TENSE: 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.
TENSE
Largest movements
- Current investments -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Cash +€213,234
up €213,234 (+1275.0%), from €16,724 to €229,958
mainly Current investments (+€500,000) and Investment in fixed assets (net) (+€1,061)
- Receivables within one year +€196,232
up €196,232 (+202.3%), from €97,019 to €293,251
of which Other amounts receivable: +€276,025
- Deferred charges and accrued income +€8,724
up €8,724 (+519.7%), from €1,679 to €10,403
- Other debts -€39,877
down €39,877 (-96.4%), from €41,353 to €1,476
- Trade debts -€37,981
down €37,981 (-46.5%), from €81,658 to €43,677
- Gross operating margin -€729,442
down €729,442, from €688,734 to -€40,708
- Taxes -€144,122
down €144,122 (-100.0%), from €144,122 to €0
- Write-downs -€92,296
down €92,296, from €49,710 to -€42,586
- Staff costs -€85,912
down €85,912, from €85,362 to -€550
- Other operating charges -€40,246
down €40,246 (-73.3%), from €54,869 to €14,623
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 | €616,483 | €533,612 | -€82,870 | -13.4% |
| Fixed assets | 21/28 | €1,061 | €0 | -€1,061 | -100.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,061 | €0 | -€1,061 | -100.0% |
| Furniture and vehicles | 24 | €1,061 | €0 | -€1,061 | -100.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €615,422 | €533,612 | -€81,810 | -13.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €97,019 | €293,251 | +€196,232 | +202.3% |
| Trade receivables | 40 | €84,363 | €4,571 | -€79,793 | -94.6% |
| Other amounts receivable | 41 | €12,656 | €288,681 | +€276,025 | +2181.0% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €16,724 | €229,958 | +€213,234 | +1275.0% |
| Deferred charges and accrued income | 490/1 | €1,679 | €10,403 | +€8,724 | +519.7% |
| Total equity and liabilities | 10/49 | €616,483 | €533,612 | -€82,870 | -13.4% |
| Equity | 10/15 | €485,370 | €486,153 | +€783 | +0.2% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €335,370 | €335,370 | = | 0.0% |
| Distributable reserves | 133 | €335,370 | €335,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €783 | +€783 | |
| Amounts payable | 17/49 | €131,112 | €47,459 | -€83,653 | -63.8% |
| Amounts payable after more than one year | 17 | €903 | €0 | -€903 | -100.0% |
| Financial debts | 170/4 | €903 | €0 | -€903 | -100.0% |
| Amounts payable within one year | 42/48 | €126,574 | €47,011 | -€79,563 | -62.9% |
| Current portion of amounts payable after more than one year | 42 | €3,563 | €903 | -€2,660 | -74.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €81,658 | €43,677 | -€37,981 | -46.5% |
| Suppliers | 440/4 | €81,658 | €43,677 | -€37,981 | -46.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €955 | +€955 | |
| Taxes | 450/3 | €0 | €955 | +€955 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €41,353 | €1,476 | -€39,877 | -96.4% |
| Accrued charges and deferred income | 492/3 | €3,635 | €448 | -€3,187 | -87.7% |
| Non-recurring operating income | 76A | €856,850 | €0 | -€856,850 | -100.0% |
| Remuneration, social security and pensions | 62 | €85,362 | -€550 | -€85,912 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,056 | €0 | -€1,056 | -100.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €49,710 | -€42,586 | -€92,296 | |
| Other operating charges | 640/8 | €54,869 | €14,623 | -€40,246 | -73.3% |
| Non-recurring operating charges | 66A | - | €1,061 | +€1,061 | |
| Gross operating margin | 9900 | €688,734 | -€40,708 | -€729,442 | |
| Operating profit (loss) | 9901 | €497,736 | -€13,255 | -€510,991 | |
| Financial income | 75/76B | €62 | €14,740 | +€14,678 | +23597.3% |
| Recurring financial income | 75 | €62 | €14,740 | +€14,678 | +23597.3% |
| Financial charges | 65/66B | €15,327 | €702 | -€14,625 | -95.4% |
| Recurring financial charges | 65 | €15,327 | €702 | -€14,625 | -95.4% |
| Profit (loss) for the period before taxes | 9903 | €482,472 | €783 | -€481,688 | -99.8% |
| Income taxes | 67/77 | €144,122 | €0 | -€144,122 | -100.0% |
| Profit (loss) for the period | 9904 | €338,350 | €783 | -€337,567 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €338,350 | €783 | -€337,567 | -99.8% |
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 8 October 2026 via checked.be.