PAINCHART: 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.
PAINCHART
Largest movements
- Cash -€90,176
down €90,176 (-55.4%), from €162,869 to €72,693
mainly Contributions, distributions and other (-€150,000) and Debts after one year (-€17,644)
- Receivables within one year +€8,824
up €8,824 (+94.8%), from €9,306 to €18,130
of which Other amounts receivable: +€14,885
- Tangible fixed assets +€5,572
up €5,572 (+11.0%), from €50,858 to €56,430
of which Plant, machinery and equipment: +€5,787
- Profit (loss) carried forward -€90,916
down €90,916, from €59,369 to -€31,546
- Tax, wage and social debts +€23,233
up €23,233 (+41.2%), from €56,444 to €79,677
of which Remuneration and social security: +€20,280
- Debts after one year -€17,644
down €17,644 (-25.1%), from €70,393 to €52,749
- Current portion of long-term debt +€5,958
up €5,958 (+46.1%), from €12,936 to €18,894
- Gross operating margin +€22,356
up €22,356 (+11.4%), from €196,794 to €219,150
- Staff costs +€11,369
up €11,369 (+9.5%), from €119,349 to €130,718
- Taxes +€2,241
up €2,241 (+17.0%), from €13,152 to €15,393
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 | €223,154 | €147,373 | -€75,780 | -34.0% |
| Fixed assets | 21/28 | €50,978 | €56,550 | +€5,572 | +10.9% |
| Tangible fixed assets | 22/27 | €50,858 | €56,430 | +€5,572 | +11.0% |
| Plant, machinery and equipment | 23 | €50,246 | €56,033 | +€5,787 | +11.5% |
| Furniture and vehicles | 24 | €612 | €398 | -€215 | -35.1% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €172,175 | €90,823 | -€81,352 | -47.2% |
| Amounts receivable within one year | 40/41 | €9,306 | €18,130 | +€8,824 | +94.8% |
| Trade receivables | 40 | €9,306 | €3,245 | -€6,061 | -65.1% |
| Other amounts receivable | 41 | - | €14,885 | +€14,885 | |
| Cash at bank and in hand | 54/58 | €162,869 | €72,693 | -€90,176 | -55.4% |
| Total equity and liabilities | 10/49 | €223,154 | €147,373 | -€75,780 | -34.0% |
| Equity | 10/15 | €74,369 | -€16,546 | -€90,916 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,369 | -€31,546 | -€90,916 | |
| Amounts payable | 17/49 | €148,784 | €163,920 | +€15,135 | +10.2% |
| Amounts payable after more than one year | 17 | €70,393 | €52,749 | -€17,644 | -25.1% |
| Financial debts | 170/4 | €70,393 | €52,749 | -€17,644 | -25.1% |
| Amounts payable within one year | 42/48 | €78,391 | €111,171 | +€32,779 | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €12,936 | €18,894 | +€5,958 | +46.1% |
| Financial debts | 43 | €7,521 | €7,521 | = | 0.0% |
| Other loans | 439 | €7,521 | €7,521 | = | 0.0% |
| Trade debts | 44 | - | €2,118 | +€2,118 | |
| Suppliers | 440/4 | - | €2,118 | +€2,118 | |
| Taxes, remuneration and social security | 45 | €56,444 | €79,677 | +€23,233 | +41.2% |
| Taxes | 450/3 | €21,814 | €24,767 | +€2,953 | +13.5% |
| Remuneration and social security | 454/9 | €34,630 | €54,910 | +€20,280 | +58.6% |
| Other amounts payable | 47/48 | €1,491 | €2,961 | +€1,470 | +98.6% |
| Remuneration, social security and pensions | 62 | €119,349 | €130,718 | +€11,369 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,286 | €7,062 | +€776 | +12.3% |
| Other operating charges | 640/8 | €894 | €210 | -€684 | -76.5% |
| Gross operating margin | 9900 | €196,794 | €219,150 | +€22,356 | +11.4% |
| Operating profit (loss) | 9901 | €70,265 | €81,160 | +€10,894 | +15.5% |
| Financial income | 75/76B | €51 | €41 | -€9 | -18.1% |
| Recurring financial income | 75 | €51 | €41 | -€9 | -18.1% |
| Financial charges | 65/66B | €5,716 | €6,724 | +€1,008 | +17.6% |
| Recurring financial charges | 65 | €5,716 | €6,724 | +€1,008 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €64,600 | €74,477 | +€9,877 | +15.3% |
| Income taxes | 67/77 | €13,152 | €15,393 | +€2,241 | +17.0% |
| Profit (loss) for the period | 9904 | €51,448 | €59,084 | +€7,637 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €51,448 | €59,084 | +€7,637 | +14.8% |
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 10 October 2026 via checked.be.