MANAGEMENT GOES DIGITAL: 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.
MANAGEMENT GOES DIGITAL
Largest movements
- Cash -€518,500
down €518,500 (-83.7%), from €619,313 to €100,814
mainly Net result for the year (-€812,611) and Investment in fixed assets (net) (-€152,578)
- Receivables within one year +€31,636
up €31,636 (+53.1%), from €59,631 to €91,267
of which Trade receivables: +€17,206
- Deferred charges and accrued income +€31,365
up €31,365 (+256%), from €12,240 to €43,605
- Profit (loss) carried forward -€812,611
down €812,611 (-113%), from -€717,859 to -€1.5m
- Accrued charges and deferred income +€221,072
up €221,072 (+54,761%), from €404 to €221,475
- Debts after one year +€196,098
up €196,098 (+185%), from €106,131 to €302,229
of which Financial debts: +€196,098
- Other debts -€101,650
down €101,650 (-94.7%), from €107,318 to €5,668
- Short-term financial debts -€99,227
down €99,227 (-78.5%), from €126,401 to €27,174
- Staff costs +€247,188
up €247,188 (+63.4%), from €390,092 to €637,281
- Gross operating margin -€223,958
down €223,958 (-99.3%), from €225,425 to €1,467
- Depreciation +€54,607
up €54,607 (+55.5%), from €98,463 to €153,070
- Other operating charges -€10,191
down €10,191 (-67.1%), from €15,188 to €4,998
- Financial charges -€7,150
down €7,150 (-24.9%), from €28,697 to €21,548
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,154,472 | €698,481 | -€455,991 | -39.5% |
| Fixed assets | 21/28 | €463,287 | €462,795 | -€492 | -0.1% |
| Intangible fixed assets | 21 | €452,524 | €459,600 | +€7,076 | +1.6% |
| Tangible fixed assets | 22/27 | €10,563 | €2,995 | -€7,568 | -71.6% |
| Furniture and vehicles | 24 | €10,563 | €2,995 | -€7,568 | -71.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €691,185 | €235,686 | -€455,499 | -65.9% |
| Amounts receivable within one year | 40/41 | €59,631 | €91,267 | +€31,636 | +53.1% |
| Trade receivables | 40 | €55,254 | €72,460 | +€17,206 | +31.1% |
| Other amounts receivable | 41 | €4,378 | €18,808 | +€14,430 | +330% |
| Cash at bank and in hand | 54/58 | €619,313 | €100,814 | -€518,500 | -83.7% |
| Deferred charges and accrued income | 490/1 | €12,240 | €43,605 | +€31,365 | +256% |
| Total equity and liabilities | 10/49 | €1,154,472 | €698,481 | -€455,991 | -39.5% |
| Equity | 10/15 | €615,340 | -€197,271 | -€812,611 | |
| Contributions | 10/11 | €1,333,199 | €1,333,199 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€717,859 | -€1,530,470 | -€812,611 | -113% |
| Amounts payable | 17/49 | €539,132 | €895,752 | +€356,619 | +66.1% |
| Amounts payable after more than one year | 17 | €106,131 | €302,229 | +€196,098 | +185% |
| Financial debts | 170/4 | €106,131 | €302,229 | +€196,098 | +185% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €432,598 | €372,048 | -€60,550 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €91,050 | €113,045 | +€21,995 | +24.2% |
| Financial debts | 43 | €126,401 | €27,174 | -€99,227 | -78.5% |
| Credit institutions | 430/8 | €126,401 | €27,174 | -€99,227 | -78.5% |
| Trade debts | 44 | €64,768 | €102,366 | +€37,597 | +58.0% |
| Suppliers | 440/4 | €64,768 | €102,366 | +€37,597 | +58.0% |
| Taxes, remuneration and social security | 45 | €43,060 | €123,794 | +€80,734 | +187% |
| Taxes | 450/3 | €5,434 | €37,928 | +€32,494 | +598% |
| Remuneration and social security | 454/9 | €37,626 | €85,867 | +€48,241 | +128% |
| Other amounts payable | 47/48 | €107,318 | €5,668 | -€101,650 | -94.7% |
| Accrued charges and deferred income | 492/3 | €404 | €221,475 | +€221,072 | +54,761% |
| Non-recurring operating income | 76A | €2,084 | €2,445 | +€361 | +17.3% |
| Remuneration, social security and pensions | 62 | €390,092 | €637,281 | +€247,188 | +63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,463 | €153,070 | +€54,607 | +55.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €800 | €0 | -€800 | -100% |
| Other operating charges | 640/8 | €15,188 | €4,998 | -€10,191 | -67.1% |
| Gross operating margin | 9900 | €225,425 | €1,467 | -€223,958 | -99.3% |
| Operating profit (loss) | 9901 | -€279,119 | -€793,882 | -€514,763 | -184% |
| Financial income | 75/76B | €814 | €3,545 | +€2,730 | +335% |
| Recurring financial income | 75 | €814 | €3,545 | +€2,730 | +335% |
| Financial charges | 65/66B | €28,697 | €21,548 | -€7,150 | -24.9% |
| Recurring financial charges | 65 | €28,697 | €21,548 | -€7,150 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€307,002 | -€811,885 | -€504,883 | -164% |
| Income taxes | 67/77 | €359 | €726 | +€367 | +102% |
| Profit (loss) for the period | 9904 | -€307,360 | -€812,611 | -€505,250 | -164% |
| Profit (loss) for the period to be appropriated | 9905 | -€307,360 | -€812,611 | -€505,250 | -164% |
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 28 October 2026 via checked.be.