L & S: 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 & S
Largest movements
- Cash -€43,292
down €43,292 (-15.9%), from €272,205 to €228,913
mainly Net result for the year (-€50,647) and Investment in fixed assets (net) (-€44,739)
- Receivables within one year +€23,237
up €23,237 (+36.7%), from €63,241 to €86,478
of which Other amounts receivable: +€24,298
- Deferred charges and accrued income -€17,667
down €17,667 (-14.3%), from €123,569 to €105,902
- Intangible fixed assets +€16,976
up €16,976 (+763%), from €2,224 to €19,200
- Tangible fixed assets +€14,286
up €14,286 (+45.6%), from €31,319 to €45,605
of which Other tangible fixed assets: +€7,748
- Profit (loss) carried forward -€50,647
down €50,647 (-213%), from -€23,778 to -€74,424
- Tax, wage and social debts +€38,718
up €38,718 (+10.2%), from €378,362 to €417,080
of which Remuneration and social security: +€51,839
- Trade debts +€12,131
up €12,131 (+422%), from €2,872 to €15,003
- Debts after one year -€10,082
down €10,082 (-66.1%), from €15,251 to €5,169
- Staff costs +€62,256
up €62,256 (+2.1%), from €3.0m to €3.1m
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 | €492,559 | €486,099 | -€6,460 | -1.3% |
| Fixed assets | 21/28 | €33,543 | €64,806 | +€31,262 | +93.2% |
| Intangible fixed assets | 21 | €2,224 | €19,200 | +€16,976 | +763% |
| Tangible fixed assets | 22/27 | €31,319 | €45,605 | +€14,286 | +45.6% |
| Furniture and vehicles | 24 | €31,319 | €37,858 | +€6,539 | +20.9% |
| Other tangible fixed assets | 26 | - | €7,748 | +€7,748 | |
| Current assets | 29/58 | €459,015 | €421,293 | -€37,722 | -8.2% |
| Amounts receivable within one year | 40/41 | €63,241 | €86,478 | +€23,237 | +36.7% |
| Trade receivables | 40 | €1,061 | €0 | -€1,061 | -100% |
| Other amounts receivable | 41 | €62,180 | €86,478 | +€24,298 | +39.1% |
| Cash at bank and in hand | 54/58 | €272,205 | €228,913 | -€43,292 | -15.9% |
| Deferred charges and accrued income | 490/1 | €123,569 | €105,902 | -€17,667 | -14.3% |
| Total equity and liabilities | 10/49 | €492,559 | €486,099 | -€6,460 | -1.3% |
| Equity | 10/15 | €13,576 | -€37,070 | -€50,647 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €7,354 | €7,354 | = | 0.0% |
| Distributable reserves | 133 | €7,354 | €7,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,778 | -€74,424 | -€50,647 | -213% |
| Amounts payable | 17/49 | €478,982 | €523,169 | +€44,187 | +9.2% |
| Amounts payable after more than one year | 17 | €15,251 | €5,169 | -€10,082 | -66.1% |
| Financial debts | 170/4 | €15,251 | €5,169 | -€10,082 | -66.1% |
| Amounts payable within one year | 42/48 | €461,591 | €518,000 | +€56,410 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €9,749 | €10,082 | +€333 | +3.4% |
| Financial debts | 43 | €69,345 | €72,534 | +€3,189 | +4.6% |
| Credit institutions | 430/8 | €69,345 | €72,534 | +€3,189 | +4.6% |
| Trade debts | 44 | €2,872 | €15,003 | +€12,131 | +422% |
| Suppliers | 440/4 | €2,872 | €15,003 | +€12,131 | +422% |
| Taxes, remuneration and social security | 45 | €378,362 | €417,080 | +€38,718 | +10.2% |
| Taxes | 450/3 | €23,073 | €9,951 | -€13,121 | -56.9% |
| Remuneration and social security | 454/9 | €355,290 | €407,129 | +€51,839 | +14.6% |
| Other amounts payable | 47/48 | €1,263 | €3,301 | +€2,039 | +161% |
| Accrued charges and deferred income | 492/3 | €2,141 | €0 | -€2,141 | -100% |
| Non-recurring operating income | 76A | €6,310 | €0 | -€6,310 | -100% |
| Remuneration, social security and pensions | 62 | €3,001,317 | €3,063,573 | +€62,256 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,698 | €13,477 | +€4,779 | +54.9% |
| Other operating charges | 640/8 | €1,321 | €678 | -€643 | -48.7% |
| Non-recurring operating charges | 66A | €973 | €0 | -€973 | -100% |
| Gross operating margin | 9900 | €3,050,349 | €3,029,383 | -€20,967 | -0.7% |
| Operating profit (loss) | 9901 | €38,041 | -€48,345 | -€86,386 | |
| Financial income | 75/76B | €4,181 | €3,709 | -€472 | -11.3% |
| Recurring financial income | 75 | €4,181 | €3,709 | -€472 | -11.3% |
| Financial charges | 65/66B | €7,178 | €5,878 | -€1,299 | -18.1% |
| Recurring financial charges | 65 | €7,178 | €5,878 | -€1,299 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €35,044 | -€50,515 | -€85,559 | |
| Income taxes | 67/77 | €15,047 | €132 | -€14,915 | -99.1% |
| Profit (loss) for the period | 9904 | €19,997 | -€50,647 | -€70,644 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,997 | -€50,647 | -€70,644 |
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 15 October 2026 via checked.be.