P&S: 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.
P&S
Largest movements
- Receivables within one year -€341,213
down €341,213 (-99.6%), from €342,515 to €1,303
of which Trade receivables: -€322,799
- Tangible fixed assets -€11,054
down €11,054 (-29.2%), from €37,825 to €26,770
of which Furniture and vehicles: -€10,497
- Other debts -€324,090
down €324,090 (-60.1%), from €539,457 to €215,367
- Profit (loss) carried forward -€32,859
down €32,859 (-11.8%), from -€278,350 to -€311,209
- Trade debts +€17,462
up €17,462 (+15.3%), from €113,909 to €131,371
- Debts after one year -€9,960
down €9,960 (-49.7%), from €20,032 to €10,072
- Gross operating margin +€71,710
up €71,710 (+85.9%), from €83,434 to €155,143
- Write-downs +€50,000
up €50,000 (+55.7%), from €89,799 to €139,799
- Financial charges +€32,742
up €32,742 (+1,017%), from €3,219 to €35,961
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €416,340 | €64,073 | -€352,267 | -84.6% |
| Fixed assets | 21/28 | €73,825 | €62,770 | -€11,054 | -15.0% |
| Tangible fixed assets | 22/27 | €37,825 | €26,770 | -€11,054 | -29.2% |
| Plant, machinery and equipment | 23 | €836 | €278 | -€558 | -66.7% |
| Furniture and vehicles | 24 | €36,989 | €26,492 | -€10,497 | -28.4% |
| Financial fixed assets | 28 | €36,000 | €36,000 | = | 0.0% |
| Current assets | 29/58 | €342,515 | €1,303 | -€341,213 | -99.6% |
| Amounts receivable within one year | 40/41 | €342,515 | €1,303 | -€341,213 | -99.6% |
| Trade receivables | 40 | €323,799 | €1,000 | -€322,799 | -99.7% |
| Other amounts receivable | 41 | €18,716 | €303 | -€18,414 | -98.4% |
| Total equity and liabilities | 10/49 | €416,340 | €64,073 | -€352,267 | -84.6% |
| Equity | 10/15 | -€270,290 | -€303,149 | -€32,859 | -12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€278,350 | -€311,209 | -€32,859 | -11.8% |
| Amounts payable | 17/49 | €686,629 | €367,222 | -€319,408 | -46.5% |
| Amounts payable after more than one year | 17 | €20,032 | €10,072 | -€9,960 | -49.7% |
| Financial debts | 170/4 | €20,032 | €10,072 | -€9,960 | -49.7% |
| Amounts payable within one year | 42/48 | €666,598 | €357,150 | -€309,448 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €9,891 | €10,181 | +€290 | +2.9% |
| Financial debts | 43 | €151 | €31 | -€120 | -79.5% |
| Credit institutions | 430/8 | €151 | €31 | -€120 | -79.5% |
| Trade debts | 44 | €113,909 | €131,371 | +€17,462 | +15.3% |
| Suppliers | 440/4 | €113,909 | €131,371 | +€17,462 | +15.3% |
| Taxes, remuneration and social security | 45 | €3,189 | €200 | -€2,989 | -93.7% |
| Taxes | 450/3 | €189 | €200 | +€11 | +5.7% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €539,457 | €215,367 | -€324,090 | -60.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,057 | €11,054 | -€2 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €89,799 | €139,799 | +€50,000 | +55.7% |
| Other operating charges | 640/8 | €1,512 | €853 | -€659 | -43.6% |
| Gross operating margin | 9900 | €83,434 | €155,143 | +€71,710 | +85.9% |
| Operating profit (loss) | 9901 | -€18,934 | €3,437 | +€22,370 | |
| Financial charges | 65/66B | €3,219 | €35,961 | +€32,742 | +1,017% |
| Recurring financial charges | 65 | €3,219 | €35,961 | +€32,742 | +1,017% |
| Profit (loss) for the period before taxes | 9903 | -€22,152 | -€32,524 | -€10,372 | -46.8% |
| Income taxes | 67/77 | €189 | €335 | +€146 | +77.1% |
| Profit (loss) for the period | 9904 | -€22,342 | -€32,859 | -€10,518 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,342 | -€32,859 | -€10,518 | -47.1% |
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 23 October 2026 via checked.be.