PAGE UP: 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 UP
Largest movements
- Cash +€14,295
up €14,295 (+77.5%), from €18,452 to €32,748
mainly Depreciation (+€12,378) and Receivables within one year (+€6,599)
- Tangible fixed assets -€10,857
down €10,857 (-47.6%), from €22,804 to €11,946
of which Furniture and vehicles: -€8,992
- Receivables within one year -€6,599
down €6,599 (-40.1%), from €16,468 to €9,869
of which Trade receivables: -€6,422
- Current portion of long-term debt -€2,731
down €2,731 (-100.0%), from €2,731 to €0
- Tax, wage and social debts -€1,002
down €1,002 (-17.4%), from €5,767 to €4,765
- Accrued charges and deferred income +€693
up €693 (+25.5%), from €2,718 to €3,411
- Gross operating margin +€12,633
up €12,633 (+128.8%), from €9,807 to €22,439
- Write-downs +€7,769
new in 2025: €7,769
- Depreciation -€5,451
down €5,451 (-30.6%), from €17,829 to €12,378
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 | €60,166 | €57,325 | -€2,840 | -4.7% |
| Fixed assets | 21/28 | €22,804 | €11,946 | -€10,857 | -47.6% |
| Tangible fixed assets | 22/27 | €22,804 | €11,946 | -€10,857 | -47.6% |
| Plant, machinery and equipment | 23 | €9,629 | €9,467 | -€163 | -1.7% |
| Furniture and vehicles | 24 | €9,963 | €971 | -€8,992 | -90.3% |
| Other tangible fixed assets | 26 | €3,211 | €1,508 | -€1,703 | -53.0% |
| Current assets | 29/58 | €37,362 | €45,379 | +€8,017 | +21.5% |
| Amounts receivable within one year | 40/41 | €16,468 | €9,869 | -€6,599 | -40.1% |
| Trade receivables | 40 | €16,278 | €9,856 | -€6,422 | -39.5% |
| Other amounts receivable | 41 | €191 | €13 | -€178 | -93.1% |
| Cash at bank and in hand | 54/58 | €18,452 | €32,748 | +€14,295 | +77.5% |
| Deferred charges and accrued income | 490/1 | €2,441 | €2,762 | +€321 | +13.2% |
| Total equity and liabilities | 10/49 | €60,166 | €57,325 | -€2,840 | -4.7% |
| Equity | 10/15 | €26,057 | €26,400 | +€343 | +1.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,831 | €27,831 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €25,972 | €25,972 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,366 | -€20,023 | +€343 | +1.7% |
| Amounts payable | 17/49 | €34,108 | €30,925 | -€3,183 | -9.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €31,390 | €27,514 | -€3,876 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €2,731 | €0 | -€2,731 | -100.0% |
| Trade debts | 44 | €4,419 | €4,425 | +€7 | +0.2% |
| Suppliers | 440/4 | €4,419 | €4,425 | +€7 | +0.2% |
| Taxes, remuneration and social security | 45 | €5,767 | €4,765 | -€1,002 | -17.4% |
| Taxes | 450/3 | €5,767 | €4,765 | -€1,002 | -17.4% |
| Other amounts payable | 47/48 | €18,473 | €18,324 | -€149 | -0.8% |
| Accrued charges and deferred income | 492/3 | €2,718 | €3,411 | +€693 | +25.5% |
| Non-recurring operating income | 76A | - | €421 | +€421 | |
| Remuneration, social security and pensions | 62 | €747 | €855 | +€108 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,829 | €12,378 | -€5,451 | -30.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,769 | +€7,769 | |
| Other operating charges | 640/8 | €652 | €803 | +€152 | +23.3% |
| Gross operating margin | 9900 | €9,807 | €22,439 | +€12,633 | +128.8% |
| Operating profit (loss) | 9901 | -€9,421 | €634 | +€10,055 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €173 | €154 | -€19 | -10.7% |
| Recurring financial charges | 65 | €173 | €154 | -€19 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,594 | €480 | +€10,074 | |
| Income taxes | 67/77 | €150 | €137 | -€13 | -8.8% |
| Profit (loss) for the period | 9904 | -€9,744 | €343 | +€10,087 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,744 | €343 | +€10,087 |
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.