STARTING LINE: 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.
STARTING LINE
Largest movements
- Receivables within one year +€24,185
up €24,185 (+148.1%), from €16,328 to €40,514
of which Trade receivables: +€24,414
- Cash -€3,399
down €3,399 (-57.8%), from €5,885 to €2,486
mainly Trade debts (-€36,882) and Receivables within one year (-€24,185)
- Trade debts -€36,882
down €36,882 (-48.2%), from €76,569 to €39,687
- Other debts +€28,434
up €28,434 (+73.2%), from €38,865 to €67,299
- Profit (loss) carried forward +€14,776
up €14,776 (+13.2%), from -€112,305 to -€97,529
- Advances received +€14,458
up €14,458 (+2987.2%), from €484 to €14,942
- Gross operating margin +€38,709
up €38,709, from -€23,869 to €14,840
- Financial charges -€1,508
down €1,508 (-93.7%), from €1,609 to €101
- Financial income -€1,484
down €1,484 (-97.5%), from €1,522 to €38
- Other operating charges -€775
no longer reported in 2025 (was €775)
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 | €22,213 | €42,999 | +€20,786 | +93.6% |
| Current assets | 29/58 | €22,213 | €42,999 | +€20,786 | +93.6% |
| Amounts receivable within one year | 40/41 | €16,328 | €40,514 | +€24,185 | +148.1% |
| Trade receivables | 40 | €15,886 | €40,300 | +€24,414 | +153.7% |
| Other amounts receivable | 41 | €442 | €214 | -€228 | -51.7% |
| Cash at bank and in hand | 54/58 | €5,885 | €2,486 | -€3,399 | -57.8% |
| Total equity and liabilities | 10/49 | €22,213 | €42,999 | +€20,786 | +93.6% |
| Equity | 10/15 | -€93,705 | -€78,929 | +€14,776 | +15.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,305 | -€97,529 | +€14,776 | +13.2% |
| Amounts payable | 17/49 | €115,918 | €121,928 | +€6,010 | +5.2% |
| Amounts payable within one year | 42/48 | €115,918 | €121,928 | +€6,010 | +5.2% |
| Trade debts | 44 | €76,569 | €39,687 | -€36,882 | -48.2% |
| Suppliers | 440/4 | €76,569 | €39,687 | -€36,882 | -48.2% |
| Advances received on contracts in progress | 46 | €484 | €14,942 | +€14,458 | +2987.2% |
| Other amounts payable | 47/48 | €38,865 | €67,299 | +€28,434 | +73.2% |
| Other operating charges | 640/8 | €775 | - | -€775 | |
| Non-recurring operating charges | 66A | €37,338 | - | -€37,338 | |
| Gross operating margin | 9900 | -€23,869 | €14,840 | +€38,709 | |
| Operating profit (loss) | 9901 | -€61,982 | €14,840 | +€76,822 | |
| Financial income | 75/76B | €1,522 | €38 | -€1,484 | -97.5% |
| Recurring financial income | 75 | €1,522 | €38 | -€1,484 | -97.5% |
| Financial charges | 65/66B | €1,609 | €101 | -€1,508 | -93.7% |
| Recurring financial charges | 65 | €1,609 | €101 | -€1,508 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | -€62,069 | €14,776 | +€76,846 | |
| Profit (loss) for the period | 9904 | -€62,069 | €14,776 | +€76,846 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,069 | €14,776 | +€76,846 |
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 12 October 2026 via checked.be.