PASSIVERDE: what changed
PASSIVERDE
Largest movements
- Cash -€12,432
down €12,432 (-38.6%), from €32,211 to €19,779
mainly Other debts (-€45,000) and Stocks and contracts (-€4,264)
- Tangible fixed assets -€6,882
down €6,882 (-22.7%), from €30,309 to €23,427
- Stocks and contracts +€4,264
new in 2025: €4,264
- Receivables within one year -€1,247
down €1,247 (-22.7%), from €5,494 to €4,247
of which Other amounts receivable: -€1,115
- Other debts -€45,000
no longer reported in 2025 (was €45,000)
- Profit (loss) carried forward +€23,050
up €23,050 (+149%), from €15,431 to €38,481
- Tax, wage and social debts +€5,873
up €5,873 (+151%), from €3,889 to €9,762
- Gross operating margin +€12,483
up €12,483 (+52.5%), from €23,797 to €36,281
- Depreciation +€2,782
up €2,782 (+67.8%), from €4,100 to €6,882
- Taxes +€1,926
up €1,926 (+49.5%), from €3,889 to €5,815
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,015 | €51,718 | -€16,297 | -24.0% |
| Fixed assets | 21/28 | €30,309 | €23,427 | -€6,882 | -22.7% |
| Tangible fixed assets | 22/27 | €30,309 | €23,427 | -€6,882 | -22.7% |
| Furniture and vehicles | 24 | €30,309 | €23,427 | -€6,882 | -22.7% |
| Current assets | 29/58 | €37,706 | €28,291 | -€9,415 | -25.0% |
| Stocks and contracts in progress | 3 | - | €4,264 | +€4,264 | |
| Stocks | 30/36 | - | €4,264 | +€4,264 | |
| Amounts receivable within one year | 40/41 | €5,494 | €4,247 | -€1,247 | -22.7% |
| Trade receivables | 40 | €4,380 | €4,247 | -€132 | -3.0% |
| Other amounts receivable | 41 | €1,115 | - | -€1,115 | |
| Cash at bank and in hand | 54/58 | €32,211 | €19,779 | -€12,432 | -38.6% |
| Total equity and liabilities | 10/49 | €68,015 | €51,718 | -€16,297 | -24.0% |
| Equity | 10/15 | €18,431 | €41,481 | +€23,050 | +125% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,431 | €38,481 | +€23,050 | +149% |
| Amounts payable | 17/49 | €49,584 | €10,237 | -€39,347 | -79.4% |
| Amounts payable within one year | 42/48 | €49,584 | €10,237 | -€39,347 | -79.4% |
| Trade debts | 44 | €695 | €475 | -€220 | -31.6% |
| Suppliers | 440/4 | €695 | €475 | -€220 | -31.6% |
| Taxes, remuneration and social security | 45 | €3,889 | €9,762 | +€5,873 | +151% |
| Taxes | 450/3 | €3,889 | €9,762 | +€5,873 | +151% |
| Other amounts payable | 47/48 | €45,000 | - | -€45,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,100 | €6,882 | +€2,782 | +67.8% |
| Other operating charges | 640/8 | €373 | €338 | -€35 | -9.3% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | €23,797 | €36,281 | +€12,483 | +52.5% |
| Operating profit (loss) | 9901 | €19,324 | €28,997 | +€9,673 | +50.1% |
| Financial income | 75/76B | €29 | - | -€29 | |
| Recurring financial income | 75 | €29 | - | -€29 | |
| Financial charges | 65/66B | €34 | €132 | +€98 | +290% |
| Recurring financial charges | 65 | €34 | €132 | +€98 | +290% |
| Profit (loss) for the period before taxes | 9903 | €19,320 | €28,865 | +€9,545 | +49.4% |
| Income taxes | 67/77 | €3,889 | €5,815 | +€1,926 | +49.5% |
| Profit (loss) for the period | 9904 | €15,431 | €23,050 | +€7,619 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,431 | €23,050 | +€7,619 | +49.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.