OBSERVE-NATURE: 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.
OBSERVE-NATURE
Largest movements
- Cash -€12,694
down €12,694 (-56.9%), from €22,297 to €9,604
mainly Trade debts (-€10,420) and Stocks and contracts (-€6,304)
- Stocks and contracts +€6,304
up €6,304 (+39.9%), from €15,808 to €22,112
- Tangible fixed assets -€3,375
down €3,375 (-52.9%), from €6,374 to €2,999
- Receivables within one year -€3,206
down €3,206 (-32.8%), from €9,784 to €6,579
of which Trade receivables: -€3,271
- Financial fixed assets -€2,934
no longer reported in 2025 (was €2,934)
- Trade debts -€10,420
down €10,420 (-28.3%), from €36,868 to €26,448
- Other debts -€5,386
down €5,386 (-22.9%), from €23,510 to €18,124
- Tax, wage and social debts -€1,907
down €1,907 (-32.3%), from €5,907 to €4,000
- Profit (loss) carried forward +€1,808
up €1,808 (+6.5%), from -€27,687 to -€25,878
- Gross operating margin -€10,606
down €10,606 (-54.1%), from €19,594 to €8,989
- Other operating charges -€7,317
down €7,317 (-93.6%), from €7,817 to €500
- Financial charges -€1,937
down €1,937 (-40.9%), from €4,742 to €2,805
- Depreciation -€437
down €437 (-11.5%), from €3,812 to €3,375
- Taxes +€301
up €301 (+150%), from €200 to €501
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 | €57,198 | €41,294 | -€15,905 | -27.8% |
| Fixed assets | 21/28 | €9,309 | €2,999 | -€6,309 | -67.8% |
| Tangible fixed assets | 22/27 | €6,374 | €2,999 | -€3,375 | -52.9% |
| Furniture and vehicles | 24 | €6,374 | €2,999 | -€3,375 | -52.9% |
| Financial fixed assets | 28 | €2,934 | - | -€2,934 | |
| Current assets | 29/58 | €47,889 | €38,294 | -€9,595 | -20.0% |
| Stocks and contracts in progress | 3 | €15,808 | €22,112 | +€6,304 | +39.9% |
| Stocks | 30/36 | €15,808 | €22,112 | +€6,304 | +39.9% |
| Amounts receivable within one year | 40/41 | €9,784 | €6,579 | -€3,206 | -32.8% |
| Trade receivables | 40 | €3,271 | - | -€3,271 | |
| Other amounts receivable | 41 | €6,513 | €6,579 | +€66 | +1.0% |
| Cash at bank and in hand | 54/58 | €22,297 | €9,604 | -€12,694 | -56.9% |
| Total equity and liabilities | 10/49 | €57,198 | €41,294 | -€15,905 | -27.8% |
| Equity | 10/15 | -€9,087 | -€7,278 | +€1,808 | +19.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,687 | -€25,878 | +€1,808 | +6.5% |
| Amounts payable | 17/49 | €66,285 | €48,572 | -€17,713 | -26.7% |
| Amounts payable within one year | 42/48 | €66,285 | €48,572 | -€17,713 | -26.7% |
| Trade debts | 44 | €36,868 | €26,448 | -€10,420 | -28.3% |
| Suppliers | 440/4 | €36,868 | €26,448 | -€10,420 | -28.3% |
| Taxes, remuneration and social security | 45 | €5,907 | €4,000 | -€1,907 | -32.3% |
| Taxes | 450/3 | €5,907 | €4,000 | -€1,907 | -32.3% |
| Other amounts payable | 47/48 | €23,510 | €18,124 | -€5,386 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,812 | €3,375 | -€437 | -11.5% |
| Other operating charges | 640/8 | €7,817 | €500 | -€7,317 | -93.6% |
| Gross operating margin | 9900 | €19,594 | €8,989 | -€10,606 | -54.1% |
| Operating profit (loss) | 9901 | €7,966 | €5,114 | -€2,852 | -35.8% |
| Financial income | 75/76B | €38 | €0 | -€38 | -99.7% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -99.7% |
| Financial charges | 65/66B | €4,742 | €2,805 | -€1,937 | -40.9% |
| Recurring financial charges | 65 | €4,742 | €2,805 | -€1,937 | -40.9% |
| Profit (loss) for the period before taxes | 9903 | €3,262 | €2,309 | -€953 | -29.2% |
| Income taxes | 67/77 | €200 | €501 | +€301 | +150% |
| Profit (loss) for the period | 9904 | €3,062 | €1,808 | -€1,254 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,062 | €1,808 | -€1,254 | -40.9% |
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 22 October 2026 via checked.be.