MAKING SENSE: 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.
MAKING SENSE
Largest movements
- Cash -€26,755
down €26,755 (-63.9%), from €41,839 to €15,084
mainly Net result for the year (-€26,152) and Receivables within one year (-€12,537)
- Receivables within one year +€12,537
up €12,537 (+69.5%), from €18,041 to €30,578
of which Trade receivables: +€12,345
- Tangible fixed assets -€6,358
down €6,358 (-19.7%), from €32,322 to €25,964
of which Land and buildings: -€6,356
- Deferred charges and accrued income -€1,283
down €1,283 (-48.8%), from €2,626 to €1,343
- Profit (loss) carried forward -€26,152
down €26,152 (-683.4%), from -€3,827 to -€29,979
- Tax, wage and social debts +€10,297
up €10,297 (+107.7%), from €9,560 to €19,857
of which Taxes: +€10,831
- Trade debts -€6,673
down €6,673 (-82.7%), from €8,072 to €1,398
- Other debts +€2,748
up €2,748 (+356.5%), from €771 to €3,519
- Debts after one year -€2,097
down €2,097 (-7.2%), from €29,018 to €26,921
- Gross operating margin -€13,401
down €13,401, from €7,444 to -€5,957
- Financial charges +€6,177
up €6,177 (+676.8%), from €913 to €7,089
- Other operating charges +€3,087
up €3,087 (+232.6%), from €1,327 to €4,414
- Depreciation -€1,035
down €1,035 (-11.2%), from €9,282 to €8,247
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 | €104,333 | €82,474 | -€21,859 | -21.0% |
| Fixed assets | 21/28 | €41,826 | €35,468 | -€6,358 | -15.2% |
| Tangible fixed assets | 22/27 | €32,322 | €25,964 | -€6,358 | -19.7% |
| Land and buildings | 22 | €27,256 | €20,900 | -€6,356 | -23.3% |
| Plant, machinery and equipment | 23 | €465 | €1,932 | +€1,467 | +315.6% |
| Furniture and vehicles | 24 | €4,601 | €3,132 | -€1,469 | -31.9% |
| Financial fixed assets | 28 | €9,504 | €9,504 | = | 0.0% |
| Current assets | 29/58 | €62,507 | €47,006 | -€15,501 | -24.8% |
| Amounts receivable within one year | 40/41 | €18,041 | €30,578 | +€12,537 | +69.5% |
| Trade receivables | 40 | €18,041 | €30,386 | +€12,345 | +68.4% |
| Other amounts receivable | 41 | - | €192 | +€192 | |
| Cash at bank and in hand | 54/58 | €41,839 | €15,084 | -€26,755 | -63.9% |
| Deferred charges and accrued income | 490/1 | €2,626 | €1,343 | -€1,283 | -48.8% |
| Total equity and liabilities | 10/49 | €104,333 | €82,474 | -€21,859 | -21.0% |
| Equity | 10/15 | €56,912 | €30,760 | -€26,152 | -46.0% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Contributions outside capital | 11 | €6,400 | €6,400 | = | 0.0% |
| Other | 1109/19 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €54,339 | €54,339 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,920 | €1,920 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,920 | €1,920 | = | 0.0% |
| Distributable reserves | 133 | €52,419 | €52,419 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,827 | -€29,979 | -€26,152 | -683.4% |
| Amounts payable | 17/49 | €47,421 | €51,713 | +€4,293 | +9.1% |
| Amounts payable after more than one year | 17 | €29,018 | €26,921 | -€2,097 | -7.2% |
| Financial debts | 170/4 | €29,018 | €26,921 | -€2,097 | -7.2% |
| Amounts payable within one year | 42/48 | €18,402 | €24,792 | +€6,390 | +34.7% |
| Financial debts | 43 | - | €18 | +€18 | |
| Credit institutions | 430/8 | - | €18 | +€18 | |
| Trade debts | 44 | €8,072 | €1,398 | -€6,673 | -82.7% |
| Suppliers | 440/4 | €8,072 | €1,398 | -€6,673 | -82.7% |
| Taxes, remuneration and social security | 45 | €9,560 | €19,857 | +€10,297 | +107.7% |
| Taxes | 450/3 | €4,804 | €15,636 | +€10,831 | +225.5% |
| Remuneration and social security | 454/9 | €4,756 | €4,222 | -€534 | -11.2% |
| Other amounts payable | 47/48 | €771 | €3,519 | +€2,748 | +356.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,282 | €8,247 | -€1,035 | -11.2% |
| Other operating charges | 640/8 | €1,327 | €4,414 | +€3,087 | +232.6% |
| Gross operating margin | 9900 | €7,444 | -€5,957 | -€13,401 | |
| Operating profit (loss) | 9901 | -€3,165 | -€18,618 | -€15,453 | -488.2% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €913 | €7,089 | +€6,177 | +676.8% |
| Recurring financial charges | 65 | €913 | €7,089 | +€6,177 | +676.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,075 | -€25,707 | -€21,632 | -530.9% |
| Income taxes | 67/77 | €436 | €445 | +€9 | +2.1% |
| Profit (loss) for the period | 9904 | -€4,511 | -€26,152 | -€21,641 | -479.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,511 | -€26,152 | -€21,641 | -479.8% |
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 12 October 2026 via checked.be.