THEORIE: 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.
THEORIE
Largest movements
- Cash -€18,843
down €18,843 (-86.8%), from €21,704 to €2,861
mainly Receivables within one year (-€15,817) and Net result for the year (-€2,866)
- Receivables within one year +€15,817
up €15,817 (+150.1%), from €10,537 to €26,354
of which Trade receivables: +€14,520
- Tangible fixed assets -€414
down €414 (-38.5%), from €1,077 to €662
- Profit (loss) carried forward -€2,866
new in 2025: -€2,866
- Trade debts -€574
down €574 (-48.3%), from €1,188 to €614
- Gross operating margin -€6,493
down €6,493, from €4,196 to -€2,297
- Taxes -€1,355
down €1,355 (-94.5%), from €1,433 to €78
- Depreciation +€248
up €248 (+149.0%), from €166 to €414
- Financial income +€140
up €140 (+51.5%), from €272 to €413
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 | €33,318 | €29,877 | -€3,440 | -10.3% |
| Fixed assets | 21/28 | €1,077 | €662 | -€414 | -38.5% |
| Tangible fixed assets | 22/27 | €1,077 | €662 | -€414 | -38.5% |
| Plant, machinery and equipment | 23 | €1,077 | €662 | -€414 | -38.5% |
| Current assets | 29/58 | €32,241 | €29,215 | -€3,026 | -9.4% |
| Amounts receivable within one year | 40/41 | €10,537 | €26,354 | +€15,817 | +150.1% |
| Trade receivables | 40 | - | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €10,537 | €11,834 | +€1,297 | +12.3% |
| Cash at bank and in hand | 54/58 | €21,704 | €2,861 | -€18,843 | -86.8% |
| Total equity and liabilities | 10/49 | €33,318 | €29,877 | -€3,440 | -10.3% |
| Equity | 10/15 | €32,130 | €29,263 | -€2,866 | -8.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €30,130 | €30,130 | = | 0.0% |
| Distributable reserves | 133 | €30,130 | €30,130 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,866 | -€2,866 | |
| Amounts payable | 17/49 | €1,188 | €614 | -€574 | -48.3% |
| Amounts payable within one year | 42/48 | €1,188 | €614 | -€574 | -48.3% |
| Trade debts | 44 | €1,188 | €614 | -€574 | -48.3% |
| Suppliers | 440/4 | €1,188 | €614 | -€574 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166 | €414 | +€248 | +149.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €4,196 | -€2,297 | -€6,493 | |
| Operating profit (loss) | 9901 | €3,643 | -€3,111 | -€6,753 | |
| Financial income | 75/76B | €272 | €413 | +€140 | +51.5% |
| Recurring financial income | 75 | €272 | €413 | +€140 | +51.5% |
| Financial charges | 65/66B | €102 | €90 | -€12 | -11.3% |
| Recurring financial charges | 65 | €102 | €90 | -€12 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €3,813 | -€2,788 | -€6,601 | |
| Income taxes | 67/77 | €1,433 | €78 | -€1,355 | -94.5% |
| Profit (loss) for the period | 9904 | €2,380 | -€2,866 | -€5,246 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,380 | -€2,866 | -€5,246 |
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 6 October 2026 via checked.be.