Lever: 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.
Lever
Largest movements
- Receivables within one year -€8,301
down €8,301 (-26.4%), from €31,432 to €23,131
of which Trade receivables: -€5,614
- Cash -€2,487
down €2,487 (-18.6%), from €13,338 to €10,852
mainly Net result for the year (-€47,658) and Tax, wage and social debts (-€3,150)
- Profit (loss) carried forward -€47,658
down €47,658 (-55.2%), from -€86,334 to -€133,991
- Trade debts +€25,223
up €25,223 (+28.8%), from €87,664 to €112,887
- Other debts +€14,879
up €14,879 (+43.8%), from €34,008 to €48,888
- Tax, wage and social debts -€3,150
down €3,150 (-100.0%), from €3,150 to €0
- Gross operating margin +€3,628
up €3,628 (+7.3%), from -€49,856 to -€46,228
- Other operating charges +€667
up €667 (+172.3%), from €387 to €1,055
- Depreciation -€602
down €602 (-100.0%), from €602 to €0
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 | €44,770 | €33,983 | -€10,787 | -24.1% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €44,770 | €33,983 | -€10,787 | -24.1% |
| Amounts receivable within one year | 40/41 | €31,432 | €23,131 | -€8,301 | -26.4% |
| Trade receivables | 40 | €26,958 | €21,343 | -€5,614 | -20.8% |
| Other amounts receivable | 41 | €4,474 | €1,788 | -€2,686 | -60.0% |
| Cash at bank and in hand | 54/58 | €13,338 | €10,852 | -€2,487 | -18.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €44,770 | €33,983 | -€10,787 | -24.1% |
| Equity | 10/15 | -€80,134 | -€127,791 | -€47,658 | -59.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,334 | -€133,991 | -€47,658 | -55.2% |
| Amounts payable | 17/49 | €124,904 | €161,774 | +€36,870 | +29.5% |
| Amounts payable within one year | 42/48 | €124,904 | €161,774 | +€36,870 | +29.5% |
| Financial debts | 43 | €82 | €0 | -€82 | -100.0% |
| Credit institutions | 430/8 | €82 | €0 | -€82 | -100.0% |
| Trade debts | 44 | €87,664 | €112,887 | +€25,223 | +28.8% |
| Suppliers | 440/4 | €87,664 | €112,887 | +€25,223 | +28.8% |
| Taxes, remuneration and social security | 45 | €3,150 | €0 | -€3,150 | -100.0% |
| Taxes | 450/3 | €3,150 | €0 | -€3,150 | -100.0% |
| Other amounts payable | 47/48 | €34,008 | €48,888 | +€14,879 | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €602 | €0 | -€602 | -100.0% |
| Other operating charges | 640/8 | €387 | €1,055 | +€667 | +172.3% |
| Gross operating margin | 9900 | -€49,856 | -€46,228 | +€3,628 | +7.3% |
| Operating profit (loss) | 9901 | -€50,846 | -€47,283 | +€3,563 | +7.0% |
| Financial income | 75/76B | €0 | €5 | +€5 | |
| Recurring financial income | 75 | €0 | €5 | +€5 | |
| Financial charges | 65/66B | €438 | €379 | -€59 | -13.4% |
| Recurring financial charges | 65 | €438 | €379 | -€59 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | -€51,284 | -€47,658 | +€3,626 | +7.1% |
| Profit (loss) for the period | 9904 | -€51,284 | -€47,658 | +€3,626 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,284 | -€47,658 | +€3,626 | +7.1% |
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 7 October 2026 via checked.be.