L & F: 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 & F
Largest movements
- Cash -€13,787
down €13,787 (-53.5%), from €25,769 to €11,983
mainly Net result for the year (-€15,928) and Short-term financial debts (-€8,804)
- Intangible fixed assets -€7,000
down €7,000 (-17.9%), from €39,083 to €32,083
- Deferred charges and accrued income +€6,852
up €6,852 (+7,540%), from €91 to €6,943
- Tangible fixed assets -€4,731
down €4,731 (-56.2%), from €8,414 to €3,684
of which Furniture and vehicles: -€4,304
- Receivables within one year +€1,431
up €1,431 (+63.5%), from €2,255 to €3,686
of which Other amounts receivable: +€2,141
- Profit (loss) carried forward -€15,928
down €15,928 (-50.0%), from €31,860 to €15,931
- Short-term financial debts -€8,804
no longer reported in 2025 (was €8,804)
- Other debts +€5,418
up €5,418 (+39.4%), from €13,761 to €19,179
- Trade debts +€2,286
up €2,286 (+37.9%), from €6,025 to €8,310
- Gross operating margin -€31,584
down €31,584 (-92.6%), from €34,126 to €2,542
- Taxes +€4,628
up €4,628 (+580%), from €799 to €5,427
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 | €80,450 | €63,421 | -€17,029 | -21.2% |
| Fixed assets | 21/28 | €48,997 | €37,267 | -€11,731 | -23.9% |
| Intangible fixed assets | 21 | €39,083 | €32,083 | -€7,000 | -17.9% |
| Tangible fixed assets | 22/27 | €8,414 | €3,684 | -€4,731 | -56.2% |
| Plant, machinery and equipment | 23 | €1,599 | €1,173 | -€426 | -26.7% |
| Furniture and vehicles | 24 | €6,815 | €2,511 | -€4,304 | -63.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €31,452 | €26,154 | -€5,298 | -16.8% |
| Stocks and contracts in progress | 3 | €3,337 | €3,542 | +€205 | +6.1% |
| Stocks | 30/36 | €3,337 | €3,542 | +€205 | +6.1% |
| Amounts receivable within one year | 40/41 | €2,255 | €3,686 | +€1,431 | +63.5% |
| Trade receivables | 40 | €709 | - | -€709 | |
| Other amounts receivable | 41 | €1,545 | €3,686 | +€2,141 | +139% |
| Cash at bank and in hand | 54/58 | €25,769 | €11,983 | -€13,787 | -53.5% |
| Deferred charges and accrued income | 490/1 | €91 | €6,943 | +€6,852 | +7,540% |
| Total equity and liabilities | 10/49 | €80,450 | €63,421 | -€17,029 | -21.2% |
| Equity | 10/15 | €51,860 | €35,931 | -€15,928 | -30.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,860 | €15,931 | -€15,928 | -50.0% |
| Amounts payable | 17/49 | €28,590 | €27,489 | -€1,101 | -3.9% |
| Amounts payable within one year | 42/48 | €28,590 | €27,489 | -€1,101 | -3.9% |
| Financial debts | 43 | €8,804 | - | -€8,804 | |
| Credit institutions | 430/8 | €8,804 | - | -€8,804 | |
| Trade debts | 44 | €6,025 | €8,310 | +€2,286 | +37.9% |
| Suppliers | 440/4 | €6,025 | €8,310 | +€2,286 | +37.9% |
| Other amounts payable | 47/48 | €13,761 | €19,179 | +€5,418 | +39.4% |
| Remuneration, social security and pensions | 62 | €196 | - | -€196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,731 | €11,731 | = | 0.0% |
| Other operating charges | 640/8 | €229 | €120 | -€109 | -47.6% |
| Gross operating margin | 9900 | €34,126 | €2,542 | -€31,584 | -92.6% |
| Operating profit (loss) | 9901 | €21,971 | -€9,308 | -€31,279 | |
| Financial charges | 65/66B | €1,257 | €1,193 | -€64 | -5.1% |
| Recurring financial charges | 65 | €1,257 | €1,193 | -€64 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €20,714 | -€10,501 | -€31,215 | |
| Income taxes | 67/77 | €799 | €5,427 | +€4,628 | +580% |
| Profit (loss) for the period | 9904 | €19,915 | -€15,928 | -€35,844 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,915 | -€15,928 | -€35,844 |
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 21 October 2026 via checked.be.