PRODUCT-PROOF: what changed
PRODUCT-PROOF
Largest movements
- Cash -€11,988
down €11,988 (-57.9%), from €20,713 to €8,725
mainly Net result for the year (-€47,863) and Current portion of long-term debt (-€3,501)
- Tangible fixed assets -€11,262
down €11,262 (-15.4%), from €72,899 to €61,636
of which Furniture and vehicles: -€7,143
- Receivables within one year +€1,667
up €1,667 (+42.0%), from €3,965 to €5,632
of which Trade receivables: +€1,667
- Profit (loss) carried forward -€47,863
down €47,863 (-337%), from -€14,216 to -€62,079
- Other debts +€19,404
up €19,404 (+29.6%), from €65,502 to €84,906
- Trade debts +€15,316
up €15,316 (+114%), from €13,460 to €28,776
- Current portion of long-term debt -€3,501
down €3,501 (-57.9%), from €6,042 to €2,541
- Tax, wage and social debts -€3,451
down €3,451 (-96.2%), from €3,587 to €135
- Gross operating margin -€51,941
down €51,941, from €17,660 to -€34,282
- Taxes +€1,000
no longer reported in 2025 (was -€1,000)
- Depreciation -€402
down €402 (-3.1%), from €12,966 to €12,564
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 | €97,577 | €75,993 | -€21,584 | -22.1% |
| Fixed assets | 21/28 | €72,899 | €61,636 | -€11,262 | -15.4% |
| Tangible fixed assets | 22/27 | €72,899 | €61,636 | -€11,262 | -15.4% |
| Land and buildings | 22 | €46,424 | €43,827 | -€2,597 | -5.6% |
| Plant, machinery and equipment | 23 | €16,039 | €14,517 | -€1,522 | -9.5% |
| Furniture and vehicles | 24 | €10,436 | €3,293 | -€7,143 | -68.4% |
| Current assets | 29/58 | €24,679 | €14,357 | -€10,322 | -41.8% |
| Amounts receivable within one year | 40/41 | €3,965 | €5,632 | +€1,667 | +42.0% |
| Trade receivables | 40 | €965 | €2,632 | +€1,667 | +173% |
| Other amounts receivable | 41 | €3,000 | €3,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,713 | €8,725 | -€11,988 | -57.9% |
| Total equity and liabilities | 10/49 | €97,577 | €75,993 | -€21,584 | -22.1% |
| Equity | 10/15 | €4,834 | -€43,029 | -€47,863 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €450 | €450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €450 | €450 | = | 0.0% |
| Legal reserve | 130 | €450 | €450 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,216 | -€62,079 | -€47,863 | -337% |
| Amounts payable | 17/49 | €92,743 | €119,022 | +€26,279 | +28.3% |
| Amounts payable after more than one year | 17 | €2,541 | - | -€2,541 | |
| Financial debts | 170/4 | €2,541 | - | -€2,541 | |
| Amounts payable within one year | 42/48 | €88,591 | €117,407 | +€28,816 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €6,042 | €2,541 | -€3,501 | -57.9% |
| Trade debts | 44 | €13,460 | €28,776 | +€15,316 | +114% |
| Suppliers | 440/4 | €13,460 | €28,776 | +€15,316 | +114% |
| Advances received on contracts in progress | 46 | - | €1,049 | +€1,049 | |
| Taxes, remuneration and social security | 45 | €3,587 | €135 | -€3,451 | -96.2% |
| Taxes | 450/3 | €3,587 | €135 | -€3,451 | -96.2% |
| Other amounts payable | 47/48 | €65,502 | €84,906 | +€19,404 | +29.6% |
| Accrued charges and deferred income | 492/3 | €1,612 | €1,615 | +€4 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,966 | €12,564 | -€402 | -3.1% |
| Other operating charges | 640/8 | €592 | €740 | +€149 | +25.1% |
| Gross operating margin | 9900 | €17,660 | -€34,282 | -€51,941 | |
| Operating profit (loss) | 9901 | €4,103 | -€47,586 | -€51,688 | |
| Financial income | 75/76B | €50 | €8 | -€42 | -84.4% |
| Recurring financial income | 75 | €50 | €8 | -€42 | -84.4% |
| Financial charges | 65/66B | €369 | €285 | -€84 | -22.8% |
| Recurring financial charges | 65 | €369 | €285 | -€84 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €3,783 | -€47,863 | -€51,646 | |
| Income taxes | 67/77 | -€1,000 | - | +€1,000 | |
| Profit (loss) for the period | 9904 | €4,783 | -€47,863 | -€52,646 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,783 | -€47,863 | -€52,646 |
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 8 November 2026 via checked.be.