THE LOOK: what changed
Two fiscal 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 LOOK
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-28.6%), from €52,500 to €37,500
- Tangible fixed assets -€3,539
down €3,539 (-28.3%), from €12,511 to €8,972
- Receivables within one year -€2,003
down €2,003 (-100.0%), from €2,003 to €0
of which Other amounts receivable: -€2,000
- Profit (loss) carried forward -€32,866
down €32,866 (-87.4%), from -€37,603 to -€70,469
- Debts after one year +€9,623
up €9,623 (+26.0%), from €37,040 to €46,663
- Trade debts +€5,226
up €5,226, from €0 to €5,226
- Tax, wage and social debts -€1,180
down €1,180 (-100.0%), from €1,180 to €0
of which Taxes: -€1,002
- Reserves -€887
down €887 (-1.3%), from €65,905 to €65,018
of which Distributable reserves: -€887
- Gross operating margin -€86,400
down €86,400, from €75,189 to -€11,211
- Staff costs -€62,516
down €62,516 (-95.4%), from €65,527 to €3,012
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.
Cash bridge derived
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 | €72,722 | €52,637 | -€20,084 | -27.6% |
| Fixed assets | 21/28 | €65,011 | €46,472 | -€18,539 | -28.5% |
| Intangible fixed assets | 21 | €52,500 | €37,500 | -€15,000 | -28.6% |
| Tangible fixed assets | 22/27 | €12,511 | €8,972 | -€3,539 | -28.3% |
| Land and buildings | 22 | €7,512 | €5,769 | -€1,743 | -23.2% |
| Plant, machinery and equipment | 23 | €3,973 | €2,602 | -€1,371 | -34.5% |
| Furniture and vehicles | 24 | €1,026 | €602 | -€425 | -41.4% |
| Current assets | 29/58 | €7,711 | €6,165 | -€1,545 | -20.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,003 | €0 | -€2,003 | -100.0% |
| Trade receivables | 40 | €3 | €0 | -€3 | -100.0% |
| Other amounts receivable | 41 | €2,000 | €0 | -€2,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,707 | €6,165 | +€458 | +8.0% |
| Total equity and liabilities | 10/49 | €72,722 | €52,637 | -€20,084 | -27.6% |
| Equity | 10/15 | €34,502 | €748 | -€33,754 | -97.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,905 | €65,018 | -€887 | -1.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €64,045 | €63,158 | -€887 | -1.4% |
| Profit (loss) carried forward | 14 | -€37,603 | -€70,469 | -€32,866 | -87.4% |
| Amounts payable | 17/49 | €38,220 | €51,889 | +€13,669 | +35.8% |
| Amounts payable after more than one year | 17 | €37,040 | €46,663 | +€9,623 | +26.0% |
| Other amounts payable | 178/9 | €37,040 | €46,663 | +€9,623 | +26.0% |
| Amounts payable within one year | 42/48 | €1,180 | €5,226 | +€4,046 | +343.0% |
| Trade debts | 44 | €0 | €5,226 | +€5,226 | |
| Suppliers | 440/4 | €0 | €5,226 | +€5,226 | |
| Taxes, remuneration and social security | 45 | €1,180 | €0 | -€1,180 | -100.0% |
| Taxes | 450/3 | €1,002 | €0 | -€1,002 | -100.0% |
| Remuneration and social security | 454/9 | €177 | €0 | -€177 | -100.0% |
| Remuneration, social security and pensions | 62 | €65,527 | €3,012 | -€62,516 | -95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,973 | €18,539 | -€434 | -2.3% |
| Other operating charges | 640/8 | €912 | €932 | +€20 | +2.2% |
| Gross operating margin | 9900 | €75,189 | -€11,211 | -€86,400 | |
| Operating profit (loss) | 9901 | -€10,223 | -€33,693 | -€23,470 | -229.6% |
| Financial income | 75/76B | €164 | €35 | -€129 | -78.4% |
| Recurring financial income | 75 | €164 | €35 | -€129 | -78.4% |
| Financial charges | 65/66B | €374 | €96 | -€278 | -74.3% |
| Recurring financial charges | 65 | €374 | €96 | -€278 | -74.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,433 | -€33,754 | -€23,321 | -223.5% |
| Profit (loss) for the period | 9904 | -€10,433 | -€33,754 | -€23,321 | -223.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,433 | -€33,754 | -€23,321 | -223.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.