Road 23: 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.
Road 23
Largest movements
- Tangible fixed assets -€2,351
down €2,351 (-39.7%), from €5,927 to €3,577
of which Other tangible fixed assets: -€2,273
- Stocks and contracts +€2,167
up €2,167 (+15.4%), from €14,067 to €16,234
- Cash -€1,878
down €1,878 (-68.6%), from €2,739 to €860
mainly Net result for the year (-€11,586) and Stocks and contracts (-€2,167)
- Receivables within one year -€1,150
down €1,150 (-60.6%), from €1,898 to €748
- Profit (loss) carried forward -€11,586
down €11,586 (-99.8%), from -€11,612 to -€23,198
- Tax, wage and social debts +€6,246
up €6,246 (+259.8%), from €2,404 to €8,650
of which Remuneration and social security: +€4,100
- Trade debts +€2,112
up €2,112 (+255.1%), from €828 to €2,940
- Gross operating margin -€10,529
down €10,529, from €2,606 to -€7,923
- Financial charges +€113
up €113 (+9.4%), from €1,200 to €1,313
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 | €38,435 | €35,223 | -€3,212 | -8.4% |
| Fixed assets | 21/28 | €19,731 | €17,380 | -€2,351 | -11.9% |
| Tangible fixed assets | 22/27 | €5,927 | €3,577 | -€2,351 | -39.7% |
| Plant, machinery and equipment | 23 | €77 | - | -€77 | |
| Other tangible fixed assets | 26 | €5,850 | €3,577 | -€2,273 | -38.9% |
| Financial fixed assets | 28 | €13,804 | €13,804 | = | 0.0% |
| Current assets | 29/58 | €18,704 | €17,843 | -€861 | -4.6% |
| Stocks and contracts in progress | 3 | €14,067 | €16,234 | +€2,167 | +15.4% |
| Stocks | 30/36 | €14,067 | €16,234 | +€2,167 | +15.4% |
| Amounts receivable within one year | 40/41 | €1,898 | €748 | -€1,150 | -60.6% |
| Trade receivables | 40 | €1,898 | €748 | -€1,150 | -60.6% |
| Cash at bank and in hand | 54/58 | €2,739 | €860 | -€1,878 | -68.6% |
| Total equity and liabilities | 10/49 | €38,435 | €35,223 | -€3,212 | -8.4% |
| Equity | 10/15 | -€3,552 | -€15,138 | -€11,586 | -326.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,612 | -€23,198 | -€11,586 | -99.8% |
| Amounts payable | 17/49 | €41,987 | €50,361 | +€8,374 | +19.9% |
| Amounts payable within one year | 42/48 | €41,987 | €50,361 | +€8,374 | +19.9% |
| Trade debts | 44 | €828 | €2,940 | +€2,112 | +255.1% |
| Suppliers | 440/4 | €828 | €2,940 | +€2,112 | +255.1% |
| Taxes, remuneration and social security | 45 | €2,404 | €8,650 | +€6,246 | +259.8% |
| Taxes | 450/3 | €2,404 | €4,550 | +€2,146 | +89.2% |
| Remuneration and social security | 454/9 | - | €4,100 | +€4,100 | |
| Other amounts payable | 47/48 | €38,755 | €38,771 | +€16 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,365 | €2,351 | -€14 | -0.6% |
| Gross operating margin | 9900 | €2,606 | -€7,923 | -€10,529 | |
| Operating profit (loss) | 9901 | €241 | -€10,273 | -€10,514 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +800.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +800.0% |
| Financial charges | 65/66B | €1,200 | €1,313 | +€113 | +9.4% |
| Recurring financial charges | 65 | €1,200 | €1,313 | +€113 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€959 | -€11,586 | -€10,627 | -1108.1% |
| Profit (loss) for the period | 9904 | -€959 | -€11,586 | -€10,627 | -1108.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€959 | -€11,586 | -€10,627 | -1108.1% |
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 9 October 2026 via checked.be.