STEVE PRINZIE: 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 PRINZIE
Largest movements
- Cash -€34,909
down €34,909 (-90.7%), from €38,501 to €3,592
mainly Receivables within one year (-€23,349) and Trade debts (-€11,625)
- Receivables within one year +€23,349
up €23,349 (+20.8%), from €112,234 to €135,583
of which Other amounts receivable: +€33,534
- Tangible fixed assets -€15,287
down €15,287 (-58.0%), from €26,357 to €11,070
of which Furniture and vehicles: -€13,448
- Trade debts -€11,625
down €11,625 (-96.7%), from €12,017 to €392
- Profit (loss) carried forward -€7,514
down €7,514 (-4.8%), from €157,462 to €149,948
- Tax, wage and social debts -€4,078
down €4,078 (-43.7%), from €9,342 to €5,264
of which Taxes: -€3,271
- Other debts -€2,434
down €2,434 (-13.1%), from €18,615 to €16,182
- Depreciation -€8,596
down €8,596 (-43.9%), from €19,581 to €10,985
- Taxes +€7,208
new in 2025: €7,208
- Other operating charges +€1,577
up €1,577 (+98.4%), from €1,602 to €3,179
- Gross operating margin -€1,474
down €1,474 (-9.1%), from €16,262 to €14,788
- Financial charges +€269
up €269 (+34.9%), from €771 to €1,040
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 | €217,896 | €192,245 | -€25,651 | -11.8% |
| Fixed assets | 21/28 | €26,357 | €11,070 | -€15,287 | -58.0% |
| Tangible fixed assets | 22/27 | €26,357 | €11,070 | -€15,287 | -58.0% |
| Plant, machinery and equipment | 23 | €7,993 | €7,383 | -€610 | -7.6% |
| Furniture and vehicles | 24 | €13,448 | - | -€13,448 | |
| Other tangible fixed assets | 26 | €4,915 | €3,686 | -€1,229 | -25.0% |
| Current assets | 29/58 | €191,540 | €181,176 | -€10,364 | -5.4% |
| Stocks and contracts in progress | 3 | €40,160 | €40,838 | +€677 | +1.7% |
| Stocks | 30/36 | €40,160 | €40,838 | +€677 | +1.7% |
| Amounts receivable within one year | 40/41 | €112,234 | €135,583 | +€23,349 | +20.8% |
| Trade receivables | 40 | €94,439 | €84,254 | -€10,185 | -10.8% |
| Other amounts receivable | 41 | €17,795 | €51,329 | +€33,534 | +188% |
| Cash at bank and in hand | 54/58 | €38,501 | €3,592 | -€34,909 | -90.7% |
| Deferred charges and accrued income | 490/1 | €645 | €1,163 | +€519 | +80.5% |
| Total equity and liabilities | 10/49 | €217,896 | €192,245 | -€25,651 | -11.8% |
| Equity | 10/15 | €177,922 | €170,408 | -€7,514 | -4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,462 | €149,948 | -€7,514 | -4.8% |
| Amounts payable | 17/49 | €39,974 | €21,838 | -€18,136 | -45.4% |
| Amounts payable within one year | 42/48 | €39,974 | €21,838 | -€18,136 | -45.4% |
| Trade debts | 44 | €12,017 | €392 | -€11,625 | -96.7% |
| Suppliers | 440/4 | €12,017 | €392 | -€11,625 | -96.7% |
| Taxes, remuneration and social security | 45 | €9,342 | €5,264 | -€4,078 | -43.7% |
| Taxes | 450/3 | €7,090 | €3,819 | -€3,271 | -46.1% |
| Remuneration and social security | 454/9 | €2,252 | €1,445 | -€808 | -35.9% |
| Other amounts payable | 47/48 | €18,615 | €16,182 | -€2,434 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,581 | €10,985 | -€8,596 | -43.9% |
| Other operating charges | 640/8 | €1,602 | €3,179 | +€1,577 | +98.4% |
| Gross operating margin | 9900 | €16,262 | €14,788 | -€1,474 | -9.1% |
| Operating profit (loss) | 9901 | -€4,921 | €625 | +€5,545 | |
| Financial income | 75/76B | €196 | €109 | -€87 | -44.2% |
| Recurring financial income | 75 | €196 | €109 | -€87 | -44.2% |
| Financial charges | 65/66B | €771 | €1,040 | +€269 | +34.9% |
| Recurring financial charges | 65 | €771 | €1,040 | +€269 | +34.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,496 | -€306 | +€5,190 | +94.4% |
| Income taxes | 67/77 | - | €7,208 | +€7,208 | |
| Profit (loss) for the period | 9904 | -€5,496 | -€7,514 | -€2,018 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,496 | -€7,514 | -€2,018 | -36.7% |
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 27 October 2026 via checked.be.