Page Inside Out: 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.
Page Inside Out
Largest movements
- Cash -€25,808
down €25,808 (-25.3%), from €102,147 to €76,339
mainly Other debts (-€64,253) and Debts after one year (-€14,523)
- Tangible fixed assets -€16,709
down €16,709 (-19.4%), from €85,960 to €69,252
of which Furniture and vehicles: -€18,098
- Receivables within one year -€4,643
down €4,643 (-27.4%), from €16,933 to €12,289
of which Trade receivables: -€4,159
- Deferred charges and accrued income -€3,116
down €3,116 (-62.1%), from €5,016 to €1,901
- Other debts -€64,253
down €64,253 (-61.4%), from €104,712 to €40,459
- Reserves +€26,668
up €26,668 (+35.3%), from €75,655 to €102,323
- Debts after one year -€14,523
down €14,523 (-40.3%), from €36,027 to €21,504
- Gross operating margin -€21,754
down €21,754 (-31.2%), from €69,817 to €48,063
- Financial income +€11,966
up €11,966 (+198.5%), from €6,030 to €17,995
of which Financial income: +€12,033
- Financial charges -€2,299
down €2,299 (-29.9%), from €7,684 to €5,386
- Taxes -€1,489
down €1,489 (-16.2%), from €9,215 to €7,726
- Depreciation +€1,096
up €1,096 (+4.7%), from €23,516 to €24,612
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 | €247,382 | €197,106 | -€50,276 | -20.3% |
| Fixed assets | 21/28 | €105,449 | €88,740 | -€16,709 | -15.8% |
| Tangible fixed assets | 22/27 | €85,960 | €69,252 | -€16,709 | -19.4% |
| Furniture and vehicles | 24 | €60,550 | €42,452 | -€18,098 | -29.9% |
| Other tangible fixed assets | 26 | €25,410 | €26,799 | +€1,389 | +5.5% |
| Financial fixed assets | 28 | €19,488 | €19,488 | = | 0.0% |
| Current assets | 29/58 | €141,933 | €108,366 | -€33,567 | -23.6% |
| Amounts receivable within one year | 40/41 | €16,933 | €12,289 | -€4,643 | -27.4% |
| Trade receivables | 40 | €13,448 | €9,289 | -€4,159 | -30.9% |
| Other amounts receivable | 41 | €3,485 | €3,000 | -€485 | -13.9% |
| Current investments | 50/53 | €17,837 | €17,837 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €102,147 | €76,339 | -€25,808 | -25.3% |
| Deferred charges and accrued income | 490/1 | €5,016 | €1,901 | -€3,116 | -62.1% |
| Total equity and liabilities | 10/49 | €247,382 | €197,106 | -€50,276 | -20.3% |
| Equity | 10/15 | €77,655 | €104,323 | +€26,668 | +34.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €75,655 | €102,323 | +€26,668 | +35.3% |
| Distributable reserves | 133 | €75,655 | €102,323 | +€26,668 | +35.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €169,727 | €92,783 | -€76,944 | -45.3% |
| Amounts payable after more than one year | 17 | €36,027 | €21,504 | -€14,523 | -40.3% |
| Financial debts | 170/4 | €36,027 | €21,504 | -€14,523 | -40.3% |
| Amounts payable within one year | 42/48 | €133,700 | €71,279 | -€62,421 | -46.7% |
| Current portion of amounts payable after more than one year | 42 | €14,002 | €14,523 | +€521 | +3.7% |
| Trade debts | 44 | €4,574 | €3,614 | -€961 | -21.0% |
| Suppliers | 440/4 | €4,574 | €3,614 | -€961 | -21.0% |
| Taxes, remuneration and social security | 45 | €10,412 | €12,683 | +€2,271 | +21.8% |
| Taxes | 450/3 | €10,412 | €12,683 | +€2,271 | +21.8% |
| Other amounts payable | 47/48 | €104,712 | €40,459 | -€64,253 | -61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,516 | €24,612 | +€1,096 | +4.7% |
| Other operating charges | 640/8 | €1,430 | €1,666 | +€236 | +16.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €69,817 | €48,063 | -€21,754 | -31.2% |
| Operating profit (loss) | 9901 | €44,871 | €21,785 | -€23,086 | -51.4% |
| Financial income | 75/76B | €6,030 | €17,995 | +€11,966 | +198.5% |
| Recurring financial income | 75 | €5,963 | €17,995 | +€12,033 | +201.8% |
| Non-recurring financial income | 76B | €67 | €0 | -€67 | -100.0% |
| Financial charges | 65/66B | €7,684 | €5,386 | -€2,299 | -29.9% |
| Recurring financial charges | 65 | €7,684 | €5,386 | -€2,299 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €43,216 | €34,395 | -€8,821 | -20.4% |
| Income taxes | 67/77 | €9,215 | €7,726 | -€1,489 | -16.2% |
| Profit (loss) for the period | 9904 | €34,001 | €26,668 | -€7,332 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €34,001 | €26,668 | -€7,332 | -21.6% |
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 7 October 2026 via checked.be.