SOLE MANAGEMENT: 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.
SOLE MANAGEMENT
Largest movements
- Receivables within one year -€19,808
down €19,808 (-95.4%), from €20,768 to €960
of which Trade receivables: -€19,997
- Cash -€17,036
down €17,036 (-92.7%), from €18,382 to €1,346
mainly Other debts (-€18,282) and Trade debts (-€10,533)
- Tangible fixed assets -€5,939
down €5,939 (-49.0%), from €12,123 to €6,184
- Other debts -€18,282
down €18,282 (-52.3%), from €34,951 to €16,669
- Trade debts -€10,533
down €10,533 (-99.4%), from €10,597 to €64
- Profit (loss) carried forward -€8,109
down €8,109 (-13.6%), from -€59,509 to -€67,617
- Debts after one year -€5,230
down €5,230 (-92.1%), from €5,677 to €448
- Tax, wage and social debts -€1,004
down €1,004 (-68.4%), from €1,468 to €464
- Gross operating margin -€26,871
down €26,871 (-95.4%), from €28,163 to €1,293
- Financial charges -€7,861
down €7,861 (-67.2%), from €11,700 to €3,839
of which Financial charges: -€10,982
- Other operating charges -€1,136
down €1,136 (-70.2%), from €1,619 to €483
- Financial income +€1,022
new in 2025: €1,022
of which Financial income: +€1,022
- Depreciation +€356
up €356 (+6.4%), from €5,583 to €5,939
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 | €51,393 | €8,490 | -€42,903 | -83.5% |
| Fixed assets | 21/28 | €12,123 | €6,184 | -€5,939 | -49.0% |
| Tangible fixed assets | 22/27 | €12,123 | €6,184 | -€5,939 | -49.0% |
| Furniture and vehicles | 24 | €12,123 | €6,184 | -€5,939 | -49.0% |
| Current assets | 29/58 | €39,270 | €2,306 | -€36,964 | -94.1% |
| Amounts receivable within one year | 40/41 | €20,768 | €960 | -€19,808 | -95.4% |
| Trade receivables | 40 | €20,736 | €740 | -€19,997 | -96.4% |
| Other amounts receivable | 41 | €31 | €220 | +€188 | +599.9% |
| Cash at bank and in hand | 54/58 | €18,382 | €1,346 | -€17,036 | -92.7% |
| Deferred charges and accrued income | 490/1 | €120 | - | -€120 | |
| Total equity and liabilities | 10/49 | €51,393 | €8,490 | -€42,903 | -83.5% |
| Equity | 10/15 | -€6,276 | -€14,385 | -€8,109 | -129.2% |
| Contributions | 10/11 | €53,000 | €53,000 | = | 0.0% |
| Reserves | 13 | €233 | €233 | = | 0.0% |
| Distributable reserves | 133 | €233 | €233 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,509 | -€67,617 | -€8,109 | -13.6% |
| Amounts payable | 17/49 | €57,669 | €22,874 | -€34,794 | -60.3% |
| Amounts payable after more than one year | 17 | €5,677 | €448 | -€5,230 | -92.1% |
| Financial debts | 170/4 | €5,677 | €448 | -€5,230 | -92.1% |
| Amounts payable within one year | 42/48 | €51,991 | €22,427 | -€29,565 | -56.9% |
| Current portion of amounts payable after more than one year | 42 | €4,975 | €5,230 | +€254 | +5.1% |
| Trade debts | 44 | €10,597 | €64 | -€10,533 | -99.4% |
| Suppliers | 440/4 | €10,597 | €64 | -€10,533 | -99.4% |
| Taxes, remuneration and social security | 45 | €1,468 | €464 | -€1,004 | -68.4% |
| Taxes | 450/3 | €1,468 | €464 | -€1,004 | -68.4% |
| Other amounts payable | 47/48 | €34,951 | €16,669 | -€18,282 | -52.3% |
| Non-recurring operating income | 76A | €21,011 | - | -€21,011 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,583 | €5,939 | +€356 | +6.4% |
| Other operating charges | 640/8 | €1,619 | €483 | -€1,136 | -70.2% |
| Gross operating margin | 9900 | €28,163 | €1,293 | -€26,871 | -95.4% |
| Operating profit (loss) | 9901 | €20,961 | -€5,129 | -€26,091 | |
| Financial income | 75/76B | - | €1,022 | +€1,022 | |
| Recurring financial income | 75 | - | €1,022 | +€1,022 | |
| Non-recurring financial income | 76B | - | €1,022 | +€1,022 | |
| Financial charges | 65/66B | €11,700 | €3,839 | -€7,861 | -67.2% |
| Recurring financial charges | 65 | €11,700 | €718 | -€10,982 | -93.9% |
| Non-recurring financial charges | 66B | - | €3,121 | +€3,121 | |
| Profit (loss) for the period before taxes | 9903 | €9,261 | -€7,947 | -€17,208 | |
| Income taxes | 67/77 | €152 | €162 | +€10 | +6.6% |
| Profit (loss) for the period | 9904 | €9,109 | -€8,109 | -€17,218 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,109 | -€8,109 | -€17,218 |
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 6 October 2026 via checked.be.