667 | - | -€667 | |
| Cash at bank and in hand | 54/58 | €4,574 | €21,154 | +€16,580 | +362.5% |
| Deferred charges and accrued income | 490/1 | €1,571 | €1,523 | -€47 | -3.0% |
| Total equity and liabilities | 10/49 | €123,102 | €57,506 | -€65,596 | -53.3% |
| Equity | 10/15 | €27,754 | -€4,218 | -€31,973 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €22,754 | €22,754 | = | 0.0% |
| Distributable reserves | 133 | €22,754 | €22,754 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€31,973 | -€31,973 | |
| Amounts payable | 17/49 | €95,348 | €61,725 | -€33,624 | -35.3% |
| Amounts payable within one year | 42/48 | €95,348 | €61,725 | -€33,624 | -35.3% |
| Financial debts | 43 | €47 | - | -€47 | |
| Other loans | 439 | €47 | - | -€47 | |
| Trade debts | 44 | €73,458 | €37,159 | -€36,299 | -49.4% |
| Suppliers | 440/4 | €73,458 | €37,159 | -€36,299 | -49.4% |
| Taxes, remuneration and social security | 45 | €11,715 | €14,437 | +€2,722 | +23.2% |
| Taxes | 450/3 | €11,715 | €14,437 | +€2,722 | +23.2% |
| Other amounts payable | 47/48 | €10,128 | €10,128 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €12,641 | €19,587 | +€6,945 | +54.9% |
| Other operating charges | 640/8 | €387 | €520 | +€132 | +34.2% |
| Gross operating margin | 9900 | €44,557 | -€11,358 | -€55,914 | |
| Operating profit (loss) | 9901 | €31,528 | -€31,464 | -€62,992 | |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €41 | €509 | +€468 | +1133.3% |
| Recurring financial charges | 65 | €41 | €509 | +€468 | +1133.3% |
| Profit (loss) for the period before taxes | 9903 | €31,502 | -€31,973 | -€63,475 | |
| Income taxes | 67/77 | €8,748 | - | -€8,748 | |
| Profit (loss) for the period | 9904 | €22,754 | -€31,973 | -€54,727 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,754 | -€31,973 | -€54,727 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.