T & C: 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.
T & C
Largest movements
- Receivables within one year -€104,722
down €104,722 (-96.9%), from €108,018 to €3,295
of which Other amounts receivable: -€104,238
- Cash +€9,140
up €9,140 (+60.0%), from €15,246 to €24,386
mainly Receivables within one year (+€104,722) and Deferred charges and accrued income (+€1,418)
- Deferred charges and accrued income -€1,418
down €1,418 (-19.4%), from €7,309 to €5,891
- Debts after one year -€88,722
down €88,722 (-84.9%), from €104,513 to €15,791
- Reserves -€29,421
down €29,421 (-100.0%), from €29,421 to €0
- Profit (loss) carried forward +€21,315
up €21,315 (+90.9%), from -€23,439 to -€2,124
- Tax, wage and social debts -€1,637
down €1,637 (-100.0%), from €1,637 to €0
- Gross operating margin -€13,763
down €13,763, from €11,832 to -€1,931
- Other operating charges -€3,070
down €3,070 (-65.0%), from €4,723 to €1,653
- Financial charges -€234
down €234 (-6.9%), from €3,411 to €3,177
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 | €132,743 | €34,714 | -€98,029 | -73.8% |
| Fixed assets | 21/28 | €2,170 | €1,141 | -€1,029 | -47.4% |
| Tangible fixed assets | 22/27 | €2,170 | €1,141 | -€1,029 | -47.4% |
| Plant, machinery and equipment | 23 | €2,170 | €1,141 | -€1,029 | -47.4% |
| Current assets | 29/58 | €130,573 | €33,573 | -€97,000 | -74.3% |
| Amounts receivable within one year | 40/41 | €108,018 | €3,295 | -€104,722 | -96.9% |
| Trade receivables | 40 | €1,343 | €859 | -€484 | -36.0% |
| Other amounts receivable | 41 | €106,675 | €2,436 | -€104,238 | -97.7% |
| Cash at bank and in hand | 54/58 | €15,246 | €24,386 | +€9,140 | +60.0% |
| Deferred charges and accrued income | 490/1 | €7,309 | €5,891 | -€1,418 | -19.4% |
| Total equity and liabilities | 10/49 | €132,743 | €34,714 | -€98,029 | -73.8% |
| Equity | 10/15 | €24,574 | €16,468 | -€8,105 | -33.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €29,421 | €0 | -€29,421 | -100.0% |
| Distributable reserves | 133 | €29,421 | €0 | -€29,421 | -100.0% |
| Profit (loss) carried forward | 14 | -€23,439 | -€2,124 | +€21,315 | +90.9% |
| Amounts payable | 17/49 | €108,169 | €18,246 | -€89,924 | -83.1% |
| Amounts payable after more than one year | 17 | €104,513 | €15,791 | -€88,722 | -84.9% |
| Other amounts payable | 178/9 | €104,513 | €15,791 | -€88,722 | -84.9% |
| Amounts payable within one year | 42/48 | €3,656 | €2,454 | -€1,202 | -32.9% |
| Financial debts | 43 | €567 | €285 | -€282 | -49.7% |
| Credit institutions | 430/8 | €567 | €285 | -€282 | -49.7% |
| Trade debts | 44 | €1,451 | €2,169 | +€718 | +49.5% |
| Suppliers | 440/4 | €1,451 | €2,169 | +€718 | +49.5% |
| Taxes, remuneration and social security | 45 | €1,637 | €0 | -€1,637 | -100.0% |
| Taxes | 450/3 | €1,637 | €0 | -€1,637 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,029 | €1,029 | = | 0.0% |
| Other operating charges | 640/8 | €4,723 | €1,653 | -€3,070 | -65.0% |
| Gross operating margin | 9900 | €11,832 | -€1,931 | -€13,763 | |
| Operating profit (loss) | 9901 | €6,081 | -€4,613 | -€10,694 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €3,411 | €3,177 | -€234 | -6.9% |
| Recurring financial charges | 65 | €3,411 | €3,177 | -€234 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €2,670 | -€7,790 | -€10,460 | |
| Income taxes | 67/77 | €310 | €315 | +€5 | +1.6% |
| Profit (loss) for the period | 9904 | €2,360 | -€8,105 | -€10,465 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,360 | -€8,105 | -€10,465 |
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 3 October 2026 via checked.be.