METAMORPHOSES: 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.
METAMORPHOSES
Largest movements
- Cash +€22,272
up €22,272 (+56.2%), from €39,627 to €61,898
mainly Receivables within one year (+€18,566) and Trade debts (+€4,854)
- Receivables within one year -€18,566
down €18,566 (-31.5%), from €58,903 to €40,338
of which Trade receivables: -€18,639
- Reserves -€5,986
down €5,986 (-14.0%), from €42,878 to €36,892
- Trade debts +€4,854
up €4,854 (+18.6%), from €26,148 to €31,002
- Other debts +€3,486
up €3,486 (+142%), from €2,461 to €5,947
- Gross operating margin -€5,427
down €5,427 (-72.9%), from €7,444 to €2,017
- Taxes -€1,094
down €1,094 (-75.2%), from €1,455 to €360
- Other operating charges -€679
down €679 (-59.2%), from €1,147 to €468
- Financial charges -€135
down €135 (-49.1%), from €275 to €140
- Depreciation -€103
down €103 (-28.8%), from €358 to €255
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.
Derived cash bridge
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 | €105,866 | €109,400 | +€3,535 | +3.3% |
| Fixed assets | 21/28 | €255 | €0 | -€255 | -100% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €255 | €0 | -€255 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €255 | €0 | -€255 | -100% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €105,611 | €109,400 | +€3,789 | +3.6% |
| Stocks and contracts in progress | 3 | €6,870 | €6,870 | = | 0.0% |
| Stocks | 30/36 | €6,870 | €6,870 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,903 | €40,338 | -€18,566 | -31.5% |
| Trade receivables | 40 | €57,477 | €38,838 | -€18,639 | -32.4% |
| Other amounts receivable | 41 | €1,426 | €1,500 | +€73 | +5.1% |
| Cash at bank and in hand | 54/58 | €39,627 | €61,898 | +€22,272 | +56.2% |
| Deferred charges and accrued income | 490/1 | €211 | €294 | +€83 | +39.3% |
| Total equity and liabilities | 10/49 | €105,866 | €109,400 | +€3,535 | +3.3% |
| Equity | 10/15 | €76,570 | €71,506 | -€5,064 | -6.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €42,878 | €36,892 | -€5,986 | -14.0% |
| Distributable reserves | 133 | €42,878 | €36,892 | -€5,986 | -14.0% |
| Profit (loss) carried forward | 14 | €15,100 | €16,022 | +€922 | +6.1% |
| Amounts payable | 17/49 | €29,295 | €37,894 | +€8,598 | +29.4% |
| Amounts payable within one year | 42/48 | €29,295 | €37,609 | +€8,313 | +28.4% |
| Trade debts | 44 | €26,148 | €31,002 | +€4,854 | +18.6% |
| Suppliers | 440/4 | €26,148 | €31,002 | +€4,854 | +18.6% |
| Taxes, remuneration and social security | 45 | €687 | €660 | -€27 | -3.9% |
| Taxes | 450/3 | €687 | €660 | -€27 | -3.9% |
| Other amounts payable | 47/48 | €2,461 | €5,947 | +€3,486 | +142% |
| Accrued charges and deferred income | 492/3 | - | €285 | +€285 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €358 | €255 | -€103 | -28.8% |
| Other operating charges | 640/8 | €1,147 | €468 | -€679 | -59.2% |
| Gross operating margin | 9900 | €7,444 | €2,017 | -€5,427 | -72.9% |
| Operating profit (loss) | 9901 | €5,939 | €1,295 | -€4,645 | -78.2% |
| Financial income | 75/76B | €61 | €127 | +€67 | +110% |
| Recurring financial income | 75 | €61 | €127 | +€67 | +110% |
| Financial charges | 65/66B | €275 | €140 | -€135 | -49.1% |
| Recurring financial charges | 65 | €275 | €140 | -€135 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €5,725 | €1,282 | -€4,443 | -77.6% |
| Income taxes | 67/77 | €1,455 | €360 | -€1,094 | -75.2% |
| Profit (loss) for the period | 9904 | €4,270 | €922 | -€3,348 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,270 | €922 | -€3,348 | -78.4% |
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 15 October 2026 via checked.be.