METHOD: 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.
METHOD
Largest movements
- Stocks and contracts +€42,537
up €42,537 (+20.6%), from €206,258 to €248,794
- Cash -€38,362
down €38,362 (-73.6%), from €52,138 to €13,776
mainly Stocks and contracts (-€42,537) and Deferred charges and accrued income (-€7,678)
- Tangible fixed assets -€11,086
down €11,086 (-91.4%), from €12,123 to €1,037
of which Furniture and vehicles: -€10,925
- Deferred charges and accrued income +€7,678
new in 2025: €7,678
- Profit (loss) carried forward -€4,520
down €4,520 (-16.9%), from -€26,734 to -€31,254
- Current portion of long-term debt +€3,439
up €3,439 (+1.4%), from €251,725 to €255,164
- Gross operating margin +€9,007
up €9,007 (+97.8%), from -€9,206 to -€199
- Depreciation -€5,168
down €5,168 (-92.5%), from €5,588 to €420
- Other operating charges -€376
down €376 (-25.9%), from €1,452 to €1,076
- Financial charges -€218
down €218 (-48.2%), from €453 to €235
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 | €270,518 | €271,285 | +€768 | +0.3% |
| Fixed assets | 21/28 | €12,123 | €1,037 | -€11,086 | -91.4% |
| Tangible fixed assets | 22/27 | €12,123 | €1,037 | -€11,086 | -91.4% |
| Furniture and vehicles | 24 | €11,139 | €214 | -€10,925 | -98.1% |
| Other tangible fixed assets | 26 | €983 | €823 | -€160 | -16.3% |
| Current assets | 29/58 | €258,395 | €270,248 | +€11,853 | +4.6% |
| Stocks and contracts in progress | 3 | €206,258 | €248,794 | +€42,537 | +20.6% |
| Stocks | 30/36 | €206,258 | €248,794 | +€42,537 | +20.6% |
| Cash at bank and in hand | 54/58 | €52,138 | €13,776 | -€38,362 | -73.6% |
| Deferred charges and accrued income | 490/1 | - | €7,678 | +€7,678 | |
| Total equity and liabilities | 10/49 | €270,518 | €271,285 | +€768 | +0.3% |
| Equity | 10/15 | €2,806 | -€1,714 | -€4,520 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,540 | €26,540 | = | 0.0% |
| Distributable reserves | 133 | €26,540 | €26,540 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,734 | -€31,254 | -€4,520 | -16.9% |
| Amounts payable | 17/49 | €267,711 | €272,999 | +€5,288 | +2.0% |
| Amounts payable within one year | 42/48 | €262,547 | €267,641 | +€5,093 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €251,725 | €255,164 | +€3,439 | +1.4% |
| Trade debts | 44 | €1,455 | €2,458 | +€1,003 | +68.9% |
| Suppliers | 440/4 | €1,455 | €2,458 | +€1,003 | +68.9% |
| Taxes, remuneration and social security | 45 | €7,022 | €6,320 | -€702 | -10.0% |
| Taxes | 450/3 | €7,022 | €6,320 | -€702 | -10.0% |
| Other amounts payable | 47/48 | €2,345 | €3,698 | +€1,353 | +57.7% |
| Accrued charges and deferred income | 492/3 | €5,164 | €5,358 | +€195 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,588 | €420 | -€5,168 | -92.5% |
| Other operating charges | 640/8 | €1,452 | €1,076 | -€376 | -25.9% |
| Non-recurring operating charges | 66A | - | €2,401 | +€2,401 | |
| Gross operating margin | 9900 | -€9,206 | -€199 | +€9,007 | +97.8% |
| Operating profit (loss) | 9901 | -€16,246 | -€4,096 | +€12,149 | +74.8% |
| Financial income | 75/76B | €6 | €3 | -€4 | -58.7% |
| Recurring financial income | 75 | €6 | €3 | -€4 | -58.7% |
| Financial charges | 65/66B | €453 | €235 | -€218 | -48.2% |
| Recurring financial charges | 65 | €453 | €235 | -€218 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,692 | -€4,328 | +€12,364 | +74.1% |
| Income taxes | 67/77 | €235 | €192 | -€43 | -18.3% |
| Profit (loss) for the period | 9904 | -€16,927 | -€4,520 | +€12,407 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,927 | -€4,520 | +€12,407 | +73.3% |
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 8 October 2026 via checked.be.