NOT BEFORE TEN: 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.
NOT BEFORE TEN
Largest movements
- Receivables within one year -€42,032
down €42,032 (-86.6%), from €48,530 to €6,498
of which Trade receivables: -€36,524
- Cash +€3,262
up €3,262 (+23.0%), from €14,151 to €17,413
mainly Receivables within one year (+€42,032) and Trade debts (+€1,890)
- Deferred charges and accrued income +€2,859
new in 2025: €2,859
- Tangible fixed assets -€1,482
down €1,482 (-86.3%), from €1,718 to €235
- Profit (loss) carried forward -€39,867
down €39,867 (-480%), from -€8,305 to -€48,172
- Trade debts +€1,890
up €1,890 (+32.8%), from €5,757 to €7,647
- Gross operating margin -€30,691
down €30,691 (-60.6%), from €50,623 to €19,932
- Staff costs +€2,454
up €2,454 (+4.5%), from €55,018 to €57,472
- Depreciation -€1,364
down €1,364 (-47.9%), from €2,846 to €1,482
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 | €64,398 | €27,004 | -€37,394 | -58.1% |
| Fixed assets | 21/28 | €1,718 | €235 | -€1,482 | -86.3% |
| Tangible fixed assets | 22/27 | €1,718 | €235 | -€1,482 | -86.3% |
| Plant, machinery and equipment | 23 | €1,718 | €235 | -€1,482 | -86.3% |
| Current assets | 29/58 | €62,681 | €26,769 | -€35,912 | -57.3% |
| Amounts receivable within one year | 40/41 | €48,530 | €6,498 | -€42,032 | -86.6% |
| Trade receivables | 40 | €43,022 | €6,498 | -€36,524 | -84.9% |
| Other amounts receivable | 41 | €5,508 | - | -€5,508 | |
| Cash at bank and in hand | 54/58 | €14,151 | €17,413 | +€3,262 | +23.0% |
| Deferred charges and accrued income | 490/1 | - | €2,859 | +€2,859 | |
| Total equity and liabilities | 10/49 | €64,398 | €27,004 | -€37,394 | -58.1% |
| Equity | 10/15 | €42,497 | €2,630 | -€39,867 | -93.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €32,252 | €32,252 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €30,397 | €30,397 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,305 | -€48,172 | -€39,867 | -480% |
| Amounts payable | 17/49 | €21,901 | €24,374 | +€2,473 | +11.3% |
| Amounts payable within one year | 42/48 | €21,901 | €24,374 | +€2,473 | +11.3% |
| Trade debts | 44 | €5,757 | €7,647 | +€1,890 | +32.8% |
| Suppliers | 440/4 | €5,757 | €7,647 | +€1,890 | +32.8% |
| Taxes, remuneration and social security | 45 | €16,144 | €16,727 | +€583 | +3.6% |
| Taxes | 450/3 | €5,317 | €5,511 | +€194 | +3.7% |
| Remuneration and social security | 454/9 | €10,827 | €11,216 | +€388 | +3.6% |
| Remuneration, social security and pensions | 62 | €55,018 | €57,472 | +€2,454 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,846 | €1,482 | -€1,364 | -47.9% |
| Other operating charges | 640/8 | €905 | €520 | -€386 | -42.6% |
| Gross operating margin | 9900 | €50,623 | €19,932 | -€30,691 | -60.6% |
| Operating profit (loss) | 9901 | -€8,146 | -€39,542 | -€31,396 | -385% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €159 | €324 | +€165 | +104% |
| Recurring financial charges | 65 | €159 | €324 | +€165 | +104% |
| Profit (loss) for the period before taxes | 9903 | -€8,305 | -€39,867 | -€31,561 | -380% |
| Profit (loss) for the period | 9904 | -€8,305 | -€39,867 | -€31,561 | -380% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,305 | -€39,867 | -€31,561 | -380% |
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 17 October 2026 via checked.be.