The Compass: 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.
The Compass
Largest movements
- Financial fixed assets -€274,550
down €274,550 (-29.9%), from €919,383 to €644,833
- Receivables within one year -€101,704
down €101,704 (-66.6%), from €152,765 to €51,061
of which Trade receivables: -€92,403
- Profit (loss) carried forward -€282,269
down €282,269 (-477.6%), from -€59,096 to -€341,365
- Trade debts -€70,971
down €70,971 (-67.1%), from €105,835 to €34,864
- Other debts -€23,759
down €23,759 (-41.0%), from €57,936 to €34,178
- Purchases and services -€448,712
down €448,712 (-64.8%), from €692,866 to €244,153
- Turnover -€379,052
down €379,052 (-67.2%), from €564,421 to €185,369
- Financial charges +€216,422
up €216,422 (+366.4%), from €59,069 to €275,491
of which Non-recurring financial charges: +€218,752
- Financial income -€93,000
down €93,000 (-100.0%), from €93,000 to €0
- Gross operating margin +€25,058
up €25,058 (+85.1%), from -€29,429 to -€4,371
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 | €1,080,376 | €703,377 | -€376,999 | -34.9% |
| Fixed assets | 21/28 | €922,087 | €646,579 | -€275,508 | -29.9% |
| Tangible fixed assets | 22/27 | €2,704 | €1,746 | -€958 | -35.4% |
| Other tangible fixed assets | 26 | €2,704 | €1,746 | -€958 | -35.4% |
| Financial fixed assets | 28 | €919,383 | €644,833 | -€274,550 | -29.9% |
| Current assets | 29/58 | €158,289 | €56,798 | -€101,491 | -64.1% |
| Amounts receivable within one year | 40/41 | €152,765 | €51,061 | -€101,704 | -66.6% |
| Trade receivables | 40 | €143,276 | €50,874 | -€92,403 | -64.5% |
| Other amounts receivable | 41 | €9,489 | €188 | -€9,301 | -98.0% |
| Cash at bank and in hand | 54/58 | €4,550 | €4,992 | +€442 | +9.7% |
| Deferred charges and accrued income | 490/1 | €973 | €745 | -€228 | -23.5% |
| Total equity and liabilities | 10/49 | €1,080,376 | €703,377 | -€376,999 | -34.9% |
| Equity | 10/15 | €916,604 | €634,335 | -€282,269 | -30.8% |
| Contributions | 10/11 | €887,000 | €887,000 | = | 0.0% |
| Capital | 10 | €887,000 | €887,000 | = | 0.0% |
| Issued capital | 100 | €887,000 | €887,000 | = | 0.0% |
| Reserves | 13 | €88,700 | €88,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €88,700 | €88,700 | = | 0.0% |
| Legal reserve | 130 | €88,700 | €88,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,096 | -€341,365 | -€282,269 | -477.6% |
| Amounts payable | 17/49 | €163,772 | €69,042 | -€94,730 | -57.8% |
| Amounts payable within one year | 42/48 | €163,772 | €69,042 | -€94,730 | -57.8% |
| Trade debts | 44 | €105,835 | €34,864 | -€70,971 | -67.1% |
| Suppliers | 440/4 | €105,835 | €34,864 | -€70,971 | -67.1% |
| Other amounts payable | 47/48 | €57,936 | €34,178 | -€23,759 | -41.0% |
| Turnover | 70 | €564,421 | €185,369 | -€379,052 | -67.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €692,866 | €244,153 | -€448,712 | -64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €958 | €958 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,409 | €1,450 | +€41 | +2.9% |
| Gross operating margin | 9900 | -€29,429 | -€4,371 | +€25,058 | +85.1% |
| Operating profit (loss) | 9901 | -€31,796 | -€6,778 | +€25,017 | +78.7% |
| Financial income | 75/76B | €93,000 | €0 | -€93,000 | -100.0% |
| Recurring financial income | 75 | €93,000 | €0 | -€93,000 | -100.0% |
| Financial charges | 65/66B | €59,069 | €275,491 | +€216,422 | +366.4% |
| Recurring financial charges | 65 | €3,270 | €940 | -€2,330 | -71.2% |
| Non-recurring financial charges | 66B | €55,799 | €274,551 | +€218,752 | +392.0% |
| Profit (loss) for the period before taxes | 9903 | €2,135 | -€282,269 | -€284,404 | |
| Profit (loss) for the period | 9904 | €2,135 | -€282,269 | -€284,404 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,135 | -€282,269 | -€284,404 |
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 6 October 2026 via checked.be.