NEW BORDER: what changed
Two fiscal 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.
NEW BORDER
Largest movements
- Receivables within one year -€77,201
down €77,201 (-31.8%), from €242,664 to €165,463
of which Trade receivables: -€79,201
- Cash +€11,897
new in 2025: €11,897
mainly Net result for the year (+€94,011) and Receivables within one year (+€77,201)
- Tangible fixed assets -€4,087
down €4,087 (-87.5%), from €4,670 to €583
of which Furniture and vehicles: -€3,729
- Accrued charges and deferred income -€100,070
no longer reported in 2025 (was €100,070)
- Profit (loss) carried forward +€94,011
up €94,011 (+69.9%), from -€134,508 to -€40,497
- Trade debts -€54,193
down €54,193 (-62.1%), from €87,286 to €33,094
- Other debts -€19,840
down €19,840 (-10.3%), from €192,321 to €172,480
- Tax, wage and social debts +€12,859
up €12,859 (+580.1%), from €2,217 to €15,076
- Financial income +€42,649
new in 2025: €42,649
of which Non-recurring financial income: +€42,622
- Gross operating margin -€20,008
down €20,008 (-25.3%), from €79,043 to €59,035
- Staff costs -€16,194
no longer reported in 2025 (was €16,194)
- Other operating charges +€4,679
up €4,679 (+687.6%), from €681 to €5,360
- Depreciation -€1,913
down €1,913 (-84.2%), from €2,272 to €358
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 | €268,907 | €200,613 | -€68,294 | -25.4% |
| Fixed assets | 21/28 | €25,880 | €21,793 | -€4,087 | -15.8% |
| Tangible fixed assets | 22/27 | €4,670 | €583 | -€4,087 | -87.5% |
| Plant, machinery and equipment | 23 | €941 | €583 | -€358 | -38.1% |
| Furniture and vehicles | 24 | €3,729 | - | -€3,729 | |
| Financial fixed assets | 28 | €21,210 | €21,210 | = | 0.0% |
| Current assets | 29/58 | €243,027 | €178,821 | -€64,207 | -26.4% |
| Amounts receivable within one year | 40/41 | €242,664 | €165,463 | -€77,201 | -31.8% |
| Trade receivables | 40 | €214,088 | €134,887 | -€79,201 | -37.0% |
| Other amounts receivable | 41 | €28,576 | €30,576 | +€2,000 | +7.0% |
| Cash at bank and in hand | 54/58 | - | €11,897 | +€11,897 | |
| Deferred charges and accrued income | 490/1 | €363 | €1,460 | +€1,097 | +302.4% |
| Total equity and liabilities | 10/49 | €268,907 | €200,613 | -€68,294 | -25.4% |
| Equity | 10/15 | -€114,048 | -€20,037 | +€94,011 | +82.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€134,508 | -€40,497 | +€94,011 | +69.9% |
| Amounts payable | 17/49 | €382,955 | €220,650 | -€162,305 | -42.4% |
| Amounts payable within one year | 42/48 | €282,885 | €220,650 | -€62,235 | -22.0% |
| Financial debts | 43 | €1,062 | - | -€1,062 | |
| Other loans | 439 | €1,062 | - | -€1,062 | |
| Trade debts | 44 | €87,286 | €33,094 | -€54,193 | -62.1% |
| Suppliers | 440/4 | €87,286 | €33,094 | -€54,193 | -62.1% |
| Taxes, remuneration and social security | 45 | €2,217 | €15,076 | +€12,859 | +580.1% |
| Taxes | 450/3 | €2,217 | €15,076 | +€12,859 | +580.1% |
| Other amounts payable | 47/48 | €192,321 | €172,480 | -€19,840 | -10.3% |
| Accrued charges and deferred income | 492/3 | €100,070 | - | -€100,070 | |
| Remuneration, social security and pensions | 62 | €16,194 | - | -€16,194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,272 | €358 | -€1,913 | -84.2% |
| Other operating charges | 640/8 | €681 | €5,360 | +€4,679 | +687.6% |
| Gross operating margin | 9900 | €79,043 | €59,035 | -€20,008 | -25.3% |
| Operating profit (loss) | 9901 | €59,897 | €53,317 | -€6,580 | -11.0% |
| Financial income | 75/76B | - | €42,649 | +€42,649 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Non-recurring financial income | 76B | - | €42,622 | +€42,622 | |
| Financial charges | 65/66B | €473 | €335 | -€138 | -29.2% |
| Recurring financial charges | 65 | €473 | €335 | -€138 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €59,424 | €95,631 | +€36,207 | +60.9% |
| Income taxes | 67/77 | €541 | €1,620 | +€1,079 | +199.7% |
| Profit (loss) for the period | 9904 | €58,884 | €94,011 | +€35,127 | +59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,884 | €94,011 | +€35,127 | +59.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.