SECURITY REDESIGNED: what changed
Two fiscal 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.
SECURITY REDESIGNED
Largest movements
- Cash -€19,343
down €19,343 (-12.0%), from €161,223 to €141,879
mainly Net result for the year (-€17,870) and Receivables within one year (-€12,536)
- Receivables within one year +€12,536
up €12,536 (+33.3%), from €37,634 to €50,170
of which Trade receivables: +€16,805
- Tangible fixed assets -€7,192
down €7,192 (-76.4%), from €9,408 to €2,217
of which Furniture and vehicles: -€4,913
- Profit (loss) carried forward -€17,870
down €17,870 (-32.2%), from €55,575 to €37,705
- Tax, wage and social debts +€2,968
up €2,968 (+102.2%), from €2,904 to €5,872
of which Taxes: +€2,961
- Trade debts +€2,662
up €2,662 (+91.7%), from €2,903 to €5,564
- Gross operating margin +€3,270
up €3,270 (+37.2%), from -€8,786 to -€5,515
- Taxes +€2,641
up €2,641 (+577.4%), from €457 to €3,099
- Depreciation -€2,506
down €2,506 (-25.8%), from €9,698 to €7,192
- Other operating charges +€718
up €718 (+72.6%), from €989 to €1,707
- Financial income -€546
down €546 (-95.4%), from €572 to €26
of which Non-recurring financial income: -€570
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 | €220,721 | €206,741 | -€13,981 | -6.3% |
| Fixed assets | 21/28 | €9,408 | €2,217 | -€7,192 | -76.4% |
| Tangible fixed assets | 22/27 | €9,408 | €2,217 | -€7,192 | -76.4% |
| Land and buildings | 22 | €3,702 | €1,424 | -€2,278 | -61.5% |
| Furniture and vehicles | 24 | €5,706 | €793 | -€4,913 | -86.1% |
| Current assets | 29/58 | €211,313 | €204,524 | -€6,789 | -3.2% |
| Stocks and contracts in progress | 3 | €11,765 | €11,765 | = | 0.0% |
| Stocks | 30/36 | €11,765 | €11,765 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €37,634 | €50,170 | +€12,536 | +33.3% |
| Trade receivables | 40 | €31,342 | €48,148 | +€16,805 | +53.6% |
| Other amounts receivable | 41 | €6,292 | €2,023 | -€4,270 | -67.9% |
| Cash at bank and in hand | 54/58 | €161,223 | €141,879 | -€19,343 | -12.0% |
| Deferred charges and accrued income | 490/1 | €691 | €710 | +€19 | +2.7% |
| Total equity and liabilities | 10/49 | €220,721 | €206,741 | -€13,981 | -6.3% |
| Equity | 10/15 | €204,309 | €186,439 | -€17,870 | -8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €142,534 | €142,534 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €140,674 | €140,674 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,575 | €37,705 | -€17,870 | -32.2% |
| Amounts payable | 17/49 | €16,413 | €20,302 | +€3,889 | +23.7% |
| Amounts payable within one year | 42/48 | €16,413 | €20,121 | +€3,709 | +22.6% |
| Trade debts | 44 | €2,903 | €5,564 | +€2,662 | +91.7% |
| Suppliers | 440/4 | €2,903 | €5,564 | +€2,662 | +91.7% |
| Taxes, remuneration and social security | 45 | €2,904 | €5,872 | +€2,968 | +102.2% |
| Taxes | 450/3 | €1,000 | €3,961 | +€2,961 | +296.1% |
| Remuneration and social security | 454/9 | €1,904 | €1,911 | +€7 | +0.4% |
| Other amounts payable | 47/48 | €10,606 | €8,685 | -€1,921 | -18.1% |
| Accrued charges and deferred income | 492/3 | - | €181 | +€181 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,698 | €7,192 | -€2,506 | -25.8% |
| Other operating charges | 640/8 | €989 | €1,707 | +€718 | +72.6% |
| Gross operating margin | 9900 | -€8,786 | -€5,515 | +€3,270 | +37.2% |
| Operating profit (loss) | 9901 | -€19,473 | -€14,414 | +€5,059 | +26.0% |
| Financial income | 75/76B | €572 | €26 | -€546 | -95.4% |
| Recurring financial income | 75 | €2 | €26 | +€24 | +1215.6% |
| Non-recurring financial income | 76B | €570 | - | -€570 | |
| Financial charges | 65/66B | €505 | €383 | -€122 | -24.1% |
| Recurring financial charges | 65 | €505 | €383 | -€122 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | -€19,406 | -€14,771 | +€4,635 | +23.9% |
| Income taxes | 67/77 | €457 | €3,099 | +€2,641 | +577.4% |
| Profit (loss) for the period | 9904 | -€19,863 | -€17,870 | +€1,993 | +10.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,863 | -€17,870 | +€1,993 | +10.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.