le noeud: 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 noeud
Largest movements
- Receivables within one year -€272
down €272 (-73.1%), from €372 to €100
of which Trade receivables: -€349
- Intangible fixed assets -€240
down €240 (-22.1%), from €1,088 to €848
- Cash -€87
down €87 (-2.3%), from €3,762 to €3,675
mainly Trade debts (-€979) and Net result for the year (-€294)
- Trade debts -€979
no longer reported in 2025 (was €979)
- Tax, wage and social debts +€674
up €674 (+465%), from €145 to €819
- Profit (loss) carried forward -€294
down €294 (-0.9%), from -€31,505 to -€31,799
- Gross operating margin -€681
down €681 (-48.3%), from €1,410 to €729
- Other operating charges +€145
up €145 (+24.2%), from €598 to €743
- Depreciation +€128
up €128 (+114%), from €112 to €240
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 | €7,789 | €7,190 | -€599 | -7.7% |
| Fixed assets | 21/28 | €1,271 | €1,031 | -€240 | -18.9% |
| Intangible fixed assets | 21 | €1,088 | €848 | -€240 | -22.1% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €6,518 | €6,159 | -€359 | -5.5% |
| Stocks and contracts in progress | 3 | €2,384 | €2,384 | = | 0.0% |
| Stocks | 30/36 | €2,384 | €2,384 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €372 | €100 | -€272 | -73.1% |
| Trade receivables | 40 | €349 | - | -€349 | |
| Other amounts receivable | 41 | €23 | €100 | +€77 | +335% |
| Cash at bank and in hand | 54/58 | €3,762 | €3,675 | -€87 | -2.3% |
| Total equity and liabilities | 10/49 | €7,789 | €7,190 | -€599 | -7.7% |
| Equity | 10/15 | -€25,305 | -€25,599 | -€294 | -1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,505 | -€31,799 | -€294 | -0.9% |
| Amounts payable | 17/49 | €33,094 | €32,789 | -€305 | -0.9% |
| Amounts payable within one year | 42/48 | €33,094 | €32,789 | -€305 | -0.9% |
| Trade debts | 44 | €979 | - | -€979 | |
| Suppliers | 440/4 | €979 | - | -€979 | |
| Taxes, remuneration and social security | 45 | €145 | €819 | +€674 | +465% |
| Taxes | 450/3 | €145 | €819 | +€674 | +465% |
| Other amounts payable | 47/48 | €31,970 | €31,970 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112 | €240 | +€128 | +114% |
| Other operating charges | 640/8 | €598 | €743 | +€145 | +24.2% |
| Gross operating margin | 9900 | €1,410 | €729 | -€681 | -48.3% |
| Operating profit (loss) | 9901 | €700 | -€254 | -€954 | |
| Financial charges | 65/66B | €47 | €40 | -€7 | -14.9% |
| Recurring financial charges | 65 | €47 | €40 | -€7 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €653 | -€294 | -€947 | |
| Profit (loss) for the period | 9904 | €653 | -€294 | -€947 | |
| Profit (loss) for the period to be appropriated | 9905 | €653 | -€294 | -€947 |
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 23 October 2026 via checked.be.