LETTERA: 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.
LETTERA
Largest movements
- Cash -€21,446
down €21,446 (-74.8%), from €28,656 to €7,210
mainly Trade debts (-€19,445) and Other debts (-€11,640)
- Tangible fixed assets -€6,441
down €6,441 (-77.1%), from €8,352 to €1,911
- Receivables within one year -€4,513
down €4,513 (-28.1%), from €16,076 to €11,563
of which Trade receivables: -€5,864
- Deferred charges and accrued income -€1,585
down €1,585 (-49.6%), from €3,195 to €1,611
- Trade debts -€19,445
down €19,445 (-89.6%), from €21,713 to €2,268
- Other debts -€11,640
down €11,640 (-100%), from €11,640 to €0
- Current portion of long-term debt -€2,367
down €2,367 (-100%), from €2,367 to €0
- Profit (loss) carried forward -€1,790
down €1,790 (-23.3%), from -€7,680 to -€9,469
- Tax, wage and social debts +€1,258
up €1,258 (+262%), from €479 to €1,737
- Gross operating margin -€7,276
down €7,276, from €6,836 to -€439
- Depreciation -€3,013
down €3,013 (-79.8%), from €3,775 to €762
- Financial income -€656
down €656 (-100%), from €656 to €0
- Other operating charges -€193
down €193 (-51.2%), from €376 to €183
- Financial charges -€164
down €164 (-46.7%), from €351 to €187
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 | €104,391 | €70,407 | -€33,984 | -32.6% |
| Fixed assets | 21/28 | €8,352 | €1,911 | -€6,441 | -77.1% |
| Tangible fixed assets | 22/27 | €8,352 | €1,911 | -€6,441 | -77.1% |
| Furniture and vehicles | 24 | €8,352 | €1,911 | -€6,441 | -77.1% |
| Current assets | 29/58 | €96,039 | €68,496 | -€27,543 | -28.7% |
| Amounts receivable within one year | 40/41 | €16,076 | €11,563 | -€4,513 | -28.1% |
| Trade receivables | 40 | €9,004 | €3,140 | -€5,864 | -65.1% |
| Other amounts receivable | 41 | €7,071 | €8,423 | +€1,352 | +19.1% |
| Current investments | 50/53 | €48,112 | €48,112 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,656 | €7,210 | -€21,446 | -74.8% |
| Deferred charges and accrued income | 490/1 | €3,195 | €1,611 | -€1,585 | -49.6% |
| Total equity and liabilities | 10/49 | €104,391 | €70,407 | -€33,984 | -32.6% |
| Equity | 10/15 | €68,192 | €66,402 | -€1,790 | -2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €57,279 | €57,279 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €55,420 | €55,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,680 | -€9,469 | -€1,790 | -23.3% |
| Amounts payable | 17/49 | €36,200 | €4,005 | -€32,194 | -88.9% |
| Amounts payable within one year | 42/48 | €36,200 | €4,005 | -€32,194 | -88.9% |
| Current portion of amounts payable after more than one year | 42 | €2,367 | €0 | -€2,367 | -100% |
| Trade debts | 44 | €21,713 | €2,268 | -€19,445 | -89.6% |
| Suppliers | 440/4 | €21,713 | €2,268 | -€19,445 | -89.6% |
| Taxes, remuneration and social security | 45 | €479 | €1,737 | +€1,258 | +262% |
| Taxes | 450/3 | €479 | €1,737 | +€1,258 | +262% |
| Other amounts payable | 47/48 | €11,640 | €0 | -€11,640 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,775 | €762 | -€3,013 | -79.8% |
| Other operating charges | 640/8 | €376 | €183 | -€193 | -51.2% |
| Gross operating margin | 9900 | €6,836 | -€439 | -€7,276 | |
| Operating profit (loss) | 9901 | €2,685 | -€1,384 | -€4,070 | |
| Financial income | 75/76B | €656 | €0 | -€656 | -100% |
| Recurring financial income | 75 | €656 | €0 | -€656 | -100% |
| Financial charges | 65/66B | €351 | €187 | -€164 | -46.7% |
| Recurring financial charges | 65 | €351 | €187 | -€164 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €2,990 | -€1,571 | -€4,562 | |
| Income taxes | 67/77 | €231 | €218 | -€12 | -5.4% |
| Profit (loss) for the period | 9904 | €2,759 | -€1,790 | -€4,549 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,759 | -€1,790 | -€4,549 |
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.