MEMO: 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.
MEMO
Largest movements
- Cash -€48,925
down €48,925 (-67.3%), from €72,696 to €23,771
mainly Other debts (-€55,000) and Tax, wage and social debts (-€2,450)
- Tangible fixed assets -€4,039
down €4,039 (-44.0%), from €9,179 to €5,140
of which Furniture and vehicles: -€2,683
- Stocks and contracts +€1,577
up €1,577 (+76.4%), from €2,064 to €3,641
- Other debts -€55,000
no longer reported in 2025 (was €55,000)
- Trade debts +€4,780
up €4,780 (+582.2%), from €821 to €5,601
- Tax, wage and social debts -€2,450
down €2,450 (-87.5%), from €2,800 to €350
- Profit (loss) carried forward +€1,394
new in 2025: €1,394
- Gross operating margin -€9,263
down €9,263 (-50.5%), from €18,328 to €9,065
- Taxes -€2,658
down €2,658 (-88.2%), from €3,015 to €357
- Depreciation -€623
down €623 (-13.4%), from €4,662 to €4,039
- Other operating charges +€228
up €228 (+8.3%), from €2,732 to €2,960
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 | €84,496 | €33,220 | -€51,276 | -60.7% |
| Fixed assets | 21/28 | €9,179 | €5,175 | -€4,004 | -43.6% |
| Tangible fixed assets | 22/27 | €9,179 | €5,140 | -€4,039 | -44.0% |
| Plant, machinery and equipment | 23 | €4,017 | €2,661 | -€1,356 | -33.8% |
| Furniture and vehicles | 24 | €5,162 | €2,479 | -€2,683 | -52.0% |
| Financial fixed assets | 28 | - | €35 | +€35 | |
| Current assets | 29/58 | €75,317 | €28,045 | -€47,272 | -62.8% |
| Stocks and contracts in progress | 3 | €2,064 | €3,641 | +€1,577 | +76.4% |
| Stocks | 30/36 | €2,064 | €3,641 | +€1,577 | +76.4% |
| Amounts receivable within one year | 40/41 | €557 | €633 | +€76 | +13.6% |
| Other amounts receivable | 41 | €557 | €633 | +€76 | +13.6% |
| Cash at bank and in hand | 54/58 | €72,696 | €23,771 | -€48,925 | -67.3% |
| Total equity and liabilities | 10/49 | €84,496 | €33,220 | -€51,276 | -60.7% |
| Equity | 10/15 | €25,875 | €27,269 | +€1,394 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €19,675 | €19,675 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,815 | €17,815 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,394 | +€1,394 | |
| Amounts payable | 17/49 | €58,621 | €5,951 | -€52,670 | -89.8% |
| Amounts payable within one year | 42/48 | €58,621 | €5,951 | -€52,670 | -89.8% |
| Trade debts | 44 | €821 | €5,601 | +€4,780 | +582.2% |
| Suppliers | 440/4 | €821 | €5,601 | +€4,780 | +582.2% |
| Taxes, remuneration and social security | 45 | €2,800 | €350 | -€2,450 | -87.5% |
| Taxes | 450/3 | €2,800 | €350 | -€2,450 | -87.5% |
| Other amounts payable | 47/48 | €55,000 | - | -€55,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,662 | €4,039 | -€623 | -13.4% |
| Other operating charges | 640/8 | €2,732 | €2,960 | +€228 | +8.3% |
| Gross operating margin | 9900 | €18,328 | €9,065 | -€9,263 | -50.5% |
| Operating profit (loss) | 9901 | €10,934 | €2,066 | -€8,868 | -81.1% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €217 | €315 | +€98 | +45.2% |
| Recurring financial charges | 65 | €217 | €315 | +€98 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €10,720 | €1,751 | -€8,969 | -83.7% |
| Income taxes | 67/77 | €3,015 | €357 | -€2,658 | -88.2% |
| Profit (loss) for the period | 9904 | €7,705 | €1,394 | -€6,311 | -81.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,705 | €1,394 | -€6,311 | -81.9% |
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 2 October 2026 via checked.be.