Nine and Two: 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.
Nine and Two
Largest movements
- Cash -€13,853
down €13,853 (-63.9%), from €21,693 to €7,839
mainly Net result for the year (-€84,975) and Accrued charges and deferred income (-€3,000)
- Intangible fixed assets -€6,500
down €6,500 (-44.8%), from €14,498 to €7,997
- Stocks and contracts -€5,969
down €5,969 (-12.4%), from €48,117 to €42,148
- Receivables within one year -€5,816
down €5,816 (-81.3%), from €7,154 to €1,338
of which Other amounts receivable: -€4,315
- Deferred charges and accrued income -€2,016
down €2,016 (-92.8%), from €2,173 to €157
- Profit (loss) carried forward -€84,975
down €84,975 (-39.3%), from -€216,106 to -€301,081
- Contributions +€55,620
up €55,620 (+18.6%), from €298,700 to €354,320
- Accrued charges and deferred income -€3,000
no longer reported in 2025 (was €3,000)
- Trade debts -€1,712
down €1,712 (-67.1%), from €2,550 to €838
- Gross operating margin +€21,982
up €21,982 (+22.1%), from -€99,319 to -€77,337
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 | €93,634 | €59,479 | -€34,154 | -36.5% |
| Fixed assets | 21/28 | €14,498 | €7,997 | -€6,500 | -44.8% |
| Intangible fixed assets | 21 | €14,498 | €7,997 | -€6,500 | -44.8% |
| Current assets | 29/58 | €79,136 | €51,482 | -€27,654 | -34.9% |
| Stocks and contracts in progress | 3 | €48,117 | €42,148 | -€5,969 | -12.4% |
| Stocks | 30/36 | €48,117 | €42,148 | -€5,969 | -12.4% |
| Amounts receivable within one year | 40/41 | €7,154 | €1,338 | -€5,816 | -81.3% |
| Trade receivables | 40 | €1,500 | - | -€1,500 | |
| Other amounts receivable | 41 | €5,653 | €1,338 | -€4,315 | -76.3% |
| Cash at bank and in hand | 54/58 | €21,693 | €7,839 | -€13,853 | -63.9% |
| Deferred charges and accrued income | 490/1 | €2,173 | €157 | -€2,016 | -92.8% |
| Total equity and liabilities | 10/49 | €93,634 | €59,479 | -€34,154 | -36.5% |
| Equity | 10/15 | €82,594 | €53,239 | -€29,355 | -35.5% |
| Contributions | 10/11 | €298,700 | €354,320 | +€55,620 | +18.6% |
| Profit (loss) carried forward | 14 | -€216,106 | -€301,081 | -€84,975 | -39.3% |
| Amounts payable | 17/49 | €11,040 | €6,241 | -€4,799 | -43.5% |
| Amounts payable within one year | 42/48 | €8,040 | €6,241 | -€1,799 | -22.4% |
| Trade debts | 44 | €2,550 | €838 | -€1,712 | -67.1% |
| Suppliers | 440/4 | €2,550 | €838 | -€1,712 | -67.1% |
| Taxes, remuneration and social security | 45 | €87 | - | -€87 | |
| Taxes | 450/3 | €87 | - | -€87 | |
| Other amounts payable | 47/48 | €5,403 | €5,403 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,500 | €6,500 | = | 0.0% |
| Other operating charges | 640/8 | €182 | €585 | +€404 | +222% |
| Gross operating margin | 9900 | -€99,319 | -€77,337 | +€21,982 | +22.1% |
| Operating profit (loss) | 9901 | -€106,001 | -€84,423 | +€21,578 | +20.4% |
| Financial income | 75/76B | €6 | €63 | +€57 | +897% |
| Recurring financial income | 75 | €6 | €63 | +€57 | +897% |
| Financial charges | 65/66B | €492 | €615 | +€123 | +24.9% |
| Recurring financial charges | 65 | €492 | €615 | +€123 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | -€106,487 | -€84,975 | +€21,512 | +20.2% |
| Profit (loss) for the period | 9904 | -€106,487 | -€84,975 | +€21,512 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,487 | -€84,975 | +€21,512 | +20.2% |
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 14 October 2026 via checked.be.