System Kings: 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.
System Kings
Largest movements
- Stocks and contracts +€8,749
up €8,749 (+48.7%), from €17,965 to €26,713
- Receivables within one year -€4,624
down €4,624 (-20.3%), from €22,816 to €18,192
of which Trade receivables: -€4,624
- Cash -€4,093
down €4,093 (-93.0%), from €4,400 to €307
mainly Net result for the year (-€11,932) and Stocks and contracts (-€8,749)
- Intangible fixed assets -€1,146
no longer reported in 2025 (was €1,146)
- Tangible fixed assets -€587
down €587 (-34.1%), from €1,719 to €1,132
of which Furniture and vehicles: -€724
- Other debts +€12,313
up €12,313 (+25.9%), from €47,591 to €59,904
- Profit (loss) carried forward -€11,932
down €11,932 (-29.1%), from -€40,972 to -€52,904
- Debts after one year -€5,288
no longer reported in 2025 (was €5,288)
- Trade debts +€4,038
up €4,038 (+22.2%), from €18,166 to €22,204
- Current portion of long-term debt -€901
down €901 (-14.6%), from €6,189 to €5,288
- Depreciation -€1,793
down €1,793 (-45.0%), from €3,980 to €2,187
- Gross operating margin -€1,727
down €1,727 (-29.0%), from -€5,960 to -€7,687
- Financial charges -€598
down €598 (-30.9%), from €1,937 to €1,339
- Staff costs +€493
new in 2025: €493
- Financial income -€156
down €156 (-100.0%), from €156 to €0
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 | €48,129 | €46,344 | -€1,784 | -3.7% |
| Fixed assets | 21/28 | €2,865 | €1,132 | -€1,733 | -60.5% |
| Intangible fixed assets | 21 | €1,146 | - | -€1,146 | |
| Tangible fixed assets | 22/27 | €1,719 | €1,132 | -€587 | -34.1% |
| Plant, machinery and equipment | 23 | €416 | €553 | +€137 | +32.9% |
| Furniture and vehicles | 24 | €1,303 | €579 | -€724 | -55.6% |
| Current assets | 29/58 | €45,264 | €45,212 | -€51 | -0.1% |
| Stocks and contracts in progress | 3 | €17,965 | €26,713 | +€8,749 | +48.7% |
| Stocks | 30/36 | €17,965 | €26,713 | +€8,749 | +48.7% |
| Amounts receivable within one year | 40/41 | €22,816 | €18,192 | -€4,624 | -20.3% |
| Trade receivables | 40 | €22,810 | €18,186 | -€4,624 | -20.3% |
| Other amounts receivable | 41 | €5 | €5 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,400 | €307 | -€4,093 | -93.0% |
| Deferred charges and accrued income | 490/1 | €83 | - | -€83 | |
| Total equity and liabilities | 10/49 | €48,129 | €46,344 | -€1,784 | -3.7% |
| Equity | 10/15 | -€37,972 | -€49,904 | -€11,932 | -31.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,972 | -€52,904 | -€11,932 | -29.1% |
| Amounts payable | 17/49 | €86,101 | €96,249 | +€10,148 | +11.8% |
| Amounts payable after more than one year | 17 | €5,288 | - | -€5,288 | |
| Financial debts | 170/4 | €5,288 | - | -€5,288 | |
| Amounts payable within one year | 42/48 | €80,813 | €96,249 | +€15,436 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €6,189 | €5,288 | -€901 | -14.6% |
| Financial debts | 43 | €5,259 | €5,463 | +€204 | +3.9% |
| Credit institutions | 430/8 | €5,259 | €5,463 | +€204 | +3.9% |
| Trade debts | 44 | €18,166 | €22,204 | +€4,038 | +22.2% |
| Suppliers | 440/4 | €18,166 | €22,204 | +€4,038 | +22.2% |
| Taxes, remuneration and social security | 45 | €3,607 | €3,389 | -€218 | -6.0% |
| Taxes | 450/3 | €3,607 | €3,389 | -€218 | -6.0% |
| Other amounts payable | 47/48 | €47,591 | €59,904 | +€12,313 | +25.9% |
| Remuneration, social security and pensions | 62 | - | €493 | +€493 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,980 | €2,187 | -€1,793 | -45.0% |
| Other operating charges | 640/8 | €100 | €226 | +€126 | +126.0% |
| Gross operating margin | 9900 | -€5,960 | -€7,687 | -€1,727 | -29.0% |
| Operating profit (loss) | 9901 | -€10,039 | -€10,593 | -€554 | -5.5% |
| Financial income | 75/76B | €156 | €0 | -€156 | -100.0% |
| Recurring financial income | 75 | €156 | €0 | -€156 | -100.0% |
| Financial charges | 65/66B | €1,937 | €1,339 | -€598 | -30.9% |
| Recurring financial charges | 65 | €1,937 | €1,339 | -€598 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,820 | -€11,932 | -€112 | -0.9% |
| Profit (loss) for the period | 9904 | -€11,820 | -€11,932 | -€112 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,820 | -€11,932 | -€112 | -0.9% |
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 9 October 2026 via checked.be.