IMAGEMENT: 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.
IMAGEMENT
Largest movements
- Cash -€8,366
down €8,366 (-20.9%), from €40,000 to €31,633
mainly Other debts (-€7,878) and Net result for the year (-€815)
- Other debts -€7,878
down €7,878 (-78.3%), from €10,055 to €2,177
- Profit (loss) carried forward -€815
down €815 (-1.5%), from -€53,406 to -€54,220
- Gross operating margin +€1,454
up €1,454, from -€1,041 to €413
- Other operating charges +€27
up €27 (+3.1%), from €846 to €873
- Financial charges -€22
down €22 (-13.0%), from €171 to €149
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 | €49,256 | €41,018 | -€8,239 | -16.7% |
| Fixed assets | 21/28 | €8,483 | €8,277 | -€206 | -2.4% |
| Tangible fixed assets | 22/27 | €8,260 | €8,054 | -€206 | -2.5% |
| Land and buildings | 22 | €6,817 | €6,817 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,443 | €1,237 | -€206 | -14.3% |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €40,773 | €32,741 | -€8,032 | -19.7% |
| Amounts receivable within one year | 40/41 | €773 | €1,107 | +€334 | +43.2% |
| Other amounts receivable | 41 | €773 | €1,107 | +€334 | +43.2% |
| Cash at bank and in hand | 54/58 | €40,000 | €31,633 | -€8,366 | -20.9% |
| Total equity and liabilities | 10/49 | €49,256 | €41,018 | -€8,239 | -16.7% |
| Equity | 10/15 | €39,201 | €38,387 | -€815 | -2.1% |
| Contributions | 10/11 | €90,987 | €90,987 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Outside capital | 11 | €28,487 | €28,487 | = | 0.0% |
| Share premium | 1100/10 | €28,487 | €28,487 | = | 0.0% |
| Reserves | 13 | €1,620 | €1,620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,620 | €1,620 | = | 0.0% |
| Legal reserve | 130 | €1,620 | €1,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,406 | -€54,220 | -€815 | -1.5% |
| Amounts payable | 17/49 | €10,055 | €2,631 | -€7,424 | -73.8% |
| Amounts payable within one year | 42/48 | €10,055 | €2,631 | -€7,424 | -73.8% |
| Trade debts | 44 | - | €454 | +€454 | |
| Suppliers | 440/4 | - | €454 | +€454 | |
| Other amounts payable | 47/48 | €10,055 | €2,177 | -€7,878 | -78.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206 | €206 | = | 0.0% |
| Other operating charges | 640/8 | €846 | €873 | +€27 | +3.1% |
| Gross operating margin | 9900 | -€1,041 | €413 | +€1,454 | |
| Operating profit (loss) | 9901 | -€2,093 | -€666 | +€1,428 | +68.2% |
| Financial charges | 65/66B | €171 | €149 | -€22 | -13.0% |
| Recurring financial charges | 65 | €171 | €149 | -€22 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,264 | -€815 | +€1,450 | +64.0% |
| Profit (loss) for the period | 9904 | -€2,264 | -€815 | +€1,450 | +64.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,264 | -€815 | +€1,450 | +64.0% |
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 3 October 2026 via checked.be.