MODEL LINE: 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.
MODEL LINE
Largest movements
- Receivables within one year -€85,095
down €85,095 (-20.7%), from €412,002 to €326,907
- Tangible fixed assets +€24,172
new in 2025: €24,172
- Cash -€20,891
down €20,891 (-99.1%), from €21,088 to €197
mainly Net result for the year (-€49,021) and Tax, wage and social debts (-€31,246)
- Profit (loss) carried forward -€49,021
down €49,021 (-16.8%), from €292,145 to €243,124
- Tax, wage and social debts -€31,246
down €31,246 (-57.0%), from €54,850 to €23,604
- Other debts -€6,000
no longer reported in 2025 (was €6,000)
- Gross operating margin -€90,998
down €90,998, from €44,142 to -€46,856
- Taxes -€21,947
down €21,947 (-96.3%), from €22,782 to €835
- Depreciation +€620
new in 2025: €620
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 | €433,204 | €351,390 | -€81,814 | -18.9% |
| Fixed assets | 21/28 | €114 | €24,286 | +€24,172 | +21203.5% |
| Tangible fixed assets | 22/27 | - | €24,172 | +€24,172 | |
| Plant, machinery and equipment | 23 | - | €24,172 | +€24,172 | |
| Financial fixed assets | 28 | €114 | €114 | = | 0.0% |
| Current assets | 29/58 | €433,090 | €327,104 | -€105,986 | -24.5% |
| Amounts receivable within one year | 40/41 | €412,002 | €326,907 | -€85,095 | -20.7% |
| Other amounts receivable | 41 | €412,002 | €326,907 | -€85,095 | -20.7% |
| Cash at bank and in hand | 54/58 | €21,088 | €197 | -€20,891 | -99.1% |
| Total equity and liabilities | 10/49 | €433,204 | €351,390 | -€81,814 | -18.9% |
| Equity | 10/15 | €368,734 | €319,713 | -€49,021 | -13.3% |
| Contributions | 10/11 | €68,500 | €68,500 | = | 0.0% |
| Capital | 10 | €68,500 | €68,500 | = | 0.0% |
| Issued capital | 100 | €68,500 | €68,500 | = | 0.0% |
| Reserves | 13 | €8,089 | €8,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,850 | €6,850 | = | 0.0% |
| Legal reserve | 130 | €6,850 | €6,850 | = | 0.0% |
| Distributable reserves | 133 | €1,239 | €1,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | €292,145 | €243,124 | -€49,021 | -16.8% |
| Amounts payable | 17/49 | €64,470 | €31,677 | -€32,793 | -50.9% |
| Amounts payable within one year | 42/48 | €64,470 | €31,677 | -€32,793 | -50.9% |
| Financial debts | 43 | - | €1,921 | +€1,921 | |
| Credit institutions | 430/8 | - | €1,921 | +€1,921 | |
| Trade debts | 44 | €3,620 | €6,152 | +€2,532 | +69.9% |
| Suppliers | 440/4 | €3,620 | €6,152 | +€2,532 | +69.9% |
| Taxes, remuneration and social security | 45 | €54,850 | €23,604 | -€31,246 | -57.0% |
| Taxes | 450/3 | €54,850 | €23,604 | -€31,246 | -57.0% |
| Other amounts payable | 47/48 | €6,000 | - | -€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €620 | +€620 | |
| Other operating charges | 640/8 | €407 | - | -€407 | |
| Gross operating margin | 9900 | €44,142 | -€46,856 | -€90,998 | |
| Operating profit (loss) | 9901 | €43,735 | -€47,476 | -€91,211 | |
| Financial income | 75/76B | €21 | €21 | = | 0.0% |
| Recurring financial income | 75 | €21 | €21 | = | 0.0% |
| Financial charges | 65/66B | €872 | €731 | -€141 | -16.2% |
| Recurring financial charges | 65 | €872 | €731 | -€141 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €42,884 | -€48,186 | -€91,070 | |
| Income taxes | 67/77 | €22,782 | €835 | -€21,947 | -96.3% |
| Profit (loss) for the period | 9904 | €20,102 | -€49,021 | -€69,123 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,102 | -€49,021 | -€69,123 |
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 28 September 2026 via checked.be.