MAKE SENSE: 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.
MAKE SENSE
Largest movements
- Receivables within one year -€5,849
down €5,849 (-45.1%), from €12,976 to €7,126
of which Trade receivables: -€7,977
- Cash -€3,407
down €3,407 (-28.4%), from €12,009 to €8,602
mainly Other debts (-€10,694) and Tax, wage and social debts (-€4,821)
- Tangible fixed assets +€1,160
up €1,160 (+95.0%), from €1,221 to €2,381
- Other debts -€10,694
no longer reported in 2025 (was €10,694)
- Tax, wage and social debts -€4,821
down €4,821 (-36.6%), from €13,188 to €8,366
- Trade debts +€4,180
up €4,180 (+116.8%), from €3,578 to €7,757
- Profit (loss) carried forward +€3,240
up €3,240 (+99.6%), from -€3,254 to -€14
- Gross operating margin +€5,758
up €5,758 (+101.9%), from €5,652 to €11,410
- Taxes +€1,849
up €1,849 (+237.7%), from €778 to €2,627
- Financial charges +€936
up €936 (+34.1%), from €2,749 to €3,686
- Other operating charges +€452
up €452 (+46.3%), from €976 to €1,429
- Depreciation +€373
up €373 (+294.9%), from €126 to €499
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 | €26,206 | €18,109 | -€8,096 | -30.9% |
| Fixed assets | 21/28 | €1,221 | €2,381 | +€1,160 | +95.0% |
| Tangible fixed assets | 22/27 | €1,221 | €2,381 | +€1,160 | +95.0% |
| Plant, machinery and equipment | 23 | €1,221 | €2,381 | +€1,160 | +95.0% |
| Current assets | 29/58 | €24,985 | €15,728 | -€9,256 | -37.0% |
| Amounts receivable within one year | 40/41 | €12,976 | €7,126 | -€5,849 | -45.1% |
| Trade receivables | 40 | €9,727 | €1,750 | -€7,977 | -82.0% |
| Other amounts receivable | 41 | €3,248 | €5,376 | +€2,128 | +65.5% |
| Cash at bank and in hand | 54/58 | €12,009 | €8,602 | -€3,407 | -28.4% |
| Total equity and liabilities | 10/49 | €26,206 | €18,109 | -€8,096 | -30.9% |
| Equity | 10/15 | -€1,254 | €1,986 | +€3,240 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,254 | -€14 | +€3,240 | +99.6% |
| Amounts payable | 17/49 | €27,459 | €16,123 | -€11,336 | -41.3% |
| Amounts payable within one year | 42/48 | €27,459 | €16,123 | -€11,336 | -41.3% |
| Trade debts | 44 | €3,578 | €7,757 | +€4,180 | +116.8% |
| Suppliers | 440/4 | €3,578 | €7,757 | +€4,180 | +116.8% |
| Taxes, remuneration and social security | 45 | €13,188 | €8,366 | -€4,821 | -36.6% |
| Taxes | 450/3 | €13,188 | €8,366 | -€4,821 | -36.6% |
| Other amounts payable | 47/48 | €10,694 | - | -€10,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126 | €499 | +€373 | +294.9% |
| Other operating charges | 640/8 | €976 | €1,429 | +€452 | +46.3% |
| Gross operating margin | 9900 | €5,652 | €11,410 | +€5,758 | +101.9% |
| Operating profit (loss) | 9901 | €4,549 | €9,483 | +€4,933 | +108.4% |
| Financial income | 75/76B | €78 | €70 | -€8 | -10.5% |
| Recurring financial income | 75 | €78 | €70 | -€8 | -10.5% |
| Financial charges | 65/66B | €2,749 | €3,686 | +€936 | +34.1% |
| Recurring financial charges | 65 | €2,749 | €3,686 | +€936 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €1,878 | €5,866 | +€3,989 | +212.4% |
| Income taxes | 67/77 | €778 | €2,627 | +€1,849 | +237.7% |
| Profit (loss) for the period | 9904 | €1,100 | €3,240 | +€2,140 | +194.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,100 | €3,240 | +€2,140 | +194.5% |
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.