NEW TUNES: 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 TUNES
Largest movements
- Tangible fixed assets -€2,911
down €2,911 (-57.8%), from €5,037 to €2,126
of which Plant, machinery and equipment: -€2,353
- Intangible fixed assets -€2,330
down €2,330 (-15.5%), from €15,038 to €12,708
- Stocks and contracts -€1,997
down €1,997 (-5.6%), from €35,877 to €33,880
- Receivables within one year +€1,024
up €1,024 (+126%), from €816 to €1,840
of which Trade receivables: +€799
- Profit (loss) carried forward -€30,451
down €30,451 (-25.6%), from -€118,856 to -€149,306
- Other debts +€25,262
up €25,262 (+15.9%), from €158,972 to €184,234
- Trade debts -€1,155
down €1,155 (-51.8%), from €2,232 to €1,077
- Staff costs -€47,250
no longer reported in 2025 (was €47,250)
- Gross operating margin +€6,104
up €6,104 (+20.4%), from -€29,901 to -€23,797
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 | €63,001 | €56,658 | -€6,343 | -10.1% |
| Fixed assets | 21/28 | €25,181 | €19,940 | -€5,241 | -20.8% |
| Intangible fixed assets | 21 | €15,038 | €12,708 | -€2,330 | -15.5% |
| Tangible fixed assets | 22/27 | €5,037 | €2,126 | -€2,911 | -57.8% |
| Plant, machinery and equipment | 23 | €3,432 | €1,079 | -€2,353 | -68.6% |
| Furniture and vehicles | 24 | €1,605 | €1,047 | -€558 | -34.8% |
| Financial fixed assets | 28 | €5,106 | €5,106 | = | 0.0% |
| Current assets | 29/58 | €37,820 | €36,717 | -€1,103 | -2.9% |
| Stocks and contracts in progress | 3 | €35,877 | €33,880 | -€1,997 | -5.6% |
| Stocks | 30/36 | €35,877 | €33,880 | -€1,997 | -5.6% |
| Amounts receivable within one year | 40/41 | €816 | €1,840 | +€1,024 | +126% |
| Trade receivables | 40 | €581 | €1,379 | +€799 | +138% |
| Other amounts receivable | 41 | €235 | €461 | +€226 | +96.0% |
| Cash at bank and in hand | 54/58 | €1,127 | €997 | -€130 | -11.5% |
| Total equity and liabilities | 10/49 | €63,001 | €56,658 | -€6,343 | -10.1% |
| Equity | 10/15 | -€98,456 | -€128,906 | -€30,451 | -30.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €18,400 | €18,400 | = | 0.0% |
| Distributable reserves | 133 | €18,400 | €18,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€118,856 | -€149,306 | -€30,451 | -25.6% |
| Amounts payable | 17/49 | €161,457 | €185,564 | +€24,107 | +14.9% |
| Amounts payable within one year | 42/48 | €161,457 | €185,564 | +€24,107 | +14.9% |
| Trade debts | 44 | €2,232 | €1,077 | -€1,155 | -51.8% |
| Suppliers | 440/4 | €2,232 | €1,077 | -€1,155 | -51.8% |
| Taxes, remuneration and social security | 45 | €253 | €253 | = | 0.0% |
| Taxes | 450/3 | €253 | €253 | = | 0.0% |
| Other amounts payable | 47/48 | €158,972 | €184,234 | +€25,262 | +15.9% |
| Remuneration, social security and pensions | 62 | €47,250 | - | -€47,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,464 | €5,241 | -€224 | -4.1% |
| Other operating charges | 640/8 | €1,153 | €1,285 | +€132 | +11.4% |
| Gross operating margin | 9900 | -€29,901 | -€23,797 | +€6,104 | +20.4% |
| Operating profit (loss) | 9901 | -€83,770 | -€30,323 | +€53,446 | +63.8% |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €194 | €128 | -€66 | -34.0% |
| Recurring financial charges | 65 | €194 | €128 | -€66 | -34.0% |
| Profit (loss) for the period before taxes | 9903 | -€83,941 | -€30,451 | +€53,490 | +63.7% |
| Profit (loss) for the period | 9904 | -€83,941 | -€30,451 | +€53,490 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,941 | -€30,451 | +€53,490 | +63.7% |
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 22 October 2026 via checked.be.