NUMBER ONE: 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.
NUMBER ONE
Largest movements
- Receivables within one year -€375,892
down €375,892 (-97.2%), from €386,556 to €10,665
of which Trade receivables: -€386,550
- Tangible fixed assets -€116,636
down €116,636 (-7.3%), from €1.6m to €1.5m
- Trade debts -€352,036
down €352,036 (-82.0%), from €429,129 to €77,093
- Other debts -€80,571
down €80,571 (-33.6%), from €239,485 to €158,915
- Profit (loss) carried forward -€73,116
down €73,116 (-27.3%), from €267,623 to €194,507
- Gross operating margin -€285,410
down €285,410 (-87.4%), from €326,651 to €41,241
- Taxes -€77,331
down €77,331 (-100.0%), from €77,331 to €0
- Depreciation +€15,804
up €15,804 (+36.6%), from €43,174 to €58,978
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 | €2,187,336 | €1,691,841 | -€495,495 | -22.7% |
| Fixed assets | 21/28 | €1,795,888 | €1,679,252 | -€116,636 | -6.5% |
| Tangible fixed assets | 22/27 | €1,595,888 | €1,479,252 | -€116,636 | -7.3% |
| Land and buildings | 22 | €1,595,888 | €1,479,252 | -€116,636 | -7.3% |
| Financial fixed assets | 28 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €391,448 | €12,589 | -€378,859 | -96.8% |
| Amounts receivable within one year | 40/41 | €386,556 | €10,665 | -€375,892 | -97.2% |
| Trade receivables | 40 | €386,550 | €0 | -€386,550 | -100.0% |
| Other amounts receivable | 41 | €6 | €10,665 | +€10,658 | +169990.0% |
| Cash at bank and in hand | 54/58 | €4,892 | €1,900 | -€2,992 | -61.2% |
| Deferred charges and accrued income | 490/1 | - | €24 | +€24 | |
| Total equity and liabilities | 10/49 | €2,187,336 | €1,691,841 | -€495,495 | -22.7% |
| Equity | 10/15 | €438,667 | €365,550 | -€73,116 | -16.7% |
| Contributions | 10/11 | €20,040 | €20,040 | = | 0.0% |
| Reserves | 13 | €151,004 | €151,004 | = | 0.0% |
| Distributable reserves | 133 | €151,004 | €151,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | €267,623 | €194,507 | -€73,116 | -27.3% |
| Amounts payable | 17/49 | €1,748,669 | €1,326,290 | -€422,379 | -24.2% |
| Amounts payable after more than one year | 17 | €894,487 | €877,972 | -€16,515 | -1.8% |
| Financial debts | 170/4 | €894,487 | €877,972 | -€16,515 | -1.8% |
| Amounts payable within one year | 42/48 | €845,677 | €439,576 | -€406,101 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €76,674 | €91,398 | +€14,724 | +19.2% |
| Trade debts | 44 | €429,129 | €77,093 | -€352,036 | -82.0% |
| Suppliers | 440/4 | €429,129 | €77,093 | -€352,036 | -82.0% |
| Taxes, remuneration and social security | 45 | €100,388 | €112,171 | +€11,782 | +11.7% |
| Taxes | 450/3 | €100,388 | €112,171 | +€11,782 | +11.7% |
| Other amounts payable | 47/48 | €239,485 | €158,915 | -€80,571 | -33.6% |
| Accrued charges and deferred income | 492/3 | €8,506 | €8,742 | +€237 | +2.8% |
| Non-recurring operating income | 76A | - | €182,027 | +€182,027 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,174 | €58,978 | +€15,804 | +36.6% |
| Other operating charges | 640/8 | €20,545 | €19,346 | -€1,199 | -5.8% |
| Gross operating margin | 9900 | €326,651 | €41,241 | -€285,410 | -87.4% |
| Operating profit (loss) | 9901 | €262,932 | -€37,083 | -€300,015 | |
| Financial income | 75/76B | €0 | €24 | +€24 | +23950.0% |
| Recurring financial income | 75 | €0 | €24 | +€24 | +23950.0% |
| Financial charges | 65/66B | €36,149 | €36,057 | -€92 | -0.3% |
| Recurring financial charges | 65 | €36,149 | €36,057 | -€92 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €226,783 | -€73,116 | -€299,899 | |
| Income taxes | 67/77 | €77,331 | €0 | -€77,331 | -100.0% |
| Profit (loss) for the period | 9904 | €149,452 | -€73,116 | -€222,568 | |
| Profit (loss) for the period to be appropriated | 9905 | €149,452 | -€73,116 | -€222,568 |
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 9 October 2026 via checked.be.