STEVE DUQUESNES: 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.
STEVE DUQUESNES
Largest movements
- Tangible fixed assets -€16,562
down €16,562 (-93.8%), from €17,661 to €1,100
of which Furniture and vehicles: -€16,030
- Receivables within one year +€5,180
up €5,180 (+235.9%), from €2,196 to €7,376
of which Trade receivables: +€5,160
- Cash +€3,188
up €3,188 (+459.0%), from €695 to €3,882
mainly Investment in fixed assets (net) (+€15,888) and Net result for the year (+€11,504)
- Intangible fixed assets -€3,000
down €3,000 (-42.9%), from €6,986 to €3,986
- Debts after one year -€13,152
no longer reported in 2025 (was €13,152)
- Trade debts -€12,850
down €12,850 (-74.3%), from €17,297 to €4,448
- Current portion of long-term debt -€12,502
no longer reported in 2025 (was €12,502)
- Profit (loss) carried forward +€11,504
up €11,504 (+15.2%), from -€75,467 to -€63,963
- Other debts +€11,021
up €11,021 (+23.0%), from €47,856 to €58,877
- Gross operating margin +€25,513
up €25,513, from -€6,876 to €18,637
- Depreciation -€6,041
down €6,041 (-62.2%), from €9,715 to €3,674
- Other operating charges -€4,712
down €4,712 (-71.6%), from €6,585 to €1,873
- Staff costs -€743
no longer reported in 2025 (was €743)
- Financial charges -€603
down €603 (-27.5%), from €2,193 to €1,590
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 | €27,538 | €16,344 | -€11,194 | -40.6% |
| Fixed assets | 21/28 | €24,648 | €5,086 | -€19,562 | -79.4% |
| Intangible fixed assets | 21 | €6,986 | €3,986 | -€3,000 | -42.9% |
| Tangible fixed assets | 22/27 | €17,661 | €1,100 | -€16,562 | -93.8% |
| Plant, machinery and equipment | 23 | €1,347 | €816 | -€531 | -39.4% |
| Furniture and vehicles | 24 | €16,314 | €284 | -€16,030 | -98.3% |
| Current assets | 29/58 | €2,890 | €11,258 | +€8,368 | +289.5% |
| Amounts receivable within one year | 40/41 | €2,196 | €7,376 | +€5,180 | +235.9% |
| Trade receivables | 40 | €1,314 | €6,474 | +€5,160 | +392.8% |
| Other amounts receivable | 41 | €882 | €902 | +€20 | +2.3% |
| Cash at bank and in hand | 54/58 | €695 | €3,882 | +€3,188 | +459.0% |
| Total equity and liabilities | 10/49 | €27,538 | €16,344 | -€11,194 | -40.6% |
| Equity | 10/15 | -€65,467 | -€53,963 | +€11,504 | +17.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,467 | -€63,963 | +€11,504 | +15.2% |
| Amounts payable | 17/49 | €93,005 | €70,307 | -€22,698 | -24.4% |
| Amounts payable after more than one year | 17 | €13,152 | - | -€13,152 | |
| Financial debts | 170/4 | €13,152 | - | -€13,152 | |
| Amounts payable within one year | 42/48 | €79,852 | €70,307 | -€9,545 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €12,502 | - | -€12,502 | |
| Trade debts | 44 | €17,297 | €4,448 | -€12,850 | -74.3% |
| Suppliers | 440/4 | €17,297 | €4,448 | -€12,850 | -74.3% |
| Taxes, remuneration and social security | 45 | €2,197 | €6,983 | +€4,786 | +217.9% |
| Taxes | 450/3 | €1,220 | €6,983 | +€5,763 | +472.5% |
| Remuneration and social security | 454/9 | €977 | - | -€977 | |
| Other amounts payable | 47/48 | €47,856 | €58,877 | +€11,021 | +23.0% |
| Non-recurring operating income | 76A | - | €3,797 | +€3,797 | |
| Remuneration, social security and pensions | 62 | €743 | - | -€743 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,715 | €3,674 | -€6,041 | -62.2% |
| Other operating charges | 640/8 | €6,585 | €1,873 | -€4,712 | -71.6% |
| Non-recurring operating charges | 66A | €350 | - | -€350 | |
| Gross operating margin | 9900 | -€6,876 | €18,637 | +€25,513 | |
| Operating profit (loss) | 9901 | -€24,270 | €13,090 | +€37,360 | |
| Financial income | 75/76B | €3 | €4 | +€1 | +26.8% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +26.8% |
| Financial charges | 65/66B | €2,193 | €1,590 | -€603 | -27.5% |
| Recurring financial charges | 65 | €2,193 | €1,590 | -€603 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,460 | €11,504 | +€37,964 | |
| Profit (loss) for the period | 9904 | -€26,460 | €11,504 | +€37,964 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,460 | €11,504 | +€37,964 |
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 10 October 2026 via checked.be.