LETTER - STYLING: what changed
Two fiscal 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 - STYLING
Largest movements
- Tangible fixed assets -€11,644
down €11,644 (-22.6%), from €51,475 to €39,830
of which Furniture and vehicles: -€10,656
- Cash -€10,763
down €10,763 (-17.2%), from €62,499 to €51,736
mainly Other debts (-€14,000) and Net result for the year (-€6,624)
- Receivables within one year +€4,768
up €4,768 (+50.7%), from €9,401 to €14,169
of which Trade receivables: +€4,771
- Other debts -€14,000
down €14,000 (-26.6%), from €52,633 to €38,633
- Profit (loss) carried forward -€6,624
down €6,624 (-77.4%), from €8,563 to €1,939
- Trade debts +€2,773
up €2,773 (+204.9%), from €1,353 to €4,126
- Tax, wage and social debts -€1,734
down €1,734 (-28.5%), from €6,084 to €4,350
- Accrued charges and deferred income +€1,681
up €1,681 (+125.0%), from €1,345 to €3,026
- Other operating charges +€741
up €741 (+38.8%), from €1,909 to €2,650
- Gross operating margin -€293
down €293 (-2.7%), from €10,693 to €10,400
- Financial charges +€123
up €123 (+16.3%), from €755 to €878
of which Financial charges: +€121
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 | €128,203 | €110,297 | -€17,905 | -14.0% |
| Fixed assets | 21/28 | €51,819 | €40,025 | -€11,794 | -22.8% |
| Intangible fixed assets | 21 | €343 | €195 | -€148 | -43.1% |
| Tangible fixed assets | 22/27 | €51,475 | €39,830 | -€11,644 | -22.6% |
| Land and buildings | 22 | €14,689 | €13,700 | -€989 | -6.7% |
| Furniture and vehicles | 24 | €36,785 | €26,130 | -€10,656 | -29.0% |
| Financial fixed assets | 28 | €1 | - | -€1 | |
| Current assets | 29/58 | €76,384 | €70,272 | -€6,112 | -8.0% |
| Stocks and contracts in progress | 3 | €2,991 | €2,750 | -€240 | -8.0% |
| Stocks | 30/36 | €2,991 | €2,750 | -€240 | -8.0% |
| Amounts receivable within one year | 40/41 | €9,401 | €14,169 | +€4,768 | +50.7% |
| Trade receivables | 40 | €5,839 | €10,610 | +€4,771 | +81.7% |
| Other amounts receivable | 41 | €3,562 | €3,559 | -€3 | -0.1% |
| Cash at bank and in hand | 54/58 | €62,499 | €51,736 | -€10,763 | -17.2% |
| Deferred charges and accrued income | 490/1 | €1,493 | €1,616 | +€124 | +8.3% |
| Total equity and liabilities | 10/49 | €128,203 | €110,297 | -€17,905 | -14.0% |
| Equity | 10/15 | €66,787 | €60,163 | -€6,624 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,623 | €39,623 | = | 0.0% |
| Distributable reserves | 133 | €39,623 | €39,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,563 | €1,939 | -€6,624 | -77.4% |
| Amounts payable | 17/49 | €61,416 | €50,135 | -€11,281 | -18.4% |
| Amounts payable within one year | 42/48 | €60,071 | €47,109 | -€12,962 | -21.6% |
| Trade debts | 44 | €1,353 | €4,126 | +€2,773 | +204.9% |
| Suppliers | 440/4 | €1,353 | €4,126 | +€2,773 | +204.9% |
| Taxes, remuneration and social security | 45 | €6,084 | €4,350 | -€1,734 | -28.5% |
| Taxes | 450/3 | €6,084 | €4,350 | -€1,734 | -28.5% |
| Other amounts payable | 47/48 | €52,633 | €38,633 | -€14,000 | -26.6% |
| Accrued charges and deferred income | 492/3 | €1,345 | €3,026 | +€1,681 | +125.0% |
| Non-recurring operating income | 76A | - | €21 | +€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,379 | €13,292 | -€87 | -0.7% |
| Other operating charges | 640/8 | €1,909 | €2,650 | +€741 | +38.8% |
| Gross operating margin | 9900 | €10,693 | €10,400 | -€293 | -2.7% |
| Operating profit (loss) | 9901 | -€4,596 | -€5,542 | -€946 | -20.6% |
| Financial income | 75/76B | €151 | €236 | +€85 | +56.0% |
| Recurring financial income | 75 | €151 | €236 | +€85 | +56.0% |
| Financial charges | 65/66B | €755 | €878 | +€123 | +16.3% |
| Recurring financial charges | 65 | €755 | €876 | +€121 | +16.1% |
| Non-recurring financial charges | 66B | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | -€5,199 | -€6,183 | -€984 | -18.9% |
| Income taxes | 67/77 | €438 | €441 | +€3 | +0.7% |
| Profit (loss) for the period | 9904 | -€5,637 | -€6,624 | -€987 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,637 | -€6,624 | -€987 | -17.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.