LINK & VALUE: 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.
LINK & VALUE
Largest movements
- Cash -€505
down €505 (-9.4%), from €5,353 to €4,848
mainly Other debts (-€8,242) and Tax, wage and social debts (-€91)
- Receivables within one year -€455
down €455 (-27.3%), from €1,666 to €1,211
of which Trade receivables: -€455
- Tangible fixed assets -€372
down €372 (-12.4%), from €3,006 to €2,634
- Other debts -€8,242
down €8,242 (-53.2%), from €15,479 to €7,238
- Profit (loss) carried forward +€4,931
up €4,931 (+28.8%), from -€17,099 to -€12,168
- Trade debts +€2,070
up €2,070 (+315.4%), from €656 to €2,726
- Purchases and services -€6,036
down €6,036 (-43.2%), from €13,974 to €7,938
- Gross operating margin +€3,931
up €3,931 (+236.9%), from €1,660 to €5,591
- Staff costs +€148
new in 2025: €148
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 | €10,025 | €8,693 | -€1,332 | -13.3% |
| Fixed assets | 21/28 | €3,006 | €2,634 | -€372 | -12.4% |
| Tangible fixed assets | 22/27 | €3,006 | €2,634 | -€372 | -12.4% |
| Furniture and vehicles | 24 | €3,006 | €2,634 | -€372 | -12.4% |
| Current assets | 29/58 | €7,019 | €6,059 | -€960 | -13.7% |
| Amounts receivable within one year | 40/41 | €1,666 | €1,211 | -€455 | -27.3% |
| Trade receivables | 40 | €1,641 | €1,186 | -€455 | -27.7% |
| Other amounts receivable | 41 | €25 | €25 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,353 | €4,848 | -€505 | -9.4% |
| Total equity and liabilities | 10/49 | €10,025 | €8,693 | -€1,332 | -13.3% |
| Equity | 10/15 | -€6,255 | -€1,323 | +€4,931 | +78.8% |
| Contributions | 10/11 | €10,300 | €10,300 | = | 0.0% |
| Reserves | 13 | €545 | €545 | = | 0.0% |
| Distributable reserves | 133 | €545 | €545 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,099 | -€12,168 | +€4,931 | +28.8% |
| Amounts payable | 17/49 | €16,280 | €10,017 | -€6,263 | -38.5% |
| Amounts payable within one year | 42/48 | €16,280 | €10,017 | -€6,263 | -38.5% |
| Trade debts | 44 | €656 | €2,726 | +€2,070 | +315.4% |
| Suppliers | 440/4 | €656 | €2,726 | +€2,070 | +315.4% |
| Taxes, remuneration and social security | 45 | €144 | €53 | -€91 | -63.3% |
| Taxes | 450/3 | €144 | €53 | -€91 | -63.3% |
| Other amounts payable | 47/48 | €15,479 | €7,238 | -€8,242 | -53.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €13,974 | €7,938 | -€6,036 | -43.2% |
| Remuneration, social security and pensions | 62 | - | €148 | +€148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €372 | €372 | = | 0.0% |
| Gross operating margin | 9900 | €1,660 | €5,591 | +€3,931 | +236.9% |
| Operating profit (loss) | 9901 | €1,288 | €5,071 | +€3,784 | +293.8% |
| Financial charges | 65/66B | €94 | €140 | +€46 | +49.1% |
| Recurring financial charges | 65 | €94 | €140 | +€46 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €1,194 | €4,931 | +€3,737 | +313.0% |
| Profit (loss) for the period | 9904 | €1,194 | €4,931 | +€3,737 | +313.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,194 | €4,931 | +€3,737 | +313.0% |
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 8 October 2026 via checked.be.