Start with WHY: 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.
Start with WHY
Largest movements
- Receivables within one year -€529
down €529 (-57.1%), from €926 to €397
of which Trade receivables: -€458
- Cash -€126
down €126 (-16.5%), from €764 to €638
mainly Trade debts (-€395) and Net result for the year (-€261)
- Trade debts -€395
down €395 (-45.1%), from €875 to €480
- Profit (loss) carried forward -€261
down €261 (-0.9%), from -€30,265 to -€30,525
- Gross operating margin -€43
down €43 (-217.9%), from -€20 to -€63
- Financial charges +€17
up €17 (+9.4%), from €180 to €197
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 | €1,690 | €1,035 | -€655 | -38.8% |
| Current assets | 29/58 | €1,690 | €1,035 | -€655 | -38.8% |
| Amounts receivable within one year | 40/41 | €926 | €397 | -€529 | -57.1% |
| Trade receivables | 40 | €855 | €397 | -€458 | -53.6% |
| Other amounts receivable | 41 | €71 | €0 | -€71 | -100.0% |
| Cash at bank and in hand | 54/58 | €764 | €638 | -€126 | -16.5% |
| Total equity and liabilities | 10/49 | €1,690 | €1,035 | -€655 | -38.8% |
| Equity | 10/15 | -€24,065 | -€24,325 | -€261 | -1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,265 | -€30,525 | -€261 | -0.9% |
| Amounts payable | 17/49 | €25,755 | €25,360 | -€395 | -1.5% |
| Amounts payable after more than one year | 17 | €24,565 | €24,565 | = | 0.0% |
| Other amounts payable | 178/9 | €24,565 | €24,565 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,190 | €795 | -€395 | -33.2% |
| Trade debts | 44 | €875 | €480 | -€395 | -45.1% |
| Suppliers | 440/4 | €875 | €480 | -€395 | -45.1% |
| Other amounts payable | 47/48 | €315 | €315 | = | 0.0% |
| Gross operating margin | 9900 | -€20 | -€63 | -€43 | -217.9% |
| Operating profit (loss) | 9901 | -€20 | -€63 | -€43 | -217.9% |
| Financial charges | 65/66B | €180 | €197 | +€17 | +9.4% |
| Recurring financial charges | 65 | €180 | €197 | +€17 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | -€200 | -€261 | -€60 | -30.2% |
| Profit (loss) for the period | 9904 | -€200 | -€261 | -€60 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€200 | -€261 | -€60 | -30.2% |
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 7 October 2026 via checked.be.