Inert: 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.
Inert
Largest movements
- Tangible fixed assets -€16,286
down €16,286 (-40.5%), from €40,258 to €23,972
of which Furniture and vehicles: -€10,181
- Cash -€4,783
no longer reported in 2025 (was €4,783)
mainly Tax, wage and social debts (-€26,094) and Debts after one year (-€10,746)
- Intangible fixed assets -€1,963
down €1,963 (-31.1%), from €6,307 to €4,344
- Receivables within one year -€1,099
down €1,099 (-2.6%), from €41,854 to €40,755
of which Other amounts receivable: -€833
- Tax, wage and social debts -€26,094
down €26,094 (-42.4%), from €61,610 to €35,516
of which Remuneration and social security: -€15,250
- Debts after one year -€10,746
down €10,746 (-55.9%), from €19,215 to €8,469
- Trade debts +€7,796
up €7,796 (+6,607%), from €118 to €7,914
- Profit (loss) carried forward -€4,418
down €4,418 (-44.3%), from -€9,969 to -€14,387
- Other debts +€3,288
up €3,288 (+295%), from €1,116 to €4,404
- Staff costs -€39,051
down €39,051 (-19.0%), from €205,368 to €166,317
- Gross operating margin -€32,387
down €32,387 (-14.9%), from €216,991 to €184,604
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 | €96,497 | €71,834 | -€24,663 | -25.6% |
| Fixed assets | 21/28 | €48,715 | €30,466 | -€18,249 | -37.5% |
| Intangible fixed assets | 21 | €6,307 | €4,344 | -€1,963 | -31.1% |
| Tangible fixed assets | 22/27 | €40,258 | €23,972 | -€16,286 | -40.5% |
| Plant, machinery and equipment | 23 | €10,849 | €5,210 | -€5,639 | -52.0% |
| Furniture and vehicles | 24 | €27,586 | €17,405 | -€10,181 | -36.9% |
| Other tangible fixed assets | 26 | €1,823 | €1,357 | -€466 | -25.6% |
| Financial fixed assets | 28 | €2,150 | €2,150 | = | 0.0% |
| Current assets | 29/58 | €47,782 | €41,368 | -€6,414 | -13.4% |
| Amounts receivable within one year | 40/41 | €41,854 | €40,755 | -€1,099 | -2.6% |
| Trade receivables | 40 | €41,021 | €40,755 | -€266 | -0.6% |
| Other amounts receivable | 41 | €833 | - | -€833 | |
| Cash at bank and in hand | 54/58 | €4,783 | - | -€4,783 | |
| Deferred charges and accrued income | 490/1 | €1,145 | €613 | -€532 | -46.5% |
| Total equity and liabilities | 10/49 | €96,497 | €71,834 | -€24,663 | -25.6% |
| Equity | 10/15 | €4,286 | -€132 | -€4,418 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,969 | -€14,387 | -€4,418 | -44.3% |
| Amounts payable | 17/49 | €92,211 | €71,966 | -€20,245 | -22.0% |
| Amounts payable after more than one year | 17 | €19,215 | €8,469 | -€10,746 | -55.9% |
| Financial debts | 170/4 | €19,215 | €8,469 | -€10,746 | -55.9% |
| Amounts payable within one year | 42/48 | €72,996 | €63,497 | -€9,499 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €10,152 | €13,287 | +€3,135 | +30.9% |
| Financial debts | 43 | - | €2,376 | +€2,376 | |
| Credit institutions | 430/8 | - | €2,376 | +€2,376 | |
| Trade debts | 44 | €118 | €7,914 | +€7,796 | +6,607% |
| Suppliers | 440/4 | €118 | €7,914 | +€7,796 | +6,607% |
| Taxes, remuneration and social security | 45 | €61,610 | €35,516 | -€26,094 | -42.4% |
| Taxes | 450/3 | €24,012 | €13,168 | -€10,844 | -45.2% |
| Remuneration and social security | 454/9 | €37,598 | €22,348 | -€15,250 | -40.6% |
| Other amounts payable | 47/48 | €1,116 | €4,404 | +€3,288 | +295% |
| Remuneration, social security and pensions | 62 | €205,368 | €166,317 | -€39,051 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,150 | €18,249 | +€99 | +0.5% |
| Other operating charges | 640/8 | €837 | €947 | +€110 | +13.1% |
| Gross operating margin | 9900 | €216,991 | €184,604 | -€32,387 | -14.9% |
| Operating profit (loss) | 9901 | -€7,364 | -€909 | +€6,455 | +87.7% |
| Financial charges | 65/66B | €2,024 | €2,135 | +€111 | +5.5% |
| Recurring financial charges | 65 | €2,024 | €2,135 | +€111 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,388 | -€3,044 | +€6,344 | +67.6% |
| Income taxes | 67/77 | €581 | €1,374 | +€793 | +136% |
| Profit (loss) for the period | 9904 | -€9,969 | -€4,418 | +€5,551 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,969 | -€4,418 | +€5,551 | +55.7% |
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 14 October 2026 via checked.be.