MY FIRST: 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.
MY FIRST
Largest movements
- Cash -€7,726
down €7,726 (-12.1%), from €64,025 to €56,299
mainly Trade debts (-€18,860) and Contributions, distributions and other (-€13,898)
- Tangible fixed assets -€5,209
down €5,209 (-27.7%), from €18,820 to €13,612
- Stocks and contracts +€2,068
up €2,068 (+2.0%), from €101,052 to €103,120
- Trade debts -€18,860
down €18,860 (-23.5%), from €80,125 to €61,265
- Other debts +€13,898
up €13,898 (+988%), from €1,407 to €15,306
- Reserves -€3,537
down €3,537 (-9.0%), from €39,370 to €35,833
of which Distributable reserves: -€3,537
- Tax, wage and social debts -€2,670
down €2,670 (-4.3%), from €62,113 to €59,443
of which Remuneration and social security: -€10,428
- Gross operating margin -€21,089
down €21,089 (-13.5%), from €155,739 to €134,650
- Taxes -€5,423
down €5,423 (-48.7%), from €11,125 to €5,702
- Staff costs -€4,654
down €4,654 (-4.1%), from €114,136 to €109,481
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 | €201,615 | €190,447 | -€11,168 | -5.5% |
| Fixed assets | 21/28 | €26,520 | €21,312 | -€5,209 | -19.6% |
| Tangible fixed assets | 22/27 | €18,820 | €13,612 | -€5,209 | -27.7% |
| Plant, machinery and equipment | 23 | €3,120 | €2,354 | -€765 | -24.5% |
| Furniture and vehicles | 24 | €3,378 | €1,487 | -€1,891 | -56.0% |
| Other tangible fixed assets | 26 | €12,322 | €9,771 | -€2,552 | -20.7% |
| Financial fixed assets | 28 | €7,700 | €7,700 | = | 0.0% |
| Current assets | 29/58 | €175,095 | €169,135 | -€5,960 | -3.4% |
| Stocks and contracts in progress | 3 | €101,052 | €103,120 | +€2,068 | +2.0% |
| Stocks | 30/36 | €101,052 | €103,120 | +€2,068 | +2.0% |
| Amounts receivable within one year | 40/41 | €10,018 | €9,716 | -€302 | -3.0% |
| Trade receivables | 40 | €7,862 | €6,474 | -€1,388 | -17.7% |
| Other amounts receivable | 41 | €2,156 | €3,242 | +€1,087 | +50.4% |
| Cash at bank and in hand | 54/58 | €64,025 | €56,299 | -€7,726 | -12.1% |
| Total equity and liabilities | 10/49 | €201,615 | €190,447 | -€11,168 | -5.5% |
| Equity | 10/15 | €57,970 | €54,433 | -€3,537 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,370 | €35,833 | -€3,537 | -9.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €37,510 | €33,973 | -€3,537 | -9.4% |
| Amounts payable | 17/49 | €143,645 | €136,013 | -€7,632 | -5.3% |
| Amounts payable within one year | 42/48 | €143,645 | €136,013 | -€7,632 | -5.3% |
| Trade debts | 44 | €80,125 | €61,265 | -€18,860 | -23.5% |
| Suppliers | 440/4 | €80,125 | €61,265 | -€18,860 | -23.5% |
| Taxes, remuneration and social security | 45 | €62,113 | €59,443 | -€2,670 | -4.3% |
| Taxes | 450/3 | €18,942 | €26,699 | +€7,758 | +41.0% |
| Remuneration and social security | 454/9 | €43,171 | €32,743 | -€10,428 | -24.2% |
| Other amounts payable | 47/48 | €1,407 | €15,306 | +€13,898 | +988% |
| Non-recurring operating income | 76A | - | €1,273 | +€1,273 | |
| Remuneration, social security and pensions | 62 | €114,136 | €109,481 | -€4,654 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,199 | €5,209 | +€9 | +0.2% |
| Other operating charges | 640/8 | €1,470 | €1,788 | +€318 | +21.6% |
| Gross operating margin | 9900 | €155,739 | €134,650 | -€21,089 | -13.5% |
| Operating profit (loss) | 9901 | €34,934 | €18,172 | -€16,762 | -48.0% |
| Financial charges | 65/66B | €2,385 | €2,108 | -€277 | -11.6% |
| Recurring financial charges | 65 | €2,385 | €2,108 | -€277 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €32,548 | €16,064 | -€16,485 | -50.6% |
| Income taxes | 67/77 | €11,125 | €5,702 | -€5,423 | -48.7% |
| Profit (loss) for the period | 9904 | €21,424 | €10,362 | -€11,062 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,424 | €10,362 | -€11,062 | -51.6% |
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 14 October 2026 via checked.be.