REGARDS PASSION: 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.
REGARDS PASSION
Largest movements
- Cash +€11,707
up €11,707 (+865.0%), from €1,353 to €13,061
mainly Depreciation (+€19,852) and Net result for the year (+€15,405)
- Intangible fixed assets +€8,100
new in 2025: €8,100
- Tangible fixed assets +€1,949
up €1,949 (+4.0%), from €49,322 to €51,271
of which Furniture and vehicles: +€2,364
- Trade debts -€16,313
down €16,313 (-71.9%), from €22,683 to €6,370
- Profit (loss) carried forward +€15,405
up €15,405 (+7.6%), from -€203,933 to -€188,528
- Other debts +€13,916
up €13,916 (+5.0%), from €276,180 to €290,097
- Tax, wage and social debts +€3,559
up €3,559 (+77.8%), from €4,576 to €8,135
of which Taxes: +€3,533
- Advances received +€3,000
new in 2025: €3,000
- Gross operating margin +€84,773
up €84,773, from -€32,233 to €52,540
- Depreciation +€3,000
up €3,000 (+17.8%), from €16,852 to €19,852
- Staff costs +€2,249
up €2,249 (+18.3%), from €12,311 to €14,560
- Other operating charges +€1,271
up €1,271 (+190.6%), from €667 to €1,937
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 | €124,506 | €146,734 | +€22,228 | +17.9% |
| Fixed assets | 21/28 | €49,422 | €59,471 | +€10,049 | +20.3% |
| Intangible fixed assets | 21 | - | €8,100 | +€8,100 | |
| Tangible fixed assets | 22/27 | €49,322 | €51,271 | +€1,949 | +4.0% |
| Plant, machinery and equipment | 23 | €33,107 | €34,312 | +€1,205 | +3.6% |
| Furniture and vehicles | 24 | €1,099 | €3,463 | +€2,364 | +215.2% |
| Other tangible fixed assets | 26 | €15,116 | €13,496 | -€1,620 | -10.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €75,085 | €87,263 | +€12,179 | +16.2% |
| Stocks and contracts in progress | 3 | €53,080 | €53,080 | = | 0.0% |
| Stocks | 30/36 | €53,080 | €53,080 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,571 | €20,776 | +€205 | +1.0% |
| Trade receivables | 40 | €18,652 | €14,660 | -€3,992 | -21.4% |
| Other amounts receivable | 41 | €1,920 | €6,116 | +€4,196 | +218.6% |
| Cash at bank and in hand | 54/58 | €1,353 | €13,061 | +€11,707 | +865.0% |
| Deferred charges and accrued income | 490/1 | €80 | €346 | +€266 | +333.5% |
| Total equity and liabilities | 10/49 | €124,506 | €146,734 | +€22,228 | +17.9% |
| Equity | 10/15 | -€178,933 | -€163,528 | +€15,405 | +8.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,933 | -€188,528 | +€15,405 | +7.6% |
| Amounts payable | 17/49 | €303,439 | €310,263 | +€6,823 | +2.2% |
| Amounts payable after more than one year | 17 | - | €387 | +€387 | |
| Financial debts | 170/4 | - | €387 | +€387 | |
| Amounts payable within one year | 42/48 | €303,439 | €309,875 | +€6,436 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | - | €2,274 | +€2,274 | |
| Trade debts | 44 | €22,683 | €6,370 | -€16,313 | -71.9% |
| Suppliers | 440/4 | €22,683 | €6,370 | -€16,313 | -71.9% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €4,576 | €8,135 | +€3,559 | +77.8% |
| Taxes | 450/3 | €1,973 | €5,505 | +€3,533 | +179.1% |
| Remuneration and social security | 454/9 | €2,603 | €2,630 | +€26 | +1.0% |
| Other amounts payable | 47/48 | €276,180 | €290,097 | +€13,916 | +5.0% |
| Remuneration, social security and pensions | 62 | €12,311 | €14,560 | +€2,249 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,852 | €19,852 | +€3,000 | +17.8% |
| Other operating charges | 640/8 | €667 | €1,937 | +€1,271 | +190.6% |
| Gross operating margin | 9900 | -€32,233 | €52,540 | +€84,773 | |
| Operating profit (loss) | 9901 | -€62,063 | €16,191 | +€78,253 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €417 | €787 | +€370 | +88.8% |
| Recurring financial charges | 65 | €417 | €787 | +€370 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | -€62,479 | €15,405 | +€77,884 | |
| Profit (loss) for the period | 9904 | -€62,479 | €15,405 | +€77,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,479 | €15,405 | +€77,884 |
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 6 October 2026 via checked.be.