The Developers: 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.
The Developers
Largest movements
- Receivables within one year -€13,855
down €13,855 (-70.0%), from €19,802 to €5,947
of which Trade receivables: -€15,653
- Cash -€8,152
down €8,152 (-73.2%), from €11,143 to €2,991
mainly Tax, wage and social debts (-€16,528) and Investment in fixed assets (net) (-€6,694)
- Tangible fixed assets +€5,734
up €5,734 (+247%), from €2,319 to €8,053
of which Plant, machinery and equipment: +€5,978
- Tax, wage and social debts -€16,528
down €16,528 (-59.7%), from €27,670 to €11,142
of which Taxes: -€8,601
- Trade debts -€4,069
down €4,069 (-67.6%), from €6,021 to €1,952
- Accrued charges and deferred income +€3,672
up €3,672 (+490%), from €750 to €4,422
- Gross operating margin +€14,667
up €14,667, from -€12,861 to €1,806
- Depreciation +€837
up €837 (+681%), from €123 to €959
- Other operating charges -€159
down €159 (-55.5%), from €287 to €128
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.
Derived cash bridge
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 | €183,264 | €166,991 | -€16,273 | -8.9% |
| Fixed assets | 21/28 | €2,319 | €8,053 | +€5,734 | +247% |
| Tangible fixed assets | 22/27 | €2,319 | €8,053 | +€5,734 | +247% |
| Land and buildings | 22 | €2,319 | €2,075 | -€244 | -10.5% |
| Plant, machinery and equipment | 23 | - | €5,978 | +€5,978 | |
| Current assets | 29/58 | €180,945 | €158,938 | -€22,007 | -12.2% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,802 | €5,947 | -€13,855 | -70.0% |
| Trade receivables | 40 | €18,785 | €3,132 | -€15,653 | -83.3% |
| Other amounts receivable | 41 | €1,017 | €2,815 | +€1,798 | +177% |
| Cash at bank and in hand | 54/58 | €11,143 | €2,991 | -€8,152 | -73.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €183,264 | €166,991 | -€16,273 | -8.9% |
| Equity | 10/15 | €13,495 | €13,397 | -€98 | -0.7% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €24,055 | €24,055 | = | 0.0% |
| Distributable reserves | 133 | €24,055 | €24,055 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,060 | -€14,158 | -€98 | -0.7% |
| Amounts payable | 17/49 | €169,769 | €153,594 | -€16,175 | -9.5% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €69,019 | €49,172 | -€19,847 | -28.8% |
| Trade debts | 44 | €6,021 | €1,952 | -€4,069 | -67.6% |
| Suppliers | 440/4 | €6,021 | €1,952 | -€4,069 | -67.6% |
| Taxes, remuneration and social security | 45 | €27,670 | €11,142 | -€16,528 | -59.7% |
| Taxes | 450/3 | €10,405 | €1,804 | -€8,601 | -82.7% |
| Remuneration and social security | 454/9 | €17,265 | €9,339 | -€7,926 | -45.9% |
| Other amounts payable | 47/48 | €35,327 | €36,077 | +€750 | +2.1% |
| Accrued charges and deferred income | 492/3 | €750 | €4,422 | +€3,672 | +490% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123 | €959 | +€837 | +681% |
| Other operating charges | 640/8 | €287 | €128 | -€159 | -55.5% |
| Gross operating margin | 9900 | -€12,861 | €1,806 | +€14,667 | |
| Operating profit (loss) | 9901 | -€13,271 | €718 | +€13,989 | |
| Financial charges | 65/66B | €789 | €816 | +€27 | +3.5% |
| Recurring financial charges | 65 | €789 | €816 | +€27 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,060 | -€98 | +€13,962 | +99.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€14,060 | -€98 | +€13,962 | +99.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,060 | -€98 | +€13,962 | +99.3% |
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 16 October 2026 via checked.be.