NO WAY: 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.
NO WAY
Largest movements
- Receivables within one year +€128,740
up €128,740 (+1,463%), from €8,801 to €137,542
of which Trade receivables: +€128,668
- Tangible fixed assets +€12,648
up €12,648 (+30.8%), from €41,047 to €53,696
of which Furniture and vehicles: +€16,345
- Deferred charges and accrued income +€4,063
up €4,063 (+430%), from €946 to €5,009
- Debts after one year +€75,000
new in 2025: €75,000
- Other debts +€74,669
up €74,669 (+154%), from €48,502 to €123,171
- Profit (loss) carried forward -€8,242
down €8,242 (-11.6%), from -€71,312 to -€79,554
- Current portion of long-term debt -€6,600
down €6,600 (-39.3%), from €16,800 to €10,200
- Trade debts +€4,177
up €4,177 (+11.7%), from €35,798 to €39,974
- Gross operating margin -€7,354
down €7,354 (-31.5%), from €23,341 to €15,987
- Staff costs +€1,267
up €1,267 (+773%), from €164 to €1,431
- Depreciation -€573
down €573 (-4.5%), from €12,796 to €12,222
- Financial charges -€285
down €285 (-17.6%), from €1,623 to €1,338
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 | €61,271 | €207,679 | +€146,408 | +239% |
| Fixed assets | 21/28 | €41,047 | €54,196 | +€13,148 | +32.0% |
| Tangible fixed assets | 22/27 | €41,047 | €53,696 | +€12,648 | +30.8% |
| Plant, machinery and equipment | 23 | €4,481 | €784 | -€3,697 | -82.5% |
| Furniture and vehicles | 24 | €36,566 | €52,911 | +€16,345 | +44.7% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €20,223 | €153,483 | +€133,259 | +659% |
| Stocks and contracts in progress | 3 | €10,476 | €10,476 | = | 0.0% |
| Stocks | 30/36 | €10,476 | €10,476 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,801 | €137,542 | +€128,740 | +1,463% |
| Trade receivables | 40 | €8,654 | €137,321 | +€128,668 | +1,487% |
| Other amounts receivable | 41 | €148 | €220 | +€72 | +49.0% |
| Cash at bank and in hand | 54/58 | - | €456 | +€456 | |
| Deferred charges and accrued income | 490/1 | €946 | €5,009 | +€4,063 | +430% |
| Total equity and liabilities | 10/49 | €61,271 | €207,679 | +€146,408 | +239% |
| Equity | 10/15 | -€67,312 | -€75,554 | -€8,242 | -12.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,312 | -€79,554 | -€8,242 | -11.6% |
| Amounts payable | 17/49 | €128,583 | €283,232 | +€154,649 | +120% |
| Amounts payable after more than one year | 17 | - | €75,000 | +€75,000 | |
| Financial debts | 170/4 | - | €75,000 | +€75,000 | |
| Amounts payable within one year | 42/48 | €128,583 | €208,232 | +€79,649 | +61.9% |
| Current portion of amounts payable after more than one year | 42 | €16,800 | €10,200 | -€6,600 | -39.3% |
| Financial debts | 43 | €6,687 | €9,385 | +€2,698 | +40.4% |
| Credit institutions | 430/8 | €6,687 | €9,385 | +€2,698 | +40.4% |
| Trade debts | 44 | €35,798 | €39,974 | +€4,177 | +11.7% |
| Suppliers | 440/4 | €35,798 | €39,974 | +€4,177 | +11.7% |
| Advances received on contracts in progress | 46 | €3,819 | €6,834 | +€3,015 | +78.9% |
| Taxes, remuneration and social security | 45 | €16,978 | €18,668 | +€1,690 | +10.0% |
| Taxes | 450/3 | €16,978 | €18,668 | +€1,690 | +10.0% |
| Other amounts payable | 47/48 | €48,502 | €123,171 | +€74,669 | +154% |
| Non-recurring operating income | 76A | €1,839 | €13,886 | +€12,047 | +655% |
| Remuneration, social security and pensions | 62 | €164 | €1,431 | +€1,267 | +773% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,796 | €12,222 | -€573 | -4.5% |
| Other operating charges | 640/8 | €1,446 | €1,398 | -€49 | -3.4% |
| Non-recurring operating charges | 66A | - | €7,840 | +€7,840 | |
| Gross operating margin | 9900 | €23,341 | €15,987 | -€7,354 | -31.5% |
| Operating profit (loss) | 9901 | €8,935 | -€6,904 | -€15,839 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -96.5% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -96.5% |
| Financial charges | 65/66B | €1,623 | €1,338 | -€285 | -17.6% |
| Recurring financial charges | 65 | €1,623 | €1,338 | -€285 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €7,315 | -€8,242 | -€15,557 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €7,315 | -€8,242 | -€15,557 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,315 | -€8,242 | -€15,557 |
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 24 October 2026 via checked.be.