RED ALARM: 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.
RED ALARM
Largest movements
- Stocks and contracts -€19,483
no longer reported in 2025 (was €19,483)
- Cash -€6,517
down €6,517 (-75.6%), from €8,623 to €2,106
mainly Trade debts (-€79,268) and Receivables within one year (-€5,383)
- Receivables within one year +€5,383
up €5,383 (+12.7%), from €42,229 to €47,612
of which Trade receivables: +€16,588
- Intangible fixed assets -€2,429
no longer reported in 2025 (was €2,429)
- Deferred charges and accrued income -€1,075
no longer reported in 2025 (was €1,075)
- Trade debts -€79,268
down €79,268 (-62.6%), from €126,533 to €47,265
- Other debts +€31,457
up €31,457 (+105%), from €30,000 to €61,457
- Profit (loss) carried forward +€22,872
up €22,872 (+23.9%), from -€95,900 to -€73,027
- Gross operating margin +€75,918
up €75,918, from -€51,714 to €24,205
- Staff costs -€6,113
down €6,113, from €5,982 to -€131
- Financial charges -€5,979
down €5,979 (-86.5%), from €6,913 to €934
- Depreciation -€1,023
down €1,023 (-81.0%), from €1,264 to €240
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.
Derived cash bridge
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 | €75,023 | €49,955 | -€25,068 | -33.4% |
| Fixed assets | 21/28 | €3,613 | €237 | -€3,376 | -93.4% |
| Intangible fixed assets | 21 | €2,429 | - | -€2,429 | |
| Tangible fixed assets | 22/27 | €948 | - | -€948 | |
| Furniture and vehicles | 24 | €948 | - | -€948 | |
| Financial fixed assets | 28 | €237 | €237 | = | 0.0% |
| Current assets | 29/58 | €71,410 | €49,718 | -€21,692 | -30.4% |
| Stocks and contracts in progress | 3 | €19,483 | - | -€19,483 | |
| Stocks | 30/36 | €19,483 | - | -€19,483 | |
| Amounts receivable within one year | 40/41 | €42,229 | €47,612 | +€5,383 | +12.7% |
| Trade receivables | 40 | €25,263 | €41,851 | +€16,588 | +65.7% |
| Other amounts receivable | 41 | €16,966 | €5,761 | -€11,205 | -66.0% |
| Cash at bank and in hand | 54/58 | €8,623 | €2,106 | -€6,517 | -75.6% |
| Deferred charges and accrued income | 490/1 | €1,075 | - | -€1,075 | |
| Total equity and liabilities | 10/49 | €75,023 | €49,955 | -€25,068 | -33.4% |
| Equity | 10/15 | -€81,640 | -€58,767 | +€22,872 | +28.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,900 | -€73,027 | +€22,872 | +23.9% |
| Amounts payable | 17/49 | €156,662 | €108,722 | -€47,940 | -30.6% |
| Amounts payable within one year | 42/48 | €156,662 | €108,722 | -€47,940 | -30.6% |
| Trade debts | 44 | €126,533 | €47,265 | -€79,268 | -62.6% |
| Suppliers | 440/4 | €126,533 | €47,265 | -€79,268 | -62.6% |
| Taxes, remuneration and social security | 45 | €129 | €0 | -€129 | -100.0% |
| Taxes | 450/3 | €129 | €0 | -€129 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | -€0 | |
| Other amounts payable | 47/48 | €30,000 | €61,457 | +€31,457 | +105% |
| Non-recurring operating income | 76A | - | €56,462 | +€56,462 | |
| Remuneration, social security and pensions | 62 | €5,982 | -€131 | -€6,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,264 | €240 | -€1,023 | -81.0% |
| Other operating charges | 640/8 | €907 | €718 | -€189 | -20.8% |
| Gross operating margin | 9900 | -€51,714 | €24,205 | +€75,918 | |
| Operating profit (loss) | 9901 | -€59,866 | €23,377 | +€83,243 | |
| Financial income | 75/76B | €91 | €429 | +€338 | +369% |
| Recurring financial income | 75 | €91 | €429 | +€338 | +369% |
| Financial charges | 65/66B | €6,913 | €934 | -€5,979 | -86.5% |
| Recurring financial charges | 65 | €6,913 | €934 | -€5,979 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | -€66,687 | €22,872 | +€89,559 | |
| Income taxes | 67/77 | €4 | - | -€4 | |
| Profit (loss) for the period | 9904 | -€66,691 | €22,872 | +€89,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,691 | €22,872 | +€89,563 |
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 20 October 2026 via checked.be.