RISK MANAGER: 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.
RISK MANAGER
Largest movements
- Cash -€40,229
down €40,229 (-48.7%), from €82,619 to €42,390
mainly Other debts (-€23,252) and Receivables within one year (-€15,417)
- Receivables within one year +€15,417
up €15,417 (+111%), from €13,867 to €29,284
of which Other amounts receivable: +€23,919
- Tangible fixed assets -€12,709
down €12,709 (-20.7%), from €61,479 to €48,770
of which Furniture and vehicles: -€11,984
- Other debts -€23,252
down €23,252 (-82.4%), from €28,211 to €4,959
- Tax, wage and social debts -€6,994
no longer reported in 2025 (was €6,994)
of which Taxes: -€3,945
- Profit (loss) carried forward -€6,592
down €6,592 (-7.9%), from €83,104 to €76,513
- Gross operating margin -€60,116
down €60,116 (-82.8%), from €72,609 to €12,493
- Taxes -€14,541
down €14,541 (-98.5%), from €14,759 to €218
- Depreciation +€2,772
up €2,772 (+18.6%), from €14,924 to €17,697
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 | €158,872 | €122,606 | -€36,266 | -22.8% |
| Fixed assets | 21/28 | €61,479 | €48,770 | -€12,709 | -20.7% |
| Tangible fixed assets | 22/27 | €61,479 | €48,770 | -€12,709 | -20.7% |
| Plant, machinery and equipment | 23 | €3,337 | €2,612 | -€725 | -21.7% |
| Furniture and vehicles | 24 | €58,142 | €46,158 | -€11,984 | -20.6% |
| Current assets | 29/58 | €97,393 | €73,837 | -€23,557 | -24.2% |
| Amounts receivable within one year | 40/41 | €13,867 | €29,284 | +€15,417 | +111% |
| Trade receivables | 40 | €13,113 | €4,612 | -€8,502 | -64.8% |
| Other amounts receivable | 41 | €753 | €24,672 | +€23,919 | +3,174% |
| Cash at bank and in hand | 54/58 | €82,619 | €42,390 | -€40,229 | -48.7% |
| Deferred charges and accrued income | 490/1 | €908 | €2,163 | +€1,255 | +138% |
| Total equity and liabilities | 10/49 | €158,872 | €122,606 | -€36,266 | -22.8% |
| Equity | 10/15 | €122,909 | €116,317 | -€6,592 | -5.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,805 | €34,805 | = | 0.0% |
| Distributable reserves | 133 | €34,805 | €34,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,104 | €76,513 | -€6,592 | -7.9% |
| Amounts payable | 17/49 | €35,963 | €6,289 | -€29,674 | -82.5% |
| Amounts payable within one year | 42/48 | €35,963 | €6,289 | -€29,674 | -82.5% |
| Trade debts | 44 | €758 | €1,330 | +€572 | +75.4% |
| Suppliers | 440/4 | €758 | €1,330 | +€572 | +75.4% |
| Taxes, remuneration and social security | 45 | €6,994 | - | -€6,994 | |
| Taxes | 450/3 | €3,945 | - | -€3,945 | |
| Remuneration and social security | 454/9 | €3,049 | - | -€3,049 | |
| Other amounts payable | 47/48 | €28,211 | €4,959 | -€23,252 | -82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,924 | €17,697 | +€2,772 | +18.6% |
| Other operating charges | 640/8 | €495 | €571 | +€76 | +15.3% |
| Gross operating margin | 9900 | €72,609 | €12,493 | -€60,116 | -82.8% |
| Operating profit (loss) | 9901 | €57,189 | -€5,775 | -€62,964 | |
| Financial income | 75/76B | €5 | €1 | -€4 | -77.6% |
| Recurring financial income | 75 | €5 | €1 | -€4 | -77.6% |
| Financial charges | 65/66B | €663 | €600 | -€63 | -9.5% |
| Recurring financial charges | 65 | €663 | €600 | -€63 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €56,531 | -€6,374 | -€62,905 | |
| Income taxes | 67/77 | €14,759 | €218 | -€14,541 | -98.5% |
| Profit (loss) for the period | 9904 | €41,772 | -€6,592 | -€48,364 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,772 | -€6,592 | -€48,364 |
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 16 October 2026 via checked.be.