GUIDANCE FOR CHANGE: 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.
GUIDANCE FOR CHANGE
Largest movements
- Cash -€32,495
down €32,495 (-90.0%), from €36,097 to €3,601
mainly Net result for the year (-€22,067) and Debts after one year (-€9,110)
- Tangible fixed assets -€6,849
down €6,849 (-28.5%), from €24,017 to €17,168
- Deferred charges and accrued income -€1,568
down €1,568 (-68.0%), from €2,305 to €737
- Receivables within one year +€671
new in 2025: €671
- Profit (loss) carried forward -€22,067
down €22,067 (-67.2%), from €32,862 to €10,794
- Debts after one year -€9,110
no longer reported in 2025 (was €9,110)
- Tax, wage and social debts -€6,524
down €6,524 (-92.3%), from €7,068 to €543
- Current portion of long-term debt -€4,033
down €4,033 (-30.7%), from €13,143 to €9,110
- Trade debts +€1,177
up €1,177 (+198%), from €595 to €1,772
- Gross operating margin -€62,978
down €62,978, from €49,507 to -€13,471
- Taxes -€11,543
no longer reported in 2025 (was €11,543)
- Depreciation +€3,598
up €3,598 (+101%), from €3,567 to €7,166
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.
Derived cash bridge
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 | €62,894 | €22,336 | -€40,558 | -64.5% |
| Formation expenses | 20 | €475 | €158 | -€317 | -66.7% |
| Fixed assets | 21/28 | €24,017 | €17,168 | -€6,849 | -28.5% |
| Tangible fixed assets | 22/27 | €24,017 | €17,168 | -€6,849 | -28.5% |
| Furniture and vehicles | 24 | €24,017 | €17,168 | -€6,849 | -28.5% |
| Current assets | 29/58 | €38,402 | €5,009 | -€33,392 | -87.0% |
| Amounts receivable within one year | 40/41 | - | €671 | +€671 | |
| Other amounts receivable | 41 | - | €671 | +€671 | |
| Cash at bank and in hand | 54/58 | €36,097 | €3,601 | -€32,495 | -90.0% |
| Deferred charges and accrued income | 490/1 | €2,305 | €737 | -€1,568 | -68.0% |
| Total equity and liabilities | 10/49 | €62,894 | €22,336 | -€40,558 | -64.5% |
| Equity | 10/15 | €32,962 | €10,894 | -€22,067 | -66.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,862 | €10,794 | -€22,067 | -67.2% |
| Amounts payable | 17/49 | €29,932 | €11,442 | -€18,491 | -61.8% |
| Amounts payable after more than one year | 17 | €9,110 | - | -€9,110 | |
| Financial debts | 170/4 | €9,110 | - | -€9,110 | |
| Amounts payable within one year | 42/48 | €20,822 | €11,442 | -€9,380 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €13,143 | €9,110 | -€4,033 | -30.7% |
| Trade debts | 44 | €595 | €1,772 | +€1,177 | +198% |
| Suppliers | 440/4 | €595 | €1,772 | +€1,177 | +198% |
| Taxes, remuneration and social security | 45 | €7,068 | €543 | -€6,524 | -92.3% |
| Taxes | 450/3 | €7,068 | €543 | -€6,524 | -92.3% |
| Other amounts payable | 47/48 | €16 | €16 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,567 | €7,166 | +€3,598 | +101% |
| Other operating charges | 640/8 | €772 | €577 | -€195 | -25.3% |
| Gross operating margin | 9900 | €49,507 | -€13,471 | -€62,978 | |
| Operating profit (loss) | 9901 | €45,168 | -€21,213 | -€66,381 | |
| Financial charges | 65/66B | €763 | €854 | +€91 | +11.9% |
| Recurring financial charges | 65 | €763 | €854 | +€91 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €44,405 | -€22,067 | -€66,472 | |
| Income taxes | 67/77 | €11,543 | - | -€11,543 | |
| Profit (loss) for the period | 9904 | €32,862 | -€22,067 | -€54,929 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,862 | -€22,067 | -€54,929 |
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 20 October 2026 via checked.be.