THE MOVEMENT: 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 MOVEMENT
Largest movements
- Cash -€10,706
down €10,706 (-13.9%), from €77,224 to €66,519
mainly Debts after one year (-€11,131) and Receivables within one year (-€8,601)
- Receivables within one year +€8,601
up €8,601 (+202%), from €4,256 to €12,857
of which Trade receivables: +€9,780
- Tangible fixed assets -€8,349
down €8,349 (-25.0%), from €33,396 to €25,047
- Debts after one year -€11,131
down €11,131 (-70.3%), from €15,823 to €4,692
- Financial income -€16,312
down €16,312 (-95.7%), from €17,051 to €738
of which Financial income: -€16,726
- Gross operating margin +€1,664
up €1,664 (+20.3%), from €8,191 to €9,855
- Taxes -€1,308
down €1,308 (-92.0%), from €1,422 to €113
- Financial charges -€179
down €179 (-33.3%), from €538 to €359
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 | €135,526 | €125,072 | -€10,454 | -7.7% |
| Fixed assets | 21/28 | €54,046 | €45,697 | -€8,349 | -15.4% |
| Tangible fixed assets | 22/27 | €33,396 | €25,047 | -€8,349 | -25.0% |
| Furniture and vehicles | 24 | €33,396 | €25,047 | -€8,349 | -25.0% |
| Financial fixed assets | 28 | €20,650 | €20,650 | = | 0.0% |
| Current assets | 29/58 | €81,480 | €79,375 | -€2,105 | -2.6% |
| Amounts receivable within one year | 40/41 | €4,256 | €12,857 | +€8,601 | +202% |
| Trade receivables | 40 | €3,077 | €12,857 | +€9,780 | +318% |
| Other amounts receivable | 41 | €1,180 | - | -€1,180 | |
| Cash at bank and in hand | 54/58 | €77,224 | €66,519 | -€10,706 | -13.9% |
| Total equity and liabilities | 10/49 | €135,526 | €125,072 | -€10,454 | -7.7% |
| Equity | 10/15 | €100,791 | €101,924 | +€1,134 | +1.1% |
| Contributions | 10/11 | €6,201 | €6,201 | = | 0.0% |
| Reserves | 13 | €94,590 | €95,724 | +€1,134 | +1.2% |
| Distributable reserves | 133 | €94,590 | €95,724 | +€1,134 | +1.2% |
| Amounts payable | 17/49 | €34,736 | €23,148 | -€11,588 | -33.4% |
| Amounts payable after more than one year | 17 | €15,823 | €4,692 | -€11,131 | -70.3% |
| Financial debts | 170/4 | €15,823 | €4,692 | -€11,131 | -70.3% |
| Amounts payable within one year | 42/48 | €18,913 | €18,456 | -€457 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €10,949 | €11,131 | +€182 | +1.7% |
| Trade debts | 44 | €452 | €473 | +€22 | +4.8% |
| Suppliers | 440/4 | €452 | €473 | +€22 | +4.8% |
| Taxes, remuneration and social security | 45 | €2,830 | €3,176 | +€346 | +12.2% |
| Taxes | 450/3 | €2,830 | €3,176 | +€346 | +12.2% |
| Other amounts payable | 47/48 | €4,682 | €3,675 | -€1,007 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,349 | €8,349 | = | 0.0% |
| Other operating charges | 640/8 | €714 | €638 | -€76 | -10.7% |
| Gross operating margin | 9900 | €8,191 | €9,855 | +€1,664 | +20.3% |
| Operating profit (loss) | 9901 | -€873 | €868 | +€1,740 | |
| Financial income | 75/76B | €17,051 | €738 | -€16,312 | -95.7% |
| Recurring financial income | 75 | €17,051 | €325 | -€16,726 | -98.1% |
| Non-recurring financial income | 76B | - | €413 | +€413 | |
| Financial charges | 65/66B | €538 | €359 | -€179 | -33.3% |
| Recurring financial charges | 65 | €538 | €359 | -€179 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €15,640 | €1,247 | -€14,393 | -92.0% |
| Income taxes | 67/77 | €1,422 | €113 | -€1,308 | -92.0% |
| Profit (loss) for the period | 9904 | €14,218 | €1,134 | -€13,084 | -92.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,218 | €1,134 | -€13,084 | -92.0% |
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.