It's a wrap: 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.
It's a wrap
Largest movements
- Tangible fixed assets -€16,738
down €16,738 (-33.7%), from €49,707 to €32,969
of which Plant, machinery and equipment: -€8,684
- Receivables within one year -€12,487
down €12,487 (-39.0%), from €32,051 to €19,565
of which Trade receivables: -€11,648
- Cash -€12,055
down €12,055 (-80.6%), from €14,953 to €2,899
mainly Net result for the year (-€28,629) and Trade debts (-€7,333)
- Profit (loss) carried forward -€17,067
new in 2025: -€17,067
- Reserves -€11,561
down €11,561 (-18.8%), from €61,606 to €50,045
- Trade debts -€7,333
down €7,333 (-88.4%), from €8,291 to €958
- Debts after one year -€4,611
down €4,611 (-51.1%), from €9,023 to €4,413
- Other debts -€1,159
down €1,159 (-8.7%), from €13,364 to €12,205
- Gross operating margin -€48,104
down €48,104, from €37,893 to -€10,211
- Other operating charges -€5,397
down €5,397 (-85.7%), from €6,295 to €897
- Taxes -€4,813
down €4,813 (-100%), from €4,813 to €0
- Depreciation +€2,203
up €2,203 (+15.2%), from €14,535 to €16,738
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 | €97,643 | €55,433 | -€42,211 | -43.2% |
| Fixed assets | 21/28 | €49,707 | €32,969 | -€16,738 | -33.7% |
| Tangible fixed assets | 22/27 | €49,707 | €32,969 | -€16,738 | -33.7% |
| Plant, machinery and equipment | 23 | €27,789 | €19,105 | -€8,684 | -31.3% |
| Furniture and vehicles | 24 | €21,918 | €13,864 | -€8,053 | -36.7% |
| Current assets | 29/58 | €47,936 | €22,463 | -€25,473 | -53.1% |
| Amounts receivable within one year | 40/41 | €32,051 | €19,565 | -€12,487 | -39.0% |
| Trade receivables | 40 | €28,561 | €16,913 | -€11,648 | -40.8% |
| Other amounts receivable | 41 | €3,491 | €2,652 | -€839 | -24.0% |
| Cash at bank and in hand | 54/58 | €14,953 | €2,899 | -€12,055 | -80.6% |
| Deferred charges and accrued income | 490/1 | €931 | €0 | -€931 | -100% |
| Total equity and liabilities | 10/49 | €97,643 | €55,433 | -€42,211 | -43.2% |
| Equity | 10/15 | €61,656 | €33,027 | -€28,629 | -46.4% |
| Contributions | 10/11 | €50 | €50 | = | 0.0% |
| Reserves | 13 | €61,606 | €50,045 | -€11,561 | -18.8% |
| Distributable reserves | 133 | €61,606 | €50,045 | -€11,561 | -18.8% |
| Profit (loss) carried forward | 14 | - | -€17,067 | -€17,067 | |
| Amounts payable | 17/49 | €35,987 | €22,405 | -€13,582 | -37.7% |
| Amounts payable after more than one year | 17 | €9,023 | €4,413 | -€4,611 | -51.1% |
| Financial debts | 170/4 | €9,023 | €4,413 | -€4,611 | -51.1% |
| Amounts payable within one year | 42/48 | €26,964 | €17,992 | -€8,972 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €4,408 | €4,611 | +€203 | +4.6% |
| Financial debts | 43 | €125 | €0 | -€125 | -100% |
| Credit institutions | 430/8 | €125 | €0 | -€125 | -100% |
| Trade debts | 44 | €8,291 | €958 | -€7,333 | -88.4% |
| Suppliers | 440/4 | €8,291 | €958 | -€7,333 | -88.4% |
| Taxes, remuneration and social security | 45 | €776 | €219 | -€557 | -71.8% |
| Taxes | 450/3 | €776 | €219 | -€557 | -71.8% |
| Other amounts payable | 47/48 | €13,364 | €12,205 | -€1,159 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,535 | €16,738 | +€2,203 | +15.2% |
| Other operating charges | 640/8 | €6,295 | €897 | -€5,397 | -85.7% |
| Gross operating margin | 9900 | €37,893 | -€10,211 | -€48,104 | |
| Operating profit (loss) | 9901 | €17,064 | -€27,846 | -€44,910 | |
| Financial income | 75/76B | €59 | €0 | -€59 | -100% |
| Recurring financial income | 75 | €59 | €0 | -€59 | -100% |
| Financial charges | 65/66B | €992 | €783 | -€209 | -21.1% |
| Recurring financial charges | 65 | €992 | €783 | -€209 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €16,131 | -€28,629 | -€44,760 | |
| Income taxes | 67/77 | €4,813 | €0 | -€4,813 | -100% |
| Profit (loss) for the period | 9904 | €11,318 | -€28,629 | -€39,947 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,318 | -€28,629 | -€39,947 |
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 19 October 2026 via checked.be.