NEVER MIND THE SMALL PRINT: 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.
NEVER MIND THE SMALL PRINT
Largest movements
- Cash -€19,234
down €19,234 (-42.7%), from €45,017 to €25,783
mainly Net result for the year (-€29,513) and Trade debts (-€1,799)
- Receivables within one year -€8,466
down €8,466 (-33.1%), from €25,559 to €17,093
of which Trade receivables: -€8,492
- Tangible fixed assets -€2,060
down €2,060 (-34.5%), from €5,971 to €3,911
of which Plant, machinery and equipment: -€1,067
- Profit (loss) carried forward -€29,513
down €29,513 (-223%), from -€13,213 to -€42,725
- Trade debts -€1,799
down €1,799 (-63.7%), from €2,823 to €1,024
- Tax, wage and social debts +€1,665
up €1,665 (+84.0%), from €1,981 to €3,647
- Gross operating margin -€14,531
down €14,531, from €528 to -€14,003
- Financial charges +€10,791
up €10,791 (+18,967%), from €57 to €10,848
- Depreciation -€2,409
down €2,409 (-53.9%), from €4,469 to €2,060
- Other operating charges +€183
up €183 (+28.7%), from €638 to €821
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 | €82,102 | €52,455 | -€29,647 | -36.1% |
| Fixed assets | 21/28 | €9,421 | €7,361 | -€2,060 | -21.9% |
| Tangible fixed assets | 22/27 | €5,971 | €3,911 | -€2,060 | -34.5% |
| Plant, machinery and equipment | 23 | €1,922 | €855 | -€1,067 | -55.5% |
| Furniture and vehicles | 24 | €2,043 | €1,334 | -€709 | -34.7% |
| Other tangible fixed assets | 26 | €2,006 | €1,723 | -€284 | -14.1% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €72,681 | €45,094 | -€27,587 | -38.0% |
| Stocks and contracts in progress | 3 | €1,840 | €1,951 | +€111 | +6.0% |
| Stocks | 30/36 | €1,840 | €1,951 | +€111 | +6.0% |
| Amounts receivable within one year | 40/41 | €25,559 | €17,093 | -€8,466 | -33.1% |
| Trade receivables | 40 | €23,038 | €14,545 | -€8,492 | -36.9% |
| Other amounts receivable | 41 | €2,521 | €2,547 | +€26 | +1.0% |
| Cash at bank and in hand | 54/58 | €45,017 | €25,783 | -€19,234 | -42.7% |
| Deferred charges and accrued income | 490/1 | €265 | €267 | +€2 | +0.9% |
| Total equity and liabilities | 10/49 | €82,102 | €52,455 | -€29,647 | -36.1% |
| Equity | 10/15 | €77,298 | €47,785 | -€29,513 | -38.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €70,510 | €70,510 | = | 0.0% |
| Distributable reserves | 133 | €70,510 | €70,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,213 | -€42,725 | -€29,513 | -223% |
| Amounts payable | 17/49 | €4,804 | €4,670 | -€134 | -2.8% |
| Amounts payable within one year | 42/48 | €4,804 | €4,670 | -€134 | -2.8% |
| Trade debts | 44 | €2,823 | €1,024 | -€1,799 | -63.7% |
| Suppliers | 440/4 | €2,823 | €1,024 | -€1,799 | -63.7% |
| Taxes, remuneration and social security | 45 | €1,981 | €3,647 | +€1,665 | +84.0% |
| Taxes | 450/3 | €1,981 | €3,647 | +€1,665 | +84.0% |
| Non-recurring operating income | 76A | €690 | - | -€690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,469 | €2,060 | -€2,409 | -53.9% |
| Other operating charges | 640/8 | €638 | €821 | +€183 | +28.7% |
| Non-recurring operating charges | 66A | - | €1,650 | +€1,650 | |
| Gross operating margin | 9900 | €528 | -€14,003 | -€14,531 | |
| Operating profit (loss) | 9901 | -€4,578 | -€18,533 | -€13,955 | -305% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €57 | €10,848 | +€10,791 | +18,967% |
| Recurring financial charges | 65 | €57 | €10,848 | +€10,791 | +18,967% |
| Profit (loss) for the period before taxes | 9903 | -€4,635 | -€29,372 | -€24,736 | -534% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.1% |
| Profit (loss) for the period | 9904 | -€4,763 | -€29,513 | -€24,749 | -520% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,763 | -€29,513 | -€24,749 | -520% |
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 1 November 2026 via checked.be.