TECHNICAL FORENSICS: what changed
TECHNICAL FORENSICS
Largest movements
- Receivables within one year -€93,367
down €93,367 (-44.0%), from €212,186 to €118,820
of which Trade receivables: -€93,367
- Tangible fixed assets +€52,431
new in 2025: €52,431
- Cash +€23,776
up €23,776 (+42.1%), from €56,466 to €80,242
mainly Receivables within one year (+€93,367) and Debts after one year (+€37,244)
- Trade debts -€60,040
down €60,040 (-99.4%), from €60,418 to €378
- Debts after one year +€37,244
new in 2025: €37,244
- Tax, wage and social debts -€25,360
down €25,360 (-39.5%), from €64,140 to €38,780
- Profit (loss) carried forward +€21,255
up €21,255 (+15.3%), from €139,095 to €160,350
- Current portion of long-term debt +€13,282
new in 2025: €13,282
- Gross operating margin -€141,922
down €141,922 (-78.8%), from €180,191 to €38,269
- Taxes -€31,431
down €31,431 (-77.7%), from €40,472 to €9,042
- Depreciation +€6,556
new in 2025: €6,556
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €268,653 | €255,034 | -€13,618 | -5.1% |
| Fixed assets | 21/28 | - | €53,331 | +€53,331 | |
| Intangible fixed assets | 21 | - | €900 | +€900 | |
| Tangible fixed assets | 22/27 | - | €52,431 | +€52,431 | |
| Furniture and vehicles | 24 | - | €52,431 | +€52,431 | |
| Current assets | 29/58 | €268,653 | €201,704 | -€66,949 | -24.9% |
| Amounts receivable within one year | 40/41 | €212,186 | €118,820 | -€93,367 | -44.0% |
| Trade receivables | 40 | €190,372 | €97,006 | -€93,367 | -49.0% |
| Other amounts receivable | 41 | €21,814 | €21,814 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €56,466 | €80,242 | +€23,776 | +42.1% |
| Deferred charges and accrued income | 490/1 | - | €2,642 | +€2,642 | |
| Total equity and liabilities | 10/49 | €268,653 | €255,034 | -€13,618 | -5.1% |
| Equity | 10/15 | €144,095 | €165,350 | +€21,255 | +14.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,095 | €160,350 | +€21,255 | +15.3% |
| Amounts payable | 17/49 | €124,558 | €89,684 | -€34,873 | -28.0% |
| Amounts payable after more than one year | 17 | - | €37,244 | +€37,244 | |
| Financial debts | 170/4 | - | €37,244 | +€37,244 | |
| Amounts payable within one year | 42/48 | €124,558 | €52,440 | -€72,117 | -57.9% |
| Current portion of amounts payable after more than one year | 42 | - | €13,282 | +€13,282 | |
| Trade debts | 44 | €60,418 | €378 | -€60,040 | -99.4% |
| Suppliers | 440/4 | €60,418 | €378 | -€60,040 | -99.4% |
| Taxes, remuneration and social security | 45 | €64,140 | €38,780 | -€25,360 | -39.5% |
| Taxes | 450/3 | €64,140 | €38,780 | -€25,360 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,556 | +€6,556 | |
| Gross operating margin | 9900 | €180,191 | €38,269 | -€141,922 | -78.8% |
| Operating profit (loss) | 9901 | €180,191 | €31,713 | -€148,478 | -82.4% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €623 | €1,451 | +€828 | +133% |
| Recurring financial charges | 65 | €623 | €1,451 | +€828 | +133% |
| Profit (loss) for the period before taxes | 9903 | €179,567 | €30,297 | -€149,270 | -83.1% |
| Income taxes | 67/77 | €40,472 | €9,042 | -€31,431 | -77.7% |
| Profit (loss) for the period | 9904 | €139,095 | €21,255 | -€117,840 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €139,095 | €21,255 | -€117,840 | -84.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.