KEYWOODS: 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.
KEYWOODS
Largest movements
- Receivables within one year -€47,537
down €47,537 (-88.3%), from €53,857 to €6,320
of which Trade receivables: -€53,787
- Cash -€9,979
down €9,979 (-100.0%), from €9,983 to €4
mainly Trade debts (-€27,621) and Net result for the year (-€21,018)
- Tangible fixed assets -€9,612
down €9,612 (-39.5%), from €24,330 to €14,718
of which Furniture and vehicles: -€9,130
- Trade debts -€27,621
down €27,621 (-47.6%), from €58,033 to €30,413
- Profit (loss) carried forward -€21,018
down €21,018, from €8,122 to -€12,896
- Tax, wage and social debts -€16,150
down €16,150 (-95.0%), from €17,008 to €858
- Current portion of long-term debt -€2,639
down €2,639 (-100%), from €2,639 to €0
- Gross operating margin -€59,883
down €59,883, from €52,926 to -€6,957
- Taxes -€3,940
down €3,940 (-90.7%), from €4,346 to €406
- Financial charges +€1,385
up €1,385 (+166%), from €836 to €2,221
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 | €88,802 | €21,375 | -€67,428 | -75.9% |
| Formation expenses | 20 | €632 | €333 | -€299 | -47.3% |
| Fixed assets | 21/28 | €24,330 | €14,718 | -€9,612 | -39.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €24,330 | €14,718 | -€9,612 | -39.5% |
| Furniture and vehicles | 24 | €20,835 | €11,705 | -€9,130 | -43.8% |
| Other tangible fixed assets | 26 | €3,495 | €3,013 | -€482 | -13.8% |
| Current assets | 29/58 | €63,840 | €6,324 | -€57,516 | -90.1% |
| Amounts receivable within one year | 40/41 | €53,857 | €6,320 | -€47,537 | -88.3% |
| Trade receivables | 40 | €53,787 | €0 | -€53,787 | -100% |
| Other amounts receivable | 41 | €69 | €6,320 | +€6,250 | +9,030% |
| Cash at bank and in hand | 54/58 | €9,983 | €4 | -€9,979 | -100.0% |
| Total equity and liabilities | 10/49 | €88,802 | €21,375 | -€67,428 | -75.9% |
| Equity | 10/15 | €11,122 | -€9,896 | -€21,018 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,122 | -€12,896 | -€21,018 | |
| Amounts payable | 17/49 | €77,680 | €31,271 | -€46,409 | -59.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €77,680 | €31,271 | -€46,409 | -59.7% |
| Current portion of amounts payable after more than one year | 42 | €2,639 | €0 | -€2,639 | -100% |
| Trade debts | 44 | €58,033 | €30,413 | -€27,621 | -47.6% |
| Suppliers | 440/4 | €58,033 | €30,413 | -€27,621 | -47.6% |
| Taxes, remuneration and social security | 45 | €17,008 | €858 | -€16,150 | -95.0% |
| Taxes | 450/3 | €17,008 | €858 | -€16,150 | -95.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,730 | €9,911 | +€181 | +1.9% |
| Other operating charges | 640/8 | €1,713 | €1,690 | -€24 | -1.4% |
| Non-recurring operating charges | 66A | €27,000 | €0 | -€27,000 | -100% |
| Gross operating margin | 9900 | €52,926 | -€6,957 | -€59,883 | |
| Operating profit (loss) | 9901 | €14,482 | -€18,559 | -€33,041 | |
| Financial income | 75/76B | €5 | €167 | +€163 | +3,528% |
| Recurring financial income | 75 | €5 | €167 | +€163 | +3,528% |
| Financial charges | 65/66B | €836 | €2,221 | +€1,385 | +166% |
| Recurring financial charges | 65 | €836 | €2,221 | +€1,385 | +166% |
| Profit (loss) for the period before taxes | 9903 | €13,651 | -€20,613 | -€34,263 | |
| Income taxes | 67/77 | €4,346 | €406 | -€3,940 | -90.7% |
| Profit (loss) for the period | 9904 | €9,304 | -€21,018 | -€30,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,304 | -€21,018 | -€30,323 |
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 25 October 2026 via checked.be.