STRATEGY DD: 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.
STRATEGY DD
Largest movements
- Receivables within one year -€26,905
down €26,905 (-41.4%), from €65,032 to €38,127
of which Trade receivables: -€24,078
- Cash -€18,856
down €18,856 (-30.9%), from €61,019 to €42,162
mainly Contributions, distributions and other (-€59,860) and Other debts (-€5,140)
- Profit (loss) carried forward -€23,171
down €23,171 (-100%), from €23,171 to €0
- Reserves -€15,502
down €15,502 (-100%), from €15,502 to €0
- Other debts -€5,140
down €5,140 (-7.9%), from €65,000 to €59,860
- Tax, wage and social debts -€2,545
down €2,545 (-14.4%), from €17,720 to €15,175
- Gross operating margin -€9,899
down €9,899 (-25.1%), from €39,477 to €29,578
- Taxes -€1,667
down €1,667 (-19.4%), from €8,582 to €6,915
- Other operating charges -€539
down €539 (-53.2%), from €1,014 to €475
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 | €128,663 | €81,682 | -€46,981 | -36.5% |
| Fixed assets | 21/28 | €2,431 | €1,164 | -€1,268 | -52.1% |
| Tangible fixed assets | 22/27 | €1,906 | €1,139 | -€768 | -40.3% |
| Plant, machinery and equipment | 23 | €189 | €0 | -€189 | -100% |
| Furniture and vehicles | 24 | €1,717 | €1,139 | -€579 | -33.7% |
| Financial fixed assets | 28 | €525 | €25 | -€500 | -95.2% |
| Current assets | 29/58 | €126,231 | €80,518 | -€45,713 | -36.2% |
| Amounts receivable within one year | 40/41 | €65,032 | €38,127 | -€26,905 | -41.4% |
| Trade receivables | 40 | €61,588 | €37,510 | -€24,078 | -39.1% |
| Other amounts receivable | 41 | €3,445 | €617 | -€2,828 | -82.1% |
| Cash at bank and in hand | 54/58 | €61,019 | €42,162 | -€18,856 | -30.9% |
| Deferred charges and accrued income | 490/1 | €180 | €228 | +€48 | +26.6% |
| Total equity and liabilities | 10/49 | €128,663 | €81,682 | -€46,981 | -36.5% |
| Equity | 10/15 | €42,673 | €4,000 | -€38,673 | -90.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €15,502 | €0 | -€15,502 | -100% |
| Distributable reserves | 133 | €15,502 | €0 | -€15,502 | -100% |
| Profit (loss) carried forward | 14 | €23,171 | €0 | -€23,171 | -100% |
| Amounts payable | 17/49 | €85,990 | €77,682 | -€8,308 | -9.7% |
| Amounts payable within one year | 42/48 | €85,602 | €77,682 | -€7,921 | -9.3% |
| Trade debts | 44 | €2,883 | €2,647 | -€235 | -8.2% |
| Suppliers | 440/4 | €2,883 | €2,647 | -€235 | -8.2% |
| Taxes, remuneration and social security | 45 | €17,720 | €15,175 | -€2,545 | -14.4% |
| Taxes | 450/3 | €17,720 | €15,175 | -€2,545 | -14.4% |
| Other amounts payable | 47/48 | €65,000 | €59,860 | -€5,140 | -7.9% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €890 | €768 | -€122 | -13.7% |
| Other operating charges | 640/8 | €1,014 | €475 | -€539 | -53.2% |
| Gross operating margin | 9900 | €39,477 | €29,578 | -€9,899 | -25.1% |
| Operating profit (loss) | 9901 | €37,573 | €28,335 | -€9,238 | -24.6% |
| Financial income | 75/76B | €34 | €103 | +€69 | +205% |
| Recurring financial income | 75 | €34 | €103 | +€69 | +205% |
| Financial charges | 65/66B | €99 | €337 | +€238 | +241% |
| Recurring financial charges | 65 | €99 | €337 | +€238 | +241% |
| Profit (loss) for the period before taxes | 9903 | €37,509 | €28,102 | -€9,407 | -25.1% |
| Income taxes | 67/77 | €8,582 | €6,915 | -€1,667 | -19.4% |
| Profit (loss) for the period | 9904 | €28,927 | €21,187 | -€7,740 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,927 | €21,187 | -€7,740 | -26.8% |
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 18 October 2026 via checked.be.