THIS IS IT: 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.
THIS IS IT
Largest movements
- Tangible fixed assets -€117,566
down €117,566 (-92.9%), from €126,517 to €8,951
of which Other tangible fixed assets: -€60,490
- Receivables within one year -€102,087
down €102,087 (-77.2%), from €132,223 to €30,136
of which Other amounts receivable: -€128,065
- Other debts -€65,042
down €65,042 (-70.1%), from €92,795 to €27,753
- Advances received -€58,000
down €58,000 (-100%), from €58,000 to €0
- Short-term financial debts -€56,569
down €56,569 (-100%), from €56,569 to €0
- Profit (loss) carried forward -€29,597
down €29,597 (-468%), from -€6,326 to -€35,923
- Tax, wage and social debts -€6,464
down €6,464 (-80.3%), from €8,045 to €1,581
of which Taxes: -€6,464
- Gross operating margin +€88,428
up €88,428 (+548%), from €16,134 to €104,561
- Depreciation -€40,893
down €40,893 (-77.7%), from €52,598 to €11,705
- Other operating charges +€9,254
up €9,254 (+653%), from €1,416 to €10,671
- Financial charges -€4,051
down €4,051 (-61.1%), from €6,629 to €2,578
- Staff costs -€1,859
down €1,859 (-100%), from €1,859 to €0
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 | €260,860 | €42,719 | -€218,141 | -83.6% |
| Fixed assets | 21/28 | €126,917 | €9,351 | -€117,566 | -92.6% |
| Tangible fixed assets | 22/27 | €126,517 | €8,951 | -€117,566 | -92.9% |
| Plant, machinery and equipment | 23 | €22,189 | €5,781 | -€16,408 | -73.9% |
| Furniture and vehicles | 24 | €43,839 | €3,170 | -€40,668 | -92.8% |
| Other tangible fixed assets | 26 | €60,490 | €0 | -€60,490 | -100% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €133,943 | €33,368 | -€100,574 | -75.1% |
| Amounts receivable within one year | 40/41 | €132,223 | €30,136 | -€102,087 | -77.2% |
| Trade receivables | 40 | €4,157 | €30,136 | +€25,978 | +625% |
| Other amounts receivable | 41 | €128,065 | €0 | -€128,065 | -100% |
| Cash at bank and in hand | 54/58 | - | €2,398 | +€2,398 | |
| Deferred charges and accrued income | 490/1 | €1,720 | €835 | -€885 | -51.5% |
| Total equity and liabilities | 10/49 | €260,860 | €42,719 | -€218,141 | -83.6% |
| Equity | 10/15 | €12,733 | -€16,863 | -€29,597 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €460 | €460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €460 | €460 | = | 0.0% |
| Reserves not available under the articles | 1311 | €460 | €460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,326 | -€35,923 | -€29,597 | -468% |
| Amounts payable | 17/49 | €248,127 | €59,582 | -€188,544 | -76.0% |
| Amounts payable after more than one year | 17 | €8,269 | €8,269 | = | 0.0% |
| Financial debts | 170/4 | €8,269 | €8,269 | = | 0.0% |
| Amounts payable within one year | 42/48 | €236,402 | €51,313 | -€185,089 | -78.3% |
| Current portion of amounts payable after more than one year | 42 | €4,740 | €0 | -€4,740 | -100% |
| Financial debts | 43 | €56,569 | €0 | -€56,569 | -100% |
| Credit institutions | 430/8 | €56,569 | €0 | -€56,569 | -100% |
| Trade debts | 44 | €16,254 | €21,979 | +€5,726 | +35.2% |
| Suppliers | 440/4 | €16,254 | €21,979 | +€5,726 | +35.2% |
| Advances received on contracts in progress | 46 | €58,000 | €0 | -€58,000 | -100% |
| Taxes, remuneration and social security | 45 | €8,045 | €1,581 | -€6,464 | -80.3% |
| Taxes | 450/3 | €8,045 | €1,581 | -€6,464 | -80.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €92,795 | €27,753 | -€65,042 | -70.1% |
| Accrued charges and deferred income | 492/3 | €3,455 | €0 | -€3,455 | -100% |
| Non-recurring operating income | 76A | €563 | €133,329 | +€132,766 | +23,563% |
| Remuneration, social security and pensions | 62 | €1,859 | €0 | -€1,859 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,598 | €11,705 | -€40,893 | -77.7% |
| Other operating charges | 640/8 | €1,416 | €10,671 | +€9,254 | +653% |
| Non-recurring operating charges | 66A | €0 | €109,343 | +€109,343 | |
| Gross operating margin | 9900 | €16,134 | €104,561 | +€88,428 | +548% |
| Operating profit (loss) | 9901 | -€39,740 | -€27,157 | +€12,583 | +31.7% |
| Financial income | 75/76B | €7 | €138 | +€132 | +1,929% |
| Recurring financial income | 75 | €7 | €138 | +€132 | +1,929% |
| Financial charges | 65/66B | €6,629 | €2,578 | -€4,051 | -61.1% |
| Recurring financial charges | 65 | €6,629 | €2,578 | -€4,051 | -61.1% |
| Profit (loss) for the period before taxes | 9903 | -€46,363 | -€29,597 | +€16,766 | +36.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€46,363 | -€29,597 | +€16,766 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,363 | -€29,597 | +€16,766 | +36.2% |
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 26 October 2026 via checked.be.