I&TD: what changed
I&TD
Largest movements
- Cash -€161,792
down €161,792 (-94.5%), from €171,292 to €9,500
mainly Other debts (-€181,254) and Net result for the year (-€51,839)
- Receivables within one year -€17,983
down €17,983 (-58.4%), from €30,785 to €12,802
of which Trade receivables: -€19,666
- Current investments +€14,500
new in 2025: €14,500
- Tangible fixed assets +€14,054
up €14,054 (+722%), from €1,946 to €16,000
- Receivables after one year -€10,000
down €10,000 (-100%), from €10,000 to €0
- Other debts -€181,254
down €181,254 (-87.6%), from €206,968 to €25,715
- Profit (loss) carried forward -€51,839
new in 2025: -€51,839
- Provisions +€50,377
new in 2025: €50,377
- Current portion of long-term debt +€9,738
new in 2025: €9,738
- Trade debts +€7,732
up €7,732 (+695%), from €1,112 to €8,844
- Gross operating margin -€75,087
down €75,087 (-89.6%), from €83,787 to €8,700
- Provisions +€50,377
new in 2025: €50,377
- Taxes -€18,226
down €18,226 (-87.3%), from €20,877 to €2,651
- Depreciation +€2,815
up €2,815 (+152%), from €1,846 to €4,661
- Other operating charges +€1,413
up €1,413 (+365%), from €387 to €1,800
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €214,140 | €52,911 | -€161,229 | -75.3% |
| Fixed assets | 21/28 | €2,056 | €16,110 | +€14,054 | +684% |
| Tangible fixed assets | 22/27 | €1,946 | €16,000 | +€14,054 | +722% |
| Furniture and vehicles | 24 | €1,946 | €16,000 | +€14,054 | +722% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €212,084 | €36,801 | -€175,283 | -82.6% |
| Amounts receivable after more than one year | 29 | €10,000 | €0 | -€10,000 | -100% |
| Other amounts receivable | 291 | €10,000 | €0 | -€10,000 | -100% |
| Amounts receivable within one year | 40/41 | €30,785 | €12,802 | -€17,983 | -58.4% |
| Trade receivables | 40 | €28,798 | €9,132 | -€19,666 | -68.3% |
| Other amounts receivable | 41 | €1,987 | €3,669 | +€1,683 | +84.7% |
| Current investments | 50/53 | - | €14,500 | +€14,500 | |
| Cash at bank and in hand | 54/58 | €171,292 | €9,500 | -€161,792 | -94.5% |
| Deferred charges and accrued income | 490/1 | €8 | €0 | -€8 | -100% |
| Total equity and liabilities | 10/49 | €214,140 | €52,911 | -€161,229 | -75.3% |
| Equity | 10/15 | €2,500 | -€49,339 | -€51,839 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€51,839 | -€51,839 | |
| Provisions and deferred taxes | 16 | - | €50,377 | +€50,377 | |
| Provisions for liabilities and charges | 160/5 | - | €50,377 | +€50,377 | |
| Other liabilities and charges | 164/5 | - | €50,377 | +€50,377 | |
| Amounts payable | 17/49 | €211,640 | €51,873 | -€159,767 | -75.5% |
| Amounts payable within one year | 42/48 | €210,608 | €50,856 | -€159,752 | -75.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,738 | +€9,738 | |
| Trade debts | 44 | €1,112 | €8,844 | +€7,732 | +695% |
| Suppliers | 440/4 | €1,112 | €8,844 | +€7,732 | +695% |
| Taxes, remuneration and social security | 45 | €2,528 | €6,560 | +€4,032 | +159% |
| Taxes | 450/3 | €2,528 | €6,560 | +€4,032 | +159% |
| Other amounts payable | 47/48 | €206,968 | €25,715 | -€181,254 | -87.6% |
| Accrued charges and deferred income | 492/3 | €1,032 | €1,017 | -€15 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,846 | €4,661 | +€2,815 | +152% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €50,377 | +€50,377 | |
| Other operating charges | 640/8 | €387 | €1,800 | +€1,413 | +365% |
| Gross operating margin | 9900 | €83,787 | €8,700 | -€75,087 | -89.6% |
| Operating profit (loss) | 9901 | €81,553 | -€48,138 | -€129,692 | |
| Financial income | 75/76B | €430 | €0 | -€430 | -100% |
| Recurring financial income | 75 | €430 | €0 | -€430 | -100% |
| Financial charges | 65/66B | €1,183 | €1,049 | -€133 | -11.3% |
| Recurring financial charges | 65 | €1,183 | €1,049 | -€133 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €80,801 | -€49,188 | -€129,989 | |
| Income taxes | 67/77 | €20,877 | €2,651 | -€18,226 | -87.3% |
| Profit (loss) for the period | 9904 | €59,925 | -€51,839 | -€111,763 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,925 | -€51,839 | -€111,763 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.