ORIGINAL THOUGHT: 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.
ORIGINAL THOUGHT
Largest movements
- Cash -€8,498
down €8,498 (-59.9%), from €14,196 to €5,697
mainly Net result for the year (-€25,042) and Trade debts (-€5,770)
- Tangible fixed assets -€4,479
down €4,479 (-51.8%), from €8,639 to €4,160
of which Plant, machinery and equipment: -€2,712
- Receivables within one year -€2,835
down €2,835 (-17.9%), from €15,838 to €13,003
- Deferred charges and accrued income -€1,130
down €1,130 (-19.5%), from €5,803 to €4,673
- Profit (loss) carried forward -€25,042
down €25,042, from €8,236 to -€16,805
- Other debts +€11,467
up €11,467 (+48.0%), from €23,901 to €35,369
- Trade debts -€5,770
down €5,770 (-73.1%), from €7,894 to €2,124
- Tax, wage and social debts +€2,403
up €2,403 (+69.8%), from €3,443 to €5,846
- Gross operating margin -€20,567
down €20,567, from €6,568 to -€13,999
- Depreciation +€737
up €737 (+19.7%), from €3,741 to €4,479
- Financial charges +€733
up €733 (+14.9%), from €4,908 to €5,641
- Taxes -€558
down €558 (-61.0%), from €915 to €357
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 | €44,475 | €27,533 | -€16,942 | -38.1% |
| Fixed assets | 21/28 | €8,639 | €4,160 | -€4,479 | -51.8% |
| Tangible fixed assets | 22/27 | €8,639 | €4,160 | -€4,479 | -51.8% |
| Plant, machinery and equipment | 23 | €5,085 | €2,373 | -€2,712 | -53.3% |
| Furniture and vehicles | 24 | €3,553 | €1,787 | -€1,767 | -49.7% |
| Current assets | 29/58 | €35,836 | €23,373 | -€12,463 | -34.8% |
| Amounts receivable within one year | 40/41 | €15,838 | €13,003 | -€2,835 | -17.9% |
| Trade receivables | 40 | €15,838 | €13,003 | -€2,835 | -17.9% |
| Cash at bank and in hand | 54/58 | €14,196 | €5,697 | -€8,498 | -59.9% |
| Deferred charges and accrued income | 490/1 | €5,803 | €4,673 | -€1,130 | -19.5% |
| Total equity and liabilities | 10/49 | €44,475 | €27,533 | -€16,942 | -38.1% |
| Equity | 10/15 | €9,236 | -€15,805 | -€25,042 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,236 | -€16,805 | -€25,042 | |
| Amounts payable | 17/49 | €35,239 | €43,339 | +€8,100 | +23.0% |
| Amounts payable within one year | 42/48 | €35,239 | €43,339 | +€8,100 | +23.0% |
| Trade debts | 44 | €7,894 | €2,124 | -€5,770 | -73.1% |
| Suppliers | 440/4 | €7,894 | €2,124 | -€5,770 | -73.1% |
| Taxes, remuneration and social security | 45 | €3,443 | €5,846 | +€2,403 | +69.8% |
| Taxes | 450/3 | €3,443 | €5,846 | +€2,403 | +69.8% |
| Other amounts payable | 47/48 | €23,901 | €35,369 | +€11,467 | +48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,741 | €4,479 | +€737 | +19.7% |
| Other operating charges | 640/8 | €507 | €565 | +€58 | +11.4% |
| Gross operating margin | 9900 | €6,568 | -€13,999 | -€20,567 | |
| Operating profit (loss) | 9901 | €2,319 | -€19,043 | -€21,362 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,908 | €5,641 | +€733 | +14.9% |
| Recurring financial charges | 65 | €4,908 | €5,641 | +€733 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,589 | -€24,685 | -€22,095 | -853.4% |
| Income taxes | 67/77 | €915 | €357 | -€558 | -61.0% |
| Profit (loss) for the period | 9904 | -€3,505 | -€25,042 | -€21,537 | -614.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,505 | -€25,042 | -€21,537 | -614.5% |
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 6 October 2026 via checked.be.