N.B: 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.
N.B
Largest movements
- Financial fixed assets -€10,000
no longer reported in 2025 (was €10,000)
- Receivables within one year -€8,010
down €8,010 (-14.0%), from €57,296 to €49,286
of which Trade receivables: -€16,036
- Tangible fixed assets -€5,401
down €5,401 (-42.8%), from €12,609 to €7,208
of which Plant, machinery and equipment: -€4,046
- Profit (loss) carried forward -€19,033
down €19,033 (-58.3%), from -€32,639 to -€51,671
- Current portion of long-term debt -€6,340
down €6,340 (-93.0%), from €6,817 to €477
- Other debts +€3,850
up €3,850 (+20.8%), from €18,500 to €22,350
- Tax, wage and social debts -€3,576
down €3,576 (-94.5%), from €3,786 to €210
- Trade debts +€2,089
up €2,089 (+6.2%), from €33,462 to €35,551
- Gross operating margin -€28,277
down €28,277 (-99.5%), from €28,415 to €138
- Staff costs -€2,465
no longer reported in 2025 (was €2,465)
- Depreciation -€2,334
down €2,334 (-30.2%), from €7,735 to €5,401
- Other operating charges +€1,543
up €1,543 (+122%), from €1,265 to €2,807
- Financial charges -€468
down €468 (-32.7%), from €1,431 to €963
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 | €80,901 | €57,046 | -€23,855 | -29.5% |
| Fixed assets | 21/28 | €22,609 | €7,208 | -€15,401 | -68.1% |
| Tangible fixed assets | 22/27 | €12,609 | €7,208 | -€5,401 | -42.8% |
| Plant, machinery and equipment | 23 | €9,296 | €5,250 | -€4,046 | -43.5% |
| Furniture and vehicles | 24 | €1,032 | €27 | -€1,005 | -97.3% |
| Other tangible fixed assets | 26 | €2,281 | €1,931 | -€350 | -15.3% |
| Financial fixed assets | 28 | €10,000 | - | -€10,000 | |
| Current assets | 29/58 | €58,292 | €49,838 | -€8,454 | -14.5% |
| Amounts receivable within one year | 40/41 | €57,296 | €49,286 | -€8,010 | -14.0% |
| Trade receivables | 40 | €16,036 | - | -€16,036 | |
| Other amounts receivable | 41 | €41,260 | €49,286 | +€8,026 | +19.5% |
| Cash at bank and in hand | 54/58 | €979 | €552 | -€427 | -43.6% |
| Deferred charges and accrued income | 490/1 | €17 | - | -€17 | |
| Total equity and liabilities | 10/49 | €80,901 | €57,046 | -€23,855 | -29.5% |
| Equity | 10/15 | €17,491 | -€1,542 | -€19,033 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,530 | €31,530 | = | 0.0% |
| 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 | €29,670 | €29,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,639 | -€51,671 | -€19,033 | -58.3% |
| Amounts payable | 17/49 | €63,410 | €58,588 | -€4,822 | -7.6% |
| Amounts payable after more than one year | 17 | €477 | - | -€477 | |
| Financial debts | 170/4 | €477 | - | -€477 | |
| Amounts payable within one year | 42/48 | €62,934 | €58,588 | -€4,346 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €6,817 | €477 | -€6,340 | -93.0% |
| Financial debts | 43 | €368 | - | -€368 | |
| Credit institutions | 430/8 | €368 | - | -€368 | |
| Trade debts | 44 | €33,462 | €35,551 | +€2,089 | +6.2% |
| Suppliers | 440/4 | €33,462 | €35,551 | +€2,089 | +6.2% |
| Taxes, remuneration and social security | 45 | €3,786 | €210 | -€3,576 | -94.5% |
| Taxes | 450/3 | €3,786 | €210 | -€3,576 | -94.5% |
| Other amounts payable | 47/48 | €18,500 | €22,350 | +€3,850 | +20.8% |
| Remuneration, social security and pensions | 62 | €2,465 | - | -€2,465 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,735 | €5,401 | -€2,334 | -30.2% |
| Other operating charges | 640/8 | €1,265 | €2,807 | +€1,543 | +122% |
| Non-recurring operating charges | 66A | - | €9,999 | +€9,999 | |
| Gross operating margin | 9900 | €28,415 | €138 | -€28,277 | -99.5% |
| Operating profit (loss) | 9901 | €16,950 | -€18,069 | -€35,020 | |
| Financial charges | 65/66B | €1,431 | €963 | -€468 | -32.7% |
| Recurring financial charges | 65 | €1,431 | €963 | -€468 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €15,519 | -€19,033 | -€34,552 | |
| Profit (loss) for the period | 9904 | €15,519 | -€19,033 | -€34,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,519 | -€19,033 | -€34,552 |
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 21 October 2026 via checked.be.