R&P: 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.
R&P
Largest movements
- Cash -€37,849
down €37,849 (-68.4%), from €55,359 to €17,509
mainly Net result for the year (-€46,336) and Stocks and contracts (-€25,857)
- Stocks and contracts +€25,857
up €25,857 (+54.5%), from €47,479 to €73,337
- Receivables within one year +€14,323
up €14,323 (+32.4%), from €44,166 to €58,489
of which Trade receivables: +€21,478
- Financial fixed assets +€4,500
new in 2025: €4,500
- Tangible fixed assets -€2,412
down €2,412 (-32.6%), from €7,395 to €4,983
of which Furniture and vehicles: -€3,000
- Profit (loss) carried forward -€46,336
down €46,336 (-104.2%), from -€44,460 to -€90,795
- Trade debts +€19,135
up €19,135 (+62.8%), from €30,459 to €49,594
- Other debts +€18,993
up €18,993 (+13526.7%), from €140 to €19,133
- Tax, wage and social debts +€15,763
up €15,763 (+155.6%), from €10,131 to €25,895
of which Remuneration and social security: +€11,040
- Current portion of long-term debt -€3,127
no longer reported in 2025 (was €3,127)
- Gross operating margin +€54,982
up €54,982, from -€43,899 to €11,083
- Staff costs +€52,958
new in 2025: €52,958
- Financial income -€1,613
down €1,613 (-87.9%), from €1,834 to €221
- Depreciation +€1,149
up €1,149 (+55.7%), from €2,063 to €3,212
- Other operating charges +€604
up €604 (+95.8%), from €631 to €1,234
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 | €154,398 | €158,826 | +€4,428 | +2.9% |
| Fixed assets | 21/28 | €7,395 | €9,483 | +€2,088 | +28.2% |
| Tangible fixed assets | 22/27 | €7,395 | €4,983 | -€2,412 | -32.6% |
| Plant, machinery and equipment | 23 | €190 | €778 | +€588 | +310.3% |
| Furniture and vehicles | 24 | €7,205 | €4,205 | -€3,000 | -41.6% |
| Financial fixed assets | 28 | - | €4,500 | +€4,500 | |
| Current assets | 29/58 | €147,004 | €149,343 | +€2,340 | +1.6% |
| Stocks and contracts in progress | 3 | €47,479 | €73,337 | +€25,857 | +54.5% |
| Stocks | 30/36 | €47,479 | €73,337 | +€25,857 | +54.5% |
| Amounts receivable within one year | 40/41 | €44,166 | €58,489 | +€14,323 | +32.4% |
| Trade receivables | 40 | €37,011 | €58,489 | +€21,478 | +58.0% |
| Other amounts receivable | 41 | €7,155 | - | -€7,155 | |
| Cash at bank and in hand | 54/58 | €55,359 | €17,509 | -€37,849 | -68.4% |
| Deferred charges and accrued income | 490/1 | - | €8 | +€8 | |
| Total equity and liabilities | 10/49 | €154,398 | €158,826 | +€4,428 | +2.9% |
| Equity | 10/15 | €110,540 | €64,205 | -€46,336 | -41.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €150,000 | €150,000 | = | 0.0% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,460 | -€90,795 | -€46,336 | -104.2% |
| Amounts payable | 17/49 | €43,858 | €94,622 | +€50,764 | +115.7% |
| Amounts payable within one year | 42/48 | €43,858 | €94,622 | +€50,764 | +115.7% |
| Current portion of amounts payable after more than one year | 42 | €3,127 | - | -€3,127 | |
| Trade debts | 44 | €30,459 | €49,594 | +€19,135 | +62.8% |
| Suppliers | 440/4 | €30,459 | €49,594 | +€19,135 | +62.8% |
| Taxes, remuneration and social security | 45 | €10,131 | €25,895 | +€15,763 | +155.6% |
| Taxes | 450/3 | €7,525 | €12,248 | +€4,723 | +62.8% |
| Remuneration and social security | 454/9 | €2,606 | €13,646 | +€11,040 | +423.6% |
| Other amounts payable | 47/48 | €140 | €19,133 | +€18,993 | +13526.7% |
| Remuneration, social security and pensions | 62 | - | €52,958 | +€52,958 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,063 | €3,212 | +€1,149 | +55.7% |
| Other operating charges | 640/8 | €631 | €1,234 | +€604 | +95.8% |
| Gross operating margin | 9900 | -€43,899 | €11,083 | +€54,982 | |
| Operating profit (loss) | 9901 | -€46,593 | -€46,322 | +€271 | +0.6% |
| Financial income | 75/76B | €1,834 | €221 | -€1,613 | -87.9% |
| Recurring financial income | 75 | €1,834 | €221 | -€1,613 | -87.9% |
| Financial charges | 65/66B | €159 | - | -€159 | |
| Recurring financial charges | 65 | €159 | - | -€159 | |
| Profit (loss) for the period before taxes | 9903 | -€44,918 | -€46,101 | -€1,183 | -2.6% |
| Income taxes | 67/77 | €270 | €235 | -€34 | -12.8% |
| Profit (loss) for the period | 9904 | -€45,188 | -€46,336 | -€1,148 | -2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,188 | -€46,336 | -€1,148 | -2.5% |
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 12 October 2026 via checked.be.