Lenvers du décor: 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.
Lenvers du décor
Largest movements
- Cash -€37,766
down €37,766 (-60.3%), from €62,582 to €24,816
mainly Contributions, distributions and other (-€80,000) and Other debts (-€34,750)
- Receivables within one year -€25,768
down €25,768 (-26.1%), from €98,849 to €73,081
of which Trade receivables: -€75,422
- Other debts -€34,750
down €34,750 (-33.8%), from €102,750 to €68,000
- Profit (loss) carried forward -€18,108
down €18,108 (-91.9%), from €19,694 to €1,585
- Current portion of long-term debt -€9,481
no longer reported in 2025 (was €9,481)
- Gross operating margin -€70,675
down €70,675 (-59.7%), from €118,313 to €47,638
- Financial income +€50,149
new in 2025: €50,149
- Depreciation -€20,438
down €20,438 (-98.3%), from €20,787 to €349
- Staff costs +€9,978
up €9,978 (+47.8%), from €20,895 to €30,873
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 | €164,242 | €102,084 | -€62,159 | -37.8% |
| Fixed assets | 21/28 | €60 | €831 | +€771 | +1,286% |
| Tangible fixed assets | 22/27 | - | €771 | +€771 | |
| Furniture and vehicles | 24 | - | €771 | +€771 | |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €164,182 | €101,253 | -€62,930 | -38.3% |
| Amounts receivable within one year | 40/41 | €98,849 | €73,081 | -€25,768 | -26.1% |
| Trade receivables | 40 | €87,422 | €12,000 | -€75,422 | -86.3% |
| Other amounts receivable | 41 | €11,427 | €61,081 | +€49,654 | +435% |
| Cash at bank and in hand | 54/58 | €62,582 | €24,816 | -€37,766 | -60.3% |
| Deferred charges and accrued income | 490/1 | €2,752 | €3,356 | +€604 | +21.9% |
| Total equity and liabilities | 10/49 | €164,242 | €102,084 | -€62,159 | -37.8% |
| Equity | 10/15 | €25,694 | €7,585 | -€18,108 | -70.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,694 | €1,585 | -€18,108 | -91.9% |
| Amounts payable | 17/49 | €138,549 | €94,498 | -€44,050 | -31.8% |
| Amounts payable within one year | 42/48 | €138,549 | €94,498 | -€44,050 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €9,481 | - | -€9,481 | |
| Trade debts | 44 | €1,804 | €1,757 | -€47 | -2.6% |
| Suppliers | 440/4 | €1,804 | €1,757 | -€47 | -2.6% |
| Taxes, remuneration and social security | 45 | €24,514 | €24,741 | +€228 | +0.9% |
| Taxes | 450/3 | €24,374 | €20,848 | -€3,525 | -14.5% |
| Remuneration and social security | 454/9 | €140 | €3,893 | +€3,753 | +2,679% |
| Other amounts payable | 47/48 | €102,750 | €68,000 | -€34,750 | -33.8% |
| Remuneration, social security and pensions | 62 | €20,895 | €30,873 | +€9,978 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,787 | €349 | -€20,438 | -98.3% |
| Other operating charges | 640/8 | €407 | €463 | +€56 | +13.7% |
| Gross operating margin | 9900 | €118,313 | €47,638 | -€70,675 | -59.7% |
| Operating profit (loss) | 9901 | €76,223 | €15,952 | -€60,271 | -79.1% |
| Financial income | 75/76B | - | €50,149 | +€50,149 | |
| Recurring financial income | 75 | - | €50,149 | +€50,149 | |
| Financial charges | 65/66B | €1,109 | €465 | -€644 | -58.1% |
| Recurring financial charges | 65 | €1,109 | €465 | -€644 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €75,114 | €65,636 | -€9,478 | -12.6% |
| Income taxes | 67/77 | €3,806 | €3,745 | -€61 | -1.6% |
| Profit (loss) for the period | 9904 | €71,309 | €61,892 | -€9,417 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,309 | €61,892 | -€9,417 | -13.2% |
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.