The Game Changer: 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 Game Changer
Largest movements
- Cash -€86,968
down €86,968 (-96.9%), from €89,776 to €2,808
mainly Advances received (-€83,775) and Net result for the year (-€77,431)
- Tangible fixed assets -€2,667
down €2,667 (-26.7%), from €9,988 to €7,321
- Deferred charges and accrued income -€2,020
down €2,020 (-52.4%), from €3,856 to €1,836
- Stocks and contracts -€2,000
down €2,000 (-100%), from €2,000 to €0
- Other debts +€86,921
up €86,921 (+40.5%), from €214,861 to €301,782
- Advances received -€83,775
down €83,775 (-58.8%), from €142,353 to €58,578
- Profit (loss) carried forward -€77,431
down €77,431 (-26.5%), from -€292,272 to -€369,703
- Tax, wage and social debts -€10,224
down €10,224 (-83.6%), from €12,228 to €2,004
of which Taxes: -€7,911
- Trade debts -€9,147
down €9,147 (-32.3%), from €28,358 to €19,211
- Staff costs -€35,898
down €35,898 (-73.8%), from €48,662 to €12,764
- Gross operating margin -€29,614
down €29,614 (-97.9%), from -€30,234 to -€59,848
- Other operating charges -€5,066
down €5,066 (-79.4%), from €6,382 to €1,316
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 | €119,527 | €25,872 | -€93,655 | -78.4% |
| Fixed assets | 21/28 | €10,415 | €7,748 | -€2,667 | -25.6% |
| Tangible fixed assets | 22/27 | €9,988 | €7,321 | -€2,667 | -26.7% |
| Plant, machinery and equipment | 23 | €9,988 | €7,321 | -€2,667 | -26.7% |
| Financial fixed assets | 28 | €427 | €427 | = | 0.0% |
| Current assets | 29/58 | €109,111 | €18,124 | -€90,988 | -83.4% |
| Stocks and contracts in progress | 3 | €2,000 | €0 | -€2,000 | -100% |
| Stocks | 30/36 | €2,000 | €0 | -€2,000 | -100% |
| Amounts receivable within one year | 40/41 | €13,479 | €13,479 | = | 0.0% |
| Other amounts receivable | 41 | €13,479 | €13,479 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,776 | €2,808 | -€86,968 | -96.9% |
| Deferred charges and accrued income | 490/1 | €3,856 | €1,836 | -€2,020 | -52.4% |
| Total equity and liabilities | 10/49 | €119,527 | €25,872 | -€93,655 | -78.4% |
| Equity | 10/15 | -€278,272 | -€355,703 | -€77,431 | -27.8% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,272 | -€369,703 | -€77,431 | -26.5% |
| Amounts payable | 17/49 | €397,799 | €381,575 | -€16,224 | -4.1% |
| Amounts payable within one year | 42/48 | €397,799 | €381,575 | -€16,224 | -4.1% |
| Trade debts | 44 | €28,358 | €19,211 | -€9,147 | -32.3% |
| Suppliers | 440/4 | €28,358 | €19,211 | -€9,147 | -32.3% |
| Advances received on contracts in progress | 46 | €142,353 | €58,578 | -€83,775 | -58.8% |
| Taxes, remuneration and social security | 45 | €12,228 | €2,004 | -€10,224 | -83.6% |
| Taxes | 450/3 | €9,915 | €2,004 | -€7,911 | -79.8% |
| Remuneration and social security | 454/9 | €2,313 | €0 | -€2,313 | -100% |
| Other amounts payable | 47/48 | €214,861 | €301,782 | +€86,921 | +40.5% |
| Remuneration, social security and pensions | 62 | €48,662 | €12,764 | -€35,898 | -73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,667 | €2,667 | = | 0.0% |
| Other operating charges | 640/8 | €6,382 | €1,316 | -€5,066 | -79.4% |
| Gross operating margin | 9900 | -€30,234 | -€59,848 | -€29,614 | -97.9% |
| Operating profit (loss) | 9901 | -€87,945 | -€76,596 | +€11,350 | +12.9% |
| Financial charges | 65/66B | €609 | €836 | +€227 | +37.2% |
| Recurring financial charges | 65 | €609 | €836 | +€227 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | -€88,554 | -€77,431 | +€11,123 | +12.6% |
| Profit (loss) for the period | 9904 | -€88,554 | -€77,431 | +€11,123 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,554 | -€77,431 | +€11,123 | +12.6% |
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 30 October 2026 via checked.be.