Kink in the Cable: what changed
Kink in the Cable
Largest movements
- Intangible fixed assets +€39,536
new in 2025: €39,536
- Cash +€10,385
up €10,385 (+257%), from €4,042 to €14,427
mainly Debts after one year (+€33,571) and Other debts (+€27,000)
- Receivables within one year -€2,307
down €2,307 (-18.8%), from €12,288 to €9,981
of which Trade receivables: -€5,469
- Debts after one year +€33,571
up €33,571 (+38.6%), from €87,000 to €120,571
- Other debts +€27,000
up €27,000 (+22,464%), from €120 to €27,120
- Profit (loss) carried forward -€25,401
down €25,401 (-32.3%), from -€78,657 to -€104,058
- Current portion of long-term debt +€9,522
new in 2025: €9,522
- Trade debts +€5,198
up €5,198 (+172%), from €3,027 to €8,225
- Depreciation +€6,925
new in 2025: €6,925
- Financial charges +€2,428
up €2,428 (+356%), from €681 to €3,109
- Gross operating margin +€407
up €407 (+2.6%), from -€15,875 to -€15,468
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,875 | €64,379 | +€47,504 | +282% |
| Fixed assets | 21/28 | €435 | €39,971 | +€39,536 | +9,089% |
| Intangible fixed assets | 21 | - | €39,536 | +€39,536 | |
| Financial fixed assets | 28 | €435 | €435 | = | 0.0% |
| Current assets | 29/58 | €16,440 | €24,408 | +€7,968 | +48.5% |
| Amounts receivable within one year | 40/41 | €12,288 | €9,981 | -€2,307 | -18.8% |
| Trade receivables | 40 | €12,288 | €6,819 | -€5,469 | -44.5% |
| Other amounts receivable | 41 | €0 | €3,162 | +€3,162 | |
| Cash at bank and in hand | 54/58 | €4,042 | €14,427 | +€10,385 | +257% |
| Deferred charges and accrued income | 490/1 | €110 | €0 | -€110 | -100% |
| Total equity and liabilities | 10/49 | €16,875 | €64,379 | +€47,504 | +282% |
| Equity | 10/15 | -€75,657 | -€101,058 | -€25,401 | -33.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,657 | -€104,058 | -€25,401 | -32.3% |
| Amounts payable | 17/49 | €92,532 | €165,438 | +€72,905 | +78.8% |
| Amounts payable after more than one year | 17 | €87,000 | €120,571 | +€33,571 | +38.6% |
| Financial debts | 170/4 | €87,000 | €120,571 | +€33,571 | +38.6% |
| Amounts payable within one year | 42/48 | €5,532 | €44,867 | +€39,335 | +711% |
| Current portion of amounts payable after more than one year | 42 | - | €9,522 | +€9,522 | |
| Trade debts | 44 | €3,027 | €8,225 | +€5,198 | +172% |
| Suppliers | 440/4 | €3,027 | €8,225 | +€5,198 | +172% |
| Taxes, remuneration and social security | 45 | €2,386 | €0 | -€2,386 | -100% |
| Taxes | 450/3 | €2,386 | €0 | -€2,386 | -100% |
| Other amounts payable | 47/48 | €120 | €27,120 | +€27,000 | +22,464% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,925 | +€6,925 | |
| Other operating charges | 640/8 | €204 | €66 | -€139 | -67.8% |
| Gross operating margin | 9900 | -€15,875 | -€15,468 | +€407 | +2.6% |
| Operating profit (loss) | 9901 | -€16,080 | -€22,459 | -€6,379 | -39.7% |
| Financial income | 75/76B | €198 | €167 | -€31 | -15.6% |
| Recurring financial income | 75 | €198 | €167 | -€31 | -15.6% |
| Financial charges | 65/66B | €681 | €3,109 | +€2,428 | +356% |
| Recurring financial charges | 65 | €681 | €3,109 | +€2,428 | +356% |
| Profit (loss) for the period before taxes | 9903 | -€16,563 | -€25,401 | -€8,838 | -53.4% |
| Profit (loss) for the period | 9904 | -€16,563 | -€25,401 | -€8,838 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,563 | -€25,401 | -€8,838 | -53.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.