Think Forward: 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.
Think Forward
Largest movements
- Cash -€83,170
down €83,170 (-43.7%), from €190,145 to €106,975
mainly Net result for the year (-€73,848) and Tax, wage and social debts (-€5,749)
- Profit (loss) carried forward -€74,681
down €74,681 (-43.4%), from €172,023 to €97,342
- Tax, wage and social debts -€5,749
down €5,749 (-97.5%), from €5,896 to €148
- Gross operating margin -€43,342
down €43,342 (-150%), from -€28,976 to -€72,318
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 | €195,330 | €112,583 | -€82,748 | -42.4% |
| Fixed assets | 21/28 | €3,351 | €2,455 | -€896 | -26.7% |
| Tangible fixed assets | 22/27 | €3,351 | €2,455 | -€896 | -26.7% |
| Plant, machinery and equipment | 23 | €2,144 | €1,797 | -€347 | -16.2% |
| Furniture and vehicles | 24 | €1,206 | €657 | -€549 | -45.5% |
| Current assets | 29/58 | €191,980 | €110,128 | -€81,852 | -42.6% |
| Amounts receivable within one year | 40/41 | €1,588 | €2,610 | +€1,022 | +64.4% |
| Trade receivables | 40 | €944 | €1,452 | +€508 | +53.8% |
| Other amounts receivable | 41 | €644 | €1,158 | +€514 | +79.8% |
| Cash at bank and in hand | 54/58 | €190,145 | €106,975 | -€83,170 | -43.7% |
| Deferred charges and accrued income | 490/1 | €247 | €543 | +€297 | +120% |
| Total equity and liabilities | 10/49 | €195,330 | €112,583 | -€82,748 | -42.4% |
| Equity | 10/15 | €186,283 | €111,602 | -€74,681 | -40.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,023 | €97,342 | -€74,681 | -43.4% |
| Amounts payable | 17/49 | €9,047 | €981 | -€8,067 | -89.2% |
| Amounts payable within one year | 42/48 | €9,047 | €981 | -€8,067 | -89.2% |
| Trade debts | 44 | €1,761 | €0 | -€1,761 | -100% |
| Suppliers | 440/4 | €1,761 | €0 | -€1,761 | -100% |
| Taxes, remuneration and social security | 45 | €5,896 | €148 | -€5,749 | -97.5% |
| Taxes | 450/3 | €5,896 | €148 | -€5,749 | -97.5% |
| Other amounts payable | 47/48 | €1,390 | €833 | -€557 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,067 | €896 | -€171 | -16.0% |
| Other operating charges | 640/8 | €433 | €446 | +€12 | +2.9% |
| Gross operating margin | 9900 | -€28,976 | -€72,318 | -€43,342 | -150% |
| Operating profit (loss) | 9901 | -€30,476 | -€73,660 | -€43,183 | -142% |
| Financial income | 75/76B | €0 | €172 | +€172 | +429,025% |
| Recurring financial income | 75 | €0 | €172 | +€172 | +429,025% |
| Financial charges | 65/66B | €192 | €212 | +€20 | +10.4% |
| Recurring financial charges | 65 | €192 | €212 | +€20 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | -€30,669 | -€73,700 | -€43,032 | -140% |
| Income taxes | 67/77 | €161 | €148 | -€13 | -8.2% |
| Profit (loss) for the period | 9904 | -€30,830 | -€73,848 | -€43,018 | -140% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,830 | -€73,848 | -€43,018 | -140% |
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 15 October 2026 via checked.be.