THE WORKS: 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 WORKS
Largest movements
- Stocks and contracts -€8,826
down €8,826 (-27.3%), from €32,367 to €23,541
- Receivables within one year -€2,111
down €2,111 (-26.8%), from €7,888 to €5,777
of which Trade receivables: -€2,972
- Cash +€963
up €963 (+2,542%), from €38 to €1,001
mainly Stocks and contracts (+€8,826) and Other debts (+€7,412)
- Profit (loss) carried forward -€18,588
down €18,588, from €3,779 to -€14,809
- Other debts +€7,412
up €7,412 (+9,769%), from €76 to €7,488
- Trade debts -€2,887
down €2,887 (-28.7%), from €10,072 to €7,185
- Tax, wage and social debts +€2,780
up €2,780 (+33.2%), from €8,364 to €11,144
- Short-term financial debts +€1,068
up €1,068 (+45.6%), from €2,342 to €3,410
- Gross operating margin +€3,144
up €3,144 (+16.0%), from -€19,618 to -€16,474
- Other operating charges +€594
up €594 (+107%), from €555 to €1,150
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 | €45,093 | €35,119 | -€9,974 | -22.1% |
| Fixed assets | 21/28 | €4,800 | €4,800 | = | 0.0% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €40,293 | €30,319 | -€9,974 | -24.8% |
| Stocks and contracts in progress | 3 | €32,367 | €23,541 | -€8,826 | -27.3% |
| Stocks | 30/36 | €32,367 | €23,541 | -€8,826 | -27.3% |
| Amounts receivable within one year | 40/41 | €7,888 | €5,777 | -€2,111 | -26.8% |
| Trade receivables | 40 | €7,758 | €4,786 | -€2,972 | -38.3% |
| Other amounts receivable | 41 | €130 | €991 | +€861 | +662% |
| Cash at bank and in hand | 54/58 | €38 | €1,001 | +€963 | +2,542% |
| Total equity and liabilities | 10/49 | €45,093 | €35,119 | -€9,974 | -22.1% |
| Equity | 10/15 | €24,239 | €5,651 | -€18,588 | -76.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,779 | -€14,809 | -€18,588 | |
| Amounts payable | 17/49 | €20,854 | €29,468 | +€8,614 | +41.3% |
| Amounts payable within one year | 42/48 | €20,854 | €29,227 | +€8,373 | +40.1% |
| Financial debts | 43 | €2,342 | €3,410 | +€1,068 | +45.6% |
| Credit institutions | 430/8 | €2,342 | €3,410 | +€1,068 | +45.6% |
| Trade debts | 44 | €10,072 | €7,185 | -€2,887 | -28.7% |
| Suppliers | 440/4 | €10,072 | €7,185 | -€2,887 | -28.7% |
| Taxes, remuneration and social security | 45 | €8,364 | €11,144 | +€2,780 | +33.2% |
| Taxes | 450/3 | €8,364 | €11,144 | +€2,780 | +33.2% |
| Other amounts payable | 47/48 | €76 | €7,488 | +€7,412 | +9,769% |
| Accrued charges and deferred income | 492/3 | - | €242 | +€242 | |
| Other operating charges | 640/8 | €555 | €1,150 | +€594 | +107% |
| Gross operating margin | 9900 | -€19,618 | -€16,474 | +€3,144 | +16.0% |
| Operating profit (loss) | 9901 | -€20,173 | -€17,623 | +€2,550 | +12.6% |
| Financial income | 75/76B | €8 | €1 | -€7 | -89.1% |
| Recurring financial income | 75 | €8 | €1 | -€7 | -89.1% |
| Financial charges | 65/66B | €962 | €966 | +€4 | +0.4% |
| Recurring financial charges | 65 | €962 | €966 | +€4 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€21,127 | -€18,588 | +€2,539 | +12.0% |
| Profit (loss) for the period | 9904 | -€21,127 | -€18,588 | +€2,539 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,127 | -€18,588 | +€2,539 | +12.0% |
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 25 October 2026 via checked.be.