IV: 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.
IV
Largest movements
- Cash -€70,878
down €70,878 (-68.8%), from €103,066 to €32,188
mainly Contributions, distributions and other (-€50,331) and Receivables within one year (-€27,200)
- Receivables within one year +€27,200
up €27,200 (+2018.2%), from €1,348 to €28,548
of which Trade receivables: +€15,983
- Tangible fixed assets +€4,094
up €4,094 (+64.3%), from €6,369 to €10,462
of which Furniture and vehicles: +€3,969
- Deferred charges and accrued income +€1,954
up €1,954 (+79.6%), from €2,453 to €4,407
- Profit (loss) carried forward -€30,229
down €30,229 (-39.8%), from €75,859 to €45,630
- Other debts -€4,875
no longer reported in 2025 (was €4,875)
- Tax, wage and social debts -€3,668
down €3,668 (-21.0%), from €17,501 to €13,833
- Trade debts +€1,142
new in 2025: €1,142
- Gross operating margin -€37,029
down €37,029 (-53.1%), from €69,788 to €32,758
- Taxes -€7,082
down €7,082 (-48.6%), from €14,576 to €7,494
- Depreciation +€1,224
up €1,224 (+76.6%), from €1,599 to €2,823
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 | €113,236 | €75,605 | -€37,631 | -33.2% |
| Fixed assets | 21/28 | €6,369 | €10,462 | +€4,094 | +64.3% |
| Tangible fixed assets | 22/27 | €6,369 | €10,462 | +€4,094 | +64.3% |
| Plant, machinery and equipment | 23 | €2,036 | €1,038 | -€999 | -49.0% |
| Furniture and vehicles | 24 | €4,332 | €8,301 | +€3,969 | +91.6% |
| Other tangible fixed assets | 26 | - | €1,124 | +€1,124 | |
| Current assets | 29/58 | €106,867 | €65,143 | -€41,724 | -39.0% |
| Amounts receivable within one year | 40/41 | €1,348 | €28,548 | +€27,200 | +2018.2% |
| Trade receivables | 40 | €654 | €16,638 | +€15,983 | +2442.3% |
| Other amounts receivable | 41 | €693 | €11,910 | +€11,217 | +1617.8% |
| Cash at bank and in hand | 54/58 | €103,066 | €32,188 | -€70,878 | -68.8% |
| Deferred charges and accrued income | 490/1 | €2,453 | €4,407 | +€1,954 | +79.6% |
| Total equity and liabilities | 10/49 | €113,236 | €75,605 | -€37,631 | -33.2% |
| Equity | 10/15 | €90,859 | €60,630 | -€30,229 | -33.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,859 | €45,630 | -€30,229 | -39.8% |
| Amounts payable | 17/49 | €22,376 | €14,975 | -€7,402 | -33.1% |
| Amounts payable within one year | 42/48 | €22,376 | €14,975 | -€7,402 | -33.1% |
| Trade debts | 44 | - | €1,142 | +€1,142 | |
| Suppliers | 440/4 | - | €1,142 | +€1,142 | |
| Taxes, remuneration and social security | 45 | €17,501 | €13,833 | -€3,668 | -21.0% |
| Taxes | 450/3 | €17,501 | €13,833 | -€3,668 | -21.0% |
| Other amounts payable | 47/48 | €4,875 | - | -€4,875 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,599 | €2,823 | +€1,224 | +76.6% |
| Other operating charges | 640/8 | €1,275 | €1,072 | -€203 | -15.9% |
| Gross operating margin | 9900 | €69,788 | €32,758 | -€37,029 | -53.1% |
| Operating profit (loss) | 9901 | €66,914 | €28,864 | -€38,050 | -56.9% |
| Financial income | 75/76B | €3 | €124 | +€121 | +4022.0% |
| Recurring financial income | 75 | €3 | €124 | +€121 | +4022.0% |
| Financial charges | 65/66B | €1,813 | €1,391 | -€422 | -23.3% |
| Recurring financial charges | 65 | €1,813 | €1,391 | -€422 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €65,104 | €27,596 | -€37,508 | -57.6% |
| Income taxes | 67/77 | €14,576 | €7,494 | -€7,082 | -48.6% |
| Profit (loss) for the period | 9904 | €50,528 | €20,102 | -€30,426 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,528 | €20,102 | -€30,426 | -60.2% |
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 11 October 2026 via checked.be.