SO WE ARE: 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 WE ARE
Largest movements
- Receivables within one year -€7,620
down €7,620 (-78.0%), from €9,769 to €2,149
of which Other amounts receivable: -€9,183
- Tangible fixed assets -€5,480
down €5,480 (-25.5%), from €21,472 to €15,992
- Cash -€3,772
down €3,772 (-6.4%), from €58,626 to €54,854
mainly Net result for the year (-€12,185) and Contributions, distributions and other (-€10,000)
- Stocks and contracts -€2,734
down €2,734 (-16.2%), from €16,828 to €14,094
- Profit (loss) carried forward -€12,185
down €12,185 (-192%), from -€6,333 to -€18,519
- Reserves -€10,000
down €10,000 (-19.4%), from €51,500 to €41,500
- Tax, wage and social debts +€8,872
up €8,872 (+104%), from €8,505 to €17,378
- Other debts -€5,480
down €5,480 (-18.7%), from €29,379 to €23,900
- Gross operating margin -€2,205
down €2,205 (-67.9%), from -€3,247 to -€5,452
- Financial charges +€212
up €212 (+45.8%), from €463 to €675
- Taxes +€179
up €179, from €0 to €179
- Staff costs -€86
down €86 (-100%), from €86 to €0
- Other operating charges +€65
up €65 (+12.8%), from €510 to €575
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 | €106,954 | €87,412 | -€19,543 | -18.3% |
| Fixed assets | 21/28 | €21,472 | €15,992 | -€5,480 | -25.5% |
| Tangible fixed assets | 22/27 | €21,472 | €15,992 | -€5,480 | -25.5% |
| Plant, machinery and equipment | 23 | €2,895 | €1,975 | -€920 | -31.8% |
| Furniture and vehicles | 24 | €3,525 | €1,614 | -€1,911 | -54.2% |
| Other tangible fixed assets | 26 | €15,052 | €12,403 | -€2,650 | -17.6% |
| Current assets | 29/58 | €85,482 | €71,420 | -€14,063 | -16.5% |
| Stocks and contracts in progress | 3 | €16,828 | €14,094 | -€2,734 | -16.2% |
| Stocks | 30/36 | €16,828 | €14,094 | -€2,734 | -16.2% |
| Amounts receivable within one year | 40/41 | €9,769 | €2,149 | -€7,620 | -78.0% |
| Trade receivables | 40 | €534 | €2,097 | +€1,563 | +293% |
| Other amounts receivable | 41 | €9,236 | €53 | -€9,183 | -99.4% |
| Cash at bank and in hand | 54/58 | €58,626 | €54,854 | -€3,772 | -6.4% |
| Deferred charges and accrued income | 490/1 | €259 | €322 | +€63 | +24.2% |
| Total equity and liabilities | 10/49 | €106,954 | €87,412 | -€19,543 | -18.3% |
| Equity | 10/15 | €57,567 | €35,381 | -€22,185 | -38.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €51,500 | €41,500 | -€10,000 | -19.4% |
| Distributable reserves | 133 | €51,500 | €41,500 | -€10,000 | -19.4% |
| Profit (loss) carried forward | 14 | -€6,333 | -€18,519 | -€12,185 | -192% |
| Amounts payable | 17/49 | €49,388 | €52,030 | +€2,642 | +5.4% |
| Amounts payable after more than one year | 17 | €2,209 | €1,257 | -€952 | -43.1% |
| Financial debts | 170/4 | €2,209 | €1,257 | -€952 | -43.1% |
| Amounts payable within one year | 42/48 | €47,179 | €50,773 | +€3,594 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €907 | €952 | +€45 | +5.0% |
| Trade debts | 44 | €8,387 | €8,544 | +€156 | +1.9% |
| Suppliers | 440/4 | €8,387 | €8,544 | +€156 | +1.9% |
| Taxes, remuneration and social security | 45 | €8,505 | €17,378 | +€8,872 | +104% |
| Taxes | 450/3 | €8,505 | €17,378 | +€8,872 | +104% |
| Other amounts payable | 47/48 | €29,379 | €23,900 | -€5,480 | -18.7% |
| Remuneration, social security and pensions | 62 | €86 | €0 | -€86 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,480 | €5,480 | -€0 | 0.0% |
| Other operating charges | 640/8 | €510 | €575 | +€65 | +12.8% |
| Gross operating margin | 9900 | -€3,247 | -€5,452 | -€2,205 | -67.9% |
| Operating profit (loss) | 9901 | -€9,323 | -€11,507 | -€2,184 | -23.4% |
| Financial income | 75/76B | €176 | €176 | +€0 | +0.1% |
| Recurring financial income | 75 | €176 | €176 | +€0 | +0.1% |
| Financial charges | 65/66B | €463 | €675 | +€212 | +45.8% |
| Recurring financial charges | 65 | €463 | €675 | +€212 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,610 | -€12,006 | -€2,396 | -24.9% |
| Income taxes | 67/77 | €0 | €179 | +€179 | |
| Profit (loss) for the period | 9904 | -€9,610 | -€12,185 | -€2,575 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,610 | -€12,185 | -€2,575 | -26.8% |
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.