Het Verschil: 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.
Het Verschil
Largest movements
- Cash -€11,999
down €11,999 (-85.8%), from €13,982 to €1,983
mainly Net result for the year (-€17,771) and Other debts (-€4,168)
- Tangible fixed assets -€4,024
down €4,024 (-6.1%), from €66,445 to €62,420
of which Land and buildings: -€2,166
- Profit (loss) carried forward -€15,308
down €15,308, from €0 to -€15,308
- Tax, wage and social debts +€5,756
up €5,756 (+37.3%), from €15,445 to €21,201
of which Remuneration and social security: +€5,774
- Other debts -€4,168
down €4,168 (-10.3%), from €40,287 to €36,118
- Short-term financial debts +€2,599
new in 2025: €2,599
- Reserves -€2,464
down €2,464 (-21.0%), from €11,717 to €9,253
- Gross operating margin -€46,952
down €46,952 (-52.5%), from €89,449 to €42,497
- Staff costs -€5,006
down €5,006 (-9.3%), from €53,675 to €48,669
- Financial charges -€3,466
down €3,466 (-44.6%), from €7,778 to €4,311
- Taxes -€3,367
down €3,367 (-92.3%), from €3,649 to €282
- Other operating charges +€995
up €995 (+40.7%), from €2,448 to €3,444
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 | €86,778 | €70,603 | -€16,174 | -18.6% |
| Fixed assets | 21/28 | €67,825 | €63,800 | -€4,024 | -5.9% |
| Tangible fixed assets | 22/27 | €66,445 | €62,420 | -€4,024 | -6.1% |
| Land and buildings | 22 | €60,972 | €58,806 | -€2,166 | -3.6% |
| Plant, machinery and equipment | 23 | €2,521 | €1,747 | -€774 | -30.7% |
| Furniture and vehicles | 24 | €2,053 | €1,568 | -€485 | -23.6% |
| Other tangible fixed assets | 26 | €899 | €299 | -€600 | -66.7% |
| Financial fixed assets | 28 | €1,380 | €1,380 | = | 0.0% |
| Current assets | 29/58 | €18,953 | €6,803 | -€12,150 | -64.1% |
| Stocks and contracts in progress | 3 | €4,054 | €4,169 | +€116 | +2.8% |
| Stocks | 30/36 | €4,054 | €4,169 | +€116 | +2.8% |
| Amounts receivable within one year | 40/41 | €727 | €451 | -€276 | -38.0% |
| Trade receivables | 40 | €10 | €0 | -€10 | -100.0% |
| Other amounts receivable | 41 | €717 | €451 | -€266 | -37.2% |
| Cash at bank and in hand | 54/58 | €13,982 | €1,983 | -€11,999 | -85.8% |
| Deferred charges and accrued income | 490/1 | €190 | €200 | +€10 | +5.3% |
| Total equity and liabilities | 10/49 | €86,778 | €70,603 | -€16,174 | -18.6% |
| Equity | 10/15 | €17,917 | €146 | -€17,771 | -99.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,717 | €9,253 | -€2,464 | -21.0% |
| Distributable reserves | 133 | €11,717 | €9,253 | -€2,464 | -21.0% |
| Profit (loss) carried forward | 14 | €0 | -€15,308 | -€15,308 | |
| Amounts payable | 17/49 | €68,860 | €70,457 | +€1,597 | +2.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €65,206 | €67,673 | +€2,467 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €2,599 | +€2,599 | |
| Credit institutions | 430/8 | - | €2,599 | +€2,599 | |
| Trade debts | 44 | €9,474 | €7,755 | -€1,719 | -18.1% |
| Suppliers | 440/4 | €9,474 | €7,755 | -€1,719 | -18.1% |
| Taxes, remuneration and social security | 45 | €15,445 | €21,201 | +€5,756 | +37.3% |
| Taxes | 450/3 | €4,555 | €4,536 | -€18 | -0.4% |
| Remuneration and social security | 454/9 | €10,890 | €16,664 | +€5,774 | +53.0% |
| Other amounts payable | 47/48 | €40,287 | €36,118 | -€4,168 | -10.3% |
| Accrued charges and deferred income | 492/3 | €3,654 | €2,784 | -€870 | -23.8% |
| Non-recurring operating income | 76A | €32,906 | €0 | -€32,906 | -100.0% |
| Remuneration, social security and pensions | 62 | €53,675 | €48,669 | -€5,006 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,794 | €4,024 | +€230 | +6.1% |
| Other operating charges | 640/8 | €2,448 | €3,444 | +€995 | +40.7% |
| Gross operating margin | 9900 | €89,449 | €42,497 | -€46,952 | -52.5% |
| Operating profit (loss) | 9901 | €29,531 | -€13,640 | -€43,171 | |
| Financial income | 75/76B | €570 | €462 | -€109 | -19.1% |
| Recurring financial income | 75 | €570 | €462 | -€109 | -19.1% |
| Financial charges | 65/66B | €7,778 | €4,311 | -€3,466 | -44.6% |
| Recurring financial charges | 65 | €7,778 | €4,311 | -€3,466 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €22,324 | -€17,489 | -€39,813 | |
| Income taxes | 67/77 | €3,649 | €282 | -€3,367 | -92.3% |
| Profit (loss) for the period | 9904 | €18,675 | -€17,771 | -€36,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,675 | -€17,771 | -€36,446 |
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.