PERSPECTIEF: 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.
PERSPECTIEF
Largest movements
- Cash -€189,493
down €189,493 (-28.2%), from €671,867 to €482,374
mainly Investment in fixed assets (net) (-€185,721) and Net result for the year (-€98,264)
- Tangible fixed assets +€133,430
up €133,430 (+182%), from €73,143 to €206,574
of which Other tangible fixed assets: +€150,732
- Deferred charges and accrued income -€60,792
down €60,792 (-87.8%), from €69,254 to €8,463
- Receivables within one year -€20,853
down €20,853 (-59.9%), from €34,797 to €13,944
of which Trade receivables: -€20,325
- Profit (loss) carried forward -€98,264
down €98,264 (-15.5%), from €634,467 to €536,204
- Debts within one year -€37,644
down €37,644 (-46.4%), from €81,111 to €43,466
of which Tax, wage and social debts: -€21,325
- Gross operating margin -€86,928
down €86,928 (-20.3%), from €428,924 to €341,995
- Depreciation +€35,129
up €35,129 (+205%), from €17,162 to €52,290
- Staff costs -€4,512
down €4,512 (-1.1%), from €392,355 to €387,843
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 | €853,061 | €715,353 | -€137,708 | -16.1% |
| Fixed assets | 21/28 | €77,141 | €210,571 | +€133,430 | +173% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €73,143 | €206,574 | +€133,430 | +182% |
| Plant, machinery and equipment | 23 | €5,622 | €3,590 | -€2,032 | -36.1% |
| Furniture and vehicles | 24 | €62,431 | €47,161 | -€15,270 | -24.5% |
| Other tangible fixed assets | 26 | €5,091 | €155,822 | +€150,732 | +2,961% |
| Financial fixed assets | 28 | €3,998 | €3,998 | = | 0.0% |
| Current assets | 29/58 | €775,919 | €504,781 | -€271,138 | -34.9% |
| Amounts receivable within one year | 40/41 | €34,797 | €13,944 | -€20,853 | -59.9% |
| Trade receivables | 40 | €28,154 | €7,829 | -€20,325 | -72.2% |
| Other amounts receivable | 41 | €6,643 | €6,116 | -€528 | -7.9% |
| Cash at bank and in hand | 54/58 | €671,867 | €482,374 | -€189,493 | -28.2% |
| Deferred charges and accrued income | 490/1 | €69,254 | €8,463 | -€60,792 | -87.8% |
| Total equity and liabilities | 10/49 | €853,061 | €715,353 | -€137,708 | -16.1% |
| Equity | 10/15 | €654,467 | €556,204 | -€98,264 | -15.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €634,467 | €536,204 | -€98,264 | -15.5% |
| Provisions and deferred taxes | 16 | €83,151 | €78,403 | -€4,749 | -5.7% |
| Provisions for liabilities and charges | 160/5 | €83,151 | €78,403 | -€4,749 | -5.7% |
| Other liabilities and charges | 164/5 | €83,151 | €78,403 | -€4,749 | -5.7% |
| Amounts payable | 17/49 | €115,442 | €80,747 | -€34,695 | -30.1% |
| Amounts payable within one year | 42/48 | €81,111 | €43,466 | -€37,644 | -46.4% |
| Trade debts | 44 | €22,182 | €3,743 | -€18,439 | -83.1% |
| Suppliers | 440/4 | €22,182 | €3,743 | -€18,439 | -83.1% |
| Taxes, remuneration and social security | 45 | €58,928 | €37,603 | -€21,325 | -36.2% |
| Remuneration and social security | 454/9 | €58,928 | €37,603 | -€21,325 | -36.2% |
| Accrued charges and deferred income | 492/3 | €34,331 | €37,280 | +€2,949 | +8.6% |
| Remuneration, social security and pensions | 62 | €392,355 | €387,843 | -€4,512 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,162 | €52,290 | +€35,129 | +205% |
| Other operating charges | 640/8 | €846 | €1,836 | +€991 | +117% |
| Non-recurring operating charges | 66A | €3,388 | €2,792 | -€596 | -17.6% |
| Gross operating margin | 9900 | €428,924 | €341,995 | -€86,928 | -20.3% |
| Operating profit (loss) | 9901 | €32,580 | -€98,016 | -€130,597 | |
| Financial income | 75/76B | €147 | €5 | -€142 | -96.5% |
| Recurring financial income | 75 | €147 | €5 | -€142 | -96.5% |
| Financial charges | 65/66B | €333 | €252 | -€80 | -24.2% |
| Recurring financial charges | 65 | €333 | €252 | -€80 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €32,394 | -€98,264 | -€130,658 | |
| Profit (loss) for the period | 9904 | €32,394 | -€98,264 | -€130,658 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,394 | -€98,264 | -€130,658 |
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 18 October 2026 via checked.be.