NEW MADE: 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.
NEW MADE
Largest movements
- Receivables within one year +€10,363
up €10,363 (+114%), from €9,092 to €19,455
of which Other amounts receivable: +€15,230
- Tangible fixed assets -€9,704
down €9,704 (-18.1%), from €53,514 to €43,810
of which Other tangible fixed assets: -€4,883
- Formation expenses -€7,194
down €7,194 (-16.7%), from €43,162 to €35,969
- Stocks and contracts +€3,063
up €3,063 (+35.3%), from €8,687 to €11,751
- Intangible fixed assets -€1,800
down €1,800 (-12.1%), from €14,829 to €13,029
- Tax, wage and social debts +€31,754
up €31,754 (+39.4%), from €80,577 to €112,331
of which Remuneration and social security: +€31,006
- Trade debts -€22,789
down €22,789 (-17.1%), from €133,160 to €110,371
- Profit (loss) carried forward -€14,372
down €14,372 (-8.8%), from -€163,187 to -€177,559
- Debts after one year -€9,937
down €9,937 (-30.8%), from €32,236 to €22,299
- Accrued charges and deferred income +€7,190
up €7,190 (+105%), from €6,852 to €14,042
- Staff costs -€57,560
down €57,560 (-16.5%), from €348,616 to €291,057
- Gross operating margin +€29,235
up €29,235 (+9.8%), from €299,226 to €328,461
- Other operating charges +€14,424
up €14,424 (+262%), from €5,509 to €19,932
- Financial charges -€9,143
down €9,143 (-49.0%), from €18,651 to €9,508
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 | €131,672 | €126,837 | -€4,835 | -3.7% |
| Formation expenses | 20 | €43,162 | €35,969 | -€7,194 | -16.7% |
| Fixed assets | 21/28 | €69,699 | €58,945 | -€10,754 | -15.4% |
| Intangible fixed assets | 21 | €14,829 | €13,029 | -€1,800 | -12.1% |
| Tangible fixed assets | 22/27 | €53,514 | €43,810 | -€9,704 | -18.1% |
| Plant, machinery and equipment | 23 | €4,464 | €2,632 | -€1,832 | -41.0% |
| Furniture and vehicles | 24 | €12,284 | €9,295 | -€2,989 | -24.3% |
| Other tangible fixed assets | 26 | €36,766 | €31,883 | -€4,883 | -13.3% |
| Financial fixed assets | 28 | €1,356 | €2,106 | +€750 | +55.3% |
| Current assets | 29/58 | €18,811 | €31,923 | +€13,113 | +69.7% |
| Stocks and contracts in progress | 3 | €8,687 | €11,751 | +€3,063 | +35.3% |
| Stocks | 30/36 | €8,687 | €11,751 | +€3,063 | +35.3% |
| Amounts receivable within one year | 40/41 | €9,092 | €19,455 | +€10,363 | +114% |
| Trade receivables | 40 | €7,273 | €2,405 | -€4,868 | -66.9% |
| Other amounts receivable | 41 | €1,819 | €17,050 | +€15,230 | +837% |
| Cash at bank and in hand | 54/58 | €1,031 | €531 | -€500 | -48.5% |
| Deferred charges and accrued income | 490/1 | - | €187 | +€187 | |
| Total equity and liabilities | 10/49 | €131,672 | €126,837 | -€4,835 | -3.7% |
| Equity | 10/15 | -€155,127 | -€169,499 | -€14,372 | -9.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,187 | -€177,559 | -€14,372 | -8.8% |
| Amounts payable | 17/49 | €286,799 | €296,336 | +€9,536 | +3.3% |
| Amounts payable after more than one year | 17 | €32,236 | €22,299 | -€9,937 | -30.8% |
| Financial debts | 170/4 | €32,236 | €22,299 | -€9,937 | -30.8% |
| Amounts payable within one year | 42/48 | €247,712 | €259,996 | +€12,284 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €9,472 | €9,937 | +€465 | +4.9% |
| Financial debts | 43 | €7,157 | €3,856 | -€3,301 | -46.1% |
| Credit institutions | 430/8 | €7,157 | €3,856 | -€3,301 | -46.1% |
| Trade debts | 44 | €133,160 | €110,371 | -€22,789 | -17.1% |
| Suppliers | 440/4 | €133,160 | €110,371 | -€22,789 | -17.1% |
| Taxes, remuneration and social security | 45 | €80,577 | €112,331 | +€31,754 | +39.4% |
| Taxes | 450/3 | €47,047 | €47,794 | +€748 | +1.6% |
| Remuneration and social security | 454/9 | €33,530 | €64,537 | +€31,006 | +92.5% |
| Other amounts payable | 47/48 | €17,345 | €23,500 | +€6,155 | +35.5% |
| Accrued charges and deferred income | 492/3 | €6,852 | €14,042 | +€7,190 | +105% |
| Remuneration, social security and pensions | 62 | €348,616 | €291,057 | -€57,560 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,213 | €19,571 | +€358 | +1.9% |
| Other operating charges | 640/8 | €5,509 | €19,932 | +€14,424 | +262% |
| Non-recurring operating charges | 66A | - | €2,900 | +€2,900 | |
| Gross operating margin | 9900 | €299,226 | €328,461 | +€29,235 | +9.8% |
| Operating profit (loss) | 9901 | -€74,112 | -€5,000 | +€69,112 | +93.3% |
| Financial income | 75/76B | €76 | €136 | +€60 | +78.6% |
| Recurring financial income | 75 | €76 | €136 | +€60 | +78.6% |
| Financial charges | 65/66B | €18,651 | €9,508 | -€9,143 | -49.0% |
| Recurring financial charges | 65 | €18,651 | €9,508 | -€9,143 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | -€92,687 | -€14,372 | +€78,315 | +84.5% |
| Profit (loss) for the period | 9904 | -€92,687 | -€14,372 | +€78,315 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,687 | -€14,372 | +€78,315 | +84.5% |
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 17 October 2026 via checked.be.