Red Dust: 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 Dust
Largest movements
- Cash -€90,367
down €90,367 (-81.0%), from €111,606 to €21,239
mainly Trade debts (-€143,077) and Tax, wage and social debts (-€8,666)
- Receivables within one year -€48,354
down €48,354 (-33.5%), from €144,140 to €95,786
of which Trade receivables: -€51,344
- Tangible fixed assets -€6,514
down €6,514 (-60.5%), from €10,767 to €4,253
of which Furniture and vehicles: -€3,973
- Trade debts -€143,077
down €143,077 (-85.0%), from €168,330 to €25,254
- Tax, wage and social debts -€8,666
down €8,666 (-59.6%), from €14,533 to €5,867
of which Taxes: -€13,435
- Other debts -€7,935
down €7,935 (-100%), from €7,935 to €0
- Profit (loss) carried forward +€7,044
up €7,044 (+10.9%), from €64,564 to €71,608
- Short-term financial debts +€5,000
new in 2025: €5,000
- Staff costs +€40,447
new in 2025: €40,447
- Gross operating margin +€18,126
up €18,126 (+37.0%), from €48,944 to €67,070
- Depreciation -€2,372
down €2,372 (-26.7%), from €8,887 to €6,514
- Taxes -€1,425
down €1,425 (-18.5%), from €7,685 to €6,260
- Financial income +€1,097
up €1,097 (+1,658%), from €66 to €1,163
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 | €270,469 | €122,763 | -€147,706 | -54.6% |
| Fixed assets | 21/28 | €11,392 | €4,878 | -€6,514 | -57.2% |
| Tangible fixed assets | 22/27 | €10,767 | €4,253 | -€6,514 | -60.5% |
| Plant, machinery and equipment | 23 | €879 | €125 | -€754 | -85.8% |
| Furniture and vehicles | 24 | €8,102 | €4,128 | -€3,973 | -49.0% |
| Leasing and similar rights | 25 | €1,787 | €0 | -€1,787 | -100% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €259,077 | €117,885 | -€141,192 | -54.5% |
| Amounts receivable within one year | 40/41 | €144,140 | €95,786 | -€48,354 | -33.5% |
| Trade receivables | 40 | €140,957 | €89,613 | -€51,344 | -36.4% |
| Other amounts receivable | 41 | €3,183 | €6,173 | +€2,990 | +93.9% |
| Cash at bank and in hand | 54/58 | €111,606 | €21,239 | -€90,367 | -81.0% |
| Deferred charges and accrued income | 490/1 | €3,331 | €860 | -€2,471 | -74.2% |
| Total equity and liabilities | 10/49 | €270,469 | €122,763 | -€147,706 | -54.6% |
| Equity | 10/15 | €73,598 | €80,642 | +€7,044 | +9.6% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €8,934 | €8,934 | = | 0.0% |
| Distributable reserves | 133 | €8,934 | €8,934 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,564 | €71,608 | +€7,044 | +10.9% |
| Amounts payable | 17/49 | €196,871 | €42,121 | -€154,750 | -78.6% |
| Amounts payable after more than one year | 17 | €6,000 | €6,000 | = | 0.0% |
| Financial debts | 170/4 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,798 | €36,121 | -€154,677 | -81.1% |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €168,330 | €25,254 | -€143,077 | -85.0% |
| Suppliers | 440/4 | €168,330 | €25,254 | -€143,077 | -85.0% |
| Taxes, remuneration and social security | 45 | €14,533 | €5,867 | -€8,666 | -59.6% |
| Taxes | 450/3 | €14,533 | €1,098 | -€13,435 | -92.4% |
| Remuneration and social security | 454/9 | - | €4,769 | +€4,769 | |
| Other amounts payable | 47/48 | €7,935 | €0 | -€7,935 | -100% |
| Accrued charges and deferred income | 492/3 | €73 | €0 | -€73 | -100% |
| Remuneration, social security and pensions | 62 | - | €40,447 | +€40,447 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,887 | €6,514 | -€2,372 | -26.7% |
| Other operating charges | 640/8 | €503 | €778 | +€275 | +54.6% |
| Gross operating margin | 9900 | €48,944 | €67,070 | +€18,126 | +37.0% |
| Operating profit (loss) | 9901 | €39,554 | €19,331 | -€20,223 | -51.1% |
| Financial income | 75/76B | €66 | €1,163 | +€1,097 | +1,658% |
| Recurring financial income | 75 | €66 | €1,163 | +€1,097 | +1,658% |
| Financial charges | 65/66B | €2,975 | €2,484 | -€491 | -16.5% |
| Recurring financial charges | 65 | €2,975 | €2,484 | -€491 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €36,645 | €18,010 | -€18,635 | -50.9% |
| Income taxes | 67/77 | €7,685 | €6,260 | -€1,425 | -18.5% |
| Profit (loss) for the period | 9904 | €28,960 | €11,750 | -€17,210 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,960 | €11,750 | -€17,210 | -59.4% |
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.