KNOWLEDGE FUSION: 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.
KNOWLEDGE FUSION
Largest movements
- Receivables within one year +€341,350
up €341,350 (+656.7%), from €51,979 to €393,329
of which Other amounts receivable: +€291,688
- Cash -€252,964
down €252,964 (-36.4%), from €694,752 to €441,788
mainly Receivables within one year (-€341,350) and Trade debts (-€88,200)
- Tangible fixed assets -€13,870
down €13,870 (-24.9%), from €55,597 to €41,727
- Intangible fixed assets -€10,442
down €10,442 (-43.1%), from €24,215 to €13,772
- Accrued charges and deferred income +€106,013
up €106,013 (+26.6%), from €399,171 to €505,184
- Trade debts -€88,200
down €88,200 (-45.5%), from €194,033 to €105,832
- Tax, wage and social debts +€37,714
up €37,714 (+101.0%), from €37,352 to €75,065
of which Remuneration and social security: +€38,773
- Gross operating margin -€293,376
down €293,376 (-38.1%), from €770,693 to €477,318
- Staff costs -€171,023
down €171,023 (-28.0%), from €610,413 to €439,390
- Depreciation -€15,891
down €15,891 (-39.0%), from €40,794 to €24,902
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 | €869,786 | €925,235 | +€55,449 | +6.4% |
| Fixed assets | 21/28 | €112,811 | €84,519 | -€28,292 | -25.1% |
| Intangible fixed assets | 21 | €24,215 | €13,772 | -€10,442 | -43.1% |
| Tangible fixed assets | 22/27 | €55,597 | €41,727 | -€13,870 | -24.9% |
| Plant, machinery and equipment | 23 | €3,910 | €982 | -€2,927 | -74.9% |
| Furniture and vehicles | 24 | €12,977 | €7,381 | -€5,597 | -43.1% |
| Other tangible fixed assets | 26 | €38,710 | €33,364 | -€5,346 | -13.8% |
| Financial fixed assets | 28 | €32,999 | €29,020 | -€3,979 | -12.1% |
| Current assets | 29/58 | €756,975 | €840,716 | +€83,741 | +11.1% |
| Amounts receivable within one year | 40/41 | €51,979 | €393,329 | +€341,350 | +656.7% |
| Trade receivables | 40 | €5,275 | €54,937 | +€49,662 | +941.5% |
| Other amounts receivable | 41 | €46,704 | €338,392 | +€291,688 | +624.5% |
| Cash at bank and in hand | 54/58 | €694,752 | €441,788 | -€252,964 | -36.4% |
| Deferred charges and accrued income | 490/1 | €10,244 | €5,599 | -€4,645 | -45.3% |
| Total equity and liabilities | 10/49 | €869,786 | €925,235 | +€55,449 | +6.4% |
| Equity | 10/15 | €238,644 | €239,153 | +€509 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €218,184 | €218,693 | +€509 | +0.2% |
| Amounts payable | 17/49 | €631,142 | €686,082 | +€54,940 | +8.7% |
| Amounts payable within one year | 42/48 | €231,971 | €180,898 | -€51,073 | -22.0% |
| Trade debts | 44 | €194,033 | €105,832 | -€88,200 | -45.5% |
| Suppliers | 440/4 | €194,033 | €105,832 | -€88,200 | -45.5% |
| Taxes, remuneration and social security | 45 | €37,352 | €75,065 | +€37,714 | +101.0% |
| Taxes | 450/3 | €1,059 | - | -€1,059 | |
| Remuneration and social security | 454/9 | €36,293 | €75,065 | +€38,773 | +106.8% |
| Other amounts payable | 47/48 | €586 | - | -€586 | |
| Accrued charges and deferred income | 492/3 | €399,171 | €505,184 | +€106,013 | +26.6% |
| Remuneration, social security and pensions | 62 | €610,413 | €439,390 | -€171,023 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,794 | €24,902 | -€15,891 | -39.0% |
| Other operating charges | 640/8 | €6,209 | €6,246 | +€38 | +0.6% |
| Gross operating margin | 9900 | €770,693 | €477,318 | -€293,376 | -38.1% |
| Operating profit (loss) | 9901 | €113,278 | €6,779 | -€106,499 | -94.0% |
| Financial income | 75/76B | €348 | €1,679 | +€1,331 | +382.5% |
| Recurring financial income | 75 | €348 | €1,679 | +€1,331 | +382.5% |
| Financial charges | 65/66B | €412 | €473 | +€60 | +14.6% |
| Recurring financial charges | 65 | €412 | €473 | +€60 | +14.6% |
| Profit (loss) for the period before taxes | 9903 | €113,214 | €7,986 | -€105,228 | -92.9% |
| Income taxes | 67/77 | €11,646 | €7,477 | -€4,169 | -35.8% |
| Profit (loss) for the period | 9904 | €101,568 | €509 | -€101,059 | -99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €101,568 | €509 | -€101,059 | -99.5% |
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 10 October 2026 via checked.be.