K15: 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.
K15
Largest movements
- Cash +€5,739
up €5,739 (+178233.9%), from €3 to €5,742
mainly Other debts (+€45,416) and Trade debts (+€870)
- Tangible fixed assets -€698
down €698 (-20.0%), from €3,492 to €2,793
of which Other tangible fixed assets: -€568
- Receivables within one year +€611
up €611 (+20.6%), from €2,973 to €3,584
of which Other amounts receivable: +€611
- Deferred charges and accrued income -€250
no longer reported in 2025 (was €250)
- Other debts +€45,416
up €45,416 (+156.7%), from €28,974 to €74,390
- Short-term financial debts -€26,155
no longer reported in 2025 (was €26,155)
- Profit (loss) carried forward -€14,156
down €14,156 (-13.9%), from -€101,915 to -€116,071
- Trade debts +€870
up €870 (+11.6%), from €7,523 to €8,393
- Accrued charges and deferred income -€585
no longer reported in 2025 (was €585)
- Gross operating margin -€1,559
down €1,559 (-17.8%), from -€8,771 to -€10,330
- Financial charges +€1,167
up €1,167 (+80.3%), from €1,453 to €2,620
- Financial income -€235
no longer reported in 2025 (was €235)
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 | €6,718 | €12,120 | +€5,402 | +80.4% |
| Fixed assets | 21/28 | €3,492 | €2,793 | -€698 | -20.0% |
| Tangible fixed assets | 22/27 | €3,492 | €2,793 | -€698 | -20.0% |
| Plant, machinery and equipment | 23 | €649 | €519 | -€130 | -20.0% |
| Other tangible fixed assets | 26 | €2,843 | €2,274 | -€568 | -20.0% |
| Current assets | 29/58 | €3,226 | €9,327 | +€6,101 | +189.1% |
| Amounts receivable within one year | 40/41 | €2,973 | €3,584 | +€611 | +20.6% |
| Trade receivables | 40 | €1,458 | €1,458 | = | 0.0% |
| Other amounts receivable | 41 | €1,515 | €2,126 | +€611 | +40.4% |
| Cash at bank and in hand | 54/58 | €3 | €5,742 | +€5,739 | +178233.9% |
| Deferred charges and accrued income | 490/1 | €250 | - | -€250 | |
| Total equity and liabilities | 10/49 | €6,718 | €12,120 | +€5,402 | +80.4% |
| Equity | 10/15 | -€77,459 | -€91,614 | -€14,156 | -18.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,865 | €5,865 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €4,005 | €4,005 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,915 | -€116,071 | -€14,156 | -13.9% |
| Amounts payable | 17/49 | €84,177 | €103,735 | +€19,558 | +23.2% |
| Amounts payable after more than one year | 17 | €20,601 | €20,601 | = | 0.0% |
| Financial debts | 170/4 | €20,601 | €20,601 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,991 | €83,134 | +€20,143 | +32.0% |
| Financial debts | 43 | €26,155 | - | -€26,155 | |
| Credit institutions | 430/8 | €26,155 | - | -€26,155 | |
| Trade debts | 44 | €7,523 | €8,393 | +€870 | +11.6% |
| Suppliers | 440/4 | €7,523 | €8,393 | +€870 | +11.6% |
| Taxes, remuneration and social security | 45 | €339 | €351 | +€12 | +3.5% |
| Taxes | 450/3 | €339 | €351 | +€12 | +3.5% |
| Other amounts payable | 47/48 | €28,974 | €74,390 | +€45,416 | +156.7% |
| Accrued charges and deferred income | 492/3 | €585 | - | -€585 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €698 | €698 | = | 0.0% |
| Other operating charges | 640/8 | €261 | €331 | +€71 | +27.1% |
| Gross operating margin | 9900 | -€8,771 | -€10,330 | -€1,559 | -17.8% |
| Operating profit (loss) | 9901 | -€9,730 | -€11,359 | -€1,630 | -16.7% |
| Financial income | 75/76B | €235 | - | -€235 | |
| Recurring financial income | 75 | €235 | - | -€235 | |
| Financial charges | 65/66B | €1,453 | €2,620 | +€1,167 | +80.3% |
| Recurring financial charges | 65 | €1,453 | €2,620 | +€1,167 | +80.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,949 | -€13,979 | -€3,031 | -27.7% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€11,123 | -€14,156 | -€3,033 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,123 | -€14,156 | -€3,033 | -27.3% |
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 9 October 2026 via checked.be.