SOLVENCY: 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.
SOLVENCY
Largest movements
- Cash +€66,645
up €66,645 (+385.6%), from €17,286 to €83,930
mainly Trade debts (+€62,945) and Depreciation (+€25,239)
- Intangible fixed assets -€8,757
down €8,757 (-16.8%), from €52,027 to €43,270
- Receivables within one year -€5,131
down €5,131 (-45.1%), from €11,387 to €6,256
of which Trade receivables: -€4,706
- Tangible fixed assets -€1,906
down €1,906 (-43.4%), from €4,389 to €2,483
of which Furniture and vehicles: -€1,791
- Trade debts +€62,945
up €62,945 (+97.7%), from €64,434 to €127,379
- Debts after one year -€8,293
down €8,293 (-5.0%), from €165,963 to €157,670
- Tax, wage and social debts -€3,538
down €3,538 (-15.2%), from €23,312 to €19,774
of which Remuneration and social security: -€4,973
- Profit (loss) carried forward +€1,936
up €1,936 (+1.0%), from -€191,494 to -€189,558
- Gross operating margin -€9,927
down €9,927 (-6.2%), from €159,327 to €149,400
- Staff costs -€3,448
down €3,448 (-2.6%), from €132,372 to €128,924
- Financial income +€2,997
up €2,997 (+33.0%), from €9,068 to €12,065
- Financial charges -€1,912
down €1,912 (-30.2%), from €6,341 to €4,429
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 | €89,325 | €140,898 | +€51,572 | +57.7% |
| Fixed assets | 21/28 | €56,416 | €46,753 | -€9,663 | -17.1% |
| Intangible fixed assets | 21 | €52,027 | €43,270 | -€8,757 | -16.8% |
| Tangible fixed assets | 22/27 | €4,389 | €2,483 | -€1,906 | -43.4% |
| Furniture and vehicles | 24 | €3,281 | €1,490 | -€1,791 | -54.6% |
| Other tangible fixed assets | 26 | €1,108 | €993 | -€115 | -10.4% |
| Financial fixed assets | 28 | €0 | €1,000 | +€1,000 | |
| Current assets | 29/58 | €32,910 | €94,145 | +€61,235 | +186.1% |
| Amounts receivable within one year | 40/41 | €11,387 | €6,256 | -€5,131 | -45.1% |
| Trade receivables | 40 | €10,714 | €6,008 | -€4,706 | -43.9% |
| Other amounts receivable | 41 | €674 | €249 | -€425 | -63.1% |
| Cash at bank and in hand | 54/58 | €17,286 | €83,930 | +€66,645 | +385.6% |
| Deferred charges and accrued income | 490/1 | €4,237 | €3,959 | -€278 | -6.6% |
| Total equity and liabilities | 10/49 | €89,325 | €140,898 | +€51,572 | +57.7% |
| Equity | 10/15 | -€172,894 | -€170,958 | +€1,936 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€191,494 | -€189,558 | +€1,936 | +1.0% |
| Amounts payable | 17/49 | €262,219 | €311,856 | +€49,637 | +18.9% |
| Amounts payable after more than one year | 17 | €165,963 | €157,670 | -€8,293 | -5.0% |
| Financial debts | 170/4 | €165,963 | €157,670 | -€8,293 | -5.0% |
| Amounts payable within one year | 42/48 | €96,007 | €153,943 | +€57,936 | +60.3% |
| Current portion of amounts payable after more than one year | 42 | €5,252 | €5,373 | +€121 | +2.3% |
| Financial debts | 43 | €220 | €0 | -€220 | -100.0% |
| Credit institutions | 430/8 | €220 | €0 | -€220 | -100.0% |
| Trade debts | 44 | €64,434 | €127,379 | +€62,945 | +97.7% |
| Suppliers | 440/4 | €64,434 | €127,379 | +€62,945 | +97.7% |
| Taxes, remuneration and social security | 45 | €23,312 | €19,774 | -€3,538 | -15.2% |
| Taxes | 450/3 | €6,040 | €7,475 | +€1,435 | +23.8% |
| Remuneration and social security | 454/9 | €17,272 | €12,300 | -€4,973 | -28.8% |
| Other amounts payable | 47/48 | €2,789 | €1,417 | -€1,372 | -49.2% |
| Accrued charges and deferred income | 492/3 | €250 | €243 | -€7 | -2.9% |
| Remuneration, social security and pensions | 62 | €132,372 | €128,924 | -€3,448 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,659 | €25,239 | +€1,580 | +6.7% |
| Other operating charges | 640/8 | €1,475 | €553 | -€922 | -62.5% |
| Gross operating margin | 9900 | €159,327 | €149,400 | -€9,927 | -6.2% |
| Operating profit (loss) | 9901 | €1,821 | -€5,316 | -€7,137 | |
| Financial income | 75/76B | €9,068 | €12,065 | +€2,997 | +33.0% |
| Recurring financial income | 75 | €9,068 | €12,065 | +€2,997 | +33.0% |
| Financial charges | 65/66B | €6,341 | €4,429 | -€1,912 | -30.2% |
| Recurring financial charges | 65 | €6,341 | €4,429 | -€1,912 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | €4,548 | €2,320 | -€2,228 | -49.0% |
| Income taxes | 67/77 | €251 | €384 | +€133 | +52.9% |
| Profit (loss) for the period | 9904 | €4,297 | €1,936 | -€2,361 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,297 | €1,936 | -€2,361 | -55.0% |
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 4 October 2026 via checked.be.