Not Only White: 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 Only White
Largest movements
- Tangible fixed assets -€8,382
no longer reported in 2025 (was €8,382)
- Stocks and contracts +€5,815
up €5,815 (+17.3%), from €33,567 to €39,382
- Receivables within one year +€5,463
up €5,463 (+125%), from €4,377 to €9,840
of which Trade receivables: +€5,462
- Cash -€5,178
down €5,178 (-48.7%), from €10,641 to €5,464
mainly Trade debts (-€14,664) and Tax, wage and social debts (-€10,185)
- Deferred charges and accrued income -€741
no longer reported in 2025 (was €741)
- Profit (loss) carried forward +€15,512
up €15,512 (+59.6%), from -€26,044 to -€10,531
- Trade debts -€14,664
down €14,664 (-64.1%), from €22,888 to €8,223
- Tax, wage and social debts -€10,185
down €10,185 (-93.8%), from €10,864 to €679
of which Remuneration and social security: -€9,005
- Current portion of long-term debt +€6,000
new in 2025: €6,000
- Staff costs -€44,398
down €44,398 (-68.9%), from €64,426 to €20,027
- Gross operating margin -€17,368
down €17,368 (-27.9%), from €62,348 to €44,980
- Depreciation -€4,117
down €4,117 (-32.9%), from €12,498 to €8,382
- Other operating charges +€873
up €873 (+693%), from €126 to €999
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 | €57,708 | €54,685 | -€3,023 | -5.2% |
| Fixed assets | 21/28 | €8,382 | - | -€8,382 | |
| Tangible fixed assets | 22/27 | €8,382 | - | -€8,382 | |
| Furniture and vehicles | 24 | €8,382 | - | -€8,382 | |
| Current assets | 29/58 | €49,326 | €54,685 | +€5,359 | +10.9% |
| Stocks and contracts in progress | 3 | €33,567 | €39,382 | +€5,815 | +17.3% |
| Stocks | 30/36 | €33,567 | €39,382 | +€5,815 | +17.3% |
| Amounts receivable within one year | 40/41 | €4,377 | €9,840 | +€5,463 | +125% |
| Trade receivables | 40 | €3,357 | €8,819 | +€5,462 | +163% |
| Other amounts receivable | 41 | €1,020 | €1,021 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €10,641 | €5,464 | -€5,178 | -48.7% |
| Deferred charges and accrued income | 490/1 | €741 | - | -€741 | |
| Total equity and liabilities | 10/49 | €57,708 | €54,685 | -€3,023 | -5.2% |
| Equity | 10/15 | €23,956 | €39,469 | +€15,512 | +64.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,044 | -€10,531 | +€15,512 | +59.6% |
| Amounts payable | 17/49 | €33,752 | €15,217 | -€18,535 | -54.9% |
| Amounts payable within one year | 42/48 | €33,752 | €15,217 | -€18,535 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,000 | +€6,000 | |
| Trade debts | 44 | €22,888 | €8,223 | -€14,664 | -64.1% |
| Suppliers | 440/4 | €22,888 | €8,223 | -€14,664 | -64.1% |
| Taxes, remuneration and social security | 45 | €10,864 | €679 | -€10,185 | -93.8% |
| Taxes | 450/3 | €1,859 | €679 | -€1,181 | -63.5% |
| Remuneration and social security | 454/9 | €9,005 | - | -€9,005 | |
| Other amounts payable | 47/48 | - | €315 | +€315 | |
| Remuneration, social security and pensions | 62 | €64,426 | €20,027 | -€44,398 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,498 | €8,382 | -€4,117 | -32.9% |
| Other operating charges | 640/8 | €126 | €999 | +€873 | +693% |
| Gross operating margin | 9900 | €62,348 | €44,980 | -€17,368 | -27.9% |
| Operating profit (loss) | 9901 | -€14,702 | €15,572 | +€30,274 | |
| Financial income | 75/76B | €85 | €0 | -€85 | -100.0% |
| Recurring financial income | 75 | €85 | €0 | -€85 | -100.0% |
| Financial charges | 65/66B | €60 | €59 | -€1 | -1.0% |
| Recurring financial charges | 65 | €60 | €59 | -€1 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,677 | €15,512 | +€30,189 | |
| Profit (loss) for the period | 9904 | -€14,677 | €15,512 | +€30,189 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,677 | €15,512 | +€30,189 |
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 31 October 2026 via checked.be.