SIDE EFFECTS: 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.
SIDE EFFECTS
Largest movements
- Cash +€13,091
up €13,091 (+44.2%), from €29,610 to €42,702
mainly Trade debts (+€13,426) and Other debts (+€13,206)
- Tangible fixed assets -€4,320
down €4,320 (-23.6%), from €18,303 to €13,983
of which Plant, machinery and equipment: -€4,858
- Receivables within one year +€4,164
up €4,164 (+204.3%), from €2,038 to €6,202
of which Trade receivables: +€2,611
- Reserves -€14,551
down €14,551 (-42.8%), from €33,999 to €19,448
- Trade debts +€13,426
up €13,426 (+891.9%), from €1,505 to €14,932
- Other debts +€13,206
up €13,206 (+102.6%), from €12,875 to €26,081
- Tax, wage and social debts +€700
new in 2025: €700
- Gross operating margin -€3,125
down €3,125 (-29.8%), from €10,474 to €7,349
- Taxes -€566
down €566 (-44.7%), from €1,266 to €700
- Financial income -€433
down €433 (-62.1%), from €698 to €265
- Depreciation -€304
down €304 (-5.0%), from €6,115 to €5,811
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 | €51,380 | €64,161 | +€12,781 | +24.9% |
| Fixed assets | 21/28 | €18,756 | €13,983 | -€4,772 | -25.4% |
| Intangible fixed assets | 21 | €453 | - | -€453 | |
| Tangible fixed assets | 22/27 | €18,303 | €13,983 | -€4,320 | -23.6% |
| Plant, machinery and equipment | 23 | €17,019 | €12,160 | -€4,858 | -28.5% |
| Furniture and vehicles | 24 | €1,284 | €1,823 | +€538 | +41.9% |
| Current assets | 29/58 | €32,624 | €50,178 | +€17,553 | +53.8% |
| Amounts receivable within one year | 40/41 | €2,038 | €6,202 | +€4,164 | +204.3% |
| Trade receivables | 40 | - | €2,611 | +€2,611 | |
| Other amounts receivable | 41 | €2,038 | €3,591 | +€1,553 | +76.2% |
| Cash at bank and in hand | 54/58 | €29,610 | €42,702 | +€13,091 | +44.2% |
| Deferred charges and accrued income | 490/1 | €976 | €1,275 | +€299 | +30.6% |
| Total equity and liabilities | 10/49 | €51,380 | €64,161 | +€12,781 | +24.9% |
| Equity | 10/15 | €36,999 | €22,448 | -€14,551 | -39.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €33,999 | €19,448 | -€14,551 | -42.8% |
| Distributable reserves | 133 | €33,999 | €19,448 | -€14,551 | -42.8% |
| Amounts payable | 17/49 | €14,381 | €41,713 | +€27,332 | +190.1% |
| Amounts payable within one year | 42/48 | €14,381 | €41,713 | +€27,332 | +190.1% |
| Trade debts | 44 | €1,505 | €14,932 | +€13,426 | +891.9% |
| Suppliers | 440/4 | €1,505 | €14,932 | +€13,426 | +891.9% |
| Taxes, remuneration and social security | 45 | - | €700 | +€700 | |
| Taxes | 450/3 | - | €700 | +€700 | |
| Other amounts payable | 47/48 | €12,875 | €26,081 | +€13,206 | +102.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,115 | €5,811 | -€304 | -5.0% |
| Other operating charges | 640/8 | €513 | €593 | +€80 | +15.6% |
| Gross operating margin | 9900 | €10,474 | €7,349 | -€3,125 | -29.8% |
| Operating profit (loss) | 9901 | €3,845 | €944 | -€2,901 | -75.4% |
| Financial income | 75/76B | €698 | €265 | -€433 | -62.1% |
| Recurring financial income | 75 | €698 | €265 | -€433 | -62.1% |
| Financial charges | 65/66B | €47 | €60 | +€14 | +29.2% |
| Recurring financial charges | 65 | €47 | €60 | +€14 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €4,497 | €1,149 | -€3,348 | -74.4% |
| Income taxes | 67/77 | €1,266 | €700 | -€566 | -44.7% |
| Profit (loss) for the period | 9904 | €3,231 | €449 | -€2,782 | -86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,231 | €449 | -€2,782 | -86.1% |
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 1 October 2026 via checked.be.