PERSONAE: 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.
PERSONAE
Largest movements
- Cash -€530,647
down €530,647 (-12.6%), from €4.2m to €3.7m
mainly Receivables within one year (-€412,558) and Contributions, distributions and other (-€250,000)
- Receivables within one year +€412,558
up €412,558 (+19.0%), from €2.2m to €2.6m
of which Trade receivables: +€629,521
- Trade debts -€193,411
down €193,411 (-4.6%), from €4.2m to €4.0m
- Reserves -€94,831
down €94,831 (-55.5%), from €170,997 to €76,165
of which Distributable reserves: -€94,831
- Financial charges +€623,417
up €623,417 (+36,787%), from €1,695 to €625,112
- Gross operating margin +€134,290
up €134,290 (+19.7%), from €682,495 to €816,784
- Taxes -€131,632
down €131,632 (-61.3%), from €214,827 to €83,195
- Financial income -€122,856
down €122,856 (-44.1%), from €278,399 to €155,543
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.
Derived cash bridge
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 | €6,536,861 | €6,335,155 | -€201,706 | -3.1% |
| Fixed assets | 21/28 | €128,971 | €83,272 | -€45,699 | -35.4% |
| Intangible fixed assets | 21 | €21,199 | - | -€21,199 | |
| Tangible fixed assets | 22/27 | €105,472 | €80,972 | -€24,500 | -23.2% |
| Furniture and vehicles | 24 | €105,472 | €80,972 | -€24,500 | -23.2% |
| Financial fixed assets | 28 | €2,300 | €2,300 | = | 0.0% |
| Current assets | 29/58 | €6,407,890 | €6,251,883 | -€156,007 | -2.4% |
| Amounts receivable within one year | 40/41 | €2,169,639 | €2,582,198 | +€412,558 | +19.0% |
| Trade receivables | 40 | €1,878,677 | €2,508,198 | +€629,521 | +33.5% |
| Other amounts receivable | 41 | €290,962 | €74,000 | -€216,962 | -74.6% |
| Cash at bank and in hand | 54/58 | €4,199,791 | €3,669,144 | -€530,647 | -12.6% |
| Deferred charges and accrued income | 490/1 | €38,460 | €542 | -€37,918 | -98.6% |
| Total equity and liabilities | 10/49 | €6,536,861 | €6,335,155 | -€201,706 | -3.1% |
| Equity | 10/15 | €289,097 | €194,265 | -€94,831 | -32.8% |
| Contributions | 10/11 | €118,100 | €118,100 | = | 0.0% |
| Capital | 10 | €118,100 | €118,100 | = | 0.0% |
| Issued capital | 100 | €118,100 | €118,100 | = | 0.0% |
| Reserves | 13 | €170,997 | €76,165 | -€94,831 | -55.5% |
| Non-distributable reserves | 130/1 | €11,810 | €11,810 | = | 0.0% |
| Legal reserve | 130 | €11,810 | €11,810 | = | 0.0% |
| Distributable reserves | 133 | €159,187 | €64,355 | -€94,831 | -59.6% |
| Amounts payable | 17/49 | €6,247,765 | €6,140,890 | -€106,875 | -1.7% |
| Amounts payable within one year | 42/48 | €6,246,155 | €6,111,355 | -€134,800 | -2.2% |
| Trade debts | 44 | €4,207,533 | €4,014,121 | -€193,411 | -4.6% |
| Suppliers | 440/4 | €4,207,533 | €4,014,121 | -€193,411 | -4.6% |
| Taxes, remuneration and social security | 45 | €75,892 | €137,696 | +€61,804 | +81.4% |
| Taxes | 450/3 | €75,892 | €137,696 | +€61,804 | +81.4% |
| Other amounts payable | 47/48 | €1,962,731 | €1,959,538 | -€3,193 | -0.2% |
| Accrued charges and deferred income | 492/3 | €1,609 | €29,535 | +€27,926 | +1,735% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,317 | €47,153 | +€3,837 | +8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,000 | €60,000 | = | 0.0% |
| Other operating charges | 640/8 | €5,118 | €1,698 | -€3,419 | -66.8% |
| Non-recurring operating charges | 66A | €968 | - | -€968 | |
| Gross operating margin | 9900 | €682,495 | €816,784 | +€134,290 | +19.7% |
| Operating profit (loss) | 9901 | €573,093 | €707,933 | +€134,840 | +23.5% |
| Financial income | 75/76B | €278,399 | €155,543 | -€122,856 | -44.1% |
| Recurring financial income | 75 | €278,399 | €155,543 | -€122,856 | -44.1% |
| Financial charges | 65/66B | €1,695 | €625,112 | +€623,417 | +36,787% |
| Recurring financial charges | 65 | €1,695 | €625,112 | +€623,417 | +36,787% |
| Profit (loss) for the period before taxes | 9903 | €849,797 | €238,364 | -€611,433 | -72.0% |
| Income taxes | 67/77 | €214,827 | €83,195 | -€131,632 | -61.3% |
| Profit (loss) for the period | 9904 | €634,969 | €155,169 | -€479,801 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €634,969 | €155,169 | -€479,801 | -75.6% |
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 20 October 2026 via checked.be.