More Than Code: 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.
More Than Code
Largest movements
- Cash -€131,483
down €131,483 (-63.9%), from €205,879 to €74,396
mainly Current investments (-€100,000) and Other debts (-€31,819)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€13,194
up €13,194 (+81.5%), from €16,189 to €29,383
of which Trade receivables: +€7,539
- Other debts -€31,819
down €31,819 (-16.8%), from €189,812 to €157,993
- Profit (loss) carried forward +€11,815
new in 2025: €11,815
- Tax, wage and social debts +€3,926
up €3,926 (+432.3%), from €908 to €4,834
- Gross operating margin -€31,755
down €31,755 (-56.8%), from €55,907 to €24,152
- Taxes -€5,655
down €5,655 (-56.8%), from €9,949 to €4,294
- Depreciation -€1,596
down €1,596 (-19.2%), from €8,297 to €6,701
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 | €230,975 | €214,068 | -€16,907 | -7.3% |
| Fixed assets | 21/28 | €8,907 | €10,289 | +€1,382 | +15.5% |
| Tangible fixed assets | 22/27 | €8,907 | €10,289 | +€1,382 | +15.5% |
| Plant, machinery and equipment | 23 | €4,731 | €3,567 | -€1,165 | -24.6% |
| Furniture and vehicles | 24 | €4,176 | €6,723 | +€2,547 | +61.0% |
| Current assets | 29/58 | €222,068 | €203,779 | -€18,289 | -8.2% |
| Amounts receivable within one year | 40/41 | €16,189 | €29,383 | +€13,194 | +81.5% |
| Trade receivables | 40 | €16,033 | €23,572 | +€7,539 | +47.0% |
| Other amounts receivable | 41 | €157 | €5,811 | +€5,655 | +3610.6% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €205,879 | €74,396 | -€131,483 | -63.9% |
| Total equity and liabilities | 10/49 | €230,975 | €214,068 | -€16,907 | -7.3% |
| Equity | 10/15 | €38,621 | €50,436 | +€11,815 | +30.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €35,621 | €35,621 | = | 0.0% |
| Distributable reserves | 133 | €35,621 | €35,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €11,815 | +€11,815 | |
| Amounts payable | 17/49 | €192,354 | €163,632 | -€28,721 | -14.9% |
| Amounts payable within one year | 42/48 | €192,354 | €163,632 | -€28,721 | -14.9% |
| Trade debts | 44 | €1,634 | €805 | -€828 | -50.7% |
| Suppliers | 440/4 | €1,634 | €805 | -€828 | -50.7% |
| Taxes, remuneration and social security | 45 | €908 | €4,834 | +€3,926 | +432.3% |
| Taxes | 450/3 | €908 | €4,834 | +€3,926 | +432.3% |
| Other amounts payable | 47/48 | €189,812 | €157,993 | -€31,819 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,297 | €6,701 | -€1,596 | -19.2% |
| Other operating charges | 640/8 | €689 | €914 | +€225 | +32.6% |
| Gross operating margin | 9900 | €55,907 | €24,152 | -€31,755 | -56.8% |
| Operating profit (loss) | 9901 | €46,921 | €16,538 | -€30,383 | -64.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €548 | €429 | -€119 | -21.7% |
| Recurring financial charges | 65 | €548 | €429 | -€119 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €46,373 | €16,109 | -€30,264 | -65.3% |
| Income taxes | 67/77 | €9,949 | €4,294 | -€5,655 | -56.8% |
| Profit (loss) for the period | 9904 | €36,424 | €11,815 | -€24,609 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,424 | €11,815 | -€24,609 | -67.6% |
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.