RISING TIDE: 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.
RISING TIDE
Largest movements
- Tangible fixed assets -€80,676
down €80,676 (-20.0%), from €403,213 to €322,537
- Receivables after one year +€38,000
new in 2025: €38,000
- Cash -€15,422
down €15,422 (-65.4%), from €23,574 to €8,152
mainly Short-term financial debts (-€250,000) and Receivables after one year (-€38,000)
- Contributions +€250,000
up €250,000 (+98.4%), from €254,000 to €504,000
- Short-term financial debts -€250,000
no longer reported in 2025 (was €250,000)
- Profit (loss) carried forward -€31,374
down €31,374 (-33.5%), from -€93,609 to -€124,983
- Other debts -€26,000
no longer reported in 2025 (was €26,000)
- Gross operating margin -€3,996
down €3,996 (-7.4%), from €54,275 to €50,280
- Other operating charges +€777
up €777 (+3884.4%), from €20 to €797
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 | €436,391 | €379,017 | -€57,374 | -13.1% |
| Fixed assets | 21/28 | €403,213 | €322,537 | -€80,676 | -20.0% |
| Tangible fixed assets | 22/27 | €403,213 | €322,537 | -€80,676 | -20.0% |
| Plant, machinery and equipment | 23 | €403,213 | €322,537 | -€80,676 | -20.0% |
| Current assets | 29/58 | €33,178 | €56,481 | +€23,303 | +70.2% |
| Amounts receivable after more than one year | 29 | - | €38,000 | +€38,000 | |
| Other amounts receivable | 291 | - | €38,000 | +€38,000 | |
| Amounts receivable within one year | 40/41 | €9,521 | €10,329 | +€807 | +8.5% |
| Trade receivables | 40 | €8,468 | €8,468 | = | 0.0% |
| Other amounts receivable | 41 | €1,053 | €1,860 | +€807 | +76.7% |
| Cash at bank and in hand | 54/58 | €23,574 | €8,152 | -€15,422 | -65.4% |
| Deferred charges and accrued income | 490/1 | €83 | - | -€83 | |
| Total equity and liabilities | 10/49 | €436,391 | €379,017 | -€57,374 | -13.1% |
| Equity | 10/15 | €160,391 | €379,017 | +€218,626 | +136.3% |
| Contributions | 10/11 | €254,000 | €504,000 | +€250,000 | +98.4% |
| Profit (loss) carried forward | 14 | -€93,609 | -€124,983 | -€31,374 | -33.5% |
| Amounts payable | 17/49 | €276,000 | - | -€276,000 | |
| Amounts payable within one year | 42/48 | €276,000 | - | -€276,000 | |
| Financial debts | 43 | €250,000 | - | -€250,000 | |
| Credit institutions | 430/8 | €250,000 | - | -€250,000 | |
| Other amounts payable | 47/48 | €26,000 | - | -€26,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,676 | €80,676 | = | 0.0% |
| Other operating charges | 640/8 | €20 | €797 | +€777 | +3884.4% |
| Gross operating margin | 9900 | €54,275 | €50,280 | -€3,996 | -7.4% |
| Operating profit (loss) | 9901 | -€26,421 | -€31,194 | -€4,772 | -18.1% |
| Financial charges | 65/66B | €615 | €180 | -€435 | -70.8% |
| Recurring financial charges | 65 | €615 | €180 | -€435 | -70.8% |
| Profit (loss) for the period before taxes | 9903 | -€27,037 | -€31,374 | -€4,337 | -16.0% |
| Profit (loss) for the period | 9904 | -€27,037 | -€31,374 | -€4,337 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,037 | -€31,374 | -€4,337 | -16.0% |
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 12 October 2026 via checked.be.