NEXT +: 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.
NEXT +
Largest movements
- Stocks and contracts -€1.7m
down €1.7m (-92.2%), from €1.8m to €142,026
- Cash -€138,046
down €138,046 (-98.4%), from €140,224 to €2,177
mainly Debts after one year (-€1.0m) and Net result for the year (-€820,985)
- Receivables within one year -€101,698
down €101,698 (-45.6%), from €222,830 to €121,131
of which Other amounts receivable: -€121,996
- Debts after one year -€1.0m
down €1.0m (-47.4%), from €2.2m to €1.2m
of which Financial debts: -€1.8m
- Profit (loss) carried forward -€820,985
down €820,985 (-180.1%), from -€455,768 to -€1.3m
- Tax, wage and social debts -€134,379
no longer reported in 2025 (was €134,379)
- Short-term financial debts +€125,000
new in 2025: €125,000
- Trade debts -€58,141
down €58,141 (-82.6%), from €70,376 to €12,235
- Gross operating margin -€457,679
down €457,679 (-171.1%), from -€267,533 to -€725,212
- Financial charges -€87,887
down €87,887 (-49.3%), from €178,341 to €90,454
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 | €2,191,838 | €266,204 | -€1.9m | -87.9% |
| Fixed assets | 21/28 | - | €870 | +€870 | |
| Tangible fixed assets | 22/27 | - | €870 | +€870 | |
| Furniture and vehicles | 24 | - | €870 | +€870 | |
| Current assets | 29/58 | €2,191,838 | €265,334 | -€1.9m | -87.9% |
| Stocks and contracts in progress | 3 | €1,828,785 | €142,026 | -€1.7m | -92.2% |
| Stocks | 30/36 | €1,828,785 | €142,026 | -€1.7m | -92.2% |
| Amounts receivable within one year | 40/41 | €222,830 | €121,131 | -€101,698 | -45.6% |
| Trade receivables | 40 | €100,000 | €120,298 | +€20,298 | +20.3% |
| Other amounts receivable | 41 | €122,830 | €833 | -€121,996 | -99.3% |
| Cash at bank and in hand | 54/58 | €140,224 | €2,177 | -€138,046 | -98.4% |
| Total equity and liabilities | 10/49 | €2,191,838 | €266,204 | -€1.9m | -87.9% |
| Equity | 10/15 | -€201,768 | -€1,022,753 | -€820,985 | -406.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Legal reserve | 130 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€455,768 | -€1,276,753 | -€820,985 | -180.1% |
| Amounts payable | 17/49 | €2,393,606 | €1,288,956 | -€1.1m | -46.2% |
| Amounts payable after more than one year | 17 | €2,188,649 | €1,150,277 | -€1.0m | -47.4% |
| Financial debts | 170/4 | €1,836,649 | - | -€1.8m | |
| Other amounts payable | 178/9 | €352,000 | €1,150,277 | +€798,277 | +226.8% |
| Amounts payable within one year | 42/48 | €204,957 | €138,679 | -€66,278 | -32.3% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €70,376 | €12,235 | -€58,141 | -82.6% |
| Suppliers | 440/4 | €70,376 | €12,235 | -€58,141 | -82.6% |
| Taxes, remuneration and social security | 45 | €134,379 | - | -€134,379 | |
| Taxes | 450/3 | €134,379 | - | -€134,379 | |
| Other amounts payable | 47/48 | €201 | €1,444 | +€1,243 | +617.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €395 | +€395 | |
| Other operating charges | 640/8 | €10,790 | €4,924 | -€5,866 | -54.4% |
| Gross operating margin | 9900 | -€267,533 | -€725,212 | -€457,679 | -171.1% |
| Operating profit (loss) | 9901 | -€278,324 | -€730,531 | -€452,207 | -162.5% |
| Financial charges | 65/66B | €178,341 | €90,454 | -€87,887 | -49.3% |
| Recurring financial charges | 65 | €178,341 | €90,454 | -€87,887 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€456,665 | -€820,985 | -€364,320 | -79.8% |
| Income taxes | 67/77 | €1,653 | - | -€1,653 | |
| Profit (loss) for the period | 9904 | -€458,318 | -€820,985 | -€362,667 | -79.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€458,318 | -€820,985 | -€362,667 | -79.1% |
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 11 October 2026 via checked.be.