ONE STEP IN ADVANCE: what changed
ONE STEP IN ADVANCE
Largest movements
- Receivables after one year -€208,277
down €208,277 (-88.9%), from €234,314 to €26,037
- Receivables within one year -€188,726
down €188,726 (-49.5%), from €380,997 to €192,271
of which Trade receivables: -€198,467
- Stocks and contracts +€90,539
new in 2025: €90,539
- Tangible fixed assets +€32,523
up €32,523 (+79.1%), from €41,123 to €73,646
of which Furniture and vehicles: +€34,416
- Cash -€29,737
down €29,737 (-47.9%), from €62,107 to €32,369
mainly Contributions, distributions and other (-€307,550) and Stocks and contracts (-€90,539)
- Reserves -€304,087
down €304,087 (-48.3%), from €629,559 to €325,472
- Tax, wage and social debts -€84,606
down €84,606 (-96.6%), from €87,538 to €2,933
- Debts after one year +€64,356
up €64,356 (+1,355%), from €4,751 to €69,107
- Current portion of long-term debt +€16,253
up €16,253 (+143%), from €11,341 to €27,594
- Gross operating margin -€285,311
down €285,311 (-97.0%), from €294,084 to €8,772
- Taxes -€88,433
down €88,433 (-96.3%), from €91,870 to €3,436
- Depreciation -€10,894
down €10,894 (-60.7%), from €17,956 to €7,062
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €736,659 | €433,070 | -€303,589 | -41.2% |
| Fixed assets | 21/28 | €56,123 | €88,646 | +€32,523 | +57.9% |
| Tangible fixed assets | 22/27 | €41,123 | €73,646 | +€32,523 | +79.1% |
| Furniture and vehicles | 24 | €35,444 | €69,860 | +€34,416 | +97.1% |
| Other tangible fixed assets | 26 | €5,679 | €3,786 | -€1,893 | -33.3% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €680,536 | €344,424 | -€336,112 | -49.4% |
| Amounts receivable after more than one year | 29 | €234,314 | €26,037 | -€208,277 | -88.9% |
| Other amounts receivable | 291 | €234,314 | €26,037 | -€208,277 | -88.9% |
| Stocks and contracts in progress | 3 | - | €90,539 | +€90,539 | |
| Stocks | 30/36 | - | €90,539 | +€90,539 | |
| Amounts receivable within one year | 40/41 | €380,997 | €192,271 | -€188,726 | -49.5% |
| Trade receivables | 40 | €372,609 | €174,143 | -€198,467 | -53.3% |
| Other amounts receivable | 41 | €8,388 | €18,129 | +€9,741 | +116% |
| Cash at bank and in hand | 54/58 | €62,107 | €32,369 | -€29,737 | -47.9% |
| Deferred charges and accrued income | 490/1 | €3,118 | €3,207 | +€89 | +2.9% |
| Total equity and liabilities | 10/49 | €736,659 | €433,070 | -€303,589 | -41.2% |
| Equity | 10/15 | €631,144 | €327,057 | -€304,087 | -48.2% |
| Contributions | 10/11 | €1,585 | €1,585 | = | 0.0% |
| Reserves | 13 | €629,559 | €325,472 | -€304,087 | -48.3% |
| Distributable reserves | 133 | €629,559 | €325,472 | -€304,087 | -48.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,516 | €106,014 | +€498 | +0.5% |
| Amounts payable after more than one year | 17 | €4,751 | €69,107 | +€64,356 | +1,355% |
| Financial debts | 170/4 | €4,751 | €69,107 | +€64,356 | +1,355% |
| Amounts payable within one year | 42/48 | €100,765 | €35,331 | -€65,434 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €11,341 | €27,594 | +€16,253 | +143% |
| Trade debts | 44 | €1,885 | €4,804 | +€2,919 | +155% |
| Suppliers | 440/4 | €1,885 | €4,804 | +€2,919 | +155% |
| Taxes, remuneration and social security | 45 | €87,538 | €2,933 | -€84,606 | -96.6% |
| Taxes | 450/3 | €87,538 | €2,933 | -€84,606 | -96.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €1,575 | +€1,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,956 | €7,062 | -€10,894 | -60.7% |
| Other operating charges | 640/8 | €1,353 | €1,960 | +€606 | +44.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €294,084 | €8,772 | -€285,311 | -97.0% |
| Operating profit (loss) | 9901 | €274,775 | -€249 | -€275,024 | |
| Financial income | 75/76B | €9,221 | €8,376 | -€845 | -9.2% |
| Recurring financial income | 75 | €9,221 | €8,376 | -€845 | -9.2% |
| Financial charges | 65/66B | €563 | €1,227 | +€665 | +118% |
| Recurring financial charges | 65 | €563 | €1,227 | +€665 | +118% |
| Profit (loss) for the period before taxes | 9903 | €283,433 | €6,899 | -€276,534 | -97.6% |
| Income taxes | 67/77 | €91,870 | €3,436 | -€88,433 | -96.3% |
| Profit (loss) for the period | 9904 | €191,564 | €3,463 | -€188,101 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €191,564 | €3,463 | -€188,101 | -98.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.