STUDY EXPERIENCE: what changed
Two fiscal 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.
STUDY EXPERIENCE
Largest movements
- Receivables within one year +€6,280
up €6,280 (+198.9%), from €3,157 to €9,437
of which Trade receivables: +€5,813
- Cash -€5,262
down €5,262 (-36.5%), from €14,398 to €9,135
mainly Receivables within one year (-€6,280) and Net result for the year (-€3,912)
- Deferred charges and accrued income -€3,274
down €3,274 (-100.0%), from €3,274 to €0
- Intangible fixed assets -€366
down €366 (-100.0%), from €366 to €0
- Profit (loss) carried forward -€3,912
down €3,912 (-14.7%), from -€26,543 to -€30,455
- Trade debts +€2,205
up €2,205 (+51.7%), from €4,261 to €6,466
- Tax, wage and social debts -€1,302
down €1,302 (-100.0%), from €1,302 to €0
- Accrued charges and deferred income +€388
new in 2025: €388
- Gross operating margin -€2,975
down €2,975, from €719 to -€2,256
- Financial charges +€419
up €419 (+45.8%), from €915 to €1,334
- Financial income -€243
down €243 (-84.5%), from €287 to €44
- Write-downs -€188
down €188 (-100.0%), from €188 to €0
- Depreciation -€90
down €90 (-19.7%), from €456 to €366
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 | €21,655 | €19,032 | -€2,622 | -12.1% |
| Fixed assets | 21/28 | €826 | €460 | -€366 | -44.3% |
| Intangible fixed assets | 21 | €366 | €0 | -€366 | -100.0% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €20,829 | €18,572 | -€2,256 | -10.8% |
| Amounts receivable within one year | 40/41 | €3,157 | €9,437 | +€6,280 | +198.9% |
| Trade receivables | 40 | €2,004 | €7,817 | +€5,813 | +290.0% |
| Other amounts receivable | 41 | €1,153 | €1,620 | +€467 | +40.6% |
| Cash at bank and in hand | 54/58 | €14,398 | €9,135 | -€5,262 | -36.5% |
| Deferred charges and accrued income | 490/1 | €3,274 | €0 | -€3,274 | -100.0% |
| Total equity and liabilities | 10/49 | €21,655 | €19,032 | -€2,622 | -12.1% |
| Equity | 10/15 | €7,090 | €3,178 | -€3,912 | -55.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,032 | €15,032 | = | 0.0% |
| Non-distributable reserves | 130/1 | €107 | €107 | = | 0.0% |
| Reserves not available under the articles | 1311 | €107 | €107 | = | 0.0% |
| Distributable reserves | 133 | €14,925 | €14,925 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,543 | -€30,455 | -€3,912 | -14.7% |
| Amounts payable | 17/49 | €14,565 | €15,855 | +€1,290 | +8.9% |
| Amounts payable within one year | 42/48 | €14,565 | €15,467 | +€902 | +6.2% |
| Trade debts | 44 | €4,261 | €6,466 | +€2,205 | +51.7% |
| Suppliers | 440/4 | €4,261 | €6,466 | +€2,205 | +51.7% |
| Taxes, remuneration and social security | 45 | €1,302 | €0 | -€1,302 | -100.0% |
| Taxes | 450/3 | €1,302 | €0 | -€1,302 | -100.0% |
| Other amounts payable | 47/48 | €9,001 | €9,001 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €388 | +€388 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €456 | €366 | -€90 | -19.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €188 | €0 | -€188 | -100.0% |
| Gross operating margin | 9900 | €719 | -€2,256 | -€2,975 | |
| Operating profit (loss) | 9901 | €75 | -€2,623 | -€2,697 | |
| Financial income | 75/76B | €287 | €44 | -€243 | -84.5% |
| Recurring financial income | 75 | €287 | €44 | -€243 | -84.5% |
| Financial charges | 65/66B | €915 | €1,334 | +€419 | +45.8% |
| Recurring financial charges | 65 | €915 | €1,334 | +€419 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | -€553 | -€3,912 | -€3,359 | -607.6% |
| Income taxes | 67/77 | €56 | €0 | -€56 | -100.0% |
| Profit (loss) for the period | 9904 | -€609 | -€3,912 | -€3,303 | -542.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€609 | -€3,912 | -€3,303 | -542.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.