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.
ONE
Largest movements
- Receivables within one year -€228,711
down €228,711 (-55.6%), from €411,700 to €182,989
of which Trade receivables: -€243,464
- Cash -€10,035
down €10,035 (-18.1%), from €55,592 to €45,557
mainly Trade debts (-€122,610) and Net result for the year (-€48,332)
- Stocks and contracts -€8,248
down €8,248 (-7.1%), from €115,751 to €107,502
- Trade debts -€122,610
down €122,610 (-40.4%), from €303,520 to €180,910
- Profit (loss) carried forward -€48,332
down €48,332 (-12.4%), from -€388,703 to -€437,035
- Other debts -€42,750
down €42,750 (-21.7%), from €197,303 to €154,552
- Tax, wage and social debts -€24,430
down €24,430 (-47.6%), from €51,319 to €26,888
of which Remuneration and social security: -€13,732
- Accrued charges and deferred income -€6,258
down €6,258 (-57.8%), from €10,829 to €4,571
- Gross operating margin -€68,386
down €68,386 (-47.0%), from €145,627 to €77,241
- Taxes -€12,663
down €12,663 (-97.8%), from €12,952 to €289
- Financial charges -€12,657
down €12,657 (-30.0%), from €42,128 to €29,471
- Write-downs -€10,819
down €10,819 (-100.0%), from €10,819 to €0
- Staff costs -€3,052
down €3,052 (-3.3%), from €91,240 to €88,188
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 | €597,134 | €352,753 | -€244,380 | -40.9% |
| Fixed assets | 21/28 | €13,045 | €11,605 | -€1,440 | -11.0% |
| Tangible fixed assets | 22/27 | €5,494 | €4,054 | -€1,440 | -26.2% |
| Plant, machinery and equipment | 23 | €1,124 | €384 | -€740 | -65.8% |
| Other tangible fixed assets | 26 | €4,370 | €3,670 | -€700 | -16.0% |
| Financial fixed assets | 28 | €7,551 | €7,551 | = | 0.0% |
| Current assets | 29/58 | €584,089 | €341,148 | -€242,940 | -41.6% |
| Stocks and contracts in progress | 3 | €115,751 | €107,502 | -€8,248 | -7.1% |
| Stocks | 30/36 | €115,751 | €107,502 | -€8,248 | -7.1% |
| Amounts receivable within one year | 40/41 | €411,700 | €182,989 | -€228,711 | -55.6% |
| Trade receivables | 40 | €411,700 | €168,236 | -€243,464 | -59.1% |
| Other amounts receivable | 41 | - | €14,753 | +€14,753 | |
| Cash at bank and in hand | 54/58 | €55,592 | €45,557 | -€10,035 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,046 | €5,100 | +€4,054 | +387.4% |
| Total equity and liabilities | 10/49 | €597,134 | €352,753 | -€244,380 | -40.9% |
| Equity | 10/15 | -€260,837 | -€309,169 | -€48,332 | -18.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,266 | €109,266 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €107,406 | €107,406 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€388,703 | -€437,035 | -€48,332 | -12.4% |
| Amounts payable | 17/49 | €857,971 | €661,922 | -€196,049 | -22.9% |
| Amounts payable within one year | 42/48 | €847,141 | €657,351 | -€189,791 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €45,000 | €45,000 | = | 0.0% |
| Financial debts | 43 | €250,000 | €250,000 | -€0 | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | -€0 | 0.0% |
| Trade debts | 44 | €303,520 | €180,910 | -€122,610 | -40.4% |
| Suppliers | 440/4 | €303,520 | €180,910 | -€122,610 | -40.4% |
| Taxes, remuneration and social security | 45 | €51,319 | €26,888 | -€24,430 | -47.6% |
| Taxes | 450/3 | €21,941 | €11,243 | -€10,698 | -48.8% |
| Remuneration and social security | 454/9 | €29,378 | €15,646 | -€13,732 | -46.7% |
| Other amounts payable | 47/48 | €197,303 | €154,552 | -€42,750 | -21.7% |
| Accrued charges and deferred income | 492/3 | €10,829 | €4,571 | -€6,258 | -57.8% |
| Remuneration, social security and pensions | 62 | €91,240 | €88,188 | -€3,052 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440 | €1,440 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,819 | €0 | -€10,819 | -100.0% |
| Other operating charges | 640/8 | €4,627 | €6,252 | +€1,625 | +35.1% |
| Gross operating margin | 9900 | €145,627 | €77,241 | -€68,386 | -47.0% |
| Operating profit (loss) | 9901 | €37,501 | -€18,639 | -€56,139 | |
| Financial income | 75/76B | €2,851 | €67 | -€2,784 | -97.6% |
| Recurring financial income | 75 | €2,851 | €67 | -€2,784 | -97.6% |
| Financial charges | 65/66B | €42,128 | €29,471 | -€12,657 | -30.0% |
| Recurring financial charges | 65 | €42,128 | €29,471 | -€12,657 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,776 | -€48,042 | -€46,267 | -2605.3% |
| Income taxes | 67/77 | €12,952 | €289 | -€12,663 | -97.8% |
| Profit (loss) for the period | 9904 | -€14,728 | -€48,332 | -€33,604 | -228.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,728 | -€48,332 | -€33,604 | -228.2% |
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 12 October 2026 via checked.be.