LIVEDROP: 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.
LIVEDROP
Largest movements
- Intangible fixed assets +€726,004
up €726,004 (+38.8%), from €1.9m to €2.6m
- Receivables within one year -€310,710
down €310,710 (-60.3%), from €515,496 to €204,786
of which Trade receivables: -€267,316
- Current investments -€246,924
down €246,924 (-100.0%), from €246,924 to €0
- Tangible fixed assets +€185,957
up €185,957 (+293.2%), from €63,420 to €249,377
of which Other tangible fixed assets: +€191,460
- Cash +€152,210
up €152,210 (+16.3%), from €935,664 to €1.1m
mainly Debts after one year (+€944,658) and Contributions, distributions and other (+€551,543)
- Debts after one year +€944,658
up €944,658 (+632.7%), from €149,309 to €1.1m
- Profit (loss) carried forward -€690,287
down €690,287 (-58.5%), from -€1.2m to -€1.9m
- Other debts -€578,579
down €578,579 (-66.1%), from €875,056 to €296,478
- Investment grants +€551,543
up €551,543 (+60.5%), from €910,980 to €1.5m
- Short-term financial debts +€300,000
new in 2025: €300,000
- Depreciation +€219,443
up €219,443 (+178.6%), from €122,863 to €342,306
- Staff costs +€179,175
up €179,175 (+53.1%), from €337,419 to €516,595
- Gross operating margin +€172,756
up €172,756 (+96.8%), from -€178,554 to -€5,798
- Financial income +€94,891
up €94,891 (+133.2%), from €71,246 to €166,137
- Taxes -€18,109
down €18,109 (-120.2%), from -€15,060 to -€33,168
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 | €3,776,366 | €4,272,856 | +€496,489 | +13.1% |
| Formation expenses | 20 | €4,025 | €2,343 | -€1,682 | -41.8% |
| Fixed assets | 21/28 | €1,932,874 | €2,844,985 | +€912,111 | +47.2% |
| Intangible fixed assets | 21 | €1,869,453 | €2,595,458 | +€726,004 | +38.8% |
| Tangible fixed assets | 22/27 | €63,420 | €249,377 | +€185,957 | +293.2% |
| Plant, machinery and equipment | 23 | €57,661 | €51,323 | -€6,338 | -11.0% |
| Furniture and vehicles | 24 | €5,760 | €6,594 | +€834 | +14.5% |
| Other tangible fixed assets | 26 | - | €191,460 | +€191,460 | |
| Financial fixed assets | 28 | - | €150 | +€150 | |
| Current assets | 29/58 | €1,839,468 | €1,425,528 | -€413,940 | -22.5% |
| Amounts receivable after more than one year | 29 | €63,958 | €97,635 | +€33,677 | +52.7% |
| Trade receivables | 290 | €63,958 | €97,635 | +€33,677 | +52.7% |
| Stocks and contracts in progress | 3 | €61,699 | €0 | -€61,699 | -100.0% |
| Stocks | 30/36 | €61,699 | €0 | -€61,699 | -100.0% |
| Amounts receivable within one year | 40/41 | €515,496 | €204,786 | -€310,710 | -60.3% |
| Trade receivables | 40 | €423,708 | €156,393 | -€267,316 | -63.1% |
| Other amounts receivable | 41 | €91,788 | €48,393 | -€43,395 | -47.3% |
| Current investments | 50/53 | €246,924 | €0 | -€246,924 | -100.0% |
| Cash at bank and in hand | 54/58 | €935,664 | €1,087,875 | +€152,210 | +16.3% |
| Deferred charges and accrued income | 490/1 | €15,726 | €35,232 | +€19,506 | +124.0% |
| Total equity and liabilities | 10/49 | €3,776,366 | €4,272,856 | +€496,489 | +13.1% |
| Equity | 10/15 | €2,520,385 | €2,381,642 | -€138,744 | -5.5% |
| Contributions | 10/11 | €2,790,000 | €2,790,000 | = | 0.0% |
| Capital | 10 | €2,790,000 | €2,790,000 | = | 0.0% |
| Issued capital | 100 | €2,790,000 | €2,790,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,180,595 | -€1,870,882 | -€690,287 | -58.5% |
| Investment grants | 15 | €910,980 | €1,462,524 | +€551,543 | +60.5% |
| Amounts payable | 17/49 | €1,255,981 | €1,891,214 | +€635,233 | +50.6% |
| Amounts payable after more than one year | 17 | €149,309 | €1,093,967 | +€944,658 | +632.7% |
| Financial debts | 170/4 | €149,309 | €1,093,967 | +€944,658 | +632.7% |
| Amounts payable within one year | 42/48 | €1,070,061 | €780,840 | -€289,220 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €44,625 | €66,929 | +€22,304 | +50.0% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €117,069 | €69,481 | -€47,588 | -40.6% |
| Suppliers | 440/4 | €117,069 | €69,481 | -€47,588 | -40.6% |
| Taxes, remuneration and social security | 45 | €33,310 | €47,953 | +€14,642 | +44.0% |
| Remuneration and social security | 454/9 | €33,310 | €47,953 | +€14,642 | +44.0% |
| Other amounts payable | 47/48 | €875,056 | €296,478 | -€578,579 | -66.1% |
| Accrued charges and deferred income | 492/3 | €36,612 | €16,407 | -€20,205 | -55.2% |
| Remuneration, social security and pensions | 62 | €337,419 | €516,595 | +€179,175 | +53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,863 | €342,306 | +€219,443 | +178.6% |
| Other operating charges | 640/8 | €1,585 | €998 | -€586 | -37.0% |
| Non-recurring operating charges | 66A | - | €60 | +€60 | |
| Gross operating margin | 9900 | -€178,554 | -€5,798 | +€172,756 | +96.8% |
| Operating profit (loss) | 9901 | -€640,420 | -€865,756 | -€225,336 | -35.2% |
| Financial income | 75/76B | €71,246 | €166,137 | +€94,891 | +133.2% |
| Recurring financial income | 75 | €71,246 | €166,137 | +€94,891 | +133.2% |
| Financial charges | 65/66B | €14,957 | €23,836 | +€8,879 | +59.4% |
| Recurring financial charges | 65 | €14,957 | €23,836 | +€8,879 | +59.4% |
| Profit (loss) for the period before taxes | 9903 | -€584,132 | -€723,455 | -€139,323 | -23.9% |
| Income taxes | 67/77 | -€15,060 | -€33,168 | -€18,109 | -120.2% |
| Profit (loss) for the period | 9904 | -€569,073 | -€690,287 | -€121,214 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€569,073 | -€690,287 | -€121,214 | -21.3% |
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 6 October 2026 via checked.be.