L-R: 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-R
Largest movements
- Receivables within one year -€43,575
no longer reported in 2025 (was €43,575)
- Debts after one year -€54,076
down €54,076 (-19.9%), from €271,840 to €217,764
- Tax, wage and social debts -€11,465
down €11,465 (-34.2%), from €33,558 to €22,093
- Other debts +€11,445
up €11,445 (+108%), from €10,588 to €22,033
- Reserves +€8,957
up €8,957 (+11.6%), from €76,886 to €85,843
- Gross operating margin -€56,577
down €56,577 (-66.0%), from €85,710 to €29,133
- Taxes -€15,158
down €15,158 (-81.9%), from €18,516 to €3,359
- Financial charges -€2,033
down €2,033 (-13.1%), from €15,472 to €13,439
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 | €554,726 | €512,095 | -€42,631 | -7.7% |
| Fixed assets | 21/28 | €505,971 | €502,992 | -€2,978 | -0.6% |
| Tangible fixed assets | 22/27 | €5,971 | €2,992 | -€2,978 | -49.9% |
| Furniture and vehicles | 24 | €5,971 | €2,992 | -€2,978 | -49.9% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €48,755 | €9,102 | -€39,653 | -81.3% |
| Amounts receivable within one year | 40/41 | €43,575 | - | -€43,575 | |
| Trade receivables | 40 | €43,575 | - | -€43,575 | |
| Cash at bank and in hand | 54/58 | €5,042 | €8,960 | +€3,918 | +77.7% |
| Deferred charges and accrued income | 490/1 | €138 | €142 | +€4 | +2.9% |
| Total equity and liabilities | 10/49 | €554,726 | €512,095 | -€42,631 | -7.7% |
| Equity | 10/15 | €186,886 | €195,843 | +€8,957 | +4.8% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €76,886 | €85,843 | +€8,957 | +11.6% |
| Distributable reserves | 133 | €76,886 | €85,843 | +€8,957 | +11.6% |
| Amounts payable | 17/49 | €367,840 | €316,252 | -€51,588 | -14.0% |
| Amounts payable after more than one year | 17 | €271,840 | €217,764 | -€54,076 | -19.9% |
| Financial debts | 170/4 | €271,840 | €217,764 | -€54,076 | -19.9% |
| Amounts payable within one year | 42/48 | €96,000 | €98,488 | +€2,488 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €51,803 | €54,076 | +€2,273 | +4.4% |
| Trade debts | 44 | €51 | €287 | +€236 | +461% |
| Suppliers | 440/4 | €51 | €287 | +€236 | +461% |
| Taxes, remuneration and social security | 45 | €33,558 | €22,093 | -€11,465 | -34.2% |
| Taxes | 450/3 | €33,558 | €22,093 | -€11,465 | -34.2% |
| Other amounts payable | 47/48 | €10,588 | €22,033 | +€11,445 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,345 | €2,978 | +€634 | +27.0% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €85,710 | €29,133 | -€56,577 | -66.0% |
| Operating profit (loss) | 9901 | €83,365 | €25,754 | -€57,611 | -69.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €15,472 | €13,439 | -€2,033 | -13.1% |
| Recurring financial charges | 65 | €15,472 | €13,439 | -€2,033 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €67,893 | €12,315 | -€55,578 | -81.9% |
| Income taxes | 67/77 | €18,516 | €3,359 | -€15,158 | -81.9% |
| Profit (loss) for the period | 9904 | €49,377 | €8,957 | -€40,420 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,377 | €8,957 | -€40,420 | -81.9% |
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 30 October 2026 via checked.be.