IN THE LOOP: 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.
IN THE LOOP
Largest movements
- Cash -€37,195
down €37,195 (-61.3%), from €60,655 to €23,459
mainly Contributions, distributions and other (-€89,000) and Receivables within one year (-€17,966)
- Receivables within one year +€17,966
up €17,966 (+73.2%), from €24,541 to €42,507
of which Trade receivables: +€17,966
- Tangible fixed assets -€3,580
down €3,580 (-7.7%), from €46,570 to €42,991
of which Land and buildings: -€45,131
- Reserves -€38,521
down €38,521 (-59.8%), from €64,412 to €25,891
- Other debts +€25,000
new in 2025: €25,000
- Debts after one year -€7,874
down €7,874 (-28.5%), from €27,595 to €19,722
- Tax, wage and social debts -€2,013
down €2,013 (-7.8%), from €25,844 to €23,831
of which Remuneration and social security: -€2,750
- Gross operating margin +€10,970
up €10,970 (+17.7%), from €62,046 to €73,016
- Depreciation +€1,908
up €1,908 (+51.0%), from €3,742 to €5,649
- Taxes +€1,600
up €1,600 (+13.6%), from €11,725 to €13,326
- Financial charges +€1,177
up €1,177 (+60.8%), from €1,936 to €3,113
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 | €132,678 | €108,957 | -€23,721 | -17.9% |
| Fixed assets | 21/28 | €46,570 | €42,991 | -€3,580 | -7.7% |
| Tangible fixed assets | 22/27 | €46,570 | €42,991 | -€3,580 | -7.7% |
| Land and buildings | 22 | €45,131 | €0 | -€45,131 | -100% |
| Furniture and vehicles | 24 | €1,440 | €2,617 | +€1,177 | +81.8% |
| Other tangible fixed assets | 26 | - | €40,374 | +€40,374 | |
| Current assets | 29/58 | €86,108 | €65,966 | -€20,142 | -23.4% |
| Amounts receivable within one year | 40/41 | €24,541 | €42,507 | +€17,966 | +73.2% |
| Trade receivables | 40 | €24,091 | €42,057 | +€17,966 | +74.6% |
| Other amounts receivable | 41 | €450 | €450 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,655 | €23,459 | -€37,195 | -61.3% |
| Deferred charges and accrued income | 490/1 | €912 | €0 | -€912 | -100% |
| Total equity and liabilities | 10/49 | €132,678 | €108,957 | -€23,721 | -17.9% |
| Equity | 10/15 | €69,412 | €30,891 | -€38,521 | -55.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €64,412 | €25,891 | -€38,521 | -59.8% |
| Distributable reserves | 133 | €64,412 | €25,891 | -€38,521 | -59.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €63,266 | €78,066 | +€14,800 | +23.4% |
| Amounts payable after more than one year | 17 | €27,595 | €19,722 | -€7,874 | -28.5% |
| Financial debts | 170/4 | €27,595 | €19,722 | -€7,874 | -28.5% |
| Amounts payable within one year | 42/48 | €35,521 | €58,344 | +€22,823 | +64.3% |
| Current portion of amounts payable after more than one year | 42 | €7,547 | €7,874 | +€326 | +4.3% |
| Trade debts | 44 | €2,129 | €1,639 | -€490 | -23.0% |
| Suppliers | 440/4 | €2,129 | €1,639 | -€490 | -23.0% |
| Taxes, remuneration and social security | 45 | €25,844 | €23,831 | -€2,013 | -7.8% |
| Taxes | 450/3 | €23,094 | €23,831 | +€737 | +3.2% |
| Remuneration and social security | 454/9 | €2,750 | €0 | -€2,750 | -100% |
| Other amounts payable | 47/48 | - | €25,000 | +€25,000 | |
| Accrued charges and deferred income | 492/3 | €150 | €0 | -€150 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,742 | €5,649 | +€1,908 | +51.0% |
| Other operating charges | 640/8 | €449 | €525 | +€76 | +16.9% |
| Gross operating margin | 9900 | €62,046 | €73,016 | +€10,970 | +17.7% |
| Operating profit (loss) | 9901 | €57,856 | €66,842 | +€8,986 | +15.5% |
| Financial income | 75/76B | - | €76 | +€76 | |
| Recurring financial income | 75 | - | €76 | +€76 | |
| Financial charges | 65/66B | €1,936 | €3,113 | +€1,177 | +60.8% |
| Recurring financial charges | 65 | €1,936 | €3,113 | +€1,177 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | €55,919 | €63,805 | +€7,885 | +14.1% |
| Income taxes | 67/77 | €11,725 | €13,326 | +€1,600 | +13.6% |
| Profit (loss) for the period | 9904 | €44,194 | €50,479 | +€6,285 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,194 | €50,479 | +€6,285 | +14.2% |
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 13 October 2026 via checked.be.