Joined: 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.
Joined
Largest movements
- Current investments -€39,444
no longer reported in 2025 (was €39,444)
- Cash -€16,361
down €16,361 (-53.7%), from €30,475 to €14,114
mainly Contributions, distributions and other (-€144,904) and Investment in fixed assets (net) (-€4,087)
- Receivables within one year -€12,773
down €12,773 (-98.7%), from €12,935 to €162
of which Other amounts receivable: -€11,069
- Tangible fixed assets +€3,039
up €3,039 (+33.6%), from €9,045 to €12,084
of which Plant, machinery and equipment: +€3,039
- Profit (loss) carried forward -€78,684
down €78,684 (-75.2%), from €104,656 to €25,972
- Other debts +€16,961
new in 2025: €16,961
- Tax, wage and social debts -€2,557
down €2,557 (-10.8%), from €23,686 to €21,129
- Gross operating margin +€41,487
up €41,487 (+102.6%), from €40,425 to €81,912
- Taxes +€9,713
up €9,713 (+94.1%), from €10,320 to €20,033
- Financial income +€6,551
up €6,551 (+1310250.0%), from €1 to €6,552
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 | €131,952 | €67,201 | -€64,751 | -49.1% |
| Fixed assets | 21/28 | €9,195 | €12,734 | +€3,539 | +38.5% |
| Tangible fixed assets | 22/27 | €9,045 | €12,084 | +€3,039 | +33.6% |
| Plant, machinery and equipment | 23 | €30 | €3,069 | +€3,039 | +10250.7% |
| Furniture and vehicles | 24 | €9,015 | €9,015 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €650 | +€500 | +333.3% |
| Current assets | 29/58 | €122,757 | €54,467 | -€68,290 | -55.6% |
| Amounts receivable after more than one year | 29 | €37,500 | €37,500 | = | 0.0% |
| Other amounts receivable | 291 | €37,500 | €37,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,935 | €162 | -€12,773 | -98.7% |
| Trade receivables | 40 | €1,865 | €162 | -€1,703 | -91.3% |
| Other amounts receivable | 41 | €11,069 | - | -€11,069 | |
| Current investments | 50/53 | €39,444 | - | -€39,444 | |
| Cash at bank and in hand | 54/58 | €30,475 | €14,114 | -€16,361 | -53.7% |
| Deferred charges and accrued income | 490/1 | €2,403 | €2,691 | +€288 | +12.0% |
| Total equity and liabilities | 10/49 | €131,952 | €67,201 | -€64,751 | -49.1% |
| Equity | 10/15 | €106,156 | €27,472 | -€78,684 | -74.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,656 | €25,972 | -€78,684 | -75.2% |
| Amounts payable | 17/49 | €25,796 | €39,729 | +€13,934 | +54.0% |
| Amounts payable within one year | 42/48 | €25,796 | €39,729 | +€13,934 | +54.0% |
| Trade debts | 44 | €2,110 | €1,639 | -€470 | -22.3% |
| Suppliers | 440/4 | €2,110 | €1,639 | -€470 | -22.3% |
| Taxes, remuneration and social security | 45 | €23,686 | €21,129 | -€2,557 | -10.8% |
| Taxes | 450/3 | €23,686 | €21,129 | -€2,557 | -10.8% |
| Other amounts payable | 47/48 | - | €16,961 | +€16,961 | |
| Non-recurring operating income | 76A | €875 | - | -€875 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €515 | €547 | +€33 | +6.4% |
| Other operating charges | 640/8 | €1,082 | €1,043 | -€39 | -3.6% |
| Gross operating margin | 9900 | €40,425 | €81,912 | +€41,487 | +102.6% |
| Operating profit (loss) | 9901 | €38,828 | €80,322 | +€41,494 | +106.9% |
| Financial income | 75/76B | €1 | €6,552 | +€6,551 | +1310250.0% |
| Recurring financial income | 75 | €1 | €6,552 | +€6,551 | +1310250.0% |
| Financial charges | 65/66B | €294 | €621 | +€327 | +111.4% |
| Recurring financial charges | 65 | €294 | €621 | +€327 | +111.4% |
| Profit (loss) for the period before taxes | 9903 | €38,535 | €86,253 | +€47,718 | +123.8% |
| Income taxes | 67/77 | €10,320 | €20,033 | +€9,713 | +94.1% |
| Profit (loss) for the period | 9904 | €28,215 | €66,220 | +€38,005 | +134.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,215 | €66,220 | +€38,005 | +134.7% |
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 4 October 2026 via checked.be.