REDLINE CONSULT: 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.
REDLINE CONSULT
Largest movements
- Cash -€39,501
down €39,501 (-55.3%), from €71,369 to €31,867
mainly Net result for the year (-€39,735) and Investment in fixed assets (net) (-€31,909)
- Profit (loss) carried forward -€28,885
down €28,885 (-14.8%), from -€194,960 to -€223,845
- Debts after one year -€13,239
down €13,239 (-37.2%), from €35,588 to €22,348
- Reserves -€10,850
down €10,850 (-1.7%), from €647,178 to €636,328
of which Tax-exempt reserves: -€10,850
- Other debts +€6,747
up €6,747 (+104%), from €6,473 to €13,220
- Current portion of long-term debt +€6,444
up €6,444 (+59.9%), from €10,760 to €17,205
- Gross operating margin +€3,371
up €3,371 (+41.6%), from -€8,103 to -€4,732
- Depreciation -€2,625
down €2,625 (-7.1%), from €36,740 to €34,115
- Other operating charges +€647
up €647 (+17.6%), from €3,665 to €4,311
- Financial charges +€192
up €192 (+22.9%), from €839 to €1,031
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 | €634,091 | €591,367 | -€42,724 | -6.7% |
| Fixed assets | 21/28 | €515,008 | €512,802 | -€2,205 | -0.4% |
| Tangible fixed assets | 22/27 | €415,008 | €412,802 | -€2,205 | -0.5% |
| Land and buildings | 22 | €409,166 | €380,622 | -€28,544 | -7.0% |
| Plant, machinery and equipment | 23 | €4,200 | €2,100 | -€2,100 | -50.0% |
| Furniture and vehicles | 24 | €1,642 | €30,080 | +€28,439 | +1,732% |
| Financial fixed assets | 28 | €100,000 | €100,000 | = | 0.0% |
| Current assets | 29/58 | €119,084 | €78,565 | -€40,519 | -34.0% |
| Amounts receivable within one year | 40/41 | €46,128 | €44,842 | -€1,286 | -2.8% |
| Trade receivables | 40 | €6,316 | €7,305 | +€990 | +15.7% |
| Other amounts receivable | 41 | €39,812 | €37,536 | -€2,276 | -5.7% |
| Cash at bank and in hand | 54/58 | €71,369 | €31,867 | -€39,501 | -55.3% |
| Deferred charges and accrued income | 490/1 | €1,587 | €1,856 | +€269 | +16.9% |
| Total equity and liabilities | 10/49 | €634,091 | €591,367 | -€42,724 | -6.7% |
| Equity | 10/15 | €572,154 | €532,419 | -€39,735 | -6.9% |
| Contributions | 10/11 | €119,936 | €119,936 | = | 0.0% |
| Reserves | 13 | €647,178 | €636,328 | -€10,850 | -1.7% |
| Tax-exempt reserves | 132 | €10,850 | - | -€10,850 | |
| Distributable reserves | 133 | €636,328 | €636,328 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€194,960 | -€223,845 | -€28,885 | -14.8% |
| Provisions and deferred taxes | 16 | €3,617 | - | -€3,617 | |
| Deferred taxes | 168 | €3,617 | - | -€3,617 | |
| Amounts payable | 17/49 | €58,321 | €58,949 | +€628 | +1.1% |
| Amounts payable after more than one year | 17 | €35,588 | €22,348 | -€13,239 | -37.2% |
| Financial debts | 170/4 | €35,588 | €22,348 | -€13,239 | -37.2% |
| Amounts payable within one year | 42/48 | €22,690 | €36,557 | +€13,868 | +61.1% |
| Current portion of amounts payable after more than one year | 42 | €10,760 | €17,205 | +€6,444 | +59.9% |
| Trade debts | 44 | €4,658 | €5,729 | +€1,071 | +23.0% |
| Suppliers | 440/4 | €4,658 | €5,729 | +€1,071 | +23.0% |
| Taxes, remuneration and social security | 45 | €799 | €404 | -€395 | -49.4% |
| Taxes | 450/3 | €799 | €404 | -€395 | -49.4% |
| Other amounts payable | 47/48 | €6,473 | €13,220 | +€6,747 | +104% |
| Accrued charges and deferred income | 492/3 | €43 | €43 | -€0 | -1.0% |
| Non-recurring operating income | 76A | - | €4,697 | +€4,697 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,740 | €34,115 | -€2,625 | -7.1% |
| Other operating charges | 640/8 | €3,665 | €4,311 | +€647 | +17.6% |
| Gross operating margin | 9900 | -€8,103 | -€4,732 | +€3,371 | +41.6% |
| Operating profit (loss) | 9901 | -€48,507 | -€43,157 | +€5,349 | +11.0% |
| Financial income | 75/76B | €1,215 | €1,140 | -€74 | -6.1% |
| Recurring financial income | 75 | €1,215 | €1,140 | -€74 | -6.1% |
| Financial charges | 65/66B | €839 | €1,031 | +€192 | +22.9% |
| Recurring financial charges | 65 | €839 | €1,031 | +€192 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | -€48,131 | -€43,048 | +€5,083 | +10.6% |
| Transfer from deferred taxes | 780 | €12,057 | €3,617 | -€8,440 | -70.0% |
| Income taxes | 67/77 | €254 | €304 | +€50 | +19.5% |
| Profit (loss) for the period | 9904 | -€36,328 | -€39,735 | -€3,407 | -9.4% |
| Transfer from tax-exempt reserves | 789 | €36,171 | €10,850 | -€25,321 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€157 | -€28,885 | -€28,728 | -18,248% |
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 23 October 2026 via checked.be.