MODEL UP: 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.
MODEL UP
Largest movements
- Cash -€2,779
down €2,779 (-19.1%), from €14,566 to €11,787
mainly Net result for the year (-€1,966) and Trade debts (-€387)
- Receivables within one year +€231
up €231 (+482%), from €48 to €279
- Profit (loss) carried forward -€1,967
down €1,967, from €1,004 to -€963
- Trade debts -€387
no longer reported in 2025 (was €387)
- Tax, wage and social debts -€297
down €297 (-97.5%), from €305 to €8
- Gross operating margin -€2,172
down €2,172, from €753 to -€1,419
- Depreciation -€201
down €201 (-66.1%), from €304 to €103
- Financial charges -€35
down €35 (-44.1%), from €79 to €44
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 | €14,717 | €12,066 | -€2,651 | -18.0% |
| Fixed assets | 21/28 | €103 | - | -€103 | |
| Tangible fixed assets | 22/27 | €103 | - | -€103 | |
| Furniture and vehicles | 24 | €103 | - | -€103 | |
| Current assets | 29/58 | €14,614 | €12,066 | -€2,548 | -17.4% |
| Amounts receivable within one year | 40/41 | €48 | €279 | +€231 | +482% |
| Other amounts receivable | 41 | €48 | €279 | +€231 | +482% |
| Cash at bank and in hand | 54/58 | €14,566 | €11,787 | -€2,779 | -19.1% |
| Total equity and liabilities | 10/49 | €14,717 | €12,066 | -€2,651 | -18.0% |
| Equity | 10/15 | €14,024 | €12,057 | -€1,967 | -14.0% |
| Contributions | 10/11 | €13,020 | €13,020 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,004 | -€963 | -€1,967 | |
| Amounts payable | 17/49 | €693 | €9 | -€684 | -98.7% |
| Amounts payable within one year | 42/48 | €693 | €9 | -€684 | -98.7% |
| Trade debts | 44 | €387 | - | -€387 | |
| Suppliers | 440/4 | €387 | - | -€387 | |
| Taxes, remuneration and social security | 45 | €305 | €8 | -€297 | -97.5% |
| Taxes | 450/3 | €305 | €8 | -€297 | -97.5% |
| Other amounts payable | 47/48 | €1 | €1 | +€0 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304 | €103 | -€201 | -66.1% |
| Other operating charges | 640/8 | €387 | €400 | +€13 | +3.3% |
| Gross operating margin | 9900 | €753 | -€1,419 | -€2,172 | |
| Operating profit (loss) | 9901 | €62 | -€1,922 | -€1,984 | |
| Financial charges | 65/66B | €79 | €44 | -€35 | -44.1% |
| Recurring financial charges | 65 | €79 | €44 | -€35 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | -€17 | -€1,966 | -€1,949 | -11,466% |
| Income taxes | 67/77 | €7 | - | -€7 | |
| Profit (loss) for the period | 9904 | -€24 | -€1,966 | -€1,942 | -8,092% |
| Profit (loss) for the period to be appropriated | 9905 | -€24 | -€1,966 | -€1,942 | -8,092% |
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 19 October 2026 via checked.be.