LOOK LETTERING: 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.
LOOK LETTERING
Largest movements
- Current investments -€54,980
down €54,980 (-25.0%), from €220,026 to €165,046
- Receivables within one year +€21,223
up €21,223 (+77.6%), from €27,364 to €48,586
of which Trade receivables: +€22,498
- Tangible fixed assets -€6,934
down €6,934 (-8.7%), from €79,683 to €72,749
of which Other tangible fixed assets: -€7,200
- Reserves -€103,503
down €103,503 (-43.7%), from €236,581 to €133,078
of which Distributable reserves: -€103,503
- Other debts +€103,503
new in 2025: €103,503
- Tax, wage and social debts -€32,771
down €32,771 (-73.1%), from €44,845 to €12,074
- Profit (loss) carried forward -€10,792
new in 2025: -€10,792
- Trade debts +€9,359
up €9,359 (+77.7%), from €12,050 to €21,410
- Other operating charges +€27,213
up €27,213 (+2,427%), from €1,121 to €28,334
- Taxes -€6,204
no longer reported in 2025 (was €6,204)
- Depreciation -€3,217
down €3,217 (-19.4%), from €16,564 to €13,347
- Gross operating margin -€3,024
down €3,024 (-9.1%), from €33,401 to €30,377
- Financial income -€534
down €534 (-37.5%), from €1,423 to €889
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.
Derived cash bridge
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 | €328,780 | €289,267 | -€39,512 | -12.0% |
| Fixed assets | 21/28 | €79,683 | €72,749 | -€6,934 | -8.7% |
| Tangible fixed assets | 22/27 | €79,683 | €72,749 | -€6,934 | -8.7% |
| Land and buildings | 22 | €2,969 | €9,278 | +€6,310 | +213% |
| Plant, machinery and equipment | 23 | €3,278 | €714 | -€2,564 | -78.2% |
| Furniture and vehicles | 24 | €23,036 | €19,557 | -€3,479 | -15.1% |
| Other tangible fixed assets | 26 | €50,400 | €43,200 | -€7,200 | -14.3% |
| Current assets | 29/58 | €249,097 | €216,518 | -€32,579 | -13.1% |
| Stocks and contracts in progress | 3 | €1,180 | €1,180 | = | 0.0% |
| Stocks | 30/36 | €1,180 | €1,180 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,364 | €48,586 | +€21,223 | +77.6% |
| Trade receivables | 40 | €24,614 | €47,112 | +€22,498 | +91.4% |
| Other amounts receivable | 41 | €2,750 | €1,475 | -€1,275 | -46.4% |
| Current investments | 50/53 | €220,026 | €165,046 | -€54,980 | -25.0% |
| Cash at bank and in hand | 54/58 | €0 | €1,594 | +€1,594 | |
| Deferred charges and accrued income | 490/1 | €527 | €112 | -€415 | -78.7% |
| Total equity and liabilities | 10/49 | €328,780 | €289,267 | -€39,512 | -12.0% |
| Equity | 10/15 | €266,576 | €152,280 | -€114,295 | -42.9% |
| Contributions | 10/11 | €29,995 | €29,995 | = | 0.0% |
| Reserves | 13 | €236,581 | €133,078 | -€103,503 | -43.7% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €233,581 | €130,078 | -€103,503 | -44.3% |
| Profit (loss) carried forward | 14 | - | -€10,792 | -€10,792 | |
| Amounts payable | 17/49 | €62,204 | €136,987 | +€74,783 | +120% |
| Amounts payable within one year | 42/48 | €62,204 | €136,987 | +€74,783 | +120% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,308 | - | -€5,308 | |
| Credit institutions | 430/8 | €5,308 | - | -€5,308 | |
| Trade debts | 44 | €12,050 | €21,410 | +€9,359 | +77.7% |
| Suppliers | 440/4 | €12,050 | €21,410 | +€9,359 | +77.7% |
| Taxes, remuneration and social security | 45 | €44,845 | €12,074 | -€32,771 | -73.1% |
| Taxes | 450/3 | €44,845 | €12,074 | -€32,771 | -73.1% |
| Other amounts payable | 47/48 | - | €103,503 | +€103,503 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,564 | €13,347 | -€3,217 | -19.4% |
| Other operating charges | 640/8 | €1,121 | €28,334 | +€27,213 | +2,427% |
| Gross operating margin | 9900 | €33,401 | €30,377 | -€3,024 | -9.1% |
| Operating profit (loss) | 9901 | €15,715 | -€11,305 | -€27,020 | |
| Financial income | 75/76B | €1,423 | €889 | -€534 | -37.5% |
| Recurring financial income | 75 | €1,423 | €889 | -€534 | -37.5% |
| Financial charges | 65/66B | €556 | €377 | -€180 | -32.3% |
| Recurring financial charges | 65 | €556 | €377 | -€180 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €16,582 | -€10,792 | -€27,374 | |
| Income taxes | 67/77 | €6,204 | - | -€6,204 | |
| Profit (loss) for the period | 9904 | €10,378 | -€10,792 | -€21,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,378 | -€10,792 | -€21,170 |
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 17 October 2026 via checked.be.