SOLUTION 3.0: 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.
SOLUTION 3.0
Largest movements
- Receivables within one year -€41,463
down €41,463 (-9.7%), from €426,226 to €384,762
of which Trade receivables: -€23,349
- Deferred charges and accrued income -€29,955
no longer reported in 2025 (was €29,955)
- Cash +€27,613
up €27,613 (+73.7%), from €37,476 to €65,089
mainly Accrued charges and deferred income (+€107,688) and Short-term financial debts (+€63,742)
- Profit (loss) carried forward -€240,925
down €240,925, from €29,914 to -€211,012
- Accrued charges and deferred income +€107,688
up €107,688 (+12,134%), from €888 to €108,575
- Short-term financial debts +€63,742
up €63,742 (+24.4%), from €261,258 to €325,000
of which Credit institutions: +€238,561
- Trade debts +€14,083
up €14,083 (+7.0%), from €202,543 to €216,627
- Tax, wage and social debts +€7,624
up €7,624 (+42.2%), from €18,047 to €25,671
of which Taxes: +€7,379
- Staff costs -€52,679
down €52,679 (-43.1%), from €122,352 to €69,673
- Other operating charges +€44,964
up €44,964 (+1,604%), from €2,803 to €47,767
- Gross operating margin -€34,066
down €34,066, from €25,614 to -€8,452
- Financial charges +€3,908
up €3,908 (+21.3%), from €18,335 to €22,243
- Write-downs +€2,039
up €2,039 (+35.6%), from €5,719 to €7,757
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 | €520,709 | €473,576 | -€47,134 | -9.1% |
| Fixed assets | 21/28 | €27,053 | €23,725 | -€3,328 | -12.3% |
| Tangible fixed assets | 22/27 | €12,985 | €10,007 | -€2,978 | -22.9% |
| Plant, machinery and equipment | 23 | €1,162 | €706 | -€456 | -39.3% |
| Furniture and vehicles | 24 | €11,823 | €9,301 | -€2,522 | -21.3% |
| Financial fixed assets | 28 | €14,068 | €13,718 | -€350 | -2.5% |
| Current assets | 29/58 | €493,656 | €449,851 | -€43,805 | -8.9% |
| Amounts receivable within one year | 40/41 | €426,226 | €384,762 | -€41,463 | -9.7% |
| Trade receivables | 40 | €406,799 | €383,451 | -€23,349 | -5.7% |
| Other amounts receivable | 41 | €19,427 | €1,312 | -€18,115 | -93.2% |
| Cash at bank and in hand | 54/58 | €37,476 | €65,089 | +€27,613 | +73.7% |
| Deferred charges and accrued income | 490/1 | €29,955 | - | -€29,955 | |
| Total equity and liabilities | 10/49 | €520,709 | €473,576 | -€47,134 | -9.1% |
| Equity | 10/15 | €37,974 | -€202,952 | -€240,925 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €29,914 | -€211,012 | -€240,925 | |
| Amounts payable | 17/49 | €482,736 | €676,527 | +€193,791 | +40.1% |
| Amounts payable within one year | 42/48 | €481,848 | €567,952 | +€86,104 | +17.9% |
| Financial debts | 43 | €261,258 | €325,000 | +€63,742 | +24.4% |
| Credit institutions | 430/8 | €86,439 | €325,000 | +€238,561 | +276% |
| Other loans | 439 | €174,820 | - | -€174,820 | |
| Trade debts | 44 | €202,543 | €216,627 | +€14,083 | +7.0% |
| Suppliers | 440/4 | €202,543 | €216,627 | +€14,083 | +7.0% |
| Taxes, remuneration and social security | 45 | €18,047 | €25,671 | +€7,624 | +42.2% |
| Taxes | 450/3 | €9,967 | €17,347 | +€7,379 | +74.0% |
| Remuneration and social security | 454/9 | €8,079 | €8,324 | +€245 | +3.0% |
| Other amounts payable | 47/48 | - | €654 | +€654 | |
| Accrued charges and deferred income | 492/3 | €888 | €108,575 | +€107,688 | +12,134% |
| Non-recurring operating income | 76A | €20,340 | - | -€20,340 | |
| Remuneration, social security and pensions | 62 | €122,352 | €69,673 | -€52,679 | -43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,820 | €2,978 | +€158 | +5.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,719 | €7,757 | +€2,039 | +35.6% |
| Other operating charges | 640/8 | €2,803 | €47,767 | +€44,964 | +1,604% |
| Non-recurring operating charges | 66A | - | €83,679 | +€83,679 | |
| Gross operating margin | 9900 | €25,614 | -€8,452 | -€34,066 | |
| Operating profit (loss) | 9901 | -€108,079 | -€220,307 | -€112,227 | -104% |
| Financial income | 75/76B | €436 | €1,635 | +€1,199 | +275% |
| Recurring financial income | 75 | €436 | €1,635 | +€1,199 | +275% |
| Financial charges | 65/66B | €18,335 | €22,243 | +€3,908 | +21.3% |
| Recurring financial charges | 65 | €18,335 | €22,243 | +€3,908 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | -€125,978 | -€240,915 | -€114,937 | -91.2% |
| Income taxes | 67/77 | €164 | €10 | -€154 | -93.7% |
| Profit (loss) for the period | 9904 | -€126,142 | -€240,925 | -€114,783 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€126,142 | -€240,925 | -€114,783 | -91.0% |
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 15 October 2026 via checked.be.