THE GREEN: 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 GREEN
Largest movements
- Current investments -€2.5m
down €2.5m (-100%), from €2.5m to €0
- Receivables within one year -€2.0m
down €2.0m (-99.2%), from €2.0m to €16,313
of which Trade receivables: -€1.5m
- Cash +€1.3m
up €1.3m (+384%), from €330,847 to €1.6m
mainly Current investments (+€2.5m) and Receivables within one year (+€2.0m)
- Stocks and contracts -€277,293
down €277,293 (-100%), from €277,293 to €0
- Other debts -€4.6m
down €4.6m (-100%), from €4.6m to €0
- Profit (loss) carried forward +€809,016
up €809,016 (+398%), from €203,462 to €1.0m
- Tax, wage and social debts +€136,033
up €136,033 (+86.1%), from €158,016 to €294,049
- Trade debts +€121,128
up €121,128 (+561%), from €21,577 to €142,705
- Gross operating margin -€5.1m
down €5.1m (-81.4%), from €6.2m to €1.2m
- Taxes -€1.3m
down €1.3m (-81.3%), from €1.6m to €298,459
- Financial income -€121,732
down €121,732 (-74.5%), from €163,372 to €41,640
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 | €5,153,491 | €1,619,232 | -€3.5m | -68.6% |
| Current assets | 29/58 | €5,153,491 | €1,619,232 | -€3.5m | -68.6% |
| Stocks and contracts in progress | 3 | €277,293 | €0 | -€277,293 | -100% |
| Stocks | 30/36 | €277,293 | €0 | -€277,293 | -100% |
| Amounts receivable within one year | 40/41 | €2,043,900 | €16,313 | -€2.0m | -99.2% |
| Trade receivables | 40 | €1,468,488 | €16,313 | -€1.5m | -98.9% |
| Other amounts receivable | 41 | €575,411 | €0 | -€575,411 | -100% |
| Current investments | 50/53 | €2,500,000 | €0 | -€2.5m | -100% |
| Cash at bank and in hand | 54/58 | €330,847 | €1,602,919 | +€1.3m | +384% |
| Deferred charges and accrued income | 490/1 | €1,451 | €0 | -€1,451 | -100% |
| Total equity and liabilities | 10/49 | €5,153,491 | €1,619,232 | -€3.5m | -68.6% |
| Equity | 10/15 | €373,462 | €1,182,478 | +€809,016 | +217% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,462 | €1,012,478 | +€809,016 | +398% |
| Amounts payable | 17/49 | €4,780,028 | €436,754 | -€4.3m | -90.9% |
| Amounts payable within one year | 42/48 | €4,779,593 | €436,754 | -€4.3m | -90.9% |
| Trade debts | 44 | €21,577 | €142,705 | +€121,128 | +561% |
| Suppliers | 440/4 | €21,577 | €142,705 | +€121,128 | +561% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €158,016 | €294,049 | +€136,033 | +86.1% |
| Taxes | 450/3 | €158,016 | €294,049 | +€136,033 | +86.1% |
| Other amounts payable | 47/48 | €4,600,000 | €0 | -€4.6m | -100% |
| Accrued charges and deferred income | 492/3 | €435 | €0 | -€435 | -100% |
| Other operating charges | 640/8 | €1,179 | €1,214 | +€36 | +3.0% |
| Non-recurring operating charges | 66A | - | €84,916 | +€84,916 | |
| Gross operating margin | 9900 | €6,211,665 | €1,153,137 | -€5.1m | -81.4% |
| Operating profit (loss) | 9901 | €6,210,487 | €1,067,007 | -€5.1m | -82.8% |
| Financial income | 75/76B | €163,372 | €41,640 | -€121,732 | -74.5% |
| Recurring financial income | 75 | €163,372 | €41,640 | -€121,732 | -74.5% |
| Financial charges | 65/66B | €269 | €1,173 | +€904 | +336% |
| Recurring financial charges | 65 | €269 | €1,173 | +€904 | +336% |
| Profit (loss) for the period before taxes | 9903 | €6,373,590 | €1,107,475 | -€5.3m | -82.6% |
| Income taxes | 67/77 | €1,593,397 | €298,459 | -€1.3m | -81.3% |
| Profit (loss) for the period | 9904 | €4,780,192 | €809,016 | -€4.0m | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,780,192 | €809,016 | -€4.0m | -83.1% |
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 23 October 2026 via checked.be.