ONE RED: what changed
Two fiscal 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 RED
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Trade debts -€239,260
down €239,260 (-97.0%), from €246,705 to €7,445
- Short-term financial debts +€238,625
up €238,625 (+17352.3%), from €1,375 to €240,000
- Profit (loss) carried forward -€13,958
down €13,958 (-64.4%), from -€21,660 to -€35,618
- Other debts +€10,500
up €10,500 (+6.1%), from €173,500 to €184,000
- Financial charges +€3,494
up €3,494 (+48.6%), from €7,186 to €10,680
- Gross operating margin -€1,427
down €1,427 (-147.5%), from -€968 to -€2,395
- Other operating charges +€68
up €68 (+8.4%), from €815 to €883
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 | €420,445 | €416,751 | -€3,693 | -0.9% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €420,445 | €416,751 | -€3,693 | -0.9% |
| Stocks and contracts in progress | 3 | €410,376 | €410,376 | = | 0.0% |
| Stocks | 30/36 | €410,376 | €410,376 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,419 | €2,660 | +€242 | +10.0% |
| Trade receivables | 40 | €2,419 | €2,419 | = | 0.0% |
| Other amounts receivable | 41 | - | €242 | +€242 | |
| Cash at bank and in hand | 54/58 | €7,649 | €3,715 | -€3,935 | -51.4% |
| Total equity and liabilities | 10/49 | €420,445 | €416,751 | -€3,693 | -0.9% |
| Equity | 10/15 | -€1,136 | -€15,094 | -€13,958 | -1228.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,524 | €1,524 | = | 0.0% |
| Distributable reserves | 133 | €1,524 | €1,524 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,660 | -€35,618 | -€13,958 | -64.4% |
| Amounts payable | 17/49 | €421,580 | €431,845 | +€10,265 | +2.4% |
| Amounts payable within one year | 42/48 | €421,580 | €431,445 | +€9,865 | +2.3% |
| Financial debts | 43 | €1,375 | €240,000 | +€238,625 | +17352.3% |
| Credit institutions | 430/8 | €1,375 | €240,000 | +€238,625 | +17352.3% |
| Trade debts | 44 | €246,705 | €7,445 | -€239,260 | -97.0% |
| Suppliers | 440/4 | €246,705 | €7,445 | -€239,260 | -97.0% |
| Other amounts payable | 47/48 | €173,500 | €184,000 | +€10,500 | +6.1% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Other operating charges | 640/8 | €815 | €883 | +€68 | +8.4% |
| Gross operating margin | 9900 | -€968 | -€2,395 | -€1,427 | -147.5% |
| Operating profit (loss) | 9901 | -€1,783 | -€3,278 | -€1,496 | -83.9% |
| Financial charges | 65/66B | €7,186 | €10,680 | +€3,494 | +48.6% |
| Recurring financial charges | 65 | €7,186 | €10,680 | +€3,494 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,968 | -€13,958 | -€4,990 | -55.6% |
| Profit (loss) for the period | 9904 | -€8,968 | -€13,958 | -€4,990 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,968 | -€13,958 | -€4,990 | -55.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.