L'étape: 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.
L'étape
Largest movements
- Tangible fixed assets -€20,267
down €20,267 (-29.2%), from €69,389 to €49,122
- Cash -€11,874
down €11,874 (-35.8%), from €33,185 to €21,311
mainly Other debts (-€17,000) and Receivables within one year (-€10,760)
- Receivables within one year +€10,760
new in 2025: €10,760
- Stocks and contracts +€7,000
up €7,000 (+50.5%), from €13,853 to €20,853
- Other debts -€17,000
down €17,000 (-28.3%), from €60,000 to €43,000
- Trade debts +€5,649
up €5,649 (+87.6%), from €6,451 to €12,100
of which Suppliers: +€8,696
- Accrued charges and deferred income -€5,000
no longer reported in 2025 (was €5,000)
- Tax, wage and social debts +€2,424
up €2,424 (+20.5%), from €11,801 to €14,225
of which Remuneration and social security: +€2,396
- Turnover -€64,145
down €64,145 (-10.1%), from €634,791 to €570,646
- Staff costs +€33,844
up €33,844 (+17.3%), from €195,209 to €229,053
- Gross operating margin -€33,227
down €33,227 (-11.5%), from €287,871 to €254,644
- Purchases and services -€30,917
down €30,917 (-8.9%), from €346,919 to €316,002
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 | €120,269 | €106,393 | -€13,876 | -11.5% |
| Fixed assets | 21/28 | €69,389 | €49,122 | -€20,267 | -29.2% |
| Tangible fixed assets | 22/27 | €69,389 | €49,122 | -€20,267 | -29.2% |
| Furniture and vehicles | 24 | €69,389 | €49,122 | -€20,267 | -29.2% |
| Current assets | 29/58 | €50,880 | €57,272 | +€6,391 | +12.6% |
| Stocks and contracts in progress | 3 | €13,853 | €20,853 | +€7,000 | +50.5% |
| Stocks | 30/36 | €13,853 | €20,853 | +€7,000 | +50.5% |
| Amounts receivable within one year | 40/41 | - | €10,760 | +€10,760 | |
| Other amounts receivable | 41 | - | €10,760 | +€10,760 | |
| Cash at bank and in hand | 54/58 | €33,185 | €21,311 | -€11,874 | -35.8% |
| Deferred charges and accrued income | 490/1 | €3,843 | €4,348 | +€506 | +13.2% |
| Total equity and liabilities | 10/49 | €120,269 | €106,393 | -€13,876 | -11.5% |
| Equity | 10/15 | €37,018 | €37,068 | +€51 | +0.1% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Capital | 10 | €9,000 | €9,000 | = | 0.0% |
| Issued capital | 100 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,018 | €28,068 | +€51 | +0.2% |
| Amounts payable | 17/49 | €83,252 | €69,325 | -€13,927 | -16.7% |
| Amounts payable within one year | 42/48 | €78,252 | €69,325 | -€8,927 | -11.4% |
| Trade debts | 44 | €6,451 | €12,100 | +€5,649 | +87.6% |
| Suppliers | 440/4 | €3,405 | €12,100 | +€8,696 | +255% |
| Bills of exchange payable | 441 | €3,047 | - | -€3,047 | |
| Taxes, remuneration and social security | 45 | €11,801 | €14,225 | +€2,424 | +20.5% |
| Taxes | 450/3 | €2,039 | €2,067 | +€28 | +1.4% |
| Remuneration and social security | 454/9 | €9,761 | €12,157 | +€2,396 | +24.5% |
| Other amounts payable | 47/48 | €60,000 | €43,000 | -€17,000 | -28.3% |
| Accrued charges and deferred income | 492/3 | €5,000 | - | -€5,000 | |
| Turnover | 70 | €634,791 | €570,646 | -€64,145 | -10.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €346,919 | €316,002 | -€30,917 | -8.9% |
| Remuneration, social security and pensions | 62 | €195,209 | €229,053 | +€33,844 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,267 | €22,767 | +€500 | +2.2% |
| Other operating charges | 640/8 | €220 | €180 | -€40 | -18.2% |
| Gross operating margin | 9900 | €287,871 | €254,644 | -€33,227 | -11.5% |
| Operating profit (loss) | 9901 | €70,176 | €2,644 | -€67,532 | -96.2% |
| Financial income | 75/76B | €48 | - | -€48 | |
| Recurring financial income | 75 | €48 | - | -€48 | |
| Financial charges | 65/66B | €3,582 | €2,565 | -€1,017 | -28.4% |
| Recurring financial charges | 65 | €3,582 | €2,565 | -€1,017 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €66,642 | €79 | -€66,563 | -99.9% |
| Income taxes | 67/77 | €2,039 | €28 | -€2,012 | -98.6% |
| Profit (loss) for the period | 9904 | €64,602 | €51 | -€64,552 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,602 | €51 | -€64,552 | -99.9% |
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 14 October 2026 via checked.be.