THELAST: 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.
THELAST
Largest movements
- Tangible fixed assets -€6,991
down €6,991 (-4.5%), from €155,827 to €148,836
of which Land and buildings: -€6,117
- Contributions +€25,136
up €25,136 (+21.6%), from €116,139 to €141,275
- Debts after one year -€10,911
down €10,911 (-9.9%), from €110,364 to €99,453
- Tax, wage and social debts -€9,919
down €9,919 (-83.8%), from €11,833 to €1,914
of which Remuneration and social security: -€9,736
- Trade debts -€6,075
down €6,075 (-36.5%), from €16,631 to €10,556
- Profit (loss) carried forward -€5,354
down €5,354 (-5.3%), from -€100,395 to -€105,749
- Other operating charges -€17,414
down €17,414 (-95.4%), from €18,255 to €841
- Purchases and services -€14,811
no longer reported in 2025 (was €14,811)
- Staff costs -€8,395
down €8,395 (-100.0%), from €8,395 to €0
- Turnover -€7,449
no longer reported in 2025 (was €7,449)
- Gross operating margin -€2,086
down €2,086 (-21.7%), from €9,593 to €7,508
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 | €166,569 | €160,450 | -€6,119 | -3.7% |
| Formation expenses | 20 | €10,500 | €10,500 | = | 0.0% |
| Fixed assets | 21/28 | €156,042 | €149,051 | -€6,991 | -4.5% |
| Tangible fixed assets | 22/27 | €155,827 | €148,836 | -€6,991 | -4.5% |
| Land and buildings | 22 | €154,953 | €148,836 | -€6,117 | -3.9% |
| Furniture and vehicles | 24 | €874 | €0 | -€874 | -100.0% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €27 | €899 | +€871 | +3177.0% |
| Amounts receivable within one year | 40/41 | €23 | €899 | +€876 | +3818.7% |
| Other amounts receivable | 41 | €23 | €899 | +€876 | +3818.7% |
| Cash at bank and in hand | 54/58 | €4 | - | -€4 | |
| Total equity and liabilities | 10/49 | €166,569 | €160,450 | -€6,119 | -3.7% |
| Equity | 10/15 | €17,604 | €37,386 | +€19,782 | +112.4% |
| Contributions | 10/11 | €116,139 | €141,275 | +€25,136 | +21.6% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€100,395 | -€105,749 | -€5,354 | -5.3% |
| Amounts payable | 17/49 | €148,965 | €123,064 | -€25,902 | -17.4% |
| Amounts payable after more than one year | 17 | €110,364 | €99,453 | -€10,911 | -9.9% |
| Financial debts | 170/4 | €110,364 | €99,453 | -€10,911 | -9.9% |
| Amounts payable within one year | 42/48 | €38,601 | €23,611 | -€14,991 | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €10,138 | €11,141 | +€1,004 | +9.9% |
| Trade debts | 44 | €16,631 | €10,556 | -€6,075 | -36.5% |
| Suppliers | 440/4 | €16,631 | €10,556 | -€6,075 | -36.5% |
| Taxes, remuneration and social security | 45 | €11,833 | €1,914 | -€9,919 | -83.8% |
| Taxes | 450/3 | €2,097 | €1,914 | -€183 | -8.7% |
| Remuneration and social security | 454/9 | €9,736 | €0 | -€9,736 | -100.0% |
| Turnover | 70 | €7,449 | - | -€7,449 | |
| Goods, raw materials, services and sundry goods | 60/61 | €14,811 | - | -€14,811 | |
| Remuneration, social security and pensions | 62 | €8,395 | €0 | -€8,395 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,707 | €6,991 | -€717 | -9.3% |
| Other operating charges | 640/8 | €18,255 | €841 | -€17,414 | -95.4% |
| Gross operating margin | 9900 | €9,593 | €7,508 | -€2,086 | -21.7% |
| Operating profit (loss) | 9901 | -€24,764 | -€324 | +€24,440 | +98.7% |
| Financial income | 75/76B | €0 | €132 | +€132 | |
| Recurring financial income | 75 | €0 | €132 | +€132 | |
| Financial charges | 65/66B | €5,543 | €5,162 | -€381 | -6.9% |
| Recurring financial charges | 65 | €5,543 | €5,162 | -€381 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,307 | -€5,354 | +€24,953 | +82.3% |
| Profit (loss) for the period | 9904 | -€30,307 | -€5,354 | +€24,953 | +82.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,307 | -€5,354 | +€24,953 | +82.3% |
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 4 October 2026 via checked.be.