THE OUTSIDER ACTIVITY: 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 OUTSIDER ACTIVITY
Largest movements
- Cash -€42,765
down €42,765 (-44.1%), from €97,021 to €54,256
mainly Net result for the year (-€54,309) and Investment in fixed assets (net) (-€51,120)
- Receivables within one year +€24,788
up €24,788 (+71.7%), from €34,553 to €59,341
of which Other amounts receivable: +€27,484
- Tangible fixed assets -€17,440
down €17,440 (-8.8%), from €197,694 to €180,253
of which Leasing and similar rights: -€14,600
- Deferred charges and accrued income -€10,913
down €10,913 (-78.0%), from €13,985 to €3,073
- Intangible fixed assets -€7,670
down €7,670 (-15.7%), from €48,951 to €41,281
- Profit (loss) carried forward -€54,309
down €54,309 (-73.5%), from -€73,912 to -€128,221
- Tax, wage and social debts -€4,097
down €4,097 (-43.4%), from €9,439 to €5,342
of which Remuneration and social security: -€3,182
- Trade debts +€4,070
up €4,070 (+11.2%), from €36,313 to €40,384
- Gross operating margin -€131,721
down €131,721 (-47.6%), from €277,005 to €145,284
- Staff costs -€55,178
down €55,178 (-33.8%), from €163,251 to €108,073
- Financial charges -€3,209
down €3,209 (-25.5%), from €12,591 to €9,382
- Depreciation -€3,155
down €3,155 (-3.9%), from €80,256 to €77,102
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 | €393,075 | €338,204 | -€54,871 | -14.0% |
| Formation expenses | 20 | €871 | €0 | -€871 | -100% |
| Fixed assets | 21/28 | €246,645 | €221,534 | -€25,111 | -10.2% |
| Intangible fixed assets | 21 | €48,951 | €41,281 | -€7,670 | -15.7% |
| Tangible fixed assets | 22/27 | €197,694 | €180,253 | -€17,440 | -8.8% |
| Land and buildings | 22 | €20,310 | €17,116 | -€3,195 | -15.7% |
| Plant, machinery and equipment | 23 | €49,183 | €40,200 | -€8,983 | -18.3% |
| Furniture and vehicles | 24 | €93,374 | €102,711 | +€9,337 | +10.0% |
| Leasing and similar rights | 25 | €34,827 | €20,227 | -€14,600 | -41.9% |
| Current assets | 29/58 | €145,559 | €116,670 | -€28,889 | -19.8% |
| Amounts receivable within one year | 40/41 | €34,553 | €59,341 | +€24,788 | +71.7% |
| Trade receivables | 40 | €17,331 | €14,635 | -€2,695 | -15.6% |
| Other amounts receivable | 41 | €17,222 | €44,706 | +€27,484 | +160% |
| Cash at bank and in hand | 54/58 | €97,021 | €54,256 | -€42,765 | -44.1% |
| Deferred charges and accrued income | 490/1 | €13,985 | €3,073 | -€10,913 | -78.0% |
| Total equity and liabilities | 10/49 | €393,075 | €338,204 | -€54,871 | -14.0% |
| Equity | 10/15 | €162,088 | €107,779 | -€54,309 | -33.5% |
| Contributions | 10/11 | €236,000 | €236,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,912 | -€128,221 | -€54,309 | -73.5% |
| Amounts payable | 17/49 | €230,987 | €230,425 | -€562 | -0.2% |
| Amounts payable after more than one year | 17 | €125,161 | €127,210 | +€2,049 | +1.6% |
| Financial debts | 170/4 | €125,161 | €127,210 | +€2,049 | +1.6% |
| Amounts payable within one year | 42/48 | €105,827 | €103,215 | -€2,611 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €59,392 | €56,807 | -€2,585 | -4.4% |
| Trade debts | 44 | €36,313 | €40,384 | +€4,070 | +11.2% |
| Suppliers | 440/4 | €36,313 | €40,384 | +€4,070 | +11.2% |
| Taxes, remuneration and social security | 45 | €9,439 | €5,342 | -€4,097 | -43.4% |
| Taxes | 450/3 | €1,134 | €220 | -€915 | -80.6% |
| Remuneration and social security | 454/9 | €8,304 | €5,122 | -€3,182 | -38.3% |
| Other amounts payable | 47/48 | €683 | €683 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €163,251 | €108,073 | -€55,178 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,256 | €77,102 | -€3,155 | -3.9% |
| Other operating charges | 640/8 | €6,975 | €6,293 | -€682 | -9.8% |
| Gross operating margin | 9900 | €277,005 | €145,284 | -€131,721 | -47.6% |
| Operating profit (loss) | 9901 | €26,523 | -€46,183 | -€72,706 | |
| Financial income | 75/76B | €504 | €1,256 | +€752 | +149% |
| Recurring financial income | 75 | €504 | €1,256 | +€752 | +149% |
| Financial charges | 65/66B | €12,591 | €9,382 | -€3,209 | -25.5% |
| Recurring financial charges | 65 | €12,591 | €9,382 | -€3,209 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €14,436 | -€54,309 | -€68,745 | |
| Profit (loss) for the period | 9904 | €14,436 | -€54,309 | -€68,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,436 | -€54,309 | -€68,745 |
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 18 October 2026 via checked.be.