Operational Management Solution: 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.
Operational Management Solution
Largest movements
- Cash -€55,753
down €55,753 (-82.9%), from €67,238 to €11,485
mainly Other debts (-€26,197) and Net result for the year (-€24,523)
- Tangible fixed assets -€36,255
down €36,255 (-79.7%), from €45,465 to €9,210
of which Furniture and vehicles: -€34,583
- Receivables within one year +€7,988
up €7,988 (+4.6%), from €174,821 to €182,809
of which Other amounts receivable: +€23,780
- Other debts -€26,197
down €26,197 (-32.2%), from €81,305 to €55,108
- Profit (loss) carried forward -€24,523
new in 2025: -€24,523
- Trade debts -€22,960
down €22,960 (-98.4%), from €23,345 to €385
- Tax, wage and social debts -€9,843
down €9,843 (-17.0%), from €57,864 to €48,020
of which Taxes: -€8,095
- Gross operating margin -€105,707
down €105,707 (-81.4%), from €129,815 to €24,108
- Taxes -€31,275
down €31,275 (-97.2%), from €32,169 to €894
- Financial charges +€11,748
up €11,748 (+788%), from €1,490 to €13,238
of which Non-recurring financial charges: +€12,271
- Staff costs +€9,702
up €9,702 (+65.2%), from €14,873 to €24,575
- Depreciation -€8,285
down €8,285 (-55.4%), from €14,964 to €6,678
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 | €299,288 | €215,605 | -€83,683 | -28.0% |
| Fixed assets | 21/28 | €51,979 | €16,187 | -€35,792 | -68.9% |
| Intangible fixed assets | 21 | €6,514 | €4,977 | -€1,537 | -23.6% |
| Tangible fixed assets | 22/27 | €45,465 | €9,210 | -€36,255 | -79.7% |
| Land and buildings | 22 | €7,483 | €5,811 | -€1,672 | -22.3% |
| Furniture and vehicles | 24 | €37,982 | €3,399 | -€34,583 | -91.1% |
| Financial fixed assets | 28 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €247,309 | €199,418 | -€47,891 | -19.4% |
| Amounts receivable within one year | 40/41 | €174,821 | €182,809 | +€7,988 | +4.6% |
| Trade receivables | 40 | €122,788 | €106,997 | -€15,791 | -12.9% |
| Other amounts receivable | 41 | €52,033 | €75,813 | +€23,780 | +45.7% |
| Cash at bank and in hand | 54/58 | €67,238 | €11,485 | -€55,753 | -82.9% |
| Deferred charges and accrued income | 490/1 | €5,250 | €5,124 | -€126 | -2.4% |
| Total equity and liabilities | 10/49 | €299,288 | €215,605 | -€83,683 | -28.0% |
| Equity | 10/15 | €136,615 | €112,092 | -€24,523 | -18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €130,415 | €130,415 | = | 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 | €128,555 | €128,555 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€24,523 | -€24,523 | |
| Amounts payable | 17/49 | €162,673 | €103,513 | -€59,160 | -36.4% |
| Amounts payable within one year | 42/48 | €162,673 | €103,513 | -€59,160 | -36.4% |
| Financial debts | 43 | €159 | - | -€159 | |
| Credit institutions | 430/8 | €159 | - | -€159 | |
| Trade debts | 44 | €23,345 | €385 | -€22,960 | -98.4% |
| Suppliers | 440/4 | €23,345 | €385 | -€22,960 | -98.4% |
| Taxes, remuneration and social security | 45 | €57,864 | €48,020 | -€9,843 | -17.0% |
| Taxes | 450/3 | €56,115 | €48,020 | -€8,095 | -14.4% |
| Remuneration and social security | 454/9 | €1,748 | - | -€1,748 | |
| Other amounts payable | 47/48 | €81,305 | €55,108 | -€26,197 | -32.2% |
| Remuneration, social security and pensions | 62 | €14,873 | €24,575 | +€9,702 | +65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,964 | €6,678 | -€8,285 | -55.4% |
| Other operating charges | 640/8 | €6,429 | €3,247 | -€3,181 | -49.5% |
| Gross operating margin | 9900 | €129,815 | €24,108 | -€105,707 | -81.4% |
| Operating profit (loss) | 9901 | €93,550 | -€10,392 | -€103,942 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +182% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +182% |
| Financial charges | 65/66B | €1,490 | €13,238 | +€11,748 | +788% |
| Recurring financial charges | 65 | €1,490 | €967 | -€523 | -35.1% |
| Non-recurring financial charges | 66B | - | €12,271 | +€12,271 | |
| Profit (loss) for the period before taxes | 9903 | €92,060 | -€23,628 | -€115,688 | |
| Income taxes | 67/77 | €32,169 | €894 | -€31,275 | -97.2% |
| Profit (loss) for the period | 9904 | €59,891 | -€24,523 | -€84,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,891 | -€24,523 | -€84,414 |
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 14 October 2026 via checked.be.