S103: 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.
S103
Largest movements
- Receivables within one year +€36,224
up €36,224 (+381%), from €9,511 to €45,735
of which Trade receivables: +€40,321
- Cash -€35,497
down €35,497 (-65.1%), from €54,568 to €19,071
mainly Receivables within one year (-€36,224) and Current portion of long-term debt (-€5,128)
- Tangible fixed assets -€9,589
down €9,589 (-72.7%), from €13,195 to €3,606
of which Leasing and similar rights: -€8,855
- Current portion of long-term debt -€5,128
down €5,128 (-74.8%), from €6,855 to €1,727
- Debts after one year -€1,727
down €1,727 (-49.4%), from €3,498 to €1,771
- Tax, wage and social debts -€1,392
down €1,392 (-35.2%), from €3,951 to €2,559
- Gross operating margin -€4,776
down €4,776 (-29.8%), from €16,022 to €11,246
- Depreciation -€1,828
down €1,828 (-16.0%), from €11,417 to €9,589
- Taxes -€310
down €310 (-32.5%), from €953 to €643
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 | €82,532 | €73,680 | -€8,852 | -10.7% |
| Fixed assets | 21/28 | €13,195 | €3,606 | -€9,589 | -72.7% |
| Tangible fixed assets | 22/27 | €13,195 | €3,606 | -€9,589 | -72.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,720 | €986 | -€734 | -42.7% |
| Leasing and similar rights | 25 | €11,476 | €2,620 | -€8,855 | -77.2% |
| Current assets | 29/58 | €69,336 | €70,073 | +€737 | +1.1% |
| Amounts receivable within one year | 40/41 | €9,511 | €45,735 | +€36,224 | +381% |
| Trade receivables | 40 | €1,557 | €41,878 | +€40,321 | +2,589% |
| Other amounts receivable | 41 | €7,954 | €3,857 | -€4,097 | -51.5% |
| Current investments | 50/53 | €4,861 | €4,861 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €54,568 | €19,071 | -€35,497 | -65.1% |
| Deferred charges and accrued income | 490/1 | €396 | €406 | +€11 | +2.7% |
| Total equity and liabilities | 10/49 | €82,532 | €73,680 | -€8,852 | -10.7% |
| Equity | 10/15 | €65,967 | €65,176 | -€791 | -1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €59,767 | €59,767 | = | 0.0% |
| Distributable reserves | 133 | €59,767 | €59,767 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€791 | -€791 | |
| Amounts payable | 17/49 | €16,565 | €8,504 | -€8,061 | -48.7% |
| Amounts payable after more than one year | 17 | €3,498 | €1,771 | -€1,727 | -49.4% |
| Financial debts | 170/4 | €3,498 | €1,771 | -€1,727 | -49.4% |
| Amounts payable within one year | 42/48 | €13,067 | €6,733 | -€6,335 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €6,855 | €1,727 | -€5,128 | -74.8% |
| Trade debts | 44 | €815 | €1,000 | +€185 | +22.7% |
| Suppliers | 440/4 | €815 | €1,000 | +€185 | +22.7% |
| Taxes, remuneration and social security | 45 | €3,951 | €2,559 | -€1,392 | -35.2% |
| Taxes | 450/3 | €3,951 | €2,559 | -€1,392 | -35.2% |
| Other amounts payable | 47/48 | €1,446 | €1,446 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,417 | €9,589 | -€1,828 | -16.0% |
| Other operating charges | 640/8 | €1,602 | €1,622 | +€20 | +1.2% |
| Gross operating margin | 9900 | €16,022 | €11,246 | -€4,776 | -29.8% |
| Operating profit (loss) | 9901 | €3,002 | €35 | -€2,967 | -98.8% |
| Financial income | 75/76B | €61 | €26 | -€35 | -57.0% |
| Recurring financial income | 75 | €61 | €26 | -€35 | -57.0% |
| Financial charges | 65/66B | €255 | €208 | -€47 | -18.3% |
| Recurring financial charges | 65 | €255 | €208 | -€47 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €2,808 | -€147 | -€2,955 | |
| Income taxes | 67/77 | €953 | €643 | -€310 | -32.5% |
| Profit (loss) for the period | 9904 | €1,855 | -€791 | -€2,646 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,855 | -€791 | -€2,646 |
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 17 October 2026 via checked.be.