LEVEL UP: 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.
LEVEL UP
Largest movements
- Tangible fixed assets -€9,085
down €9,085 (-31.3%), from €29,004 to €19,919
of which Leasing and similar rights: -€9,468
- Cash +€3,739
up €3,739 (+76.4%), from €4,891 to €8,630
mainly Depreciation (+€11,547) and Receivables within one year (+€3,112)
- Receivables within one year -€3,112
down €3,112 (-94.0%), from €3,309 to €197
of which Trade receivables: -€3,060
- Debts after one year -€5,056
down €5,056 (-28.5%), from €17,745 to €12,689
- Profit (loss) carried forward -€2,426
down €2,426 (-60.2%), from -€4,028 to -€6,454
- Tax, wage and social debts -€1,638
down €1,638 (-40.8%), from €4,019 to €2,381
of which Remuneration and social security: -€1,449
- Other debts +€854
up €854 (+22.5%), from €3,796 to €4,650
- Short-term financial debts -€565
down €565 (-89.2%), from €633 to €69
- Gross operating margin -€5,641
down €5,641 (-33.0%), from €17,112 to €11,472
- Financial charges -€745
down €745 (-34.8%), from €2,142 to €1,397
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 | €37,766 | €29,330 | -€8,436 | -22.3% |
| Fixed assets | 21/28 | €29,119 | €20,034 | -€9,085 | -31.2% |
| Tangible fixed assets | 22/27 | €29,004 | €19,919 | -€9,085 | -31.3% |
| Plant, machinery and equipment | 23 | €990 | €2,241 | +€1,251 | +126.4% |
| Furniture and vehicles | 24 | €1,152 | €284 | -€868 | -75.4% |
| Leasing and similar rights | 25 | €26,862 | €17,394 | -€9,468 | -35.2% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €8,647 | €9,296 | +€649 | +7.5% |
| Amounts receivable within one year | 40/41 | €3,309 | €197 | -€3,112 | -94.0% |
| Trade receivables | 40 | €3,257 | €197 | -€3,060 | -93.9% |
| Other amounts receivable | 41 | €52 | - | -€52 | |
| Cash at bank and in hand | 54/58 | €4,891 | €8,630 | +€3,739 | +76.4% |
| Deferred charges and accrued income | 490/1 | €447 | €469 | +€22 | +5.0% |
| Total equity and liabilities | 10/49 | €37,766 | €29,330 | -€8,436 | -22.3% |
| Equity | 10/15 | €4,925 | €2,499 | -€2,426 | -49.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €6,953 | €6,953 | = | 0.0% |
| Distributable reserves | 133 | €6,953 | €6,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,028 | -€6,454 | -€2,426 | -60.2% |
| Amounts payable | 17/49 | €32,841 | €26,831 | -€6,010 | -18.3% |
| Amounts payable after more than one year | 17 | €17,745 | €12,689 | -€5,056 | -28.5% |
| Financial debts | 170/4 | €17,745 | €12,689 | -€5,056 | -28.5% |
| Amounts payable within one year | 42/48 | €15,096 | €14,142 | -€954 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €4,782 | €5,056 | +€274 | +5.7% |
| Financial debts | 43 | €633 | €69 | -€565 | -89.2% |
| Credit institutions | 430/8 | €633 | €69 | -€565 | -89.2% |
| Trade debts | 44 | €1,866 | €1,987 | +€121 | +6.5% |
| Suppliers | 440/4 | €1,866 | €1,987 | +€121 | +6.5% |
| Taxes, remuneration and social security | 45 | €4,019 | €2,381 | -€1,638 | -40.8% |
| Taxes | 450/3 | €2,570 | €2,381 | -€189 | -7.4% |
| Remuneration and social security | 454/9 | €1,449 | - | -€1,449 | |
| Other amounts payable | 47/48 | €3,796 | €4,650 | +€854 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,377 | €11,547 | +€170 | +1.5% |
| Other operating charges | 640/8 | €665 | €813 | +€147 | +22.1% |
| Gross operating margin | 9900 | €17,112 | €11,472 | -€5,641 | -33.0% |
| Operating profit (loss) | 9901 | €5,070 | -€888 | -€5,958 | |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €2,142 | €1,397 | -€745 | -34.8% |
| Recurring financial charges | 65 | €2,142 | €1,397 | -€745 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €2,936 | -€2,285 | -€5,221 | |
| Income taxes | 67/77 | €285 | €141 | -€144 | -50.6% |
| Profit (loss) for the period | 9904 | €2,651 | -€2,426 | -€5,077 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,651 | -€2,426 | -€5,077 |
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 9 October 2026 via checked.be.