THEAPP: 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.
THEAPP
Largest movements
- Cash -€407
down €407 (-25.0%), from €1,626 to €1,219
mainly Net result for the year (-€854) and Receivables within one year (-€385)
- Receivables within one year +€385
up €385 (+11.5%), from €3,346 to €3,731
- Profit (loss) carried forward -€854
down €854 (-7.3%), from -€11,649 to -€12,503
- Other debts +€801
up €801 (+15.9%), from €5,037 to €5,838
- Gross operating margin +€9,191
up €9,191 (+96.1%), from -€9,564 to -€373
- Depreciation -€1,191
no longer reported in 2025 (was €1,191)
- Other operating charges -€352
down €352 (-45.6%), from €772 to €420
- Financial charges -€103
down €103 (-61.9%), from €167 to €64
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 | €4,972 | €4,950 | -€22 | -0.4% |
| Current assets | 29/58 | €4,972 | €4,950 | -€22 | -0.4% |
| Amounts receivable within one year | 40/41 | €3,346 | €3,731 | +€385 | +11.5% |
| Other amounts receivable | 41 | €3,346 | €3,731 | +€385 | +11.5% |
| Cash at bank and in hand | 54/58 | €1,626 | €1,219 | -€407 | -25.0% |
| Total equity and liabilities | 10/49 | €4,972 | €4,950 | -€22 | -0.4% |
| Equity | 10/15 | -€1,649 | -€2,503 | -€854 | -51.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | -€11,649 | -€12,503 | -€854 | -7.3% |
| Amounts payable | 17/49 | €6,621 | €7,453 | +€832 | +12.6% |
| Amounts payable within one year | 42/48 | €6,621 | €7,453 | +€832 | +12.6% |
| Trade debts | 44 | €1,584 | €1,615 | +€31 | +2.0% |
| Suppliers | 440/4 | €1,584 | €1,615 | +€31 | +2.0% |
| Other amounts payable | 47/48 | €5,037 | €5,838 | +€801 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,191 | - | -€1,191 | |
| Other operating charges | 640/8 | €772 | €420 | -€352 | -45.6% |
| Gross operating margin | 9900 | -€9,564 | -€373 | +€9,191 | +96.1% |
| Operating profit (loss) | 9901 | -€11,528 | -€793 | +€10,734 | +93.1% |
| Financial income | 75/76B | €45 | €3 | -€42 | -93.3% |
| Recurring financial income | 75 | €45 | €3 | -€42 | -93.3% |
| Financial charges | 65/66B | €167 | €64 | -€103 | -61.9% |
| Recurring financial charges | 65 | €167 | €64 | -€103 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | -€11,649 | -€854 | +€10,796 | +92.7% |
| Profit (loss) for the period | 9904 | -€11,649 | -€854 | +€10,796 | +92.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,649 | -€854 | +€10,796 | +92.7% |
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 29 September 2026 via checked.be.