Prelude: 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.
Prelude
Largest movements
- Tangible fixed assets -€74,105
down €74,105 (-96.3%), from €76,947 to €2,842
- Cash +€51,253
up €51,253 (+102.8%), from €49,837 to €101,090
mainly Investment in fixed assets (net) (+€72,932) and Net result for the year (+€34,055)
- Receivables within one year -€3,530
down €3,530 (-15.5%), from €22,809 to €19,280
of which Trade receivables: -€4,430
- Debts after one year -€45,691
down €45,691 (-100.0%), from €45,691 to €0
- Reserves +€34,055
up €34,055 (+61.7%), from €55,212 to €89,266
- Current portion of long-term debt -€13,952
down €13,952 (-100.0%), from €13,952 to €0
- Other debts -€6,006
down €6,006 (-23.7%), from €25,301 to €19,295
- Tax, wage and social debts +€3,348
up €3,348 (+56.4%), from €5,939 to €9,287
of which Remuneration and social security: +€2,500
- Gross operating margin -€22,767
down €22,767 (-30.7%), from €74,212 to €51,445
- Depreciation -€18,183
down €18,183 (-93.9%), from €19,356 to €1,173
- Other operating charges +€4,350
up €4,350 (+1387.7%), from €313 to €4,663
- Financial charges -€1,728
down €1,728 (-52.7%), from €3,277 to €1,549
- Taxes -€901
down €901 (-8.3%), from €10,906 to €10,006
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 | €152,319 | €125,991 | -€26,328 | -17.3% |
| Fixed assets | 21/28 | €76,947 | €2,842 | -€74,105 | -96.3% |
| Tangible fixed assets | 22/27 | €76,947 | €2,842 | -€74,105 | -96.3% |
| Furniture and vehicles | 24 | €76,947 | €2,842 | -€74,105 | -96.3% |
| Current assets | 29/58 | €75,372 | €123,148 | +€47,776 | +63.4% |
| Amounts receivable within one year | 40/41 | €22,809 | €19,280 | -€3,530 | -15.5% |
| Trade receivables | 40 | €22,657 | €18,227 | -€4,430 | -19.6% |
| Other amounts receivable | 41 | €152 | €1,053 | +€901 | +592.5% |
| Cash at bank and in hand | 54/58 | €49,837 | €101,090 | +€51,253 | +102.8% |
| Deferred charges and accrued income | 490/1 | €2,726 | €2,778 | +€53 | +1.9% |
| Total equity and liabilities | 10/49 | €152,319 | €125,991 | -€26,328 | -17.3% |
| Equity | 10/15 | €56,212 | €90,266 | +€34,055 | +60.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €55,212 | €89,266 | +€34,055 | +61.7% |
| Distributable reserves | 133 | €55,212 | €89,266 | +€34,055 | +61.7% |
| Amounts payable | 17/49 | €96,107 | €35,724 | -€60,383 | -62.8% |
| Amounts payable after more than one year | 17 | €45,691 | €0 | -€45,691 | -100.0% |
| Financial debts | 170/4 | €45,691 | €0 | -€45,691 | -100.0% |
| Amounts payable within one year | 42/48 | €50,416 | €35,724 | -€14,692 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €13,952 | €0 | -€13,952 | -100.0% |
| Trade debts | 44 | €5,224 | €7,141 | +€1,917 | +36.7% |
| Suppliers | 440/4 | €5,224 | €7,141 | +€1,917 | +36.7% |
| Taxes, remuneration and social security | 45 | €5,939 | €9,287 | +€3,348 | +56.4% |
| Taxes | 450/3 | €5,939 | €6,787 | +€848 | +14.3% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | €25,301 | €19,295 | -€6,006 | -23.7% |
| Remuneration, social security and pensions | 62 | €65 | €0 | -€65 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,356 | €1,173 | -€18,183 | -93.9% |
| Other operating charges | 640/8 | €313 | €4,663 | +€4,350 | +1387.7% |
| Gross operating margin | 9900 | €74,212 | €51,445 | -€22,767 | -30.7% |
| Operating profit (loss) | 9901 | €54,478 | €45,610 | -€8,868 | -16.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,277 | €1,549 | -€1,728 | -52.7% |
| Recurring financial charges | 65 | €3,277 | €1,549 | -€1,728 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €51,201 | €44,061 | -€7,140 | -13.9% |
| Income taxes | 67/77 | €10,906 | €10,006 | -€901 | -8.3% |
| Profit (loss) for the period | 9904 | €40,295 | €34,055 | -€6,240 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,295 | €34,055 | -€6,240 | -15.5% |
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 7 October 2026 via checked.be.