STRATEGY W: 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 W
Largest movements
- Receivables within one year -€78,935
down €78,935 (-89.1%), from €88,551 to €9,616
of which Other amounts receivable: -€75,447
- Tangible fixed assets +€8,115
up €8,115 (+1223.3%), from €663 to €8,779
of which Furniture and vehicles: +€8,451
- Reserves -€63,308
no longer reported in 2025 (was €63,308)
- Profit (loss) carried forward -€8,623
new in 2025: -€8,623
- Gross operating margin -€41,879
down €41,879 (-154.8%), from -€27,057 to -€68,936
- Depreciation +€1,239
up €1,239 (+369.0%), from €336 to €1,575
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 | €93,544 | €22,496 | -€71,047 | -76.0% |
| Fixed assets | 21/28 | €663 | €8,779 | +€8,115 | +1223.3% |
| Tangible fixed assets | 22/27 | €663 | €8,779 | +€8,115 | +1223.3% |
| Plant, machinery and equipment | 23 | €663 | €328 | -€336 | -50.6% |
| Furniture and vehicles | 24 | - | €8,451 | +€8,451 | |
| Current assets | 29/58 | €92,880 | €13,718 | -€79,163 | -85.2% |
| Amounts receivable within one year | 40/41 | €88,551 | €9,616 | -€78,935 | -89.1% |
| Trade receivables | 40 | €3,488 | - | -€3,488 | |
| Other amounts receivable | 41 | €85,063 | €9,616 | -€75,447 | -88.7% |
| Cash at bank and in hand | 54/58 | €4,329 | €4,101 | -€228 | -5.3% |
| Total equity and liabilities | 10/49 | €93,544 | €22,496 | -€71,047 | -76.0% |
| Equity | 10/15 | €68,308 | -€3,623 | -€71,931 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €63,308 | - | -€63,308 | |
| Distributable reserves | 133 | €63,308 | - | -€63,308 | |
| Profit (loss) carried forward | 14 | - | -€8,623 | -€8,623 | |
| Amounts payable | 17/49 | €25,236 | €26,120 | +€884 | +3.5% |
| Amounts payable within one year | 42/48 | €25,236 | €26,120 | +€884 | +3.5% |
| Trade debts | 44 | €2,142 | €2,049 | -€93 | -4.3% |
| Suppliers | 440/4 | €2,142 | €2,049 | -€93 | -4.3% |
| Taxes, remuneration and social security | 45 | €4,500 | €4,559 | +€59 | +1.3% |
| Taxes | 450/3 | €4,500 | €4,559 | +€59 | +1.3% |
| Other amounts payable | 47/48 | €18,594 | €19,511 | +€918 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €336 | €1,575 | +€1,239 | +369.0% |
| Other operating charges | 640/8 | €493 | €719 | +€226 | +45.9% |
| Non-recurring operating charges | 66A | €5 | €167 | +€162 | +3551.4% |
| Gross operating margin | 9900 | -€27,057 | -€68,936 | -€41,879 | -154.8% |
| Operating profit (loss) | 9901 | -€27,890 | -€71,397 | -€43,507 | -156.0% |
| Financial income | 75/76B | €658 | €124 | -€535 | -81.2% |
| Recurring financial income | 75 | €658 | €124 | -€535 | -81.2% |
| Financial charges | 65/66B | €367 | €599 | +€232 | +63.2% |
| Recurring financial charges | 65 | €367 | €599 | +€232 | +63.2% |
| Profit (loss) for the period before taxes | 9903 | -€27,599 | -€71,872 | -€44,273 | -160.4% |
| Income taxes | 67/77 | - | €59 | +€59 | |
| Profit (loss) for the period | 9904 | -€27,599 | -€71,931 | -€44,332 | -160.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,599 | -€71,931 | -€44,332 | -160.6% |
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.