LA PAGE: 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.
LA PAGE
Largest movements
- Receivables within one year -€5,393
down €5,393 (-80.0%), from €6,738 to €1,345
of which Trade receivables: -€5,392
- Deferred charges and accrued income -€779
down €779 (-73.0%), from €1,067 to €288
- Financial fixed assets +€630
new in 2025: €630
- Cash +€475
up €475 (+85.9%), from €553 to €1,029
mainly Receivables within one year (+€5,393) and Net result for the year (+€4,509)
- Tangible fixed assets -€448
down €448 (-74.1%), from €605 to €156
- Other debts -€4,639
down €4,639 (-28.1%), from €16,527 to €11,888
- Profit (loss) carried forward +€4,509
up €4,509 (+11.2%), from -€40,306 to -€35,797
- Trade debts -€3,519
down €3,519 (-25.8%), from €13,627 to €10,108
- Tax, wage and social debts -€2,221
down €2,221 (-84.2%), from €2,637 to €416
- Accrued charges and deferred income +€356
new in 2025: €356
- Gross operating margin -€13,226
down €13,226 (-68.5%), from €19,296 to €6,071
- Other operating charges -€452
down €452 (-40.6%), from €1,115 to €663
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 | €8,962 | €3,448 | -€5,515 | -61.5% |
| Fixed assets | 21/28 | €605 | €786 | +€182 | +30.0% |
| Tangible fixed assets | 22/27 | €605 | €156 | -€448 | -74.1% |
| Furniture and vehicles | 24 | €605 | €156 | -€448 | -74.1% |
| Financial fixed assets | 28 | - | €630 | +€630 | |
| Current assets | 29/58 | €8,357 | €2,661 | -€5,696 | -68.2% |
| Amounts receivable within one year | 40/41 | €6,738 | €1,345 | -€5,393 | -80.0% |
| Trade receivables | 40 | €6,614 | €1,222 | -€5,392 | -81.5% |
| Other amounts receivable | 41 | €124 | €123 | -€1 | -0.5% |
| Cash at bank and in hand | 54/58 | €553 | €1,029 | +€475 | +85.9% |
| Deferred charges and accrued income | 490/1 | €1,067 | €288 | -€779 | -73.0% |
| Total equity and liabilities | 10/49 | €8,962 | €3,448 | -€5,515 | -61.5% |
| Equity | 10/15 | -€23,829 | -€19,320 | +€4,509 | +18.9% |
| Contributions | 10/11 | €13,287 | €13,287 | = | 0.0% |
| Reserves | 13 | €3,190 | €3,190 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,331 | €1,331 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,306 | -€35,797 | +€4,509 | +11.2% |
| Amounts payable | 17/49 | €32,791 | €22,768 | -€10,024 | -30.6% |
| Amounts payable within one year | 42/48 | €32,791 | €22,412 | -€10,379 | -31.7% |
| Trade debts | 44 | €13,627 | €10,108 | -€3,519 | -25.8% |
| Suppliers | 440/4 | €13,627 | €10,108 | -€3,519 | -25.8% |
| Taxes, remuneration and social security | 45 | €2,637 | €416 | -€2,221 | -84.2% |
| Taxes | 450/3 | €2,637 | €416 | -€2,221 | -84.2% |
| Other amounts payable | 47/48 | €16,527 | €11,888 | -€4,639 | -28.1% |
| Accrued charges and deferred income | 492/3 | - | €356 | +€356 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €448 | €448 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €61 | +€61 | |
| Other operating charges | 640/8 | €1,115 | €663 | -€452 | -40.6% |
| Non-recurring operating charges | 66A | €444 | - | -€444 | |
| Gross operating margin | 9900 | €19,296 | €6,071 | -€13,226 | -68.5% |
| Operating profit (loss) | 9901 | €17,289 | €4,899 | -€12,389 | -71.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €259 | €258 | -€1 | -0.4% |
| Recurring financial charges | 65 | €259 | €258 | -€1 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €17,030 | €4,641 | -€12,389 | -72.7% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | €16,902 | €4,509 | -€12,393 | -73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,902 | €4,509 | -€12,393 | -73.3% |
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 31 October 2026 via checked.be.