Say it, play it: what changed
Say it, play it
Largest movements
- Cash -€124,583
down €124,583 (-89.0%), from €140,057 to €15,474
mainly Contributions, distributions and other (-€148,650) and Trade debts (-€5,492)
- Reserves -€129,815
down €129,815 (-87.3%), from €148,650 to €18,835
- Other debts +€15,051
up €15,051 (+2,180%), from €691 to €15,741
- Trade debts -€5,492
down €5,492 (-91.3%), from €6,017 to €525
- Tax, wage and social debts -€4,832
down €4,832 (-48.6%), from €9,937 to €5,105
- Gross operating margin -€41,548
down €41,548 (-57.2%), from €72,641 to €31,092
- Taxes -€8,122
down €8,122 (-58.1%), from €13,983 to €5,861
- Depreciation -€1,399
down €1,399 (-18.9%), from €7,400 to €6,001
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,295 | €45,206 | -€125,088 | -73.5% |
| Fixed assets | 21/28 | €10,252 | €8,681 | -€1,571 | -15.3% |
| Tangible fixed assets | 22/27 | €10,252 | €8,681 | -€1,571 | -15.3% |
| Plant, machinery and equipment | 23 | €8,841 | €7,844 | -€997 | -11.3% |
| Furniture and vehicles | 24 | €1,411 | €837 | -€574 | -40.7% |
| Current assets | 29/58 | €160,043 | €36,525 | -€123,517 | -77.2% |
| Amounts receivable within one year | 40/41 | €19,985 | €21,051 | +€1,066 | +5.3% |
| Trade receivables | 40 | €16,469 | €13,912 | -€2,557 | -15.5% |
| Other amounts receivable | 41 | €3,517 | €7,139 | +€3,622 | +103% |
| Cash at bank and in hand | 54/58 | €140,057 | €15,474 | -€124,583 | -89.0% |
| Total equity and liabilities | 10/49 | €170,295 | €45,206 | -€125,088 | -73.5% |
| Equity | 10/15 | €153,650 | €23,835 | -€129,815 | -84.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €148,650 | €18,835 | -€129,815 | -87.3% |
| Distributable reserves | 133 | €148,650 | €18,835 | -€129,815 | -87.3% |
| Amounts payable | 17/49 | €16,645 | €21,371 | +€4,727 | +28.4% |
| Amounts payable within one year | 42/48 | €16,645 | €21,371 | +€4,727 | +28.4% |
| Trade debts | 44 | €6,017 | €525 | -€5,492 | -91.3% |
| Suppliers | 440/4 | €6,017 | €525 | -€5,492 | -91.3% |
| Taxes, remuneration and social security | 45 | €9,937 | €5,105 | -€4,832 | -48.6% |
| Taxes | 450/3 | €9,937 | €5,105 | -€4,832 | -48.6% |
| Other amounts payable | 47/48 | €691 | €15,741 | +€15,051 | +2,180% |
| Non-recurring operating income | 76A | €5,829 | - | -€5,829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,400 | €6,001 | -€1,399 | -18.9% |
| Other operating charges | 640/8 | €210 | €246 | +€36 | +17.2% |
| Gross operating margin | 9900 | €72,641 | €31,092 | -€41,548 | -57.2% |
| Operating profit (loss) | 9901 | €65,031 | €24,846 | -€40,185 | -61.8% |
| Financial charges | 65/66B | €96 | €150 | +€54 | +56.0% |
| Recurring financial charges | 65 | €96 | €150 | +€54 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €64,935 | €24,696 | -€40,239 | -62.0% |
| Income taxes | 67/77 | €13,983 | €5,861 | -€8,122 | -58.1% |
| Profit (loss) for the period | 9904 | €50,951 | €18,835 | -€32,116 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,951 | €18,835 | -€32,116 | -63.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.