SECTION 9: 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.
SECTION 9
Largest movements
- Cash -€19,983
down €19,983 (-68.4%), from €29,205 to €9,222
mainly Receivables within one year (-€12,500) and Net result for the year (-€3,501)
- Receivables within one year +€12,500
up €12,500 (+23.9%), from €52,312 to €64,812
of which Trade receivables: +€12,100
- Profit (loss) carried forward -€3,501
down €3,501 (-326%), from -€1,073 to -€4,574
- Trade debts -€2,217
down €2,217 (-41.2%), from €5,382 to €3,165
- Tax, wage and social debts -€1,466
down €1,466 (-21.3%), from €6,891 to €5,425
- Gross operating margin -€2,798
down €2,798 (-41.8%), from €6,692 to €3,894
- Taxes -€260
no longer reported in 2025 (was €260)
- Other operating charges +€229
up €229 (+35.2%), from €650 to €879
- Depreciation -€228
down €228 (-7.5%), from €3,038 to €2,810
- Financial income +€148
up €148 (+183%), from €81 to €229
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 | €86,752 | €79,568 | -€7,184 | -8.3% |
| Fixed assets | 21/28 | €3,570 | €3,734 | +€164 | +4.6% |
| Tangible fixed assets | 22/27 | €3,360 | €3,524 | +€164 | +4.9% |
| Plant, machinery and equipment | 23 | €3,360 | €2,796 | -€564 | -16.8% |
| Furniture and vehicles | 24 | - | €728 | +€728 | |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €83,182 | €75,834 | -€7,348 | -8.8% |
| Amounts receivable within one year | 40/41 | €52,312 | €64,812 | +€12,500 | +23.9% |
| Trade receivables | 40 | €48,400 | €60,500 | +€12,100 | +25.0% |
| Other amounts receivable | 41 | €3,912 | €4,312 | +€400 | +10.2% |
| Cash at bank and in hand | 54/58 | €29,205 | €9,222 | -€19,983 | -68.4% |
| Deferred charges and accrued income | 490/1 | €1,665 | €1,800 | +€135 | +8.1% |
| Total equity and liabilities | 10/49 | €86,752 | €79,568 | -€7,184 | -8.3% |
| Equity | 10/15 | €74,479 | €70,978 | -€3,501 | -4.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €63,152 | €63,152 | = | 0.0% |
| Distributable reserves | 133 | €63,152 | €63,152 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,073 | -€4,574 | -€3,501 | -326% |
| Amounts payable | 17/49 | €12,273 | €8,590 | -€3,683 | -30.0% |
| Amounts payable within one year | 42/48 | €12,273 | €8,590 | -€3,683 | -30.0% |
| Trade debts | 44 | €5,382 | €3,165 | -€2,217 | -41.2% |
| Suppliers | 440/4 | €5,382 | €3,165 | -€2,217 | -41.2% |
| Taxes, remuneration and social security | 45 | €6,891 | €5,425 | -€1,466 | -21.3% |
| Taxes | 450/3 | €6,891 | €5,425 | -€1,466 | -21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,038 | €2,810 | -€228 | -7.5% |
| Other operating charges | 640/8 | €650 | €879 | +€229 | +35.2% |
| Gross operating margin | 9900 | €6,692 | €3,894 | -€2,798 | -41.8% |
| Operating profit (loss) | 9901 | €3,004 | €205 | -€2,799 | -93.2% |
| Financial income | 75/76B | €81 | €229 | +€148 | +183% |
| Recurring financial income | 75 | €81 | €229 | +€148 | +183% |
| Financial charges | 65/66B | €3,898 | €3,935 | +€37 | +0.9% |
| Recurring financial charges | 65 | €3,898 | €3,935 | +€37 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€813 | -€3,501 | -€2,688 | -331% |
| Income taxes | 67/77 | €260 | - | -€260 | |
| Profit (loss) for the period | 9904 | -€1,073 | -€3,501 | -€2,428 | -226% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,073 | -€3,501 | -€2,428 | -226% |
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 18 October 2026 via checked.be.