ROUND THE BEND: 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.
ROUND THE BEND
Largest movements
- Cash -€19,300
down €19,300 (-46.0%), from €41,995 to €22,695
mainly Other debts (-€9,634) and Investment in fixed assets (net) (-€6,714)
- Tangible fixed assets +€5,152
up €5,152 (+166%), from €3,100 to €8,251
of which Furniture and vehicles: +€6,199
- Receivables within one year -€4,324
down €4,324 (-86.3%), from €5,008 to €684
of which Other amounts receivable: -€3,114
- Deferred charges and accrued income -€1,413
down €1,413 (-58.1%), from €2,431 to €1,019
- Other debts -€9,634
down €9,634 (-60.8%), from €15,854 to €6,219
- Reserves -€6,229
down €6,229 (-43.4%), from €14,368 to €8,139
- Tax, wage and social debts -€2,250
no longer reported in 2025 (was €2,250)
- Trade debts -€1,772
down €1,772 (-90.3%), from €1,963 to €191
- Gross operating margin -€26,643
down €26,643, from €22,799 to -€3,845
- Taxes -€2,424
down €2,424 (-87.9%), from €2,757 to €333
- Depreciation -€1,596
down €1,596 (-50.5%), from €3,158 to €1,562
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 | €53,034 | €33,149 | -€19,885 | -37.5% |
| Fixed assets | 21/28 | €3,600 | €8,751 | +€5,152 | +143% |
| Tangible fixed assets | 22/27 | €3,100 | €8,251 | +€5,152 | +166% |
| Plant, machinery and equipment | 23 | €3,100 | €2,053 | -€1,047 | -33.8% |
| Furniture and vehicles | 24 | - | €6,199 | +€6,199 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €49,435 | €24,398 | -€25,037 | -50.6% |
| Amounts receivable within one year | 40/41 | €5,008 | €684 | -€4,324 | -86.3% |
| Trade receivables | 40 | €1,210 | - | -€1,210 | |
| Other amounts receivable | 41 | €3,798 | €684 | -€3,114 | -82.0% |
| Cash at bank and in hand | 54/58 | €41,995 | €22,695 | -€19,300 | -46.0% |
| Deferred charges and accrued income | 490/1 | €2,431 | €1,019 | -€1,413 | -58.1% |
| Total equity and liabilities | 10/49 | €53,034 | €33,149 | -€19,885 | -37.5% |
| Equity | 10/15 | €32,968 | €26,739 | -€6,229 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,368 | €8,139 | -€6,229 | -43.4% |
| Distributable reserves | 133 | €14,368 | €8,139 | -€6,229 | -43.4% |
| Amounts payable | 17/49 | €20,067 | €6,410 | -€13,656 | -68.1% |
| Amounts payable within one year | 42/48 | €20,067 | €6,410 | -€13,656 | -68.1% |
| Trade debts | 44 | €1,963 | €191 | -€1,772 | -90.3% |
| Suppliers | 440/4 | €1,963 | €191 | -€1,772 | -90.3% |
| Taxes, remuneration and social security | 45 | €2,250 | - | -€2,250 | |
| Taxes | 450/3 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | €15,854 | €6,219 | -€9,634 | -60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,158 | €1,562 | -€1,596 | -50.5% |
| Other operating charges | 640/8 | €272 | €144 | -€128 | -47.0% |
| Gross operating margin | 9900 | €22,799 | -€3,845 | -€26,643 | |
| Operating profit (loss) | 9901 | €19,369 | -€5,551 | -€24,920 | |
| Financial charges | 65/66B | €553 | €345 | -€208 | -37.6% |
| Recurring financial charges | 65 | €553 | €345 | -€208 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €18,816 | -€5,897 | -€24,712 | |
| Income taxes | 67/77 | €2,757 | €333 | -€2,424 | -87.9% |
| Profit (loss) for the period | 9904 | €16,059 | -€6,229 | -€22,288 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,059 | -€6,229 | -€22,288 |
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.