NEW START: 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 START
Largest movements
- Cash -€20,281
down €20,281 (-45.4%), from €44,713 to €24,432
mainly Investment in fixed assets (net) (-€11,050) and Receivables within one year (-€9,946)
- Receivables within one year +€9,946
up €9,946 (+349.1%), from €2,849 to €12,794
of which Other amounts receivable: +€6,378
- Tangible fixed assets +€6,120
up €6,120 (+127.8%), from €4,790 to €10,910
- Stocks and contracts -€2,187
down €2,187 (-42.9%), from €5,099 to €2,912
- Deferred charges and accrued income +€1,450
new in 2025: €1,450
- Other debts -€5,273
no longer reported in 2025 (was €5,273)
- Tax, wage and social debts -€3,300
down €3,300 (-35.7%), from €9,239 to €5,939
of which Taxes: -€5,297
- Profit (loss) carried forward +€2,610
up €2,610 (+7.2%), from €36,205 to €38,814
- Trade debts +€1,011
up €1,011 (+202.5%), from €499 to €1,510
- Staff costs +€15,106
new in 2025: €15,106
- Gross operating margin +€6,296
up €6,296 (+26.0%), from €24,183 to €30,479
- Other operating charges +€3,730
up €3,730 (+3133.2%), from €119 to €3,849
- Depreciation +€3,371
up €3,371 (+216.1%), from €1,559 to €4,930
- Taxes -€2,225
down €2,225 (-35.7%), from €6,239 to €4,014
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 | €57,451 | €52,499 | -€4,952 | -8.6% |
| Fixed assets | 21/28 | €4,790 | €10,910 | +€6,120 | +127.8% |
| Tangible fixed assets | 22/27 | €4,790 | €10,910 | +€6,120 | +127.8% |
| Furniture and vehicles | 24 | €4,790 | €10,910 | +€6,120 | +127.8% |
| Current assets | 29/58 | €52,661 | €41,589 | -€11,072 | -21.0% |
| Stocks and contracts in progress | 3 | €5,099 | €2,912 | -€2,187 | -42.9% |
| Stocks | 30/36 | €5,099 | €2,912 | -€2,187 | -42.9% |
| Amounts receivable within one year | 40/41 | €2,849 | €12,794 | +€9,946 | +349.1% |
| Trade receivables | 40 | €2,769 | €6,336 | +€3,567 | +128.8% |
| Other amounts receivable | 41 | €80 | €6,458 | +€6,378 | +7982.9% |
| Cash at bank and in hand | 54/58 | €44,713 | €24,432 | -€20,281 | -45.4% |
| Deferred charges and accrued income | 490/1 | - | €1,450 | +€1,450 | |
| Total equity and liabilities | 10/49 | €57,451 | €52,499 | -€4,952 | -8.6% |
| Equity | 10/15 | €42,440 | €45,049 | +€2,610 | +6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35 | €35 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35 | €35 | = | 0.0% |
| Reserves not available under the articles | 1311 | €35 | €35 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,205 | €38,814 | +€2,610 | +7.2% |
| Amounts payable | 17/49 | €15,011 | €7,450 | -€7,562 | -50.4% |
| Amounts payable within one year | 42/48 | €15,011 | €7,450 | -€7,562 | -50.4% |
| Trade debts | 44 | €499 | €1,510 | +€1,011 | +202.5% |
| Suppliers | 440/4 | €499 | €1,510 | +€1,011 | +202.5% |
| Taxes, remuneration and social security | 45 | €9,239 | €5,939 | -€3,300 | -35.7% |
| Taxes | 450/3 | €9,239 | €3,942 | -€5,297 | -57.3% |
| Remuneration and social security | 454/9 | - | €1,997 | +€1,997 | |
| Other amounts payable | 47/48 | €5,273 | - | -€5,273 | |
| Remuneration, social security and pensions | 62 | - | €15,106 | +€15,106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,559 | €4,930 | +€3,371 | +216.1% |
| Other operating charges | 640/8 | €119 | €3,849 | +€3,730 | +3133.2% |
| Gross operating margin | 9900 | €24,183 | €30,479 | +€6,296 | +26.0% |
| Operating profit (loss) | 9901 | €22,504 | €6,594 | -€15,910 | -70.7% |
| Financial income | 75/76B | - | €119 | +€119 | |
| Recurring financial income | 75 | - | €119 | +€119 | |
| Financial charges | 65/66B | €88 | €89 | +€1 | +1.7% |
| Recurring financial charges | 65 | €88 | €89 | +€1 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €22,417 | €6,624 | -€15,793 | -70.5% |
| Income taxes | 67/77 | €6,239 | €4,014 | -€2,225 | -35.7% |
| Profit (loss) for the period | 9904 | €16,177 | €2,610 | -€13,567 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,177 | €2,610 | -€13,567 | -83.9% |
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 5 October 2026 via checked.be.