PRIORITY MANAGEMENT: 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.
PRIORITY MANAGEMENT
Largest movements
- Receivables after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash +€84,669
up €84,669 (+4716.3%), from €1,795 to €86,464
mainly Receivables after one year (+€100,000) and Other debts (+€64,298)
- Receivables within one year -€12,037
down €12,037 (-15.0%), from €80,012 to €67,975
of which Trade receivables: -€7,037
- Tangible fixed assets -€8,515
down €8,515 (-73.5%), from €11,584 to €3,069
of which Other tangible fixed assets: -€7,741
- Intangible fixed assets -€3,955
down €3,955 (-34.6%), from €11,437 to €7,481
- Reserves -€66,466
down €66,466 (-60.7%), from €109,462 to €42,996
of which Distributable reserves: -€66,466
- Other debts +€64,298
up €64,298 (+1638.4%), from €3,924 to €68,222
- Debts after one year -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Current portion of long-term debt +€30,000
new in 2025: €30,000
- Short-term financial debts -€23,621
down €23,621 (-100.0%), from €23,621 to €0
- Gross operating margin -€32,007
down €32,007 (-79.8%), from €40,117 to €8,110
- Taxes -€10,548
down €10,548 (-87.2%), from €12,091 to €1,543
- Financial income -€1,790
down €1,790 (-52.6%), from €3,405 to €1,615
- Depreciation -€1,606
down €1,606 (-25.4%), from €6,336 to €4,730
- Financial charges -€750
down €750 (-21.1%), from €3,564 to €2,814
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 | €219,326 | €181,663 | -€37,663 | -17.2% |
| Fixed assets | 21/28 | €23,021 | €10,550 | -€12,471 | -54.2% |
| Intangible fixed assets | 21 | €11,437 | €7,481 | -€3,955 | -34.6% |
| Tangible fixed assets | 22/27 | €11,584 | €3,069 | -€8,515 | -73.5% |
| Plant, machinery and equipment | 23 | €629 | €180 | -€449 | -71.3% |
| Furniture and vehicles | 24 | €433 | €107 | -€326 | -75.3% |
| Other tangible fixed assets | 26 | €10,523 | €2,782 | -€7,741 | -73.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €196,305 | €171,113 | -€25,192 | -12.8% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100.0% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100.0% |
| Stocks and contracts in progress | 3 | €5,433 | €5,433 | = | 0.0% |
| Stocks | 30/36 | €5,433 | €5,433 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,012 | €67,975 | -€12,037 | -15.0% |
| Trade receivables | 40 | €10,012 | €2,975 | -€7,037 | -70.3% |
| Other amounts receivable | 41 | €70,000 | €65,000 | -€5,000 | -7.1% |
| Cash at bank and in hand | 54/58 | €1,795 | €86,464 | +€84,669 | +4716.3% |
| Deferred charges and accrued income | 490/1 | €9,064 | €11,240 | +€2,175 | +24.0% |
| Total equity and liabilities | 10/49 | €219,326 | €181,663 | -€37,663 | -17.2% |
| Equity | 10/15 | €129,302 | €62,836 | -€66,466 | -51.4% |
| Contributions | 10/11 | €19,840 | €19,840 | = | 0.0% |
| Reserves | 13 | €109,462 | €42,996 | -€66,466 | -60.7% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €104,462 | €37,996 | -€66,466 | -63.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,024 | €118,827 | +€28,803 | +32.0% |
| Amounts payable after more than one year | 17 | €30,000 | €0 | -€30,000 | -100.0% |
| Other amounts payable | 178/9 | €30,000 | €0 | -€30,000 | -100.0% |
| Amounts payable within one year | 42/48 | €59,059 | €117,600 | +€58,541 | +99.1% |
| Current portion of amounts payable after more than one year | 42 | - | €30,000 | +€30,000 | |
| Financial debts | 43 | €23,621 | €0 | -€23,621 | -100.0% |
| Credit institutions | 430/8 | €23,621 | €0 | -€23,621 | -100.0% |
| Trade debts | 44 | €5,236 | €2,794 | -€2,442 | -46.6% |
| Suppliers | 440/4 | €5,236 | €2,794 | -€2,442 | -46.6% |
| Taxes, remuneration and social security | 45 | €26,278 | €16,583 | -€9,694 | -36.9% |
| Taxes | 450/3 | €26,278 | €16,583 | -€9,694 | -36.9% |
| Other amounts payable | 47/48 | €3,924 | €68,222 | +€64,298 | +1638.4% |
| Accrued charges and deferred income | 492/3 | €964 | €1,227 | +€263 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,336 | €4,730 | -€1,606 | -25.4% |
| Other operating charges | 640/8 | €781 | €772 | -€9 | -1.1% |
| Gross operating margin | 9900 | €40,117 | €8,110 | -€32,007 | -79.8% |
| Operating profit (loss) | 9901 | €33,000 | €2,608 | -€30,392 | -92.1% |
| Financial income | 75/76B | €3,405 | €1,615 | -€1,790 | -52.6% |
| Recurring financial income | 75 | €3,405 | €1,615 | -€1,790 | -52.6% |
| Financial charges | 65/66B | €3,564 | €2,814 | -€750 | -21.1% |
| Recurring financial charges | 65 | €3,564 | €2,814 | -€750 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €32,841 | €1,410 | -€31,431 | -95.7% |
| Income taxes | 67/77 | €12,091 | €1,543 | -€10,548 | -87.2% |
| Profit (loss) for the period | 9904 | €20,750 | -€133 | -€20,883 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,750 | -€133 | -€20,883 |
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 10 October 2026 via checked.be.