Missing Link: 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.
Missing Link
Largest movements
- Receivables after one year -€35,500
down €35,500 (-100.0%), from €35,500 to €0
- Cash +€8,131
up €8,131 (+41.0%), from €19,835 to €27,966
mainly Accrued charges and deferred income (+€133,333) and Net result for the year (+€55,365)
- Receivables within one year -€4,726
down €4,726 (-1.8%), from €260,355 to €255,630
of which Other amounts receivable: -€59,900
- Accrued charges and deferred income +€133,333
new in 2025: €133,333
- Profit (loss) carried forward -€119,637
down €119,637 (-68.4%), from €175,002 to €55,365
- Trade debts -€78,767
down €78,767 (-48.8%), from €161,292 to €82,525
- Other debts +€30,102
new in 2025: €30,102
- Staff costs -€6,639
down €6,639 (-100.0%), from €6,639 to €0
- Depreciation -€6,322
down €6,322 (-66.0%), from €9,582 to €3,260
- Financial charges +€5,240
up €5,240 (+63.8%), from €8,214 to €13,455
- Taxes +€3,213
up €3,213 (+19.2%), from €16,773 to €19,986
- Gross operating margin -€2,673
down €2,673 (-2.9%), from €90,928 to €88,255
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.
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 | €349,847 | €316,368 | -€33,479 | -9.6% |
| Fixed assets | 21/28 | €29,999 | €26,739 | -€3,260 | -10.9% |
| Intangible fixed assets | 21 | €1,403 | €329 | -€1,074 | -76.6% |
| Tangible fixed assets | 22/27 | €15,786 | €13,600 | -€2,186 | -13.8% |
| Furniture and vehicles | 24 | €15,786 | €13,600 | -€2,186 | -13.8% |
| Financial fixed assets | 28 | €12,810 | €12,810 | = | 0.0% |
| Current assets | 29/58 | €319,848 | €289,629 | -€30,219 | -9.4% |
| Amounts receivable after more than one year | 29 | €35,500 | €0 | -€35,500 | -100.0% |
| Other amounts receivable | 291 | €35,500 | €0 | -€35,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €260,355 | €255,630 | -€4,726 | -1.8% |
| Trade receivables | 40 | €185,376 | €240,550 | +€55,174 | +29.8% |
| Other amounts receivable | 41 | €74,979 | €15,080 | -€59,900 | -79.9% |
| Cash at bank and in hand | 54/58 | €19,835 | €27,966 | +€8,131 | +41.0% |
| Deferred charges and accrued income | 490/1 | €4,158 | €6,034 | +€1,876 | +45.1% |
| Total equity and liabilities | 10/49 | €349,847 | €316,368 | -€33,479 | -9.6% |
| Equity | 10/15 | €179,002 | €59,365 | -€119,637 | -66.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €175,002 | €55,365 | -€119,637 | -68.4% |
| Amounts payable | 17/49 | €170,846 | €257,003 | +€86,157 | +50.4% |
| Amounts payable within one year | 42/48 | €170,846 | €123,670 | -€47,176 | -27.6% |
| Trade debts | 44 | €161,292 | €82,525 | -€78,767 | -48.8% |
| Suppliers | 440/4 | €161,292 | €82,525 | -€78,767 | -48.8% |
| Taxes, remuneration and social security | 45 | €9,553 | €11,043 | +€1,489 | +15.6% |
| Taxes | 450/3 | €9,553 | €11,043 | +€1,489 | +15.6% |
| Other amounts payable | 47/48 | - | €30,102 | +€30,102 | |
| Accrued charges and deferred income | 492/3 | - | €133,333 | +€133,333 | |
| Remuneration, social security and pensions | 62 | €6,639 | €0 | -€6,639 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,582 | €3,260 | -€6,322 | -66.0% |
| Other operating charges | 640/8 | €811 | €406 | -€406 | -50.0% |
| Gross operating margin | 9900 | €90,928 | €88,255 | -€2,673 | -2.9% |
| Operating profit (loss) | 9901 | €73,895 | €84,589 | +€10,694 | +14.5% |
| Financial income | 75/76B | €5,821 | €4,217 | -€1,604 | -27.6% |
| Recurring financial income | 75 | €5,821 | €4,217 | -€1,604 | -27.6% |
| Financial charges | 65/66B | €8,214 | €13,455 | +€5,240 | +63.8% |
| Recurring financial charges | 65 | €8,214 | €13,455 | +€5,240 | +63.8% |
| Profit (loss) for the period before taxes | 9903 | €71,502 | €75,351 | +€3,849 | +5.4% |
| Income taxes | 67/77 | €16,773 | €19,986 | +€3,213 | +19.2% |
| Profit (loss) for the period | 9904 | €54,729 | €55,365 | +€636 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,729 | €55,365 | +€636 | +1.2% |
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 11 October 2026 via checked.be.