SENS 2: 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.
SENS 2
Largest movements
- Intangible fixed assets -€4,800
down €4,800 (-22.2%), from €21,600 to €16,800
- Tangible fixed assets -€2,053
down €2,053 (-43.4%), from €4,727 to €2,674
- Cash +€1,623
up €1,623 (+408.9%), from €397 to €2,020
mainly Depreciation (+€6,853) and Other debts (+€5,986)
- Profit (loss) carried forward -€8,457
down €8,457 (-39.9%), from -€21,197 to -€29,654
- Other debts +€5,986
up €5,986 (+18.2%), from €32,954 to €38,940
- Trade debts -€2,760
down €2,760 (-88.8%), from €3,108 to €348
- Taxes +€1,471
no longer reported in 2025 (was -€1,471)
- Other operating charges -€1,314
down €1,314 (-72.4%), from €1,815 to €501
- Gross operating margin +€406
up €406 (+230.9%), from €176 to €582
- Depreciation -€135
down €135 (-1.9%), from €6,988 to €6,853
- Financial charges -€68
down €68 (-3.9%), from €1,753 to €1,685
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 | €27,365 | €22,134 | -€5,231 | -19.1% |
| Fixed assets | 21/28 | €26,327 | €19,474 | -€6,853 | -26.0% |
| Intangible fixed assets | 21 | €21,600 | €16,800 | -€4,800 | -22.2% |
| Tangible fixed assets | 22/27 | €4,727 | €2,674 | -€2,053 | -43.4% |
| Plant, machinery and equipment | 23 | €4,727 | €2,674 | -€2,053 | -43.4% |
| Current assets | 29/58 | €1,038 | €2,661 | +€1,623 | +156.3% |
| Amounts receivable within one year | 40/41 | €641 | €641 | = | 0.0% |
| Trade receivables | 40 | €641 | €641 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €397 | €2,020 | +€1,623 | +408.9% |
| Total equity and liabilities | 10/49 | €27,365 | €22,134 | -€5,231 | -19.1% |
| Equity | 10/15 | -€8,697 | -€17,154 | -€8,457 | -97.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,197 | -€29,654 | -€8,457 | -39.9% |
| Amounts payable | 17/49 | €36,062 | €39,288 | +€3,226 | +8.9% |
| Amounts payable within one year | 42/48 | €36,062 | €39,288 | +€3,226 | +8.9% |
| Trade debts | 44 | €3,108 | €348 | -€2,760 | -88.8% |
| Suppliers | 440/4 | €3,108 | €348 | -€2,760 | -88.8% |
| Other amounts payable | 47/48 | €32,954 | €38,940 | +€5,986 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,988 | €6,853 | -€135 | -1.9% |
| Other operating charges | 640/8 | €1,815 | €501 | -€1,314 | -72.4% |
| Non-recurring operating charges | 66A | €155 | - | -€155 | |
| Gross operating margin | 9900 | €176 | €582 | +€406 | +230.9% |
| Operating profit (loss) | 9901 | -€8,783 | -€6,772 | +€2,011 | +22.9% |
| Financial charges | 65/66B | €1,753 | €1,685 | -€68 | -3.9% |
| Recurring financial charges | 65 | €1,753 | €1,685 | -€68 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,536 | -€8,457 | +€2,079 | +19.7% |
| Income taxes | 67/77 | -€1,471 | - | +€1,471 | |
| Profit (loss) for the period | 9904 | -€9,065 | -€8,457 | +€609 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,065 | -€8,457 | +€609 | +6.7% |
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.