PRAELUDE: what changed
PRAELUDE
Largest movements
- Receivables within one year -€12,589
down €12,589 (-16.4%), from €76,596 to €64,008
of which Trade receivables: -€16,572
- Cash +€9,949
up €9,949 (+72.9%), from €13,653 to €23,602
mainly Other debts (+€86,410) and Net result for the year (+€35,341)
- Deferred charges and accrued income -€2,866
no longer reported in 2025 (was €2,866)
- Other debts +€86,410
up €86,410 (+339%), from €25,500 to €111,910
- Profit (loss) carried forward -€77,109
no longer reported in 2025 (was €77,109)
- Tax, wage and social debts -€15,163
down €15,163 (-75.8%), from €19,995 to €4,832
of which Taxes: -€12,197
- Trade debts +€1,412
up €1,412 (+43.3%), from €3,263 to €4,675
- Gross operating margin -€12,222
down €12,222 (-16.2%), from €75,586 to €63,364
- Depreciation +€3,986
up €3,986 (+37.3%), from €10,696 to €14,683
- Other operating charges -€2,004
down €2,004 (-68.3%), from €2,932 to €928
- Taxes -€1,734
down €1,734 (-12.3%), from €14,064 to €12,329
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €127,866 | €123,417 | -€4,449 | -3.5% |
| Fixed assets | 21/28 | €34,751 | €35,808 | +€1,057 | +3.0% |
| Tangible fixed assets | 22/27 | €34,751 | €35,808 | +€1,057 | +3.0% |
| Plant, machinery and equipment | 23 | €7,788 | €21,368 | +€13,580 | +174% |
| Furniture and vehicles | 24 | €26,963 | €14,440 | -€12,523 | -46.4% |
| Current assets | 29/58 | €93,116 | €87,609 | -€5,506 | -5.9% |
| Amounts receivable within one year | 40/41 | €76,596 | €64,008 | -€12,589 | -16.4% |
| Trade receivables | 40 | €73,167 | €56,595 | -€16,572 | -22.6% |
| Other amounts receivable | 41 | €3,430 | €7,413 | +€3,983 | +116% |
| Cash at bank and in hand | 54/58 | €13,653 | €23,602 | +€9,949 | +72.9% |
| Deferred charges and accrued income | 490/1 | €2,866 | - | -€2,866 | |
| Total equity and liabilities | 10/49 | €127,866 | €123,417 | -€4,449 | -3.5% |
| Equity | 10/15 | €79,109 | €2,000 | -€77,109 | -97.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | €2,000 | €2,000 | = | 0.0% |
| Other | 1109/19 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,109 | - | -€77,109 | |
| Amounts payable | 17/49 | €48,758 | €121,417 | +€72,659 | +149% |
| Amounts payable within one year | 42/48 | €48,758 | €121,417 | +€72,659 | +149% |
| Trade debts | 44 | €3,263 | €4,675 | +€1,412 | +43.3% |
| Suppliers | 440/4 | €3,263 | €4,675 | +€1,412 | +43.3% |
| Taxes, remuneration and social security | 45 | €19,995 | €4,832 | -€15,163 | -75.8% |
| Taxes | 450/3 | €17,029 | €4,832 | -€12,197 | -71.6% |
| Remuneration and social security | 454/9 | €2,966 | - | -€2,966 | |
| Other amounts payable | 47/48 | €25,500 | €111,910 | +€86,410 | +339% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,696 | €14,683 | +€3,986 | +37.3% |
| Other operating charges | 640/8 | €2,932 | €928 | -€2,004 | -68.3% |
| Gross operating margin | 9900 | €75,586 | €63,364 | -€12,222 | -16.2% |
| Operating profit (loss) | 9901 | €61,958 | €47,754 | -€14,205 | -22.9% |
| Financial income | 75/76B | - | €17 | +€17 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Financial charges | 65/66B | €100 | €100 | -€0 | -0.1% |
| Recurring financial charges | 65 | €100 | €100 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €61,858 | €47,670 | -€14,188 | -22.9% |
| Income taxes | 67/77 | €14,064 | €12,329 | -€1,734 | -12.3% |
| Profit (loss) for the period | 9904 | €47,795 | €35,341 | -€12,454 | -26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,795 | €35,341 | -€12,454 | -26.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.