SECOND NATURE: 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.
SECOND NATURE
Largest movements
- Receivables within one year -€21,734
down €21,734 (-76.8%), from €28,293 to €6,559
- Cash +€7,060
up €7,060 (+42.3%), from €16,693 to €23,752
mainly Receivables within one year (+€21,734) and Depreciation (+€509)
- Tangible fixed assets +€1,621
up €1,621 (+221.1%), from €733 to €2,354
of which Plant, machinery and equipment: +€1,891
- Profit (loss) carried forward -€10,395
new in 2025: -€10,395
- Tax, wage and social debts -€1,101
down €1,101 (-14.5%), from €7,592 to €6,491
- Other debts -€941
down €941 (-12.8%), from €7,328 to €6,386
- Trade debts -€616
down €616 (-61.9%), from €995 to €379
- Gross operating margin -€24,985
down €24,985, from €15,624 to -€9,361
- Taxes -€4,130
no longer reported in 2025 (was €4,130)
- Other operating charges +€402
up €402 (+340.4%), from €118 to €520
- Depreciation +€239
up €239 (+88.6%), from €270 to €509
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.
Cash bridge derived
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 | €45,919 | €32,866 | -€13,053 | -28.4% |
| Fixed assets | 21/28 | €733 | €2,354 | +€1,621 | +221.1% |
| Tangible fixed assets | 22/27 | €733 | €2,354 | +€1,621 | +221.1% |
| Plant, machinery and equipment | 23 | - | €1,891 | +€1,891 | |
| Other tangible fixed assets | 26 | €733 | €463 | -€270 | -36.8% |
| Current assets | 29/58 | €45,186 | €30,512 | -€14,674 | -32.5% |
| Amounts receivable within one year | 40/41 | €28,293 | €6,559 | -€21,734 | -76.8% |
| Trade receivables | 40 | €28,293 | €6,559 | -€21,734 | -76.8% |
| Cash at bank and in hand | 54/58 | €16,693 | €23,752 | +€7,060 | +42.3% |
| Deferred charges and accrued income | 490/1 | €200 | €200 | = | 0.0% |
| Total equity and liabilities | 10/49 | €45,919 | €32,866 | -€13,053 | -28.4% |
| Equity | 10/15 | €30,004 | €19,609 | -€10,395 | -34.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €27,004 | €27,004 | = | 0.0% |
| Distributable reserves | 133 | €27,004 | €27,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,395 | -€10,395 | |
| Amounts payable | 17/49 | €15,915 | €13,257 | -€2,658 | -16.7% |
| Amounts payable within one year | 42/48 | €15,915 | €13,257 | -€2,658 | -16.7% |
| Trade debts | 44 | €995 | €379 | -€616 | -61.9% |
| Suppliers | 440/4 | €995 | €379 | -€616 | -61.9% |
| Taxes, remuneration and social security | 45 | €7,592 | €6,491 | -€1,101 | -14.5% |
| Taxes | 450/3 | €7,592 | €6,491 | -€1,101 | -14.5% |
| Other amounts payable | 47/48 | €7,328 | €6,386 | -€941 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270 | €509 | +€239 | +88.6% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340.4% |
| Gross operating margin | 9900 | €15,624 | -€9,361 | -€24,985 | |
| Operating profit (loss) | 9901 | €15,236 | -€10,390 | -€25,626 | |
| Financial charges | 65/66B | €94 | €5 | -€89 | -94.9% |
| Recurring financial charges | 65 | €94 | €5 | -€89 | -94.9% |
| Profit (loss) for the period before taxes | 9903 | €15,142 | -€10,395 | -€25,536 | |
| Income taxes | 67/77 | €4,130 | - | -€4,130 | |
| Profit (loss) for the period | 9904 | €11,012 | -€10,395 | -€21,407 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,012 | -€10,395 | -€21,407 |
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 9 October 2026 via checked.be.