PLUS 1: 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.
PLUS 1
Largest movements
- Tangible fixed assets -€22,413
down €22,413 (-96.5%), from €23,234 to €822
of which Leasing and similar rights: -€22,198
- Deferred charges and accrued income -€20,701
no longer reported in 2025 (was €20,701)
- Receivables within one year +€18,354
up €18,354 (+626%), from €2,934 to €21,287
of which Other amounts receivable: +€19,770
- Financial fixed assets +€800
new in 2025: €800
- Current investments -€576
no longer reported in 2025 (was €576)
- Debts after one year -€17,695
no longer reported in 2025 (was €17,695)
- Profit (loss) carried forward -€13,200
down €13,200 (-14.1%), from -€93,873 to -€107,073
- Short-term financial debts +€9,959
up €9,959 (+41.4%), from €24,060 to €34,019
- Current portion of long-term debt -€6,930
no longer reported in 2025 (was €6,930)
- Other debts +€2,992
up €2,992 (+12.7%), from €23,563 to €26,555
- Gross operating margin -€64,946
down €64,946, from €55,787 to -€9,159
- Depreciation -€4,650
down €4,650 (-95.6%), from €4,865 to €215
- Other operating charges -€1,947
down €1,947 (-88.7%), from €2,196 to €249
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 | €47,445 | €22,933 | -€24,512 | -51.7% |
| Fixed assets | 21/28 | €23,234 | €1,622 | -€21,613 | -93.0% |
| Tangible fixed assets | 22/27 | €23,234 | €822 | -€22,413 | -96.5% |
| Furniture and vehicles | 24 | €1,036 | €822 | -€215 | -20.7% |
| Leasing and similar rights | 25 | €22,198 | - | -€22,198 | |
| Financial fixed assets | 28 | - | €800 | +€800 | |
| Current assets | 29/58 | €24,211 | €21,311 | -€2,900 | -12.0% |
| Amounts receivable within one year | 40/41 | €2,934 | €21,287 | +€18,354 | +626% |
| Trade receivables | 40 | €1,416 | - | -€1,416 | |
| Other amounts receivable | 41 | €1,517 | €21,287 | +€19,770 | +1,303% |
| Current investments | 50/53 | €576 | - | -€576 | |
| Cash at bank and in hand | 54/58 | - | €24 | +€24 | |
| Deferred charges and accrued income | 490/1 | €20,701 | - | -€20,701 | |
| Total equity and liabilities | 10/49 | €47,445 | €22,933 | -€24,512 | -51.7% |
| Equity | 10/15 | -€26,288 | -€39,489 | -€13,200 | -50.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €5,611 | €5,611 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,611 | €5,611 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,611 | €5,611 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,873 | -€107,073 | -€13,200 | -14.1% |
| Amounts payable | 17/49 | €73,733 | €62,422 | -€11,312 | -15.3% |
| Amounts payable after more than one year | 17 | €17,695 | - | -€17,695 | |
| Financial debts | 170/4 | €17,695 | - | -€17,695 | |
| Amounts payable within one year | 42/48 | €56,039 | €62,422 | +€6,383 | +11.4% |
| Current portion of amounts payable after more than one year | 42 | €6,930 | - | -€6,930 | |
| Financial debts | 43 | €24,060 | €34,019 | +€9,959 | +41.4% |
| Credit institutions | 430/8 | €24,060 | €34,019 | +€9,959 | +41.4% |
| Trade debts | 44 | - | €1,847 | +€1,847 | |
| Suppliers | 440/4 | - | €1,847 | +€1,847 | |
| Taxes, remuneration and social security | 45 | €1,485 | - | -€1,485 | |
| Taxes | 450/3 | €1,485 | - | -€1,485 | |
| Other amounts payable | 47/48 | €23,563 | €26,555 | +€2,992 | +12.7% |
| Non-recurring operating income | 76A | €6,742 | €564 | -€6,178 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,865 | €215 | -€4,650 | -95.6% |
| Other operating charges | 640/8 | €2,196 | €249 | -€1,947 | -88.7% |
| Non-recurring operating charges | 66A | - | €1,988 | +€1,988 | |
| Gross operating margin | 9900 | €55,787 | -€9,159 | -€64,946 | |
| Operating profit (loss) | 9901 | €48,726 | -€11,611 | -€60,336 | |
| Financial charges | 65/66B | €776 | €1,238 | +€462 | +59.5% |
| Recurring financial charges | 65 | €776 | €1,238 | +€462 | +59.5% |
| Profit (loss) for the period before taxes | 9903 | €47,949 | -€12,849 | -€60,798 | |
| Income taxes | 67/77 | - | €352 | +€352 | |
| Profit (loss) for the period | 9904 | €47,949 | -€13,200 | -€61,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,949 | -€13,200 | -€61,150 |
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 13 October 2026 via checked.be.