S.01: 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.
S.01
Largest movements
- Tangible fixed assets -€10,571
down €10,571 (-74.0%), from €14,280 to €3,709
of which Plant, machinery and equipment: -€11,358
- Intangible fixed assets -€2,700
no longer reported in 2025 (was €2,700)
- Cash +€2,031
up €2,031 (+38.5%), from €5,272 to €7,303
mainly Investment in fixed assets (net) (+€13,628) and Net result for the year (+€11,557)
- Financial fixed assets -€1,700
no longer reported in 2025 (was €1,700)
- Receivables within one year +€1,145
up €1,145 (+28.9%), from €3,955 to €5,099
of which Trade receivables: +€1,151
- Profit (loss) carried forward +€11,557
up €11,557 (+27.6%), from -€41,931 to -€30,374
- Tax, wage and social debts -€10,451
down €10,451 (-88.8%), from €11,769 to €1,319
of which Remuneration and social security: -€7,993
- Other debts +€9,636
up €9,636 (+63.3%), from €15,211 to €24,847
- Debts after one year -€8,544
down €8,544 (-92.4%), from €9,244 to €700
of which Financial debts: -€8,544
- Current portion of long-term debt -€5,868
no longer reported in 2025 (was €5,868)
- Staff costs -€23,867
down €23,867 (-54.7%), from €43,593 to €19,727
- Other operating charges -€16,048
down €16,048 (-86.7%), from €18,508 to €2,460
- Gross operating margin +€7,291
up €7,291 (+28.8%), from €25,298 to €32,589
- Depreciation -€5,284
down €5,284 (-79.7%), from €6,627 to €1,343
- Financial charges -€2,077
down €2,077 (-63.8%), from €3,253 to €1,176
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 | €29,841 | €17,112 | -€12,729 | -42.7% |
| Fixed assets | 21/28 | €18,680 | €3,709 | -€14,971 | -80.1% |
| Intangible fixed assets | 21 | €2,700 | - | -€2,700 | |
| Tangible fixed assets | 22/27 | €14,280 | €3,709 | -€10,571 | -74.0% |
| Plant, machinery and equipment | 23 | €11,358 | - | -€11,358 | |
| Furniture and vehicles | 24 | €180 | €3,709 | +€3,529 | +1,961% |
| Other tangible fixed assets | 26 | €2,742 | - | -€2,742 | |
| Financial fixed assets | 28 | €1,700 | - | -€1,700 | |
| Current assets | 29/58 | €11,161 | €13,403 | +€2,242 | +20.1% |
| Stocks and contracts in progress | 3 | €1,062 | - | -€1,062 | |
| Stocks | 30/36 | €1,062 | - | -€1,062 | |
| Amounts receivable within one year | 40/41 | €3,955 | €5,099 | +€1,145 | +28.9% |
| Trade receivables | 40 | €3,948 | €5,099 | +€1,151 | +29.2% |
| Other amounts receivable | 41 | €7 | - | -€7 | |
| Cash at bank and in hand | 54/58 | €5,272 | €7,303 | +€2,031 | +38.5% |
| Deferred charges and accrued income | 490/1 | €873 | €1,001 | +€128 | +14.7% |
| Total equity and liabilities | 10/49 | €29,841 | €17,112 | -€12,729 | -42.7% |
| Equity | 10/15 | -€21,471 | -€9,914 | +€11,557 | +53.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,931 | -€30,374 | +€11,557 | +27.6% |
| Amounts payable | 17/49 | €51,312 | €27,026 | -€24,286 | -47.3% |
| Amounts payable after more than one year | 17 | €9,244 | €700 | -€8,544 | -92.4% |
| Financial debts | 170/4 | €8,544 | - | -€8,544 | |
| Other amounts payable | 178/9 | €700 | €700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €37,238 | €26,326 | -€10,912 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €5,868 | - | -€5,868 | |
| Financial debts | 43 | €1,187 | - | -€1,187 | |
| Credit institutions | 430/8 | €1,187 | - | -€1,187 | |
| Trade debts | 44 | €3,202 | €160 | -€3,042 | -95.0% |
| Suppliers | 440/4 | €3,202 | €160 | -€3,042 | -95.0% |
| Taxes, remuneration and social security | 45 | €11,769 | €1,319 | -€10,451 | -88.8% |
| Taxes | 450/3 | €3,776 | €1,319 | -€2,458 | -65.1% |
| Remuneration and social security | 454/9 | €7,993 | - | -€7,993 | |
| Other amounts payable | 47/48 | €15,211 | €24,847 | +€9,636 | +63.3% |
| Accrued charges and deferred income | 492/3 | €4,830 | - | -€4,830 | |
| Non-recurring operating income | 76A | €4,270 | - | -€4,270 | |
| Remuneration, social security and pensions | 62 | €43,593 | €19,727 | -€23,867 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,627 | €1,343 | -€5,284 | -79.7% |
| Other operating charges | 640/8 | €18,508 | €2,460 | -€16,048 | -86.7% |
| Operating charges capitalised as restructuring costs | 649 | - | -€3,600 | -€3,600 | |
| Gross operating margin | 9900 | €25,298 | €32,589 | +€7,291 | +28.8% |
| Operating profit (loss) | 9901 | -€43,431 | €12,659 | +€56,090 | |
| Financial income | 75/76B | - | €74 | +€74 | |
| Recurring financial income | 75 | - | €74 | +€74 | |
| Financial charges | 65/66B | €3,253 | €1,176 | -€2,077 | -63.8% |
| Recurring financial charges | 65 | €3,253 | €1,176 | -€2,077 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | -€46,684 | €11,557 | +€58,240 | |
| Income taxes | 67/77 | €47 | - | -€47 | |
| Profit (loss) for the period | 9904 | -€46,731 | €11,557 | +€58,288 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,731 | €11,557 | +€58,288 |
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 20 October 2026 via checked.be.