REAL LAW: 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.
REAL LAW
Largest movements
- Cash -€79,802
down €79,802 (-87.3%), from €91,441 to €11,639
mainly Trade debts (-€67,059) and Other debts (-€50,392)
- Receivables within one year -€50,022
down €50,022 (-32.0%), from €156,359 to €106,337
of which Trade receivables: -€43,686
- Trade debts -€67,059
down €67,059 (-37.0%), from €181,442 to €114,384
- Other debts -€50,392
down €50,392 (-99.4%), from €50,672 to €280
- Profit (loss) carried forward -€13,539
down €13,539, from €0 to -€13,539
- Gross operating margin -€43,192
down €43,192, from €30,443 to -€12,749
- Taxes -€3,555
down €3,555 (-100.0%), from €3,556 to €0
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 | €250,768 | €120,780 | -€129,987 | -51.8% |
| Fixed assets | 21/28 | €837 | €391 | -€446 | -53.3% |
| Tangible fixed assets | 22/27 | €837 | €391 | -€446 | -53.3% |
| Furniture and vehicles | 24 | €837 | €391 | -€446 | -53.3% |
| Current assets | 29/58 | €249,930 | €120,389 | -€129,541 | -51.8% |
| Amounts receivable within one year | 40/41 | €156,359 | €106,337 | -€50,022 | -32.0% |
| Trade receivables | 40 | €150,010 | €106,323 | -€43,686 | -29.1% |
| Other amounts receivable | 41 | €6,349 | €14 | -€6,335 | -99.8% |
| Cash at bank and in hand | 54/58 | €91,441 | €11,639 | -€79,802 | -87.3% |
| Deferred charges and accrued income | 490/1 | €2,131 | €2,413 | +€282 | +13.2% |
| Total equity and liabilities | 10/49 | €250,768 | €120,780 | -€129,987 | -51.8% |
| Equity | 10/15 | €15,000 | €1,461 | -€13,539 | -90.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€13,539 | -€13,539 | |
| Amounts payable | 17/49 | €235,768 | €119,319 | -€116,448 | -49.4% |
| Amounts payable within one year | 42/48 | €235,672 | €119,309 | -€116,364 | -49.4% |
| Trade debts | 44 | €181,442 | €114,384 | -€67,059 | -37.0% |
| Suppliers | 440/4 | €181,442 | €114,384 | -€67,059 | -37.0% |
| Taxes, remuneration and social security | 45 | €3,558 | €4,645 | +€1,087 | +30.6% |
| Taxes | 450/3 | €3,558 | €4,645 | +€1,087 | +30.6% |
| Other amounts payable | 47/48 | €50,672 | €280 | -€50,392 | -99.4% |
| Accrued charges and deferred income | 492/3 | €95 | €10 | -€85 | -89.2% |
| Non-recurring operating income | 76A | €296 | €128 | -€168 | -56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €446 | €446 | +€0 | 0.0% |
| Other operating charges | 640/8 | €432 | €400 | -€33 | -7.5% |
| Non-recurring operating charges | 66A | €321 | €0 | -€321 | -100.0% |
| Gross operating margin | 9900 | €30,443 | -€12,749 | -€43,192 | |
| Operating profit (loss) | 9901 | €29,244 | -€13,595 | -€42,839 | |
| Financial income | 75/76B | €132 | €324 | +€192 | +146.0% |
| Recurring financial income | 75 | €132 | €324 | +€192 | +146.0% |
| Financial charges | 65/66B | €288 | €267 | -€22 | -7.5% |
| Recurring financial charges | 65 | €288 | €267 | -€22 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €29,087 | -€13,538 | -€42,625 | |
| Income taxes | 67/77 | €3,556 | €0 | -€3,555 | -100.0% |
| Profit (loss) for the period | 9904 | €25,531 | -€13,539 | -€39,070 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,531 | -€13,539 | -€39,070 |
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 8 October 2026 via checked.be.