Shaun: 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.
Shaun
Largest movements
- Receivables after one year -€10,586
down €10,586 (-8.5%), from €124,303 to €113,717
- Cash +€4,346
up €4,346 (+39.3%), from €11,069 to €15,415
mainly Receivables after one year (+€10,586) and Receivables within one year (+€4,302)
- Receivables within one year -€4,302
down €4,302 (-24.1%), from €17,888 to €13,586
of which Other amounts receivable: -€2,502
- Tangible fixed assets -€2,642
down €2,642 (-100.0%), from €2,642 to €0
of which Furniture and vehicles: -€2,642
- Other debts -€10,000
down €10,000 (-0.9%), from €1.1m to €1.1m
- Profit (loss) carried forward -€2,481
down €2,481 (-0.2%), from -€1.1m to -€1.1m
- Depreciation -€4,032
down €4,032 (-100.0%), from €4,032 to €0
- Other operating charges +€2,493
up €2,493 (+195.5%), from €1,275 to €3,768
- Gross operating margin -€2,071
down €2,071 (-147.7%), from -€1,402 to -€3,473
- Staff costs -€1,577
down €1,577 (-95.3%), from €1,654 to €77
- Financial income -€479
down €479 (-8.9%), from €5,391 to €4,912
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 | €155,902 | €142,719 | -€13,184 | -8.5% |
| Fixed assets | 21/28 | €2,642 | €0 | -€2,642 | -100.0% |
| Tangible fixed assets | 22/27 | €2,642 | €0 | -€2,642 | -100.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,642 | €0 | -€2,642 | -100.0% |
| Current assets | 29/58 | €153,261 | €142,719 | -€10,542 | -6.9% |
| Amounts receivable after more than one year | 29 | €124,303 | €113,717 | -€10,586 | -8.5% |
| Trade receivables | 290 | €124,303 | €113,717 | -€10,586 | -8.5% |
| Amounts receivable within one year | 40/41 | €17,888 | €13,586 | -€4,302 | -24.1% |
| Trade receivables | 40 | €1,800 | €0 | -€1,800 | -100.0% |
| Other amounts receivable | 41 | €16,088 | €13,586 | -€2,502 | -15.6% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,069 | €15,415 | +€4,346 | +39.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €155,902 | €142,719 | -€13,184 | -8.5% |
| Equity | 10/15 | -€982,477 | -€984,958 | -€2,481 | -0.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,082,477 | -€1,084,958 | -€2,481 | -0.2% |
| Amounts payable | 17/49 | €1,138,379 | €1,127,676 | -€10,703 | -0.9% |
| Amounts payable within one year | 42/48 | €1,138,379 | €1,127,676 | -€10,703 | -0.9% |
| Trade debts | 44 | €1,879 | €1,176 | -€703 | -37.4% |
| Suppliers | 440/4 | €1,879 | €1,176 | -€703 | -37.4% |
| Other amounts payable | 47/48 | €1,136,500 | €1,126,500 | -€10,000 | -0.9% |
| Remuneration, social security and pensions | 62 | €1,654 | €77 | -€1,577 | -95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,032 | €0 | -€4,032 | -100.0% |
| Other operating charges | 640/8 | €1,275 | €3,768 | +€2,493 | +195.5% |
| Non-recurring operating charges | 66A | €809,129 | €0 | -€809,129 | -100.0% |
| Gross operating margin | 9900 | -€1,402 | -€3,473 | -€2,071 | -147.7% |
| Operating profit (loss) | 9901 | -€817,492 | -€7,318 | +€810,174 | +99.1% |
| Financial income | 75/76B | €5,391 | €4,912 | -€479 | -8.9% |
| Recurring financial income | 75 | €5,391 | €4,912 | -€479 | -8.9% |
| Financial charges | 65/66B | €72 | €75 | +€3 | +4.7% |
| Recurring financial charges | 65 | €72 | €75 | +€3 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | -€812,173 | -€2,481 | +€809,691 | +99.7% |
| Profit (loss) for the period | 9904 | -€812,173 | -€2,481 | +€809,691 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€812,173 | -€2,481 | +€809,691 | +99.7% |
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 5 October 2026 via checked.be.