I.C.: what changed
Two fiscal 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.
I.C.
Largest movements
- Tangible fixed assets +€23,275
up €23,275 (+157.9%), from €14,743 to €38,019
of which Furniture and vehicles: +€21,059
- Cash -€2,491
down €2,491 (-93.8%), from €2,655 to €164
mainly Investment in fixed assets (net) (-€24,459) and Tax, wage and social debts (-€1,323)
- Stocks and contracts -€1,114
down €1,114 (-29.0%), from €3,843 to €2,729
- Other debts +€18,499
up €18,499 (+140.2%), from €13,198 to €31,697
- Tax, wage and social debts -€1,323
down €1,323 (-57.7%), from €2,292 to €970
- Current portion of long-term debt +€1,311
new in 2025: €1,311
- Trade debts +€1,103
up €1,103 (+294.0%), from €375 to €1,477
- Gross operating margin -€8,191
down €8,191 (-60.9%), from €13,443 to €5,251
- Depreciation -€3,815
down €3,815 (-76.3%), from €4,999 to €1,184
- Financial charges +€947
up €947 (+288.1%), from €329 to €1,275
- Other operating charges +€529
up €529 (+43.4%), from €1,218 to €1,747
- Taxes +€177
up €177 (+116.8%), from €152 to €329
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 | €21,241 | €41,210 | +€19,969 | +94.0% |
| Fixed assets | 21/28 | €14,743 | €38,019 | +€23,275 | +157.9% |
| Tangible fixed assets | 22/27 | €14,743 | €38,019 | +€23,275 | +157.9% |
| Plant, machinery and equipment | 23 | €738 | €554 | -€184 | -24.9% |
| Furniture and vehicles | 24 | €5,182 | €26,241 | +€21,059 | +406.4% |
| Other tangible fixed assets | 26 | €8,824 | €11,224 | +€2,400 | +27.2% |
| Current assets | 29/58 | €6,497 | €3,191 | -€3,306 | -50.9% |
| Stocks and contracts in progress | 3 | €3,843 | €2,729 | -€1,114 | -29.0% |
| Stocks | 30/36 | €3,843 | €2,729 | -€1,114 | -29.0% |
| Amounts receivable within one year | 40/41 | - | €298 | +€298 | |
| Trade receivables | 40 | - | €298 | +€298 | |
| Cash at bank and in hand | 54/58 | €2,655 | €164 | -€2,491 | -93.8% |
| Total equity and liabilities | 10/49 | €21,241 | €41,210 | +€19,969 | +94.0% |
| Equity | 10/15 | €5,375 | €5,754 | +€379 | +7.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,217 | -€12,838 | +€379 | +2.9% |
| Amounts payable | 17/49 | €15,866 | €35,456 | +€19,590 | +123.5% |
| Amounts payable within one year | 42/48 | €15,866 | €35,456 | +€19,590 | +123.5% |
| Current portion of amounts payable after more than one year | 42 | - | €1,311 | +€1,311 | |
| Trade debts | 44 | €375 | €1,477 | +€1,103 | +294.0% |
| Suppliers | 440/4 | €375 | €1,477 | +€1,103 | +294.0% |
| Taxes, remuneration and social security | 45 | €2,292 | €970 | -€1,323 | -57.7% |
| Taxes | 450/3 | €2,292 | €970 | -€1,323 | -57.7% |
| Other amounts payable | 47/48 | €13,198 | €31,697 | +€18,499 | +140.2% |
| Non-recurring operating income | 76A | - | €67 | +€67 | |
| Remuneration, social security and pensions | 62 | €478 | €340 | -€137 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,999 | €1,184 | -€3,815 | -76.3% |
| Other operating charges | 640/8 | €1,218 | €1,747 | +€529 | +43.4% |
| Gross operating margin | 9900 | €13,443 | €5,251 | -€8,191 | -60.9% |
| Operating profit (loss) | 9901 | €6,748 | €1,980 | -€4,768 | -70.7% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €329 | €1,275 | +€947 | +288.1% |
| Recurring financial charges | 65 | €329 | €1,275 | +€947 | +288.1% |
| Profit (loss) for the period before taxes | 9903 | €6,419 | €708 | -€5,712 | -89.0% |
| Income taxes | 67/77 | €152 | €329 | +€177 | +116.8% |
| Profit (loss) for the period | 9904 | €6,268 | €379 | -€5,889 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,268 | €379 | -€5,889 | -94.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.