MAKES 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.
MAKES SENSE
Largest movements
- Cash -€168,859
down €168,859 (-84.5%), from €199,798 to €30,939
mainly Contributions, distributions and other (-€197,403) and Other debts (-€9,617)
- Tangible fixed assets -€2,236
down €2,236 (-38.2%), from €5,850 to €3,615
of which Plant, machinery and equipment: -€1,342
- Reserves -€164,127
down €164,127 (-100.0%), from €164,127 to €0
- Other debts -€9,617
down €9,617 (-24.2%), from €39,755 to €30,139
- Tax, wage and social debts +€2,555
up €2,555 (+24.1%), from €10,589 to €13,143
- Gross operating margin -€8,809
down €8,809 (-16.4%), from €53,858 to €45,049
- Financial income -€2,486
down €2,486 (-100.0%), from €2,486 to €0
- Taxes -€2,460
down €2,460 (-22.2%), from €11,079 to €8,619
- Depreciation +€812
up €812 (+57.1%), from €1,424 to €2,236
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 | €216,961 | €45,338 | -€171,623 | -79.1% |
| Fixed assets | 21/28 | €5,850 | €3,615 | -€2,236 | -38.2% |
| Tangible fixed assets | 22/27 | €5,850 | €3,615 | -€2,236 | -38.2% |
| Plant, machinery and equipment | 23 | €3,219 | €1,877 | -€1,342 | -41.7% |
| Furniture and vehicles | 24 | €2,632 | €1,738 | -€894 | -34.0% |
| Current assets | 29/58 | €211,111 | €41,723 | -€169,387 | -80.2% |
| Amounts receivable within one year | 40/41 | €10,825 | €10,784 | -€41 | -0.4% |
| Trade receivables | 40 | €10,540 | €9,403 | -€1,137 | -10.8% |
| Other amounts receivable | 41 | €285 | €1,381 | +€1,096 | +385.2% |
| Cash at bank and in hand | 54/58 | €199,798 | €30,939 | -€168,859 | -84.5% |
| Deferred charges and accrued income | 490/1 | €488 | €0 | -€488 | -100.0% |
| Total equity and liabilities | 10/49 | €216,961 | €45,338 | -€171,623 | -79.1% |
| Equity | 10/15 | €166,127 | €2,000 | -€164,127 | -98.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €164,127 | €0 | -€164,127 | -100.0% |
| Distributable reserves | 133 | €164,127 | €0 | -€164,127 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,834 | €43,338 | -€7,496 | -14.7% |
| Amounts payable within one year | 42/48 | €50,834 | €43,338 | -€7,496 | -14.7% |
| Trade debts | 44 | €490 | €56 | -€434 | -88.6% |
| Suppliers | 440/4 | €490 | €56 | -€434 | -88.6% |
| Taxes, remuneration and social security | 45 | €10,589 | €13,143 | +€2,555 | +24.1% |
| Taxes | 450/3 | €10,589 | €13,143 | +€2,555 | +24.1% |
| Other amounts payable | 47/48 | €39,755 | €30,139 | -€9,617 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,424 | €2,236 | +€812 | +57.1% |
| Other operating charges | 640/8 | €569 | €863 | +€294 | +51.6% |
| Gross operating margin | 9900 | €53,858 | €45,049 | -€8,809 | -16.4% |
| Operating profit (loss) | 9901 | €51,865 | €41,950 | -€9,915 | -19.1% |
| Financial income | 75/76B | €2,486 | €0 | -€2,486 | -100.0% |
| Recurring financial income | 75 | €2,486 | €0 | -€2,486 | -100.0% |
| Financial charges | 65/66B | €55 | €55 | +€1 | +1.2% |
| Recurring financial charges | 65 | €55 | €55 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €54,297 | €41,895 | -€12,402 | -22.8% |
| Income taxes | 67/77 | €11,079 | €8,619 | -€2,460 | -22.2% |
| Profit (loss) for the period | 9904 | €43,218 | €33,276 | -€9,942 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,218 | €33,276 | -€9,942 | -23.0% |
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 5 October 2026 via checked.be.