The Winning Solution: 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 Winning Solution
Largest movements
- Tangible fixed assets -€12,502
down €12,502 (-21.2%), from €58,938 to €46,436
of which Furniture and vehicles: -€9,502
- Receivables within one year -€6,197
down €6,197 (-8.4%), from €73,941 to €67,744
of which Trade receivables: -€38,796
- Deferred charges and accrued income +€1,816
up €1,816 (+159.3%), from €1,140 to €2,956
- Trade debts -€30,400
down €30,400 (-96.3%), from €31,582 to €1,182
- Tax, wage and social debts +€16,418
up €16,418 (+74.4%), from €22,054 to €38,473
of which Taxes: +€9,864
- Debts after one year -€7,239
down €7,239 (-48.3%), from €15,000 to €7,761
- Current portion of long-term debt -€5,247
no longer reported in 2025 (was €5,247)
- Short-term financial debts +€4,971
new in 2025: €4,971
- Gross operating margin +€45,385
up €45,385 (+187.3%), from €24,229 to €69,614
- Purchases and services +€35,931
new in 2025: €35,931
- Staff costs +€31,466
up €31,466 (+580.6%), from €5,420 to €36,886
- Depreciation +€8,368
up €8,368 (+67.6%), from €12,383 to €20,752
- Financial charges +€5,553
up €5,553 (+813.3%), from €683 to €6,236
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 | €167,089 | €149,676 | -€17,413 | -10.4% |
| Fixed assets | 21/28 | €61,638 | €49,136 | -€12,502 | -20.3% |
| Tangible fixed assets | 22/27 | €58,938 | €46,436 | -€12,502 | -21.2% |
| Plant, machinery and equipment | 23 | €29,750 | €26,750 | -€3,000 | -10.1% |
| Furniture and vehicles | 24 | €29,188 | €19,686 | -€9,502 | -32.6% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €105,451 | €100,540 | -€4,911 | -4.7% |
| Stocks and contracts in progress | 3 | €19,850 | €19,850 | = | 0.0% |
| Stocks | 30/36 | €19,850 | €19,850 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,941 | €67,744 | -€6,197 | -8.4% |
| Trade receivables | 40 | €73,941 | €35,144 | -€38,796 | -52.5% |
| Other amounts receivable | 41 | - | €32,599 | +€32,599 | |
| Cash at bank and in hand | 54/58 | €10,521 | €9,991 | -€530 | -5.0% |
| Deferred charges and accrued income | 490/1 | €1,140 | €2,956 | +€1,816 | +159.3% |
| Total equity and liabilities | 10/49 | €167,089 | €149,676 | -€17,413 | -10.4% |
| Equity | 10/15 | €93,188 | €97,271 | +€4,084 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,588 | €78,671 | +€4,084 | +5.5% |
| Amounts payable | 17/49 | €73,901 | €52,405 | -€21,496 | -29.1% |
| Amounts payable after more than one year | 17 | €15,000 | €7,761 | -€7,239 | -48.3% |
| Financial debts | 170/4 | €15,000 | €7,761 | -€7,239 | -48.3% |
| Amounts payable within one year | 42/48 | €58,901 | €44,644 | -€14,258 | -24.2% |
| Current portion of amounts payable after more than one year | 42 | €5,247 | - | -€5,247 | |
| Financial debts | 43 | - | €4,971 | +€4,971 | |
| Credit institutions | 430/8 | - | €4,971 | +€4,971 | |
| Trade debts | 44 | €31,582 | €1,182 | -€30,400 | -96.3% |
| Suppliers | 440/4 | €31,582 | €1,182 | -€30,400 | -96.3% |
| Taxes, remuneration and social security | 45 | €22,054 | €38,473 | +€16,418 | +74.4% |
| Taxes | 450/3 | €19,413 | €29,277 | +€9,864 | +50.8% |
| Remuneration and social security | 454/9 | €2,642 | €9,196 | +€6,554 | +248.1% |
| Other amounts payable | 47/48 | €18 | €18 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,529 | +€2,529 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €35,931 | +€35,931 | |
| Remuneration, social security and pensions | 62 | €5,420 | €36,886 | +€31,466 | +580.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,383 | €20,752 | +€8,368 | +67.6% |
| Other operating charges | 640/8 | €3,604 | €1,656 | -€1,948 | -54.0% |
| Gross operating margin | 9900 | €24,229 | €69,614 | +€45,385 | +187.3% |
| Operating profit (loss) | 9901 | €2,822 | €10,320 | +€7,498 | +265.7% |
| Financial charges | 65/66B | €683 | €6,236 | +€5,553 | +813.3% |
| Recurring financial charges | 65 | €683 | €6,236 | +€5,553 | +813.3% |
| Profit (loss) for the period before taxes | 9903 | €2,139 | €4,084 | +€1,945 | +90.9% |
| Profit (loss) for the period | 9904 | €2,139 | €4,084 | +€1,945 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,139 | €4,084 | +€1,945 | +90.9% |
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 5 October 2026 via checked.be.