New Start Property: 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 Start Property
Largest movements
- Receivables within one year -€31,222
down €31,222 (-19.3%), from €161,889 to €130,668
of which Trade receivables: -€16,574
- Stocks and contracts +€12,231
up €12,231 (+84.5%), from €14,482 to €26,713
of which Stocks: +€6,231
- Tangible fixed assets -€11,290
down €11,290 (-46.2%), from €24,456 to €13,166
of which Furniture and vehicles: -€10,985
- Cash -€8,762
down €8,762 (-82.1%), from €10,671 to €1,909
mainly Trade debts (-€26,363) and Debts after one year (-€17,847)
- Trade debts -€26,363
down €26,363 (-34.2%), from €77,130 to €50,767
- Debts after one year -€17,847
down €17,847 (-41.3%), from €43,209 to €25,361
- Tax, wage and social debts +€5,344
up €5,344 (+3,830%), from €140 to €5,483
- Other debts +€4,815
up €4,815 (+14.3%), from €33,697 to €38,511
- Profit (loss) carried forward -€2,553
down €2,553 (-17.9%), from €14,247 to €11,694
- Gross operating margin +€1,635
up €1,635 (+2.1%), from €76,261 to €77,896
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 | €214,847 | €176,540 | -€38,308 | -17.8% |
| Fixed assets | 21/28 | €24,898 | €13,608 | -€11,290 | -45.3% |
| Tangible fixed assets | 22/27 | €24,456 | €13,166 | -€11,290 | -46.2% |
| Plant, machinery and equipment | 23 | €403 | €97 | -€306 | -75.9% |
| Furniture and vehicles | 24 | €24,053 | €13,069 | -€10,985 | -45.7% |
| Financial fixed assets | 28 | €442 | €442 | = | 0.0% |
| Current assets | 29/58 | €189,949 | €162,932 | -€27,017 | -14.2% |
| Stocks and contracts in progress | 3 | €14,482 | €26,713 | +€12,231 | +84.5% |
| Stocks | 30/36 | €14,482 | €20,713 | +€6,231 | +43.0% |
| Contracts in progress | 37 | - | €6,000 | +€6,000 | |
| Amounts receivable within one year | 40/41 | €161,889 | €130,668 | -€31,222 | -19.3% |
| Trade receivables | 40 | €144,190 | €127,616 | -€16,574 | -11.5% |
| Other amounts receivable | 41 | €17,699 | €3,052 | -€14,647 | -82.8% |
| Cash at bank and in hand | 54/58 | €10,671 | €1,909 | -€8,762 | -82.1% |
| Deferred charges and accrued income | 490/1 | €2,906 | €3,642 | +€736 | +25.3% |
| Total equity and liabilities | 10/49 | €214,847 | €176,540 | -€38,308 | -17.8% |
| Equity | 10/15 | €39,247 | €36,694 | -€2,553 | -6.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,247 | €11,694 | -€2,553 | -17.9% |
| Amounts payable | 17/49 | €175,601 | €139,846 | -€35,755 | -20.4% |
| Amounts payable after more than one year | 17 | €43,209 | €25,361 | -€17,847 | -41.3% |
| Financial debts | 170/4 | €43,209 | €25,361 | -€17,847 | -41.3% |
| Amounts payable within one year | 42/48 | €130,517 | €114,484 | -€16,032 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €19,550 | €19,722 | +€172 | +0.9% |
| Trade debts | 44 | €77,130 | €50,767 | -€26,363 | -34.2% |
| Suppliers | 440/4 | €77,130 | €50,767 | -€26,363 | -34.2% |
| Taxes, remuneration and social security | 45 | €140 | €5,483 | +€5,344 | +3,830% |
| Taxes | 450/3 | €140 | €5,483 | +€5,344 | +3,830% |
| Other amounts payable | 47/48 | €33,697 | €38,511 | +€4,815 | +14.3% |
| Accrued charges and deferred income | 492/3 | €1,875 | - | -€1,875 | |
| Remuneration, social security and pensions | 62 | €65,910 | €65,238 | -€672 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,520 | €11,290 | -€230 | -2.0% |
| Other operating charges | 640/8 | €1,255 | €629 | -€626 | -49.9% |
| Non-recurring operating charges | 66A | €301 | €1,412 | +€1,112 | +370% |
| Gross operating margin | 9900 | €76,261 | €77,896 | +€1,635 | +2.1% |
| Operating profit (loss) | 9901 | -€2,726 | -€673 | +€2,052 | +75.3% |
| Financial income | 75/76B | €571 | €116 | -€456 | -79.7% |
| Recurring financial income | 75 | €571 | €116 | -€456 | -79.7% |
| Financial charges | 65/66B | €1,549 | €1,502 | -€47 | -3.0% |
| Recurring financial charges | 65 | €1,549 | €1,502 | -€47 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,703 | -€2,060 | +€1,644 | +44.4% |
| Income taxes | 67/77 | €140 | €493 | +€354 | +253% |
| Profit (loss) for the period | 9904 | -€3,843 | -€2,553 | +€1,290 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,843 | -€2,553 | +€1,290 | +33.6% |
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 26 October 2026 via checked.be.