THE KEYS: 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 KEYS
Largest movements
- Cash -€41,398
down €41,398 (-51.9%), from €79,728 to €38,330
mainly Net result for the year (-€34,967) and Trade debts (-€6,645)
- Receivables within one year -€3,737
down €3,737 (-31.5%), from €11,866 to €8,129
of which Trade receivables: -€11,866
- Intangible fixed assets -€1,711
down €1,711 (-43.3%), from €3,956 to €2,245
- Profit (loss) carried forward -€34,967
down €34,967, from €11,230 to -€23,737
- Trade debts -€6,645
down €6,645 (-15.6%), from €42,715 to €36,070
- Tax, wage and social debts -€4,213
down €4,213 (-100%), from €4,213 to €0
- Other debts -€2,690
down €2,690 (-15.1%), from €17,810 to €15,120
- Gross operating margin -€33,088
down €33,088, from €4,225 to -€28,864
- Staff costs -€9,189
down €9,189 (-100%), from €9,189 to €0
- Other operating charges +€3,007
up €3,007 (+776%), from €387 to €3,395
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 | €97,969 | €49,454 | -€48,515 | -49.5% |
| Fixed assets | 21/28 | €4,813 | €2,245 | -€2,568 | -53.4% |
| Intangible fixed assets | 21 | €3,956 | €2,245 | -€1,711 | -43.3% |
| Tangible fixed assets | 22/27 | €707 | €0 | -€707 | -100% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €707 | €0 | -€707 | -100% |
| Financial fixed assets | 28 | €150 | €0 | -€150 | -100% |
| Current assets | 29/58 | €93,156 | €47,209 | -€45,947 | -49.3% |
| Amounts receivable within one year | 40/41 | €11,866 | €8,129 | -€3,737 | -31.5% |
| Trade receivables | 40 | €11,866 | €0 | -€11,866 | -100% |
| Other amounts receivable | 41 | - | €8,129 | +€8,129 | |
| Cash at bank and in hand | 54/58 | €79,728 | €38,330 | -€41,398 | -51.9% |
| Deferred charges and accrued income | 490/1 | €1,562 | €749 | -€813 | -52.0% |
| Total equity and liabilities | 10/49 | €97,969 | €49,454 | -€48,515 | -49.5% |
| Equity | 10/15 | €33,230 | -€1,737 | -€34,967 | |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,230 | -€23,737 | -€34,967 | |
| Amounts payable | 17/49 | €64,739 | €51,190 | -€13,548 | -20.9% |
| Amounts payable within one year | 42/48 | €64,739 | €51,190 | -€13,548 | -20.9% |
| Trade debts | 44 | €42,715 | €36,070 | -€6,645 | -15.6% |
| Suppliers | 440/4 | €42,715 | €36,070 | -€6,645 | -15.6% |
| Taxes, remuneration and social security | 45 | €4,213 | €0 | -€4,213 | -100% |
| Taxes | 450/3 | €4,213 | €0 | -€4,213 | -100% |
| Other amounts payable | 47/48 | €17,810 | €15,120 | -€2,690 | -15.1% |
| Remuneration, social security and pensions | 62 | €9,189 | €0 | -€9,189 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,700 | €2,418 | -€282 | -10.4% |
| Other operating charges | 640/8 | €387 | €3,395 | +€3,007 | +776% |
| Gross operating margin | 9900 | €4,225 | -€28,864 | -€33,088 | |
| Operating profit (loss) | 9901 | -€8,051 | -€34,677 | -€26,625 | -331% |
| Financial income | 75/76B | €14 | €0 | -€14 | -100% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100% |
| Financial charges | 65/66B | €176 | €290 | +€114 | +64.7% |
| Recurring financial charges | 65 | €176 | €140 | -€36 | -20.4% |
| Non-recurring financial charges | 66B | - | €150 | +€150 | |
| Profit (loss) for the period before taxes | 9903 | -€8,214 | -€34,967 | -€26,753 | -326% |
| Income taxes | 67/77 | €4 | €0 | -€4 | -100% |
| Profit (loss) for the period | 9904 | -€8,218 | -€34,967 | -€26,749 | -325% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,218 | -€34,967 | -€26,749 | -325% |
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.