RESEARCH: 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.
RESEARCH
Largest movements
- Tangible fixed assets -€128,629
down €128,629 (-53.8%), from €239,004 to €110,375
of which Land and buildings: -€103,650
- Cash -€70,624
down €70,624 (-65.4%), from €108,067 to €37,444
mainly Other debts (-€166,075) and Net result for the year (-€45,017)
- Receivables within one year -€4,955
down €4,955 (-62.6%), from €7,910 to €2,955
of which Other amounts receivable: -€2,865
- Other debts -€166,075
down €166,075 (-54.6%), from €304,168 to €138,093
- Profit (loss) carried forward -€45,017
down €45,017 (-83.1%), from €54,179 to €9,162
- Trade debts +€7,840
up €7,840 (+1,687%), from €465 to €8,305
- Gross operating margin +€33,571
up €33,571, from -€21,315 to €12,256
- Financial income -€4,400
down €4,400 (-99.8%), from €4,407 to €7
- Depreciation -€3,786
down €3,786 (-8.2%), from €45,981 to €42,195
- Other operating charges -€1,987
down €1,987 (-12.2%), from €16,278 to €14,291
- Financial charges -€1,217
down €1,217 (-79.2%), from €1,538 to €320
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €389,981 | €185,773 | -€204,208 | -52.4% |
| Fixed assets | 21/28 | €239,004 | €110,375 | -€128,629 | -53.8% |
| Tangible fixed assets | 22/27 | €239,004 | €110,375 | -€128,629 | -53.8% |
| Land and buildings | 22 | €103,650 | €0 | -€103,650 | -100% |
| Plant, machinery and equipment | 23 | €90,586 | €85,300 | -€5,286 | -5.8% |
| Furniture and vehicles | 24 | €44,768 | €25,074 | -€19,694 | -44.0% |
| Current assets | 29/58 | €150,977 | €75,399 | -€75,579 | -50.1% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €7,910 | €2,955 | -€4,955 | -62.6% |
| Trade receivables | 40 | €4,389 | €2,299 | -€2,090 | -47.6% |
| Other amounts receivable | 41 | €3,521 | €656 | -€2,865 | -81.4% |
| Cash at bank and in hand | 54/58 | €108,067 | €37,444 | -€70,624 | -65.4% |
| Total equity and liabilities | 10/49 | €389,981 | €185,773 | -€204,208 | -52.4% |
| Equity | 10/15 | €82,762 | €37,745 | -€45,017 | -54.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,983 | €9,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €683 | €683 | = | 0.0% |
| Distributable reserves | 133 | €9,300 | €9,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,179 | €9,162 | -€45,017 | -83.1% |
| Amounts payable | 17/49 | €307,219 | €148,028 | -€159,191 | -51.8% |
| Amounts payable within one year | 42/48 | €305,785 | €148,028 | -€157,757 | -51.6% |
| Trade debts | 44 | €465 | €8,305 | +€7,840 | +1,687% |
| Suppliers | 440/4 | €465 | €8,305 | +€7,840 | +1,687% |
| Taxes, remuneration and social security | 45 | €1,153 | €1,631 | +€478 | +41.5% |
| Taxes | 450/3 | €1,153 | €1,631 | +€478 | +41.5% |
| Other amounts payable | 47/48 | €304,168 | €138,093 | -€166,075 | -54.6% |
| Accrued charges and deferred income | 492/3 | €1,435 | - | -€1,435 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,981 | €42,195 | -€3,786 | -8.2% |
| Other operating charges | 640/8 | €16,278 | €14,291 | -€1,987 | -12.2% |
| Gross operating margin | 9900 | -€21,315 | €12,256 | +€33,571 | |
| Operating profit (loss) | 9901 | -€83,574 | -€44,229 | +€39,344 | +47.1% |
| Financial income | 75/76B | €4,407 | €7 | -€4,400 | -99.8% |
| Recurring financial income | 75 | €4,407 | €7 | -€4,400 | -99.8% |
| Financial charges | 65/66B | €1,538 | €320 | -€1,217 | -79.2% |
| Recurring financial charges | 65 | €1,538 | €320 | -€1,217 | -79.2% |
| Profit (loss) for the period before taxes | 9903 | -€80,705 | -€44,543 | +€36,162 | +44.8% |
| Income taxes | 67/77 | €379 | €474 | +€96 | +25.2% |
| Profit (loss) for the period | 9904 | -€81,083 | -€45,017 | +€36,066 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,083 | -€45,017 | +€36,066 | +44.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.