Sensemaking: 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.
Sensemaking
Largest movements
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Cash +€62,183
up €62,183 (+88.5%), from €70,258 to €132,441
mainly Current investments (+€200,000) and Other debts (+€108,845)
- Receivables within one year -€29,545
down €29,545 (-54.7%), from €54,047 to €24,502
of which Other amounts receivable: -€28,893
- Tangible fixed assets -€6,821
down €6,821 (-14.1%), from €48,482 to €41,661
of which Furniture and vehicles: -€9,822
- Reserves -€288,358
down €288,358 (-99.5%), from €289,845 to €1,487
- Other debts +€108,845
up €108,845, from €0 to €108,845
- Gross operating margin -€51,410
down €51,410 (-27.0%), from €190,563 to €139,153
- Taxes -€12,940
down €12,940 (-31.5%), from €41,096 to €28,156
- Depreciation +€2,071
up €2,071 (+16.4%), from €12,634 to €14,705
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 | €373,805 | €199,659 | -€174,146 | -46.6% |
| Fixed assets | 21/28 | €48,482 | €41,661 | -€6,821 | -14.1% |
| Tangible fixed assets | 22/27 | €48,482 | €41,661 | -€6,821 | -14.1% |
| Plant, machinery and equipment | 23 | €10,271 | €13,272 | +€3,002 | +29.2% |
| Furniture and vehicles | 24 | €38,211 | €28,389 | -€9,822 | -25.7% |
| Current assets | 29/58 | €325,323 | €157,998 | -€167,325 | -51.4% |
| Amounts receivable within one year | 40/41 | €54,047 | €24,502 | -€29,545 | -54.7% |
| Trade receivables | 40 | €19,566 | €18,914 | -€652 | -3.3% |
| Other amounts receivable | 41 | €34,482 | €5,589 | -€28,893 | -83.8% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €70,258 | €132,441 | +€62,183 | +88.5% |
| Deferred charges and accrued income | 490/1 | €1,017 | €1,055 | +€37 | +3.7% |
| Total equity and liabilities | 10/49 | €373,805 | €199,659 | -€174,146 | -46.6% |
| Equity | 10/15 | €294,845 | €6,487 | -€288,358 | -97.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €289,845 | €1,487 | -€288,358 | -99.5% |
| Distributable reserves | 133 | €289,845 | €1,487 | -€288,358 | -99.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,960 | €193,172 | +€114,212 | +144.6% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €0 | -€75,000 | -100.0% |
| Other amounts payable | 178/9 | - | €75,000 | +€75,000 | |
| Amounts payable within one year | 42/48 | €3,677 | €117,889 | +€114,212 | +3106.5% |
| Trade debts | 44 | - | €1,844 | +€1,844 | |
| Suppliers | 440/4 | - | €1,844 | +€1,844 | |
| Taxes, remuneration and social security | 45 | €3,677 | €7,200 | +€3,523 | +95.8% |
| Taxes | 450/3 | €3,677 | €7,200 | +€3,523 | +95.8% |
| Other amounts payable | 47/48 | €0 | €108,845 | +€108,845 | |
| Accrued charges and deferred income | 492/3 | €284 | €284 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,634 | €14,705 | +€2,071 | +16.4% |
| Other operating charges | 640/8 | €232 | €128 | -€104 | -44.8% |
| Gross operating margin | 9900 | €190,563 | €139,153 | -€51,410 | -27.0% |
| Operating profit (loss) | 9901 | €177,697 | €124,320 | -€53,377 | -30.0% |
| Financial income | 75/76B | €3,549 | €4,149 | +€600 | +16.9% |
| Recurring financial income | 75 | €3,549 | €4,149 | +€600 | +16.9% |
| Financial charges | 65/66B | €668 | €671 | +€4 | +0.5% |
| Recurring financial charges | 65 | €668 | €671 | +€4 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €180,578 | €127,798 | -€52,780 | -29.2% |
| Income taxes | 67/77 | €41,096 | €28,156 | -€12,940 | -31.5% |
| Profit (loss) for the period | 9904 | €139,482 | €99,642 | -€39,840 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €139,482 | €99,642 | -€39,840 | -28.6% |
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.