The Essentials: 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 Essentials
Largest movements
- Cash +€49,676
up €49,676 (+63.3%), from €78,527 to €128,204
mainly Receivables within one year (+€16,533) and Other debts (+€13,287)
- Receivables within one year -€16,533
down €16,533 (-85.7%), from €19,298 to €2,765
of which Other amounts receivable: -€9,903
- Intangible fixed assets -€8,797
down €8,797 (-92.9%), from €9,472 to €674
- Stocks and contracts -€2,330
down €2,330 (-92.9%), from €2,509 to €179
- Tangible fixed assets +€1,828
up €1,828 (+118%), from €1,548 to €3,376
of which Furniture and vehicles: +€1,958
- Other debts +€13,287
up €13,287 (+18.9%), from €70,116 to €83,402
- Trade debts +€9,938
up €9,938 (+53.1%), from €18,721 to €28,660
- Profit (loss) carried forward -€2,447
new in 2025: -€2,447
- Short-term financial debts +€2,188
up €2,188 (+205%), from €1,067 to €3,255
- Gross operating margin -€44,518
down €44,518, from €29,768 to -€14,750
- Write-downs -€30,256
down €30,256, from €8,090 to -€22,166
- Taxes -€984
no longer reported in 2025 (was €984)
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 | €111,482 | €135,198 | +€23,716 | +21.3% |
| Fixed assets | 21/28 | €11,020 | €4,050 | -€6,970 | -63.2% |
| Intangible fixed assets | 21 | €9,472 | €674 | -€8,797 | -92.9% |
| Tangible fixed assets | 22/27 | €1,548 | €3,376 | +€1,828 | +118% |
| Plant, machinery and equipment | 23 | €479 | €348 | -€131 | -27.3% |
| Furniture and vehicles | 24 | €1,069 | €3,027 | +€1,958 | +183% |
| Current assets | 29/58 | €100,462 | €131,148 | +€30,686 | +30.5% |
| Stocks and contracts in progress | 3 | €2,509 | €179 | -€2,330 | -92.9% |
| Stocks | 30/36 | €2,509 | €179 | -€2,330 | -92.9% |
| Amounts receivable within one year | 40/41 | €19,298 | €2,765 | -€16,533 | -85.7% |
| Trade receivables | 40 | €9,272 | €2,642 | -€6,630 | -71.5% |
| Other amounts receivable | 41 | €10,026 | €122 | -€9,903 | -98.8% |
| Cash at bank and in hand | 54/58 | €78,527 | €128,204 | +€49,676 | +63.3% |
| Deferred charges and accrued income | 490/1 | €127 | - | -€127 | |
| Total equity and liabilities | 10/49 | €111,482 | €135,198 | +€23,716 | +21.3% |
| Equity | 10/15 | €18,463 | €16,016 | -€2,447 | -13.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,063 | €6,063 | = | 0.0% |
| Non-distributable reserves | 130/1 | €99 | €99 | = | 0.0% |
| Reserves not available under the articles | 1311 | €99 | €99 | = | 0.0% |
| Distributable reserves | 133 | €5,964 | €5,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,447 | -€2,447 | |
| Amounts payable | 17/49 | €93,018 | €119,182 | +€26,163 | +28.1% |
| Amounts payable within one year | 42/48 | €93,018 | €119,182 | +€26,163 | +28.1% |
| Financial debts | 43 | €1,067 | €3,255 | +€2,188 | +205% |
| Credit institutions | 430/8 | €1,067 | €3,255 | +€2,188 | +205% |
| Trade debts | 44 | €18,721 | €28,660 | +€9,938 | +53.1% |
| Suppliers | 440/4 | €18,721 | €28,660 | +€9,938 | +53.1% |
| Taxes, remuneration and social security | 45 | €3,114 | €3,865 | +€750 | +24.1% |
| Taxes | 450/3 | €3,114 | €3,865 | +€750 | +24.1% |
| Other amounts payable | 47/48 | €70,116 | €83,402 | +€13,287 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,420 | €9,557 | +€137 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,090 | -€22,166 | -€30,256 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €29,768 | -€14,750 | -€44,518 | |
| Operating profit (loss) | 9901 | €11,871 | -€2,540 | -€14,411 | |
| Financial income | 75/76B | €343 | €408 | +€64 | +18.7% |
| Recurring financial income | 75 | €343 | €408 | +€64 | +18.7% |
| Financial charges | 65/66B | €213 | €315 | +€102 | +47.8% |
| Recurring financial charges | 65 | €213 | €315 | +€102 | +47.8% |
| Profit (loss) for the period before taxes | 9903 | €12,001 | -€2,447 | -€14,448 | |
| Income taxes | 67/77 | €984 | - | -€984 | |
| Profit (loss) for the period | 9904 | €11,017 | -€2,447 | -€13,465 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,017 | -€2,447 | -€13,465 |
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 18 October 2026 via checked.be.