PLAY IT: 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.
PLAY IT
Largest movements
- Receivables within one year -€358,992
down €358,992 (-52.9%), from €678,001 to €319,009
of which Trade receivables: -€365,234
- Cash +€200,770
up €200,770 (+147.2%), from €136,383 to €337,153
mainly Receivables within one year (+€358,992) and Depreciation (+€352,792)
- Intangible fixed assets +€81,918
up €81,918 (+6.0%), from €1.4m to €1.4m
- Debts after one year +€306,201
up €306,201 (+26.8%), from €1.1m to €1.5m
- Profit (loss) carried forward -€269,379
down €269,379 (-30.4%), from -€884,895 to -€1.2m
- Trade debts -€86,196
down €86,196 (-54.1%), from €159,198 to €73,002
- Other debts +€66,000
new in 2025: €66,000
- Short-term financial debts -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Staff costs -€627,646
down €627,646 (-53.1%), from €1.2m to €554,307
- Gross operating margin -€215,684
down €215,684 (-21.4%), from €1.0m to €794,199
- Depreciation +€110,681
up €110,681 (+45.7%), from €242,111 to €352,792
- Financial charges +€45,972
up €45,972 (+38.2%), from €120,500 to €166,472
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 | €2,205,193 | €2,112,458 | -€92,735 | -4.2% |
| Fixed assets | 21/28 | €1,373,099 | €1,448,438 | +€75,338 | +5.5% |
| Intangible fixed assets | 21 | €1,364,630 | €1,446,548 | +€81,918 | +6.0% |
| Tangible fixed assets | 22/27 | €8,469 | €1,890 | -€6,579 | -77.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,469 | €1,890 | -€6,579 | -77.7% |
| Current assets | 29/58 | €832,094 | €664,021 | -€168,073 | -20.2% |
| Amounts receivable within one year | 40/41 | €678,001 | €319,009 | -€358,992 | -52.9% |
| Trade receivables | 40 | €644,690 | €279,455 | -€365,234 | -56.7% |
| Other amounts receivable | 41 | €33,311 | €39,553 | +€6,242 | +18.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €136,383 | €337,153 | +€200,770 | +147.2% |
| Deferred charges and accrued income | 490/1 | €17,710 | €7,859 | -€9,851 | -55.6% |
| Total equity and liabilities | 10/49 | €2,205,193 | €2,112,458 | -€92,735 | -4.2% |
| Equity | 10/15 | -€249,487 | -€518,871 | -€269,384 | -108.0% |
| Contributions | 10/11 | €632,008 | €632,002 | -€6 | 0.0% |
| Reserves | 13 | €3,400 | €3,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €170 | €170 | = | 0.0% |
| Reserves not available under the articles | 1311 | €170 | €170 | = | 0.0% |
| Distributable reserves | 133 | €3,230 | €3,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€884,895 | -€1,154,274 | -€269,379 | -30.4% |
| Amounts payable | 17/49 | €2,454,680 | €2,631,330 | +€176,650 | +7.2% |
| Amounts payable after more than one year | 17 | €1,144,558 | €1,450,758 | +€306,201 | +26.8% |
| Financial debts | 170/4 | €1,144,558 | €1,450,758 | +€306,201 | +26.8% |
| Amounts payable within one year | 42/48 | €440,383 | €348,958 | -€91,425 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €105,552 | €125,570 | +€20,018 | +19.0% |
| Financial debts | 43 | €50,000 | €0 | -€50,000 | -100.0% |
| Credit institutions | 430/8 | €50,000 | €0 | -€50,000 | -100.0% |
| Trade debts | 44 | €159,198 | €73,002 | -€86,196 | -54.1% |
| Suppliers | 440/4 | €159,198 | €73,002 | -€86,196 | -54.1% |
| Taxes, remuneration and social security | 45 | €125,633 | €84,387 | -€41,246 | -32.8% |
| Taxes | 450/3 | €40,569 | €36,995 | -€3,574 | -8.8% |
| Remuneration and social security | 454/9 | €85,064 | €47,391 | -€37,673 | -44.3% |
| Other amounts payable | 47/48 | - | €66,000 | +€66,000 | |
| Accrued charges and deferred income | 492/3 | €869,740 | €831,613 | -€38,126 | -4.4% |
| Remuneration, social security and pensions | 62 | €1,181,953 | €554,307 | -€627,646 | -53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,111 | €352,792 | +€110,681 | +45.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,382 | €3,766 | -€1,616 | -30.0% |
| Gross operating margin | 9900 | €1,009,883 | €794,199 | -€215,684 | -21.4% |
| Operating profit (loss) | 9901 | -€419,563 | -€116,666 | +€302,897 | +72.2% |
| Financial income | 75/76B | €3,509 | €0 | -€3,509 | -100.0% |
| Recurring financial income | 75 | €3,509 | €0 | -€3,509 | -100.0% |
| Financial charges | 65/66B | €120,500 | €166,472 | +€45,972 | +38.2% |
| Recurring financial charges | 65 | €120,500 | €166,472 | +€45,972 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | -€536,555 | -€283,138 | +€253,417 | +47.2% |
| Income taxes | 67/77 | -€19,567 | -€13,759 | +€5,808 | +29.7% |
| Profit (loss) for the period | 9904 | -€516,988 | -€269,379 | +€247,609 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€516,988 | -€269,379 | +€247,609 | +47.9% |
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 12 October 2026 via checked.be.