Shadi@Voltman: 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.
Shadi@Voltman
Largest movements
- Cash +€3,843
up €3,843 (+109%), from €3,539 to €7,382
mainly Other debts (+€17,771) and Receivables within one year (+€2,966)
- Receivables within one year -€2,966
down €2,966 (-22.3%), from €13,314 to €10,347
of which Other amounts receivable: -€2,880
- Tangible fixed assets -€1,375
down €1,375 (-48.5%), from €2,833 to €1,458
of which Furniture and vehicles: -€1,203
- Profit (loss) carried forward -€21,458
down €21,458, from €15,548 to -€5,910
- Other debts +€17,771
up €17,771 (+97,216%), from €18 to €17,789
- Tax, wage and social debts +€1,848
new in 2025: €1,848
- Trade debts +€1,397
up €1,397 (+67.7%), from €2,063 to €3,460
- Staff costs +€12,309
new in 2025: €12,309
- Gross operating margin -€5,105
down €5,105 (-243%), from -€2,099 to -€7,203
- Taxes +€919
up €919, from -€904 to €15
- Financial charges -€585
down €585 (-80.6%), from €726 to €141
- Other operating charges -€160
down €160 (-25.5%), from €626 to €466
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 | €19,685 | €19,187 | -€498 | -2.5% |
| Fixed assets | 21/28 | €2,833 | €1,458 | -€1,375 | -48.5% |
| Tangible fixed assets | 22/27 | €2,833 | €1,458 | -€1,375 | -48.5% |
| Plant, machinery and equipment | 23 | €172 | - | -€172 | |
| Furniture and vehicles | 24 | €2,661 | €1,458 | -€1,203 | -45.2% |
| Current assets | 29/58 | €16,852 | €17,729 | +€877 | +5.2% |
| Amounts receivable within one year | 40/41 | €13,314 | €10,347 | -€2,966 | -22.3% |
| Trade receivables | 40 | €10,055 | €9,968 | -€87 | -0.9% |
| Other amounts receivable | 41 | €3,259 | €379 | -€2,880 | -88.4% |
| Cash at bank and in hand | 54/58 | €3,539 | €7,382 | +€3,843 | +109% |
| Total equity and liabilities | 10/49 | €19,685 | €19,187 | -€498 | -2.5% |
| Equity | 10/15 | €17,548 | -€3,910 | -€21,458 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,548 | -€5,910 | -€21,458 | |
| Amounts payable | 17/49 | €2,137 | €23,097 | +€20,961 | +981% |
| Amounts payable within one year | 42/48 | €2,137 | €23,097 | +€20,961 | +981% |
| Financial debts | 43 | €55 | - | -€55 | |
| Credit institutions | 430/8 | €55 | - | -€55 | |
| Trade debts | 44 | €2,063 | €3,460 | +€1,397 | +67.7% |
| Suppliers | 440/4 | €2,063 | €3,460 | +€1,397 | +67.7% |
| Taxes, remuneration and social security | 45 | - | €1,848 | +€1,848 | |
| Remuneration and social security | 454/9 | - | €1,848 | +€1,848 | |
| Other amounts payable | 47/48 | €18 | €17,789 | +€17,771 | +97,216% |
| Remuneration, social security and pensions | 62 | - | €12,309 | +€12,309 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,268 | €1,375 | +€107 | +8.4% |
| Other operating charges | 640/8 | €626 | €466 | -€160 | -25.5% |
| Gross operating margin | 9900 | -€2,099 | -€7,203 | -€5,105 | -243% |
| Operating profit (loss) | 9901 | -€3,992 | -€21,352 | -€17,360 | -435% |
| Financial income | 75/76B | €62 | €50 | -€12 | -19.0% |
| Recurring financial income | 75 | €62 | €50 | -€12 | -19.0% |
| Financial charges | 65/66B | €726 | €141 | -€585 | -80.6% |
| Recurring financial charges | 65 | €726 | €141 | -€585 | -80.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,657 | -€21,443 | -€16,787 | -360% |
| Income taxes | 67/77 | -€904 | €15 | +€919 | |
| Profit (loss) for the period | 9904 | -€3,752 | -€21,458 | -€17,706 | -472% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,752 | -€21,458 | -€17,706 | -472% |
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 26 October 2026 via checked.be.