SMALL: 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.
SMALL
Largest movements
- Receivables within one year -€36,828
down €36,828 (-58.8%), from €62,660 to €25,832
of which Trade receivables: -€40,298
- Stocks and contracts +€20,750
new in 2025: €20,750
- Tangible fixed assets -€16,358
down €16,358 (-12.8%), from €127,506 to €111,147
of which Furniture and vehicles: -€9,137
- Cash +€4,755
up €4,755 (+23.6%), from €20,142 to €24,897
mainly Receivables within one year (+€36,828) and Depreciation (+€16,358)
- Deferred charges and accrued income +€4,005
up €4,005 (+440%), from €909 to €4,914
- Profit (loss) carried forward -€21,774
down €21,774 (-44.8%), from €48,592 to €26,818
- Debts after one year -€10,979
down €10,979 (-12.0%), from €91,609 to €80,630
- Other debts +€6,749
up €6,749 (+38.8%), from €17,411 to €24,160
- Trade debts +€3,895
up €3,895 (+17.0%), from €22,961 to €26,856
- Gross operating margin -€49,407
down €49,407 (-44.8%), from €110,310 to €60,902
- Taxes -€4,698
down €4,698 (-97.3%), from €4,830 to €132
- Financial charges -€3,077
down €3,077 (-41.1%), from €7,492 to €4,414
- Staff costs -€1,401
down €1,401 (-2.3%), from €61,294 to €59,893
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 | €211,242 | €187,565 | -€23,677 | -11.2% |
| Fixed assets | 21/28 | €127,531 | €111,172 | -€16,358 | -12.8% |
| Tangible fixed assets | 22/27 | €127,506 | €111,147 | -€16,358 | -12.8% |
| Land and buildings | 22 | €91,676 | €85,672 | -€6,004 | -6.5% |
| Plant, machinery and equipment | 23 | €3,170 | €1,953 | -€1,217 | -38.4% |
| Furniture and vehicles | 24 | €32,660 | €23,522 | -€9,137 | -28.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €83,711 | €76,393 | -€7,319 | -8.7% |
| Stocks and contracts in progress | 3 | - | €20,750 | +€20,750 | |
| Stocks | 30/36 | - | €20,750 | +€20,750 | |
| Amounts receivable within one year | 40/41 | €62,660 | €25,832 | -€36,828 | -58.8% |
| Trade receivables | 40 | €54,825 | €14,527 | -€40,298 | -73.5% |
| Other amounts receivable | 41 | €7,835 | €11,305 | +€3,470 | +44.3% |
| Cash at bank and in hand | 54/58 | €20,142 | €24,897 | +€4,755 | +23.6% |
| Deferred charges and accrued income | 490/1 | €909 | €4,914 | +€4,005 | +440% |
| Total equity and liabilities | 10/49 | €211,242 | €187,565 | -€23,677 | -11.2% |
| Equity | 10/15 | €62,952 | €41,178 | -€21,774 | -34.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €7,360 | €7,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,592 | €26,818 | -€21,774 | -44.8% |
| Amounts payable | 17/49 | €148,290 | €146,387 | -€1,903 | -1.3% |
| Amounts payable after more than one year | 17 | €91,609 | €80,630 | -€10,979 | -12.0% |
| Financial debts | 170/4 | €91,609 | €80,630 | -€10,979 | -12.0% |
| Amounts payable within one year | 42/48 | €56,064 | €65,201 | +€9,137 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €10,521 | €10,979 | +€459 | +4.4% |
| Trade debts | 44 | €22,961 | €26,856 | +€3,895 | +17.0% |
| Suppliers | 440/4 | €22,961 | €26,856 | +€3,895 | +17.0% |
| Taxes, remuneration and social security | 45 | €5,171 | €3,206 | -€1,965 | -38.0% |
| Remuneration and social security | 454/9 | €5,171 | €3,206 | -€1,965 | -38.0% |
| Other amounts payable | 47/48 | €17,411 | €24,160 | +€6,749 | +38.8% |
| Accrued charges and deferred income | 492/3 | €617 | €556 | -€61 | -9.9% |
| Remuneration, social security and pensions | 62 | €61,294 | €59,893 | -€1,401 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,286 | €16,358 | +€1,072 | +7.0% |
| Other operating charges | 640/8 | €1,856 | €1,881 | +€25 | +1.4% |
| Gross operating margin | 9900 | €110,310 | €60,902 | -€49,407 | -44.8% |
| Operating profit (loss) | 9901 | €31,874 | -€17,231 | -€49,104 | |
| Financial income | 75/76B | €32 | €3 | -€29 | -90.4% |
| Recurring financial income | 75 | €32 | €3 | -€29 | -90.4% |
| Financial charges | 65/66B | €7,492 | €4,414 | -€3,077 | -41.1% |
| Recurring financial charges | 65 | €7,492 | €4,414 | -€3,077 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €24,415 | -€21,642 | -€46,056 | |
| Income taxes | 67/77 | €4,830 | €132 | -€4,698 | -97.3% |
| Profit (loss) for the period | 9904 | €19,585 | -€21,774 | -€41,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,585 | -€21,774 | -€41,358 |
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 28 October 2026 via checked.be.