The Flow: 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 Flow
Largest movements
- Intangible fixed assets -€12,563
down €12,563 (-25.6%), from €49,083 to €36,519
- Receivables within one year -€2,045
down €2,045 (-5.3%), from €38,906 to €36,860
of which Other amounts receivable: -€7,584
- Reserves -€19,616
down €19,616 (-15.3%), from €128,352 to €108,736
of which Tax-exempt reserves: -€12,563
- Short-term financial debts +€7,860
up €7,860 (+112%), from €7,035 to €14,895
- Current portion of long-term debt -€2,524
down €2,524 (-82.9%), from €3,045 to €521
- Depreciation -€4,118
down €4,118 (-52.7%), from €7,812 to €3,694
- Gross operating margin -€3,645
down €3,645 (-40.3%), from €9,042 to €5,397
- Financial income -€1,124
down €1,124 (-38.4%), from €2,931 to €1,807
- Financial charges -€369
down €369 (-18.5%), from €2,002 to €1,632
- Taxes +€328
up €328 (+127%), from €258 to €586
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €173,018 | €156,724 | -€16,294 | -9.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €54,112 | €39,863 | -€14,249 | -26.3% |
| Intangible fixed assets | 21 | €49,083 | €36,519 | -€12,563 | -25.6% |
| Tangible fixed assets | 22/27 | €4,651 | €2,966 | -€1,685 | -36.2% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €1,853 | +€1,853 | |
| Furniture and vehicles | 24 | €4,651 | €1,113 | -€3,538 | -76.1% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €378 | €378 | = | 0.0% |
| Current assets | 29/58 | €118,906 | €116,860 | -€2,045 | -1.7% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,906 | €36,860 | -€2,045 | -5.3% |
| Trade receivables | 40 | €17,587 | €23,126 | +€5,539 | +31.5% |
| Other amounts receivable | 41 | €21,319 | €13,734 | -€7,584 | -35.6% |
| Total equity and liabilities | 10/49 | €173,018 | €156,724 | -€16,294 | -9.4% |
| Equity | 10/15 | €146,945 | €127,328 | -€19,616 | -13.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €128,352 | €108,736 | -€19,616 | -15.3% |
| Tax-exempt reserves | 132 | €49,083 | €36,519 | -€12,563 | -25.6% |
| Distributable reserves | 133 | €79,270 | €72,217 | -€7,053 | -8.9% |
| Amounts payable | 17/49 | €26,073 | €29,395 | +€3,322 | +12.7% |
| Amounts payable after more than one year | 17 | €521 | - | -€521 | |
| Financial debts | 170/4 | €521 | - | -€521 | |
| Amounts payable within one year | 42/48 | €25,552 | €29,395 | +€3,843 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €3,045 | €521 | -€2,524 | -82.9% |
| Financial debts | 43 | €7,035 | €14,895 | +€7,860 | +112% |
| Credit institutions | 430/8 | €7,035 | €14,895 | +€7,860 | +112% |
| Trade debts | 44 | €12,685 | €11,881 | -€804 | -6.3% |
| Suppliers | 440/4 | €12,685 | €11,881 | -€804 | -6.3% |
| Taxes, remuneration and social security | 45 | €2,787 | €2,098 | -€689 | -24.7% |
| Taxes | 450/3 | €2,787 | €2,098 | -€689 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,812 | €3,694 | -€4,118 | -52.7% |
| Other operating charges | 640/8 | €480 | €292 | -€189 | -39.3% |
| Gross operating margin | 9900 | €9,042 | €5,397 | -€3,645 | -40.3% |
| Operating profit (loss) | 9901 | €750 | €1,411 | +€662 | +88.3% |
| Financial income | 75/76B | €2,931 | €1,807 | -€1,124 | -38.4% |
| Recurring financial income | 75 | €2,931 | €1,807 | -€1,124 | -38.4% |
| Financial charges | 65/66B | €2,002 | €1,632 | -€369 | -18.5% |
| Recurring financial charges | 65 | €2,002 | €1,632 | -€369 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €1,678 | €1,586 | -€93 | -5.5% |
| Income taxes | 67/77 | €258 | €586 | +€328 | +127% |
| Profit (loss) for the period | 9904 | €1,421 | €1,000 | -€421 | -29.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,421 | €1,000 | -€421 | -29.6% |
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 14 October 2026 via checked.be.