L'écharpe: 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.
L'écharpe
Largest movements
- Stocks and contracts -€4,020
down €4,020 (-55.6%), from €7,229 to €3,209
- Receivables within one year +€336
new in 2025: €336
- Trade debts -€13,367
down €13,367 (-99.4%), from €13,444 to €76
- Profit (loss) carried forward +€5,379
up €5,379 (+15.2%), from -€35,317 to -€29,938
- Tax, wage and social debts +€4,395
up €4,395 (+161.5%), from €2,721 to €7,116
- Purchases and services -€20,373
no longer reported in 2025 (was €20,373)
- Turnover -€18,453
no longer reported in 2025 (was €18,453)
- Gross operating margin +€8,329
up €8,329, from -€1,920 to €6,410
- Other operating charges -€196
down €196 (-21.4%), from €916 to €720
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 | €9,703 | €6,094 | -€3,609 | -37.2% |
| Formation expenses | 20 | €220 | €220 | = | 0.0% |
| Fixed assets | 21/28 | €1,246 | €1,246 | = | 0.0% |
| Tangible fixed assets | 22/27 | €908 | €908 | = | 0.0% |
| Furniture and vehicles | 24 | €908 | €908 | = | 0.0% |
| Financial fixed assets | 28 | €338 | €338 | = | 0.0% |
| Current assets | 29/58 | €8,237 | €4,628 | -€3,609 | -43.8% |
| Stocks and contracts in progress | 3 | €7,229 | €3,209 | -€4,020 | -55.6% |
| Stocks | 30/36 | €7,229 | €3,209 | -€4,020 | -55.6% |
| Amounts receivable within one year | 40/41 | - | €336 | +€336 | |
| Other amounts receivable | 41 | - | €336 | +€336 | |
| Cash at bank and in hand | 54/58 | €1,008 | €1,083 | +€75 | +7.5% |
| Total equity and liabilities | 10/49 | €9,703 | €6,094 | -€3,609 | -37.2% |
| Equity | 10/15 | -€16,717 | -€11,338 | +€5,379 | +32.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,317 | -€29,938 | +€5,379 | +15.2% |
| Amounts payable | 17/49 | €26,419 | €17,431 | -€8,988 | -34.0% |
| Amounts payable within one year | 42/48 | €26,419 | €17,431 | -€8,988 | -34.0% |
| Trade debts | 44 | €13,444 | €76 | -€13,367 | -99.4% |
| Suppliers | 440/4 | €13,444 | €76 | -€13,367 | -99.4% |
| Taxes, remuneration and social security | 45 | €2,721 | €7,116 | +€4,395 | +161.5% |
| Taxes | 450/3 | €2,721 | €7,116 | +€4,395 | +161.5% |
| Other amounts payable | 47/48 | €10,255 | €10,239 | -€16 | -0.2% |
| Turnover | 70 | €18,453 | - | -€18,453 | |
| Goods, raw materials, services and sundry goods | 60/61 | €20,373 | - | -€20,373 | |
| Other operating charges | 640/8 | €916 | €720 | -€196 | -21.4% |
| Gross operating margin | 9900 | -€1,920 | €6,410 | +€8,329 | |
| Operating profit (loss) | 9901 | -€2,835 | €5,690 | +€8,525 | |
| Financial charges | 65/66B | €289 | €311 | +€22 | +7.5% |
| Recurring financial charges | 65 | €289 | €311 | +€22 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,125 | €5,379 | +€8,504 | |
| Profit (loss) for the period | 9904 | -€3,125 | €5,379 | +€8,504 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,125 | €5,379 | +€8,504 |
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 7 October 2026 via checked.be.