LOGIC POINT: 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.
LOGIC POINT
Largest movements
- Cash -€103,105
down €103,105 (-44.1%), from €233,651 to €130,546
mainly Contributions, distributions and other (-€200,000) and Investment in fixed assets (net) (-€55,081)
- Tangible fixed assets +€45,286
up €45,286 (+10936.3%), from €414 to €45,700
of which Furniture and vehicles: +€45,361
- Current investments -€5,723
down €5,723 (-10.4%), from €54,821 to €49,099
- Profit (loss) carried forward -€127,769
down €127,769 (-93.2%), from €137,147 to €9,378
- Other debts +€51,309
up €51,309 (+42.5%), from €120,807 to €172,117
- Tax, wage and social debts +€15,846
up €15,846 (+66.0%), from €24,006 to €39,852
of which Taxes: +€27,846
- Depreciation +€9,308
up €9,308 (+1914.2%), from €486 to €9,795
- Gross operating margin +€6,644
up €6,644 (+7.3%), from €90,678 to €97,322
- Financial income +€1,535
up €1,535 (+63.0%), from €2,436 to €3,971
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 | €305,828 | €242,335 | -€63,494 | -20.8% |
| Fixed assets | 21/28 | €414 | €45,700 | +€45,286 | +10936.3% |
| Tangible fixed assets | 22/27 | €414 | €45,700 | +€45,286 | +10936.3% |
| Plant, machinery and equipment | 23 | €75 | €0 | -€75 | -100.0% |
| Furniture and vehicles | 24 | €339 | €45,700 | +€45,361 | +13378.9% |
| Current assets | 29/58 | €305,414 | €196,635 | -€108,780 | -35.6% |
| Amounts receivable within one year | 40/41 | €16,222 | €16,428 | +€205 | +1.3% |
| Trade receivables | 40 | €16,222 | €16,428 | +€205 | +1.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €54,821 | €49,099 | -€5,723 | -10.4% |
| Cash at bank and in hand | 54/58 | €233,651 | €130,546 | -€103,105 | -44.1% |
| Deferred charges and accrued income | 490/1 | €720 | €562 | -€157 | -21.9% |
| Total equity and liabilities | 10/49 | €305,828 | €242,335 | -€63,494 | -20.8% |
| Equity | 10/15 | €157,607 | €29,838 | -€127,769 | -81.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,147 | €9,378 | -€127,769 | -93.2% |
| Amounts payable | 17/49 | €148,221 | €212,497 | +€64,276 | +43.4% |
| Amounts payable within one year | 42/48 | €145,221 | €212,447 | +€67,226 | +46.3% |
| Trade debts | 44 | €408 | €479 | +€71 | +17.3% |
| Suppliers | 440/4 | €408 | €479 | +€71 | +17.3% |
| Taxes, remuneration and social security | 45 | €24,006 | €39,852 | +€15,846 | +66.0% |
| Taxes | 450/3 | €12,006 | €39,852 | +€27,846 | +231.9% |
| Remuneration and social security | 454/9 | €12,000 | €0 | -€12,000 | -100.0% |
| Other amounts payable | 47/48 | €120,807 | €172,117 | +€51,309 | +42.5% |
| Accrued charges and deferred income | 492/3 | €3,000 | €50 | -€2,950 | -98.3% |
| Non-recurring operating income | 76A | - | €5,668 | +€5,668 | |
| Remuneration, social security and pensions | 62 | €247 | €255 | +€7 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | €9,795 | +€9,308 | +1914.2% |
| Other operating charges | 640/8 | €1,179 | €693 | -€487 | -41.3% |
| Gross operating margin | 9900 | €90,678 | €97,322 | +€6,644 | +7.3% |
| Operating profit (loss) | 9901 | €88,765 | €86,580 | -€2,185 | -2.5% |
| Financial income | 75/76B | €2,436 | €3,971 | +€1,535 | +63.0% |
| Recurring financial income | 75 | €2,436 | €3,971 | +€1,535 | +63.0% |
| Financial charges | 65/66B | €113 | €123 | +€10 | +9.2% |
| Recurring financial charges | 65 | €113 | €123 | +€10 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €91,088 | €90,427 | -€661 | -0.7% |
| Income taxes | 67/77 | €18,701 | €18,197 | -€504 | -2.7% |
| Profit (loss) for the period | 9904 | €72,387 | €72,231 | -€157 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,387 | €72,231 | -€157 | -0.2% |
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 29 September 2026 via checked.be.