LETTER EN VORM: 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.
LETTER EN VORM
Largest movements
- Receivables within one year -€7,977
down €7,977 (-33.2%), from €24,023 to €16,046
of which Other amounts receivable: -€13,436
- Cash +€5,698
up €5,698 (+36.9%), from €15,423 to €21,121
mainly Receivables within one year (+€7,977) and Net result for the year (+€1,144)
- Tangible fixed assets -€486
no longer reported in 2025 (was €486)
- Tax, wage and social debts -€2,421
down €2,421 (-37.5%), from €6,456 to €4,035
- Trade debts -€1,487
down €1,487 (-57.7%), from €2,577 to €1,090
- Reserves +€1,144
up €1,144 (+9.3%), from €12,348 to €13,492
- Gross operating margin -€1,466
down €1,466 (-22.1%), from €6,628 to €5,163
- Depreciation -€241
down €241 (-33.1%), from €727 to €486
- Taxes -€146
down €146 (-7.1%), from €2,045 to €1,899
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 | €39,932 | €37,167 | -€2,764 | -6.9% |
| Fixed assets | 21/28 | €486 | - | -€486 | |
| Tangible fixed assets | 22/27 | €486 | - | -€486 | |
| Plant, machinery and equipment | 23 | €486 | - | -€486 | |
| Current assets | 29/58 | €39,446 | €37,167 | -€2,278 | -5.8% |
| Amounts receivable within one year | 40/41 | €24,023 | €16,046 | -€7,977 | -33.2% |
| Trade receivables | 40 | €3,214 | €8,674 | +€5,459 | +170% |
| Other amounts receivable | 41 | €20,809 | €7,372 | -€13,436 | -64.6% |
| Cash at bank and in hand | 54/58 | €15,423 | €21,121 | +€5,698 | +36.9% |
| Total equity and liabilities | 10/49 | €39,932 | €37,167 | -€2,764 | -6.9% |
| Equity | 10/15 | €30,898 | €32,042 | +€1,144 | +3.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €12,348 | €13,492 | +€1,144 | +9.3% |
| Distributable reserves | 133 | €12,348 | €13,492 | +€1,144 | +9.3% |
| Amounts payable | 17/49 | €9,034 | €5,125 | -€3,908 | -43.3% |
| Amounts payable within one year | 42/48 | €9,034 | €5,125 | -€3,908 | -43.3% |
| Trade debts | 44 | €2,577 | €1,090 | -€1,487 | -57.7% |
| Suppliers | 440/4 | €2,577 | €1,090 | -€1,487 | -57.7% |
| Taxes, remuneration and social security | 45 | €6,456 | €4,035 | -€2,421 | -37.5% |
| Taxes | 450/3 | €6,456 | €4,035 | -€2,421 | -37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €727 | €486 | -€241 | -33.1% |
| Other operating charges | 640/8 | €2,034 | €2,074 | +€41 | +2.0% |
| Gross operating margin | 9900 | €6,628 | €5,163 | -€1,466 | -22.1% |
| Operating profit (loss) | 9901 | €3,868 | €2,602 | -€1,266 | -32.7% |
| Financial income | 75/76B | €718 | €766 | +€48 | +6.6% |
| Recurring financial income | 75 | €718 | €766 | +€48 | +6.6% |
| Financial charges | 65/66B | €328 | €324 | -€3 | -1.0% |
| Recurring financial charges | 65 | €328 | €324 | -€3 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €4,258 | €3,043 | -€1,215 | -28.5% |
| Income taxes | 67/77 | €2,045 | €1,899 | -€146 | -7.1% |
| Profit (loss) for the period | 9904 | €2,213 | €1,144 | -€1,069 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,213 | €1,144 | -€1,069 | -48.3% |
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 25 October 2026 via checked.be.