The Turn: 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 Turn
Largest movements
- Cash -€1,140
down €1,140 (-11.3%), from €10,078 to €8,938
mainly Net result for the year (-€2,099) and Investment in fixed assets (net) (-€0)
- Formation expenses -€134
down €134 (-12.5%), from €1,069 to €935
- Profit (loss) carried forward -€2,099
down €2,099 (-1.0%), from -€216,393 to -€218,492
- Debts after one year +€825
up €825 (+0.4%), from €208,990 to €209,815
- Financial charges +€1,142
up €1,142 (+200.8%), from €569 to €1,711
- Taxes +€254
new in 2025: €254
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 | €11,147 | €9,873 | -€1,274 | -11.4% |
| Formation expenses | 20 | €1,069 | €935 | -€134 | -12.5% |
| Fixed assets | 21/28 | €0 | - | = | |
| Intangible fixed assets | 21 | €0 | - | = | |
| Current assets | 29/58 | €10,078 | €8,938 | -€1,140 | -11.3% |
| Cash at bank and in hand | 54/58 | €10,078 | €8,938 | -€1,140 | -11.3% |
| Total equity and liabilities | 10/49 | €11,147 | €9,873 | -€1,274 | -11.4% |
| Equity | 10/15 | -€197,843 | -€199,942 | -€2,099 | -1.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,393 | -€218,492 | -€2,099 | -1.0% |
| Amounts payable | 17/49 | €208,990 | €209,815 | +€825 | +0.4% |
| Amounts payable after more than one year | 17 | €208,990 | €209,815 | +€825 | +0.4% |
| Other amounts payable | 178/9 | €208,990 | €209,815 | +€825 | +0.4% |
| Turnover | 70 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134 | €134 | +€0 | +0.3% |
| Operating profit (loss) | 9901 | -€134 | -€134 | -€0 | -0.3% |
| Financial charges | 65/66B | €569 | €1,711 | +€1,142 | +200.8% |
| Recurring financial charges | 65 | €569 | €1,711 | +€1,142 | +200.8% |
| Profit (loss) for the period before taxes | 9903 | -€702 | -€1,845 | -€1,143 | -162.7% |
| Income taxes | 67/77 | - | €254 | +€254 | |
| Profit (loss) for the period | 9904 | -€702 | -€2,099 | -€1,397 | -198.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€702 | -€2,099 | -€1,397 | -198.9% |
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.