SO MANY WAYS: 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.
SO MANY WAYS
Largest movements
- Tangible fixed assets -€31,398
down €31,398 (-26.2%), from €119,890 to €88,491
of which Plant, machinery and equipment: -€23,329
- Cash +€21,274
up €21,274 (+417%), from €5,100 to €26,373
mainly Depreciation (+€31,400) and Net result for the year (+€5,909)
- Debts after one year -€11,689
down €11,689 (-39.1%), from €29,924 to €18,235
- Reserves +€6,000
up €6,000 (+5.6%), from €106,455 to €112,455
of which Distributable reserves: +€6,000
- Trade debts -€5,783
down €5,783 (-88.8%), from €6,510 to €728
- Tax, wage and social debts +€3,656
up €3,656 (+109%), from €3,351 to €7,007
of which Taxes: +€4,423
- Other debts -€3,024
down €3,024 (-51.8%), from €5,841 to €2,817
- Gross operating margin +€47,486
up €47,486 (+2,485%), from €1,911 to €49,397
- Staff costs +€5,839
up €5,839 (+464%), from €1,258 to €7,098
- Depreciation -€3,499
down €3,499 (-10.0%), from €34,899 to €31,400
- Financial charges -€556
down €556 (-31.3%), from €1,775 to €1,220
- Other operating charges +€508
up €508 (+17.4%), from €2,921 to €3,430
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 | €173,553 | €164,492 | -€9,061 | -5.2% |
| Fixed assets | 21/28 | €119,890 | €88,491 | -€31,398 | -26.2% |
| Tangible fixed assets | 22/27 | €119,890 | €88,491 | -€31,398 | -26.2% |
| Land and buildings | 22 | €53,760 | €47,040 | -€6,720 | -12.5% |
| Plant, machinery and equipment | 23 | €63,408 | €40,079 | -€23,329 | -36.8% |
| Furniture and vehicles | 24 | €2,722 | €1,373 | -€1,349 | -49.6% |
| Current assets | 29/58 | €53,663 | €76,000 | +€22,337 | +41.6% |
| Stocks and contracts in progress | 3 | €48,204 | €48,204 | = | 0.0% |
| Stocks | 30/36 | €48,204 | €48,204 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €360 | €1,423 | +€1,064 | +296% |
| Trade receivables | 40 | €205 | €1,376 | +€1,171 | +572% |
| Other amounts receivable | 41 | €155 | €48 | -€107 | -69.3% |
| Cash at bank and in hand | 54/58 | €5,100 | €26,373 | +€21,274 | +417% |
| Total equity and liabilities | 10/49 | €173,553 | €164,492 | -€9,061 | -5.2% |
| Equity | 10/15 | €116,600 | €122,510 | +€5,909 | +5.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €106,455 | €112,455 | +€6,000 | +5.6% |
| Tax-exempt reserves | 132 | €32,455 | €32,455 | = | 0.0% |
| Distributable reserves | 133 | €74,000 | €80,000 | +€6,000 | +8.1% |
| Profit (loss) carried forward | 14 | €145 | €54 | -€91 | -62.5% |
| Amounts payable | 17/49 | €56,953 | €41,982 | -€14,971 | -26.3% |
| Amounts payable after more than one year | 17 | €29,924 | €18,235 | -€11,689 | -39.1% |
| Financial debts | 170/4 | €29,924 | €18,235 | -€11,689 | -39.1% |
| Amounts payable within one year | 42/48 | €27,029 | €22,240 | -€4,789 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €11,327 | €11,689 | +€361 | +3.2% |
| Trade debts | 44 | €6,510 | €728 | -€5,783 | -88.8% |
| Suppliers | 440/4 | €6,510 | €728 | -€5,783 | -88.8% |
| Taxes, remuneration and social security | 45 | €3,351 | €7,007 | +€3,656 | +109% |
| Taxes | 450/3 | €2,539 | €6,962 | +€4,423 | +174% |
| Remuneration and social security | 454/9 | €812 | €45 | -€767 | -94.5% |
| Other amounts payable | 47/48 | €5,841 | €2,817 | -€3,024 | -51.8% |
| Accrued charges and deferred income | 492/3 | - | €1,507 | +€1,507 | |
| Remuneration, social security and pensions | 62 | €1,258 | €7,098 | +€5,839 | +464% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,899 | €31,400 | -€3,499 | -10.0% |
| Other operating charges | 640/8 | €2,921 | €3,430 | +€508 | +17.4% |
| Gross operating margin | 9900 | €1,911 | €49,397 | +€47,486 | +2,485% |
| Operating profit (loss) | 9901 | -€37,167 | €7,470 | +€44,637 | |
| Financial income | 75/76B | €343 | €157 | -€186 | -54.3% |
| Recurring financial income | 75 | €343 | €157 | -€186 | -54.3% |
| Financial charges | 65/66B | €1,775 | €1,220 | -€556 | -31.3% |
| Recurring financial charges | 65 | €1,775 | €1,220 | -€556 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | -€38,599 | €6,407 | +€45,007 | |
| Income taxes | 67/77 | - | €498 | +€498 | |
| Profit (loss) for the period | 9904 | -€38,599 | €5,909 | +€44,509 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,599 | €5,909 | +€44,509 |
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 14 October 2026 via checked.be.