PARAGRAPHE: 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.
PARAGRAPHE
Largest movements
- Stocks and contracts -€11,174
down €11,174 (-11.8%), from €94,922 to €83,748
- Tangible fixed assets -€7,759
down €7,759 (-27.8%), from €27,902 to €20,144
of which Furniture and vehicles: -€6,987
- Receivables within one year +€5,619
up €5,619 (+44.0%), from €12,763 to €18,382
of which Other amounts receivable: +€7,897
- Debts after one year -€7,384
down €7,384 (-35.0%), from €21,068 to €13,685
- Profit (loss) carried forward -€4,264
down €4,264 (-122.1%), from -€3,494 to -€7,758
- Trade debts -€2,800
down €2,800 (-57.4%), from €4,880 to €2,081
- Write-downs -€8,883
new in 2025: -€8,883
- Gross operating margin -€8,333
down €8,333, from €5,215 to -€3,119
- Financial charges -€249
down €249 (-14.8%), from €1,688 to €1,439
- Taxes +€120
up €120 (+68.6%), from €174 to €294
- Other operating charges +€79
up €79 (+7.3%), from €1,078 to €1,156
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 | €144,326 | €129,661 | -€14,665 | -10.2% |
| Fixed assets | 21/28 | €27,902 | €20,144 | -€7,759 | -27.8% |
| Tangible fixed assets | 22/27 | €27,902 | €20,144 | -€7,759 | -27.8% |
| Furniture and vehicles | 24 | €25,957 | €18,970 | -€6,987 | -26.9% |
| Other tangible fixed assets | 26 | €267 | €108 | -€159 | -59.6% |
| Assets under construction and advance payments | 27 | €1,678 | €1,066 | -€613 | -36.5% |
| Current assets | 29/58 | €116,423 | €109,517 | -€6,906 | -5.9% |
| Stocks and contracts in progress | 3 | €94,922 | €83,748 | -€11,174 | -11.8% |
| Stocks | 30/36 | €94,922 | €83,748 | -€11,174 | -11.8% |
| Amounts receivable within one year | 40/41 | €12,763 | €18,382 | +€5,619 | +44.0% |
| Trade receivables | 40 | €3,297 | €1,020 | -€2,278 | -69.1% |
| Other amounts receivable | 41 | €9,466 | €17,363 | +€7,897 | +83.4% |
| Cash at bank and in hand | 54/58 | €7,896 | €6,687 | -€1,208 | -15.3% |
| Deferred charges and accrued income | 490/1 | €843 | €700 | -€143 | -17.0% |
| Total equity and liabilities | 10/49 | €144,326 | €129,661 | -€14,665 | -10.2% |
| Equity | 10/15 | €106,292 | €102,028 | -€4,264 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,186 | €91,186 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €89,326 | €91,186 | +€1,860 | +2.1% |
| Profit (loss) carried forward | 14 | -€3,494 | -€7,758 | -€4,264 | -122.1% |
| Amounts payable | 17/49 | €38,033 | €27,633 | -€10,400 | -27.3% |
| Amounts payable after more than one year | 17 | €21,068 | €13,685 | -€7,384 | -35.0% |
| Financial debts | 170/4 | €21,068 | €13,685 | -€7,384 | -35.0% |
| Amounts payable within one year | 42/48 | €16,965 | €13,549 | -€3,416 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €7,083 | €7,384 | +€301 | +4.3% |
| Trade debts | 44 | €4,880 | €2,081 | -€2,800 | -57.4% |
| Suppliers | 440/4 | €4,880 | €2,081 | -€2,800 | -57.4% |
| Taxes, remuneration and social security | 45 | €5,002 | €4,084 | -€918 | -18.3% |
| Taxes | 450/3 | €5,002 | €4,084 | -€918 | -18.3% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,759 | €7,759 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€8,883 | -€8,883 | |
| Other operating charges | 640/8 | €1,078 | €1,156 | +€79 | +7.3% |
| Gross operating margin | 9900 | €5,215 | -€3,119 | -€8,333 | |
| Operating profit (loss) | 9901 | -€3,622 | -€3,150 | +€471 | +13.0% |
| Financial income | 75/76B | €580 | €619 | +€39 | +6.7% |
| Recurring financial income | 75 | €580 | €619 | +€39 | +6.7% |
| Financial charges | 65/66B | €1,688 | €1,439 | -€249 | -14.8% |
| Recurring financial charges | 65 | €1,688 | €1,439 | -€249 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,730 | -€3,970 | +€759 | +16.1% |
| Income taxes | 67/77 | €174 | €294 | +€120 | +68.6% |
| Profit (loss) for the period | 9904 | -€4,904 | -€4,264 | +€640 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,904 | -€4,264 | +€640 | +13.0% |
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 3 October 2026 via checked.be.