Think In Circles: 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 In Circles
Largest movements
- Cash -€6,702
down €6,702 (-40.0%), from €16,769 to €10,067
mainly Accrued charges and deferred income (-€16,710) and Receivables within one year (-€5,792)
- Receivables within one year +€5,792
up €5,792 (+185%), from €3,137 to €8,929
of which Trade receivables: +€8,224
- Stocks and contracts -€3,367
down €3,367 (-87.1%), from €3,867 to €500
- Tangible fixed assets -€1,274
down €1,274 (-14.4%), from €8,823 to €7,550
- Financial fixed assets +€538
up €538 (+46.7%), from €1,152 to €1,690
- Accrued charges and deferred income -€16,710
down €16,710 (-98.2%), from €17,010 to €300
- Debts after one year +€9,500
new in 2025: €9,500
- Trade debts +€7,402
up €7,402 (+154%), from €4,793 to €12,195
- Profit (loss) carried forward -€4,328
down €4,328, from €4,065 to -€262
- Tax, wage and social debts -€557
down €557 (-28.2%), from €1,977 to €1,420
- Gross operating margin -€13,577
down €13,577 (-99.5%), from €13,648 to €71
- Taxes -€1,977
no longer reported in 2025 (was €1,977)
- Other operating charges +€520
up €520 (+63.7%), from €815 to €1,335
- Depreciation +€315
up €315 (+12.1%), from €2,605 to €2,920
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 | €33,857 | €29,228 | -€4,629 | -13.7% |
| Fixed assets | 21/28 | €9,975 | €9,240 | -€736 | -7.4% |
| Tangible fixed assets | 22/27 | €8,823 | €7,550 | -€1,274 | -14.4% |
| Plant, machinery and equipment | 23 | €8,823 | €7,550 | -€1,274 | -14.4% |
| Financial fixed assets | 28 | €1,152 | €1,690 | +€538 | +46.7% |
| Current assets | 29/58 | €23,881 | €19,988 | -€3,893 | -16.3% |
| Stocks and contracts in progress | 3 | €3,867 | €500 | -€3,367 | -87.1% |
| Stocks | 30/36 | €3,867 | €500 | -€3,367 | -87.1% |
| Amounts receivable within one year | 40/41 | €3,137 | €8,929 | +€5,792 | +185% |
| Trade receivables | 40 | €668 | €8,892 | +€8,224 | +1,231% |
| Other amounts receivable | 41 | €2,469 | €37 | -€2,432 | -98.5% |
| Cash at bank and in hand | 54/58 | €16,769 | €10,067 | -€6,702 | -40.0% |
| Deferred charges and accrued income | 490/1 | €109 | €493 | +€384 | +353% |
| Total equity and liabilities | 10/49 | €33,857 | €29,228 | -€4,629 | -13.7% |
| Equity | 10/15 | €10,065 | €5,738 | -€4,328 | -43.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,065 | -€262 | -€4,328 | |
| Amounts payable | 17/49 | €23,791 | €23,490 | -€301 | -1.3% |
| Amounts payable after more than one year | 17 | - | €9,500 | +€9,500 | |
| Financial debts | 170/4 | - | €9,500 | +€9,500 | |
| Amounts payable within one year | 42/48 | €6,781 | €13,691 | +€6,910 | +102% |
| Trade debts | 44 | €4,793 | €12,195 | +€7,402 | +154% |
| Suppliers | 440/4 | €4,793 | €12,195 | +€7,402 | +154% |
| Taxes, remuneration and social security | 45 | €1,977 | €1,420 | -€557 | -28.2% |
| Taxes | 450/3 | €1,977 | €1,420 | -€557 | -28.2% |
| Other amounts payable | 47/48 | €11 | €76 | +€64 | +571% |
| Accrued charges and deferred income | 492/3 | €17,010 | €300 | -€16,710 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,605 | €2,920 | +€315 | +12.1% |
| Other operating charges | 640/8 | €815 | €1,335 | +€520 | +63.7% |
| Gross operating margin | 9900 | €13,648 | €71 | -€13,577 | -99.5% |
| Operating profit (loss) | 9901 | €10,228 | -€4,184 | -€14,412 | |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €110 | €149 | +€39 | +35.8% |
| Recurring financial charges | 65 | €110 | €149 | +€39 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €10,118 | -€4,328 | -€14,446 | |
| Income taxes | 67/77 | €1,977 | - | -€1,977 | |
| Profit (loss) for the period | 9904 | €8,142 | -€4,328 | -€12,470 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,142 | -€4,328 | -€12,470 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.