STRATEGY WORKS: 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 WORKS
Largest movements
- Receivables within one year -€1,071
down €1,071 (-16.7%), from €6,403 to €5,332
of which Trade receivables: -€1,489
- Cash +€370
up €370 (+685%), from €54 to €424
mainly Debts after one year (+€2,705) and Receivables within one year (+€1,071)
- Profit (loss) carried forward -€3,002
down €3,002 (-2.1%), from -€140,602 to -€143,604
- Debts after one year +€2,705
up €2,705 (+8.5%), from €31,794 to €34,499
- Trade debts -€792
down €792 (-34.3%), from €2,308 to €1,516
- Accrued charges and deferred income +€399
new in 2025: €399
- Other operating charges +€789
up €789 (+999%), from €79 to €868
- Gross operating margin +€308
up €308 (+13.3%), from -€2,308 to -€2,000
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 | €6,457 | €5,756 | -€701 | -10.9% |
| Current assets | 29/58 | €6,457 | €5,756 | -€701 | -10.9% |
| Amounts receivable within one year | 40/41 | €6,403 | €5,332 | -€1,071 | -16.7% |
| Trade receivables | 40 | €1,489 | - | -€1,489 | |
| Other amounts receivable | 41 | €4,914 | €5,332 | +€418 | +8.5% |
| Cash at bank and in hand | 54/58 | €54 | €424 | +€370 | +685% |
| Total equity and liabilities | 10/49 | €6,457 | €5,756 | -€701 | -10.9% |
| Equity | 10/15 | -€27,656 | -€30,658 | -€3,002 | -10.9% |
| Contributions | 10/11 | €63,086 | €63,086 | = | 0.0% |
| Reserves | 13 | €49,860 | €49,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,860 | €49,860 | +€45,000 | +926% |
| Reserves not available under the articles | 1311 | €4,860 | €49,860 | +€45,000 | +926% |
| Distributable reserves | 133 | €45,000 | - | -€45,000 | |
| Profit (loss) carried forward | 14 | -€140,602 | -€143,604 | -€3,002 | -2.1% |
| Amounts payable | 17/49 | €34,113 | €36,414 | +€2,301 | +6.7% |
| Amounts payable after more than one year | 17 | €31,794 | €34,499 | +€2,705 | +8.5% |
| Other amounts payable | 178/9 | €31,794 | €34,499 | +€2,705 | +8.5% |
| Amounts payable within one year | 42/48 | €2,319 | €1,516 | -€803 | -34.6% |
| Financial debts | 43 | €11 | - | -€11 | |
| Credit institutions | 430/8 | €11 | - | -€11 | |
| Trade debts | 44 | €2,308 | €1,516 | -€792 | -34.3% |
| Suppliers | 440/4 | €2,308 | €1,516 | -€792 | -34.3% |
| Accrued charges and deferred income | 492/3 | - | €399 | +€399 | |
| Other operating charges | 640/8 | €79 | €868 | +€789 | +999% |
| Gross operating margin | 9900 | -€2,308 | -€2,000 | +€308 | +13.3% |
| Operating profit (loss) | 9901 | -€2,387 | -€2,868 | -€481 | -20.2% |
| Financial charges | 65/66B | €157 | €138 | -€19 | -12.1% |
| Recurring financial charges | 65 | €157 | €138 | -€19 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,544 | -€3,006 | -€462 | -18.2% |
| Income taxes | 67/77 | - | -€4 | -€4 | |
| Profit (loss) for the period | 9904 | -€2,544 | -€3,002 | -€458 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,544 | -€3,002 | -€458 | -18.0% |
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 28 October 2026 via checked.be.