RIGHT WAY: 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.
RIGHT WAY
Largest movements
- Cash -€63,113
down €63,113 (-73.4%), from €85,963 to €22,851
mainly Other debts (-€55,570) and Contributions, distributions and other (-€41,000)
- Receivables within one year +€7,764
up €7,764 (+19.4%), from €40,028 to €47,792
of which Trade receivables: +€7,764
- Tangible fixed assets -€7,415
down €7,415 (-32.4%), from €22,910 to €15,495
of which Other tangible fixed assets: -€5,356
- Other debts -€55,570
down €55,570 (-52.3%), from €106,278 to €50,708
- Tax, wage and social debts -€3,578
down €3,578 (-19.9%), from €18,009 to €14,430
- Profit (loss) carried forward -€2,989
down €2,989 (-83.2%), from €3,592 to €603
- Gross operating margin -€21,097
down €21,097 (-27.1%), from €77,855 to €56,758
- Taxes -€4,597
down €4,597 (-30.6%), from €15,019 to €10,422
- Depreciation +€2,022
up €2,022 (+37.5%), from €5,393 to €7,415
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 | €149,007 | €87,056 | -€61,951 | -41.6% |
| Fixed assets | 21/28 | €22,910 | €15,495 | -€7,415 | -32.4% |
| Tangible fixed assets | 22/27 | €22,910 | €15,495 | -€7,415 | -32.4% |
| Furniture and vehicles | 24 | €3,836 | €1,777 | -€2,059 | -53.7% |
| Other tangible fixed assets | 26 | €19,074 | €13,718 | -€5,356 | -28.1% |
| Current assets | 29/58 | €126,098 | €71,561 | -€54,536 | -43.2% |
| Amounts receivable within one year | 40/41 | €40,028 | €47,792 | +€7,764 | +19.4% |
| Trade receivables | 40 | €39,047 | €46,811 | +€7,764 | +19.9% |
| Other amounts receivable | 41 | €981 | €981 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,963 | €22,851 | -€63,113 | -73.4% |
| Deferred charges and accrued income | 490/1 | €106 | €918 | +€812 | +765.9% |
| Total equity and liabilities | 10/49 | €149,007 | €87,056 | -€61,951 | -41.6% |
| Equity | 10/15 | €24,392 | €21,403 | -€2,989 | -12.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,200 | €2,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €700 | €700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €700 | €700 | = | 0.0% |
| Distributable reserves | 133 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,592 | €603 | -€2,989 | -83.2% |
| Amounts payable | 17/49 | €124,615 | €65,653 | -€58,962 | -47.3% |
| Amounts payable within one year | 42/48 | €124,615 | €65,653 | -€58,962 | -47.3% |
| Trade debts | 44 | €329 | €515 | +€186 | +56.6% |
| Suppliers | 440/4 | €329 | €515 | +€186 | +56.6% |
| Taxes, remuneration and social security | 45 | €18,009 | €14,430 | -€3,578 | -19.9% |
| Taxes | 450/3 | €18,009 | €14,430 | -€3,578 | -19.9% |
| Other amounts payable | 47/48 | €106,278 | €50,708 | -€55,570 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,393 | €7,415 | +€2,022 | +37.5% |
| Other operating charges | 640/8 | €567 | €657 | +€90 | +15.9% |
| Gross operating margin | 9900 | €77,855 | €56,758 | -€21,097 | -27.1% |
| Operating profit (loss) | 9901 | €71,896 | €48,686 | -€23,210 | -32.3% |
| Financial charges | 65/66B | €177 | €253 | +€76 | +42.8% |
| Recurring financial charges | 65 | €177 | €253 | +€76 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €71,719 | €48,433 | -€23,286 | -32.5% |
| Income taxes | 67/77 | €15,019 | €10,422 | -€4,597 | -30.6% |
| Profit (loss) for the period | 9904 | €56,700 | €38,011 | -€18,689 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,700 | €38,011 | -€18,689 | -33.0% |
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 7 October 2026 via checked.be.