STRUCTURE: 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.
STRUCTURE
Largest movements
- Receivables within one year +€17,623
up €17,623 (+651.6%), from €2,705 to €20,328
of which Other amounts receivable: +€19,527
- Tangible fixed assets -€10,037
down €10,037 (-73.6%), from €13,631 to €3,593
of which Land and buildings: -€6,540
- Cash -€2,311
down €2,311 (-4.7%), from €48,831 to €46,520
mainly Receivables within one year (-€17,623) and Tax, wage and social debts (-€12,811)
- Stocks and contracts -€1,473
down €1,473 (-36.6%), from €4,021 to €2,548
- Deferred charges and accrued income +€1,402
up €1,402 (+1044.5%), from €134 to €1,536
- Reserves +€40,386
new in 2025: €40,386
- Profit (loss) carried forward -€21,922
no longer reported in 2025 (was €21,922)
- Tax, wage and social debts -€12,811
down €12,811 (-80.6%), from €15,896 to €3,085
- Trade debts +€7,505
up €7,505 (+429.3%), from €1,748 to €9,253
- Other debts -€4,793
no longer reported in 2025 (was €4,793)
- Depreciation -€7,145
down €7,145 (-67.1%), from €10,643 to €3,497
- Financial charges +€5,383
up €5,383 (+275.4%), from €1,955 to €7,338
- Other operating charges -€990
down €990 (-37.7%), from €2,626 to €1,636
- Gross operating margin -€803
down €803 (-2.0%), from €40,124 to €39,321
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 | €69,323 | €74,526 | +€5,204 | +7.5% |
| Fixed assets | 21/28 | €13,631 | €3,593 | -€10,037 | -73.6% |
| Tangible fixed assets | 22/27 | €13,631 | €3,593 | -€10,037 | -73.6% |
| Land and buildings | 22 | €6,540 | - | -€6,540 | |
| Plant, machinery and equipment | 23 | €232 | - | -€232 | |
| Furniture and vehicles | 24 | €989 | €801 | -€188 | -19.0% |
| Leasing and similar rights | 25 | €5,613 | €2,763 | -€2,849 | -50.8% |
| Other tangible fixed assets | 26 | €258 | €29 | -€229 | -88.8% |
| Current assets | 29/58 | €55,692 | €70,933 | +€15,241 | +27.4% |
| Stocks and contracts in progress | 3 | €4,021 | €2,548 | -€1,473 | -36.6% |
| Stocks | 30/36 | €4,021 | €2,548 | -€1,473 | -36.6% |
| Amounts receivable within one year | 40/41 | €2,705 | €20,328 | +€17,623 | +651.6% |
| Trade receivables | 40 | €2,705 | €801 | -€1,904 | -70.4% |
| Other amounts receivable | 41 | €0 | €19,527 | +€19,527 | |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,831 | €46,520 | -€2,311 | -4.7% |
| Deferred charges and accrued income | 490/1 | €134 | €1,536 | +€1,402 | +1044.5% |
| Total equity and liabilities | 10/49 | €69,323 | €74,526 | +€5,204 | +7.5% |
| Equity | 10/15 | €40,514 | €58,978 | +€18,464 | +45.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | - | €40,386 | +€40,386 | |
| Distributable reserves | 133 | - | €40,386 | +€40,386 | |
| Profit (loss) carried forward | 14 | €21,922 | - | -€21,922 | |
| Amounts payable | 17/49 | €28,808 | €15,548 | -€13,260 | -46.0% |
| Amounts payable after more than one year | 17 | €3,210 | - | -€3,210 | |
| Financial debts | 170/4 | €3,210 | - | -€3,210 | |
| Amounts payable within one year | 42/48 | €25,598 | €15,548 | -€10,050 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €3,162 | €3,210 | +€48 | +1.5% |
| Trade debts | 44 | €1,748 | €9,253 | +€7,505 | +429.3% |
| Suppliers | 440/4 | €1,748 | €9,253 | +€7,505 | +429.3% |
| Taxes, remuneration and social security | 45 | €15,896 | €3,085 | -€12,811 | -80.6% |
| Taxes | 450/3 | €15,896 | €3,085 | -€12,811 | -80.6% |
| Other amounts payable | 47/48 | €4,793 | - | -€4,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,643 | €3,497 | -€7,145 | -67.1% |
| Other operating charges | 640/8 | €2,626 | €1,636 | -€990 | -37.7% |
| Gross operating margin | 9900 | €40,124 | €39,321 | -€803 | -2.0% |
| Operating profit (loss) | 9901 | €26,855 | €34,187 | +€7,332 | +27.3% |
| Financial charges | 65/66B | €1,955 | €7,338 | +€5,383 | +275.4% |
| Recurring financial charges | 65 | €1,955 | €7,338 | +€5,383 | +275.4% |
| Profit (loss) for the period before taxes | 9903 | €24,900 | €26,849 | +€1,949 | +7.8% |
| Income taxes | 67/77 | €8,134 | €8,385 | +€251 | +3.1% |
| Profit (loss) for the period | 9904 | €16,766 | €18,464 | +€1,698 | +10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,766 | €18,464 | +€1,698 | +10.1% |
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 11 October 2026 via checked.be.