Start2Finish: 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.
Start2Finish
Largest movements
- Receivables within one year -€26,666
down €26,666 (-85.5%), from €31,202 to €4,536
of which Trade receivables: -€30,249
- Cash +€11,160
new in 2025: €11,160
mainly Receivables within one year (+€26,666) and Contributions, distributions and other (+€6,174)
- Deferred charges and accrued income -€3,610
down €3,610 (-71.9%), from €5,023 to €1,413
- Tangible fixed assets +€2,505
up €2,505 (+3.1%), from €80,129 to €82,633
of which Furniture and vehicles: +€2,904
- Profit (loss) carried forward -€5,411
down €5,411 (-13.9%), from €39,060 to €33,649
- Debts after one year -€4,795
down €4,795 (-13.4%), from €35,868 to €31,073
- Other debts -€3,721
down €3,721 (-27.4%), from €13,572 to €9,852
- Trade debts -€2,285
down €2,285 (-69.8%), from €3,275 to €990
- Gross operating margin -€13,907
down €13,907, from €5,937 to -€7,970
- Other operating charges +€594
up €594 (+91.4%), from €650 to €1,245
- Taxes -€591
no longer reported in 2025 (was €591)
- Financial charges -€293
down €293 (-17.1%), from €1,714 to €1,420
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 | €116,353 | €99,743 | -€16,611 | -14.3% |
| Fixed assets | 21/28 | €80,129 | €82,633 | +€2,505 | +3.1% |
| Tangible fixed assets | 22/27 | €80,129 | €82,633 | +€2,505 | +3.1% |
| Land and buildings | 22 | €77,500 | €77,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €967 | €568 | -€399 | -41.3% |
| Furniture and vehicles | 24 | €1,661 | €4,565 | +€2,904 | +175% |
| Current assets | 29/58 | €36,225 | €17,109 | -€19,116 | -52.8% |
| Amounts receivable within one year | 40/41 | €31,202 | €4,536 | -€26,666 | -85.5% |
| Trade receivables | 40 | €30,865 | €616 | -€30,249 | -98.0% |
| Other amounts receivable | 41 | €337 | €3,920 | +€3,582 | +1,063% |
| Cash at bank and in hand | 54/58 | - | €11,160 | +€11,160 | |
| Deferred charges and accrued income | 490/1 | €5,023 | €1,413 | -€3,610 | -71.9% |
| Total equity and liabilities | 10/49 | €116,353 | €99,743 | -€16,611 | -14.3% |
| Equity | 10/15 | €57,854 | €52,443 | -€5,411 | -9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194 | €194 | = | 0.0% |
| Distributable reserves | 133 | €194 | €194 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,060 | €33,649 | -€5,411 | -13.9% |
| Amounts payable | 17/49 | €58,500 | €47,300 | -€11,200 | -19.1% |
| Amounts payable after more than one year | 17 | €35,868 | €31,073 | -€4,795 | -13.4% |
| Financial debts | 170/4 | €35,868 | €31,073 | -€4,795 | -13.4% |
| Amounts payable within one year | 42/48 | €22,632 | €16,227 | -€6,405 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €4,651 | €4,795 | +€144 | +3.1% |
| Financial debts | 43 | €543 | - | -€543 | |
| Credit institutions | 430/8 | €543 | - | -€543 | |
| Trade debts | 44 | €3,275 | €990 | -€2,285 | -69.8% |
| Suppliers | 440/4 | €3,275 | €990 | -€2,285 | -69.8% |
| Taxes, remuneration and social security | 45 | €591 | €591 | = | 0.0% |
| Taxes | 450/3 | €591 | €591 | = | 0.0% |
| Other amounts payable | 47/48 | €13,572 | €9,852 | -€3,721 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €950 | +€54 | +6.0% |
| Other operating charges | 640/8 | €650 | €1,245 | +€594 | +91.4% |
| Gross operating margin | 9900 | €5,937 | -€7,970 | -€13,907 | |
| Operating profit (loss) | 9901 | €4,391 | -€10,165 | -€14,555 | |
| Financial income | 75/76B | €27 | - | -€27 | |
| Recurring financial income | 75 | €27 | - | -€27 | |
| Financial charges | 65/66B | €1,714 | €1,420 | -€293 | -17.1% |
| Recurring financial charges | 65 | €1,714 | €1,420 | -€293 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €2,704 | -€11,585 | -€14,289 | |
| Income taxes | 67/77 | €591 | - | -€591 | |
| Profit (loss) for the period | 9904 | €2,113 | -€11,585 | -€13,698 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,113 | -€11,585 | -€13,698 |
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 16 October 2026 via checked.be.