Sebastien Nahon: what changed
Sebastien Nahon
Largest movements
- Tangible fixed assets +€1,297
up €1,297 (+31.2%), from €4,154 to €5,451
of which Furniture and vehicles: +€2,157
- Receivables within one year -€644
down €644 (-2.4%), from €26,824 to €26,180
of which Other amounts receivable: -€1,838
- Profit (loss) carried forward +€1,898
up €1,898 (+14.3%), from €13,297 to €15,195
- Trade debts -€670
down €670 (-49.2%), from €1,364 to €693
- Tax, wage and social debts -€568
down €568 (-17.5%), from €3,238 to €2,671
- Financial income -€6,120
no longer reported in 2025 (was €6,120)
of which Financial income: -€6,120
- Taxes -€1,596
down €1,596 (-68.6%), from €2,327 to €731
- Gross operating margin -€1,219
down €1,219 (-18.5%), from €6,573 to €5,355
- Other operating charges -€187
down €187 (-27.5%), from €680 to €493
- Depreciation +€139
up €139 (+11.6%), from €1,193 to €1,332
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 | €30,978 | €31,631 | +€653 | +2.1% |
| Fixed assets | 21/28 | €4,154 | €5,451 | +€1,297 | +31.2% |
| Tangible fixed assets | 22/27 | €4,154 | €5,451 | +€1,297 | +31.2% |
| Furniture and vehicles | 24 | €470 | €2,627 | +€2,157 | +459% |
| Other tangible fixed assets | 26 | €3,683 | €2,823 | -€860 | -23.4% |
| Current assets | 29/58 | €26,824 | €26,180 | -€644 | -2.4% |
| Amounts receivable within one year | 40/41 | €26,824 | €26,180 | -€644 | -2.4% |
| Trade receivables | 40 | - | €1,193 | +€1,193 | |
| Other amounts receivable | 41 | €26,824 | €24,986 | -€1,838 | -6.9% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €30,978 | €31,631 | +€653 | +2.1% |
| Equity | 10/15 | €21,357 | €23,255 | +€1,898 | +8.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,297 | €15,195 | +€1,898 | +14.3% |
| Amounts payable | 17/49 | €9,621 | €8,376 | -€1,245 | -12.9% |
| Amounts payable within one year | 42/48 | €9,458 | €8,363 | -€1,094 | -11.6% |
| Financial debts | 43 | €4,855 | €4,999 | +€144 | +3.0% |
| Credit institutions | 430/8 | €4,855 | €4,999 | +€144 | +3.0% |
| Trade debts | 44 | €1,364 | €693 | -€670 | -49.2% |
| Suppliers | 440/4 | €1,364 | €693 | -€670 | -49.2% |
| Taxes, remuneration and social security | 45 | €3,238 | €2,671 | -€568 | -17.5% |
| Taxes | 450/3 | €3,238 | €2,671 | -€568 | -17.5% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €163 | €13 | -€150 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,193 | €1,332 | +€139 | +11.6% |
| Other operating charges | 640/8 | €680 | €493 | -€187 | -27.5% |
| Gross operating margin | 9900 | €6,573 | €5,355 | -€1,219 | -18.5% |
| Operating profit (loss) | 9901 | €4,701 | €3,530 | -€1,170 | -24.9% |
| Financial income | 75/76B | €6,120 | - | -€6,120 | |
| Recurring financial income | 75 | €6,120 | - | -€6,120 | |
| Non-recurring financial income | 76B | €6,120 | - | -€6,120 | |
| Financial charges | 65/66B | €892 | €901 | +€10 | +1.1% |
| Recurring financial charges | 65 | €892 | €901 | +€10 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €9,929 | €2,629 | -€7,300 | -73.5% |
| Income taxes | 67/77 | €2,327 | €731 | -€1,596 | -68.6% |
| Profit (loss) for the period | 9904 | €7,602 | €1,898 | -€5,704 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,602 | €1,898 | -€5,704 | -75.0% |
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 2 November 2026 via checked.be.