Passus: 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.
Passus
Largest movements
- Cash -€41,108
down €41,108 (-68.8%), from €59,756 to €18,649
mainly Contributions, distributions and other (-€29,412) and Debts after one year (-€8,623)
- Tangible fixed assets -€5,508
down €5,508 (-19.7%), from €28,024 to €22,516
of which Leasing and similar rights: -€8,245
- Receivables within one year +€1,510
up €1,510 (+5.6%), from €26,793 to €28,303
of which Other amounts receivable: +€2,901
- Reserves -€29,412
down €29,412 (-36.0%), from €81,637 to €52,226
- Debts after one year -€8,623
down €8,623 (-59.3%), from €14,539 to €5,916
- Profit (loss) carried forward -€4,286
new in 2025: -€4,286
- Trade debts -€1,798
down €1,798 (-73.8%), from €2,436 to €638
- Gross operating margin -€13,906
down €13,906 (-62.1%), from €22,394 to €8,488
- Depreciation -€2,816
down €2,816 (-21.9%), from €12,829 to €10,013
- Taxes -€1,811
down €1,811 (-93.2%), from €1,943 to €132
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 | €116,503 | €71,648 | -€44,855 | -38.5% |
| Fixed assets | 21/28 | €28,024 | €22,516 | -€5,508 | -19.7% |
| Tangible fixed assets | 22/27 | €28,024 | €22,516 | -€5,508 | -19.7% |
| Plant, machinery and equipment | 23 | €1,347 | €845 | -€502 | -37.2% |
| Furniture and vehicles | 24 | €3,382 | €5,007 | +€1,625 | +48.1% |
| Leasing and similar rights | 25 | €22,159 | €13,914 | -€8,245 | -37.2% |
| Other tangible fixed assets | 26 | €1,137 | €2,749 | +€1,613 | +141.9% |
| Current assets | 29/58 | €88,479 | €49,132 | -€39,347 | -44.5% |
| Amounts receivable within one year | 40/41 | €26,793 | €28,303 | +€1,510 | +5.6% |
| Trade receivables | 40 | €23,736 | €22,345 | -€1,391 | -5.9% |
| Other amounts receivable | 41 | €3,057 | €5,958 | +€2,901 | +94.9% |
| Cash at bank and in hand | 54/58 | €59,756 | €18,649 | -€41,108 | -68.8% |
| Deferred charges and accrued income | 490/1 | €1,930 | €2,181 | +€251 | +13.0% |
| Total equity and liabilities | 10/49 | €116,503 | €71,648 | -€44,855 | -38.5% |
| Equity | 10/15 | €87,837 | €54,140 | -€33,698 | -38.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,637 | €52,226 | -€29,412 | -36.0% |
| Distributable reserves | 133 | €81,637 | €52,226 | -€29,412 | -36.0% |
| Profit (loss) carried forward | 14 | - | -€4,286 | -€4,286 | |
| Amounts payable | 17/49 | €28,665 | €17,508 | -€11,157 | -38.9% |
| Amounts payable after more than one year | 17 | €14,539 | €5,916 | -€8,623 | -59.3% |
| Financial debts | 170/4 | €14,539 | €5,916 | -€8,623 | -59.3% |
| Amounts payable within one year | 42/48 | €14,127 | €11,592 | -€2,534 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €8,336 | €8,628 | +€293 | +3.5% |
| Trade debts | 44 | €2,436 | €638 | -€1,798 | -73.8% |
| Suppliers | 440/4 | €2,436 | €638 | -€1,798 | -73.8% |
| Taxes, remuneration and social security | 45 | €2,946 | €2,325 | -€621 | -21.1% |
| Taxes | 450/3 | €2,946 | €2,325 | -€621 | -21.1% |
| Other amounts payable | 47/48 | €408 | - | -€408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,829 | €10,013 | -€2,816 | -21.9% |
| Other operating charges | 640/8 | €1,381 | €1,479 | +€98 | +7.1% |
| Gross operating margin | 9900 | €22,394 | €8,488 | -€13,906 | -62.1% |
| Operating profit (loss) | 9901 | €8,185 | -€3,004 | -€11,188 | |
| Financial income | 75/76B | €0 | €189 | +€189 | +1885100.0% |
| Recurring financial income | 75 | €0 | €189 | +€189 | +1885100.0% |
| Financial charges | 65/66B | €1,192 | €1,339 | +€147 | +12.3% |
| Recurring financial charges | 65 | €1,192 | €1,339 | +€147 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €6,993 | -€4,154 | -€11,147 | |
| Income taxes | 67/77 | €1,943 | €132 | -€1,811 | -93.2% |
| Profit (loss) for the period | 9904 | €5,050 | -€4,286 | -€9,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,050 | -€4,286 | -€9,336 |
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 6 October 2026 via checked.be.