Reflections in Blue: 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.
Reflections in Blue
Largest movements
- Cash -€8,536
down €8,536 (-54.1%), from €15,782 to €7,246
mainly Tax, wage and social debts (-€4,195) and Net result for the year (-€3,624)
- Receivables within one year +€2,560
up €2,560 (+74.1%), from €3,456 to €6,016
of which Other amounts receivable: +€2,560
- Tangible fixed assets -€2,169
down €2,169 (-17.3%), from €12,536 to €10,367
- Tax, wage and social debts -€4,195
down €4,195 (-60.4%), from €6,946 to €2,751
- Reserves -€3,624
down €3,624 (-21.7%), from €16,685 to €13,062
- Trade debts -€1,207
down €1,207 (-25.7%), from €4,693 to €3,487
- Short-term financial debts +€880
up €880, from €0 to €880
- Gross operating margin -€9,273
down €9,273 (-94.8%), from €9,778 to €505
- Taxes -€2,751
down €2,751 (-100%), from €2,751 to €0
- Other operating charges +€1,914
new in 2025: €1,914
- Depreciation +€941
up €941 (+76.6%), from €1,228 to €2,169
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 | €31,774 | €23,629 | -€8,145 | -25.6% |
| Fixed assets | 21/28 | €12,536 | €10,367 | -€2,169 | -17.3% |
| Tangible fixed assets | 22/27 | €12,536 | €10,367 | -€2,169 | -17.3% |
| Land and buildings | 22 | €6,931 | €6,151 | -€780 | -11.3% |
| Plant, machinery and equipment | 23 | €1,632 | €1,073 | -€559 | -34.3% |
| Furniture and vehicles | 24 | €3,974 | €3,144 | -€830 | -20.9% |
| Current assets | 29/58 | €19,238 | €13,262 | -€5,976 | -31.1% |
| Amounts receivable within one year | 40/41 | €3,456 | €6,016 | +€2,560 | +74.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,456 | €6,016 | +€2,560 | +74.1% |
| Cash at bank and in hand | 54/58 | €15,782 | €7,246 | -€8,536 | -54.1% |
| Total equity and liabilities | 10/49 | €31,774 | €23,629 | -€8,145 | -25.6% |
| Equity | 10/15 | €20,135 | €16,512 | -€3,624 | -18.0% |
| Contributions | 10/11 | €3,450 | €3,450 | = | 0.0% |
| Reserves | 13 | €16,685 | €13,062 | -€3,624 | -21.7% |
| Distributable reserves | 133 | €16,685 | €13,062 | -€3,624 | -21.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €11,639 | €7,117 | -€4,522 | -38.8% |
| Amounts payable within one year | 42/48 | €11,639 | €7,117 | -€4,522 | -38.8% |
| Financial debts | 43 | €0 | €880 | +€880 | |
| Credit institutions | 430/8 | €0 | €880 | +€880 | |
| Trade debts | 44 | €4,693 | €3,487 | -€1,207 | -25.7% |
| Suppliers | 440/4 | €4,693 | €3,487 | -€1,207 | -25.7% |
| Taxes, remuneration and social security | 45 | €6,946 | €2,751 | -€4,195 | -60.4% |
| Taxes | 450/3 | €6,946 | €2,751 | -€4,195 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,228 | €2,169 | +€941 | +76.6% |
| Other operating charges | 640/8 | - | €1,914 | +€1,914 | |
| Gross operating margin | 9900 | €9,778 | €505 | -€9,273 | -94.8% |
| Operating profit (loss) | 9901 | €8,550 | -€3,578 | -€12,128 | |
| Financial income | 75/76B | €184 | €237 | +€53 | +28.9% |
| Recurring financial income | 75 | €184 | €237 | +€53 | +28.9% |
| Financial charges | 65/66B | €280 | €283 | +€3 | +1.1% |
| Recurring financial charges | 65 | €280 | €283 | +€3 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €8,454 | -€3,624 | -€12,078 | |
| Income taxes | 67/77 | €2,751 | €0 | -€2,751 | -100% |
| Profit (loss) for the period | 9904 | €5,704 | -€3,624 | -€9,327 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,704 | -€3,624 | -€9,327 |
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 24 October 2026 via checked.be.