REFLECTION ART: 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.
REFLECTION ART
Largest movements
- Tangible fixed assets +€17,904
up €17,904 (+1258.2%), from €1,423 to €19,327
- Cash -€6,944
down €6,944 (-77.4%), from €8,969 to €2,025
mainly Investment in fixed assets (net) (-€21,875) and Net result for the year (-€19,325)
- Deferred charges and accrued income +€504
up €504 (+45.2%), from €1,116 to €1,620
- Receivables within one year -€300
down €300 (-23.4%), from €1,286 to €986
of which Other amounts receivable: -€517
- Other debts +€31,432
up €31,432 (+1617.2%), from €1,944 to €33,375
- Profit (loss) carried forward -€19,325
down €19,325 (-11.7%), from -€164,674 to -€183,999
- Accrued charges and deferred income -€1,306
down €1,306 (-100.0%), from €1,306 to €0
- Reserves -€833
down €833 (-0.5%), from €167,450 to €166,617
of which Distributable reserves: -€833
- Trade debts +€626
up €626 (+1059.1%), from €59 to €685
- Gross operating margin +€38,884
up €38,884 (+77.3%), from -€50,298 to -€11,414
- Financial income -€7,363
down €7,363 (-99.9%), from €7,369 to €6
- Depreciation +€2,860
up €2,860 (+257.6%), from €1,110 to €3,970
- Financial charges +€1,190
up €1,190 (+109.8%), from €1,084 to €2,274
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 | €12,793 | €23,957 | +€11,164 | +87.3% |
| Fixed assets | 21/28 | €1,423 | €19,327 | +€17,904 | +1258.2% |
| Tangible fixed assets | 22/27 | €1,423 | €19,327 | +€17,904 | +1258.2% |
| Furniture and vehicles | 24 | €1,423 | €19,327 | +€17,904 | +1258.2% |
| Current assets | 29/58 | €11,370 | €4,630 | -€6,740 | -59.3% |
| Amounts receivable within one year | 40/41 | €1,286 | €986 | -€300 | -23.4% |
| Trade receivables | 40 | €426 | €642 | +€217 | +50.9% |
| Other amounts receivable | 41 | €860 | €343 | -€517 | -60.1% |
| Cash at bank and in hand | 54/58 | €8,969 | €2,025 | -€6,944 | -77.4% |
| Deferred charges and accrued income | 490/1 | €1,116 | €1,620 | +€504 | +45.2% |
| Total equity and liabilities | 10/49 | €12,793 | €23,957 | +€11,164 | +87.3% |
| Equity | 10/15 | €8,973 | -€11,185 | -€20,158 | |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €167,450 | €166,617 | -€833 | -0.5% |
| Tax-exempt reserves | 132 | €205 | €205 | = | 0.0% |
| Distributable reserves | 133 | €167,245 | €166,412 | -€833 | -0.5% |
| Profit (loss) carried forward | 14 | -€164,674 | -€183,999 | -€19,325 | -11.7% |
| Amounts payable | 17/49 | €3,820 | €35,142 | +€31,322 | +819.9% |
| Amounts payable within one year | 42/48 | €2,514 | €35,142 | +€32,628 | +1297.6% |
| Trade debts | 44 | €59 | €685 | +€626 | +1059.1% |
| Suppliers | 440/4 | €59 | €685 | +€626 | +1059.1% |
| Taxes, remuneration and social security | 45 | €512 | €1,081 | +€569 | +111.3% |
| Taxes | 450/3 | €512 | €1,081 | +€569 | +111.3% |
| Other amounts payable | 47/48 | €1,944 | €33,375 | +€31,432 | +1617.2% |
| Accrued charges and deferred income | 492/3 | €1,306 | €0 | -€1,306 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,110 | €3,970 | +€2,860 | +257.6% |
| Other operating charges | 640/8 | €1,144 | €1,426 | +€282 | +24.6% |
| Gross operating margin | 9900 | -€50,298 | -€11,414 | +€38,884 | +77.3% |
| Operating profit (loss) | 9901 | -€52,553 | -€16,810 | +€35,742 | +68.0% |
| Financial income | 75/76B | €7,369 | €6 | -€7,363 | -99.9% |
| Recurring financial income | 75 | €7,369 | €6 | -€7,363 | -99.9% |
| Financial charges | 65/66B | €1,084 | €2,274 | +€1,190 | +109.8% |
| Recurring financial charges | 65 | €1,084 | €2,274 | +€1,190 | +109.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,267 | -€19,078 | +€27,189 | +58.8% |
| Income taxes | 67/77 | €268 | €246 | -€22 | -8.2% |
| Profit (loss) for the period | 9904 | -€46,536 | -€19,325 | +€27,211 | +58.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,536 | -€19,325 | +€27,211 | +58.5% |
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 1 October 2026 via checked.be.