squarebrackets: 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.
squarebrackets
Largest movements
- Tangible fixed assets -€19,595
down €19,595 (-64.4%), from €30,407 to €10,812
- Cash -€12,300
down €12,300 (-95.7%), from €12,851 to €551
mainly Contributions, distributions and other (-€38,000) and Tax, wage and social debts (-€31,244)
- Receivables after one year -€673
down €673 (-3.5%), from €19,079 to €18,406
of which Trade receivables: -€1,048
- Tax, wage and social debts -€31,244
down €31,244 (-74.2%), from €42,103 to €10,860
- Debts after one year -€19,040
no longer reported in 2025 (was €19,040)
- Profit (loss) carried forward +€9,860
up €9,860 (+38,260%), from €26 to €9,885
- Short-term financial debts +€7,704
new in 2025: €7,704
- Gross operating margin -€13,708
down €13,708 (-14.4%), from €95,370 to €81,662
- Financial income -€3,457
down €3,457 (-92.0%), from €3,757 to €300
of which Financial income: -€3,457
- Taxes -€3,421
down €3,421 (-20.6%), from €16,573 to €13,152
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 | €62,337 | €29,769 | -€32,568 | -52.2% |
| Fixed assets | 21/28 | €30,407 | €10,812 | -€19,595 | -64.4% |
| Tangible fixed assets | 22/27 | €30,407 | €10,812 | -€19,595 | -64.4% |
| Furniture and vehicles | 24 | €30,407 | €10,812 | -€19,595 | -64.4% |
| Current assets | 29/58 | €31,930 | €18,957 | -€12,973 | -40.6% |
| Amounts receivable after more than one year | 29 | €19,079 | €18,406 | -€673 | -3.5% |
| Trade receivables | 290 | €18,822 | €17,773 | -€1,048 | -5.6% |
| Other amounts receivable | 291 | €258 | €633 | +€375 | +145% |
| Cash at bank and in hand | 54/58 | €12,851 | €551 | -€12,300 | -95.7% |
| Total equity and liabilities | 10/49 | €62,337 | €29,769 | -€32,568 | -52.2% |
| Equity | 10/15 | €1,026 | €10,885 | +€9,860 | +961% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26 | €9,885 | +€9,860 | +38,260% |
| Amounts payable | 17/49 | €61,311 | €18,884 | -€42,428 | -69.2% |
| Amounts payable after more than one year | 17 | €19,040 | - | -€19,040 | |
| Financial debts | 170/4 | €19,040 | - | -€19,040 | |
| Amounts payable within one year | 42/48 | €42,271 | €18,884 | -€23,388 | -55.3% |
| Financial debts | 43 | - | €7,704 | +€7,704 | |
| Credit institutions | 430/8 | - | €7,704 | +€7,704 | |
| Trade debts | 44 | €168 | €320 | +€152 | +90.7% |
| Suppliers | 440/4 | €168 | €320 | +€152 | +90.7% |
| Taxes, remuneration and social security | 45 | €42,103 | €10,860 | -€31,244 | -74.2% |
| Taxes | 450/3 | €42,103 | €10,860 | -€31,244 | -74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,850 | €19,896 | +€45 | +0.2% |
| Other operating charges | 640/8 | €505 | €644 | +€138 | +27.4% |
| Gross operating margin | 9900 | €95,370 | €81,662 | -€13,708 | -14.4% |
| Operating profit (loss) | 9901 | €75,014 | €61,123 | -€13,892 | -18.5% |
| Financial income | 75/76B | €3,757 | €300 | -€3,457 | -92.0% |
| Recurring financial income | 75 | €3,757 | €300 | -€3,457 | -92.0% |
| Non-recurring financial income | 76B | €3,757 | €300 | -€3,457 | -92.0% |
| Financial charges | 65/66B | €860 | €411 | -€449 | -52.2% |
| Recurring financial charges | 65 | €860 | €411 | -€449 | -52.2% |
| Non-recurring financial charges | 66B | €860 | €411 | -€449 | -52.2% |
| Profit (loss) for the period before taxes | 9903 | €77,912 | €61,012 | -€16,900 | -21.7% |
| Income taxes | 67/77 | €16,573 | €13,152 | -€3,421 | -20.6% |
| Profit (loss) for the period | 9904 | €61,339 | €47,860 | -€13,479 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,339 | €47,860 | -€13,479 | -22.0% |
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 13 October 2026 via checked.be.