POWERFUL: 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.
POWERFUL
Largest movements
- Cash -€109,724
down €109,724 (-39.1%), from €280,729 to €171,005
mainly Current investments (-€37,500) and Tax, wage and social debts (-€36,591)
- Current investments +€37,500
up €37,500 (+35.3%), from €106,250 to €143,750
- Tax, wage and social debts -€36,591
down €36,591 (-100.0%), from €36,591 to €0
- Reserves -€25,220
down €25,220 (-8.0%), from €314,597 to €289,377
- Debts after one year -€7,001
down €7,001 (-31.0%), from €22,561 to €15,559
- Financial income -€18,513
down €18,513 (-91.5%), from €20,223 to €1,711
- Gross operating margin +€5,593
up €5,593 (+17.0%), from -€32,957 to -€27,364
- Depreciation -€516
down €516 (-38.6%), from €1,336 to €820
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 | €400,158 | €328,548 | -€71,609 | -17.9% |
| Fixed assets | 21/28 | €4,198 | €2,592 | -€1,606 | -38.3% |
| Tangible fixed assets | 22/27 | €4,198 | €2,592 | -€1,606 | -38.3% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,198 | €2,592 | -€1,606 | -38.3% |
| Current assets | 29/58 | €395,960 | €325,957 | -€70,003 | -17.7% |
| Amounts receivable within one year | 40/41 | €8,264 | €10,402 | +€2,138 | +25.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €8,264 | €10,402 | +€2,138 | +25.9% |
| Current investments | 50/53 | €106,250 | €143,750 | +€37,500 | +35.3% |
| Cash at bank and in hand | 54/58 | €280,729 | €171,005 | -€109,724 | -39.1% |
| Deferred charges and accrued income | 490/1 | €716 | €800 | +€83 | +11.6% |
| Total equity and liabilities | 10/49 | €400,158 | €328,548 | -€71,609 | -17.9% |
| Equity | 10/15 | €333,197 | €304,685 | -€28,513 | -8.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €314,597 | €289,377 | -€25,220 | -8.0% |
| Distributable reserves | 133 | €314,597 | €289,377 | -€25,220 | -8.0% |
| Profit (loss) carried forward | 14 | - | -€3,292 | -€3,292 | |
| Amounts payable | 17/49 | €66,960 | €23,864 | -€43,096 | -64.4% |
| Amounts payable after more than one year | 17 | €22,561 | €15,559 | -€7,001 | -31.0% |
| Financial debts | 170/4 | €22,561 | €15,559 | -€7,001 | -31.0% |
| Amounts payable within one year | 42/48 | €44,400 | €8,304 | -€36,095 | -81.3% |
| Current portion of amounts payable after more than one year | 42 | €6,890 | €7,001 | +€111 | +1.6% |
| Trade debts | 44 | €480 | €580 | +€100 | +20.9% |
| Suppliers | 440/4 | €480 | €580 | +€100 | +20.9% |
| Taxes, remuneration and social security | 45 | €36,591 | €0 | -€36,591 | -100.0% |
| Taxes | 450/3 | €36,591 | €0 | -€36,591 | -100.0% |
| Other amounts payable | 47/48 | €438 | €723 | +€285 | +65.0% |
| Non-recurring operating income | 76A | - | €949 | +€949 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,336 | €820 | -€516 | -38.6% |
| Other operating charges | 640/8 | €1,356 | €1,210 | -€146 | -10.8% |
| Gross operating margin | 9900 | -€32,957 | -€27,364 | +€5,593 | +17.0% |
| Operating profit (loss) | 9901 | -€35,649 | -€29,394 | +€6,255 | +17.5% |
| Financial income | 75/76B | €20,223 | €1,711 | -€18,513 | -91.5% |
| Recurring financial income | 75 | €20,223 | €1,711 | -€18,513 | -91.5% |
| Financial charges | 65/66B | €749 | €534 | -€215 | -28.7% |
| Recurring financial charges | 65 | €749 | €534 | -€215 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,174 | -€28,217 | -€12,043 | -74.5% |
| Income taxes | 67/77 | €285 | €296 | +€11 | +3.8% |
| Profit (loss) for the period | 9904 | -€16,459 | -€28,513 | -€12,053 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,459 | -€28,513 | -€12,053 | -73.2% |
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.