P&P: 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.
P&P
Largest movements
- Receivables within one year -€23,384
down €23,384 (-26.9%), from €87,012 to €63,628
of which Other amounts receivable: -€26,652
- Current investments -€10,475
no longer reported in 2025 (was €10,475)
- Cash +€9,407
new in 2025: €9,407
mainly Receivables within one year (+€23,384) and Current investments (+€10,475)
- Tax, wage and social debts -€14,023
down €14,023 (-86.5%), from €16,206 to €2,183
- Trade debts -€9,953
down €9,953 (-38.9%), from €25,594 to €15,641
- Profit (loss) carried forward -€1,193
down €1,193 (-3.4%), from €35,618 to €34,425
- Gross operating margin -€19,658
down €19,658, from €19,637 to -€21
- Taxes -€9,670
no longer reported in 2025 (was €9,670)
- Depreciation -€757
down €757 (-51.4%), from €1,473 to €717
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 | €101,014 | €75,844 | -€25,169 | -24.9% |
| Fixed assets | 21/28 | €3,527 | €2,810 | -€717 | -20.3% |
| Tangible fixed assets | 22/27 | €3,527 | €2,810 | -€717 | -20.3% |
| Plant, machinery and equipment | 23 | €227 | €170 | -€57 | -25.0% |
| Furniture and vehicles | 24 | €3,300 | €2,640 | -€660 | -20.0% |
| Current assets | 29/58 | €97,487 | €73,035 | -€24,453 | -25.1% |
| Amounts receivable within one year | 40/41 | €87,012 | €63,628 | -€23,384 | -26.9% |
| Trade receivables | 40 | €4,235 | €7,502 | +€3,267 | +77.1% |
| Other amounts receivable | 41 | €82,777 | €56,125 | -€26,652 | -32.2% |
| Current investments | 50/53 | €10,475 | - | -€10,475 | |
| Cash at bank and in hand | 54/58 | - | €9,407 | +€9,407 | |
| Total equity and liabilities | 10/49 | €101,014 | €75,844 | -€25,169 | -24.9% |
| Equity | 10/15 | €59,213 | €58,020 | -€1,193 | -2.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €11,195 | €11,195 | = | 0.0% |
| Distributable reserves | 133 | €11,195 | €11,195 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,618 | €34,425 | -€1,193 | -3.4% |
| Amounts payable | 17/49 | €41,801 | €17,825 | -€23,976 | -57.4% |
| Amounts payable within one year | 42/48 | €41,801 | €17,825 | -€23,976 | -57.4% |
| Trade debts | 44 | €25,594 | €15,641 | -€9,953 | -38.9% |
| Suppliers | 440/4 | €25,594 | €15,641 | -€9,953 | -38.9% |
| Taxes, remuneration and social security | 45 | €16,206 | €2,183 | -€14,023 | -86.5% |
| Taxes | 450/3 | €16,206 | €2,183 | -€14,023 | -86.5% |
| Remuneration, social security and pensions | 62 | €87 | - | -€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,473 | €717 | -€757 | -51.4% |
| Other operating charges | 640/8 | €451 | €385 | -€66 | -14.7% |
| Gross operating margin | 9900 | €19,637 | -€21 | -€19,658 | |
| Operating profit (loss) | 9901 | €17,626 | -€1,122 | -€18,749 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €35 | €71 | +€36 | +102.6% |
| Recurring financial charges | 65 | €35 | €71 | +€36 | +102.6% |
| Profit (loss) for the period before taxes | 9903 | €17,593 | -€1,193 | -€18,787 | |
| Income taxes | 67/77 | €9,670 | - | -€9,670 | |
| Profit (loss) for the period | 9904 | €7,923 | -€1,193 | -€9,117 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,923 | -€1,193 | -€9,117 |
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 4 October 2026 via checked.be.