Le Bilan: 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.
Le Bilan
Largest movements
- Receivables within one year -€38,122
down €38,122 (-56.3%), from €67,770 to €29,648
of which Trade receivables: -€40,499
- Cash -€25,494
down €25,494 (-33.1%), from €76,928 to €51,435
mainly Contributions, distributions and other (-€112,271) and Trade debts (-€26,968)
- Deferred charges and accrued income +€1,747
up €1,747 (+249.5%), from €700 to €2,447
- Reserves -€72,171
down €72,171 (-100.0%), from €72,171 to €0
- Other debts +€40,017
up €40,017 (+6616.1%), from €605 to €40,622
- Trade debts -€26,968
down €26,968 (-83.8%), from €32,164 to €5,196
- Debts after one year -€13,829
down €13,829 (-85.4%), from €16,195 to €2,366
- Tax, wage and social debts +€12,473
up €12,473 (+91.0%), from €13,702 to €26,175
- Gross operating margin -€16,676
down €16,676 (-21.4%), from €77,804 to €61,128
- Depreciation -€4,409
down €4,409 (-41.8%), from €10,541 to €6,133
- Taxes -€2,528
down €2,528 (-17.7%), from €14,317 to €11,789
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.
Cash bridge derived
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 | €162,152 | €100,066 | -€62,086 | -38.3% |
| Fixed assets | 21/28 | €16,754 | €16,537 | -€217 | -1.3% |
| Tangible fixed assets | 22/27 | €16,754 | €16,537 | -€217 | -1.3% |
| Plant, machinery and equipment | 23 | €192 | €0 | -€192 | -100.0% |
| Furniture and vehicles | 24 | €3,668 | €0 | -€3,668 | -100.0% |
| Other tangible fixed assets | 26 | €12,894 | €16,537 | +€3,643 | +28.3% |
| Current assets | 29/58 | €145,398 | €83,529 | -€61,869 | -42.6% |
| Amounts receivable within one year | 40/41 | €67,770 | €29,648 | -€38,122 | -56.3% |
| Trade receivables | 40 | €61,253 | €20,754 | -€40,499 | -66.1% |
| Other amounts receivable | 41 | €6,517 | €8,894 | +€2,377 | +36.5% |
| Cash at bank and in hand | 54/58 | €76,928 | €51,435 | -€25,494 | -33.1% |
| Deferred charges and accrued income | 490/1 | €700 | €2,447 | +€1,747 | +249.5% |
| Total equity and liabilities | 10/49 | €162,152 | €100,066 | -€62,086 | -38.3% |
| Equity | 10/15 | €74,171 | €2,000 | -€72,171 | -97.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €72,171 | €0 | -€72,171 | -100.0% |
| Distributable reserves | 133 | €72,171 | €0 | -€72,171 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €87,981 | €98,066 | +€10,085 | +11.5% |
| Amounts payable after more than one year | 17 | €16,195 | €2,366 | -€13,829 | -85.4% |
| Financial debts | 170/4 | €16,195 | €2,366 | -€13,829 | -85.4% |
| Amounts payable within one year | 42/48 | €70,286 | €95,701 | +€25,414 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €17,249 | €21,390 | +€4,140 | +24.0% |
| Financial debts | 43 | €4,248 | €0 | -€4,248 | -100.0% |
| Credit institutions | 430/8 | €4,248 | €0 | -€4,248 | -100.0% |
| Trade debts | 44 | €32,164 | €5,196 | -€26,968 | -83.8% |
| Suppliers | 440/4 | €32,164 | €5,196 | -€26,968 | -83.8% |
| Advances received on contracts in progress | 46 | €2,317 | €2,317 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €13,702 | €26,175 | +€12,473 | +91.0% |
| Taxes | 450/3 | €13,702 | €26,175 | +€12,473 | +91.0% |
| Other amounts payable | 47/48 | €605 | €40,622 | +€40,017 | +6616.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €0 | -€1,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,541 | €6,133 | -€4,409 | -41.8% |
| Other operating charges | 640/8 | €1,038 | €749 | -€289 | -27.8% |
| Gross operating margin | 9900 | €77,804 | €61,128 | -€16,676 | -21.4% |
| Operating profit (loss) | 9901 | €66,224 | €54,245 | -€11,979 | -18.1% |
| Financial income | 75/76B | €73 | €0 | -€73 | -99.8% |
| Recurring financial income | 75 | €73 | €0 | -€73 | -99.8% |
| Financial charges | 65/66B | €2,621 | €2,356 | -€265 | -10.1% |
| Recurring financial charges | 65 | €2,621 | €2,356 | -€265 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €63,677 | €51,890 | -€11,787 | -18.5% |
| Income taxes | 67/77 | €14,317 | €11,789 | -€2,528 | -17.7% |
| Profit (loss) for the period | 9904 | €49,360 | €40,100 | -€9,259 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,360 | €40,100 | -€9,259 | -18.8% |
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 9 October 2026 via checked.be.