TO BE TITLED: 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.
TO BE TITLED
Largest movements
- Cash -€20,340
down €20,340 (-25.4%), from €80,112 to €59,771
mainly Contributions, distributions and other (-€115,000) and Investment in fixed assets (net) (-€26,561)
- Tangible fixed assets +€20,078
up €20,078 (+53.5%), from €37,518 to €57,595
of which Other tangible fixed assets: +€11,952
- Current investments +€10,000
up €10,000 (+12.5%), from €80,000 to €90,000
- Other debts +€115,000
up €115,000, from €0 to €115,000
- Profit (loss) carried forward -€75,558
down €75,558 (-38.4%), from €196,694 to €121,136
- Tax, wage and social debts -€25,241
down €25,241 (-70.0%), from €36,075 to €10,835
of which Taxes: -€25,241
- Gross operating margin -€32,475
down €32,475 (-36.2%), from €89,799 to €57,324
- Taxes -€6,253
down €6,253 (-34.1%), from €18,353 to €12,100
- Financial income +€3,847
up €3,847 (+329%), from €1,168 to €5,014
- Financial charges +€3,709
up €3,709 (+629%), from €590 to €4,299
- Other operating charges -€1,438
down €1,438 (-99.0%), from €1,452 to €14
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 | €238,957 | €250,982 | +€12,026 | +5.0% |
| Fixed assets | 21/28 | €37,518 | €57,595 | +€20,078 | +53.5% |
| Tangible fixed assets | 22/27 | €37,518 | €57,595 | +€20,078 | +53.5% |
| Plant, machinery and equipment | 23 | €7,154 | €16,388 | +€9,234 | +129% |
| Furniture and vehicles | 24 | €15,991 | €14,882 | -€1,109 | -6.9% |
| Other tangible fixed assets | 26 | €14,373 | €26,326 | +€11,952 | +83.2% |
| Current assets | 29/58 | €201,439 | €193,387 | -€8,052 | -4.0% |
| Amounts receivable within one year | 40/41 | €41,327 | €42,567 | +€1,239 | +3.0% |
| Trade receivables | 40 | €24,828 | €11,192 | -€13,636 | -54.9% |
| Other amounts receivable | 41 | €16,499 | €31,375 | +€14,876 | +90.2% |
| Current investments | 50/53 | €80,000 | €90,000 | +€10,000 | +12.5% |
| Cash at bank and in hand | 54/58 | €80,112 | €59,771 | -€20,340 | -25.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,049 | +€1,049 | |
| Total equity and liabilities | 10/49 | €238,957 | €250,982 | +€12,026 | +5.0% |
| Equity | 10/15 | €199,194 | €123,636 | -€75,558 | -37.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,694 | €121,136 | -€75,558 | -38.4% |
| Amounts payable | 17/49 | €39,762 | €127,346 | +€87,584 | +220% |
| Amounts payable within one year | 42/48 | €39,510 | €127,346 | +€87,836 | +222% |
| Trade debts | 44 | €3,435 | €1,511 | -€1,924 | -56.0% |
| Suppliers | 440/4 | €3,435 | €1,511 | -€1,924 | -56.0% |
| Taxes, remuneration and social security | 45 | €36,075 | €10,835 | -€25,241 | -70.0% |
| Taxes | 450/3 | €36,075 | €10,835 | -€25,241 | -70.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €115,000 | +€115,000 | |
| Accrued charges and deferred income | 492/3 | €252 | €0 | -€252 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,270 | €6,484 | +€1,213 | +23.0% |
| Other operating charges | 640/8 | €1,452 | €14 | -€1,438 | -99.0% |
| Gross operating margin | 9900 | €89,799 | €57,324 | -€32,475 | -36.2% |
| Operating profit (loss) | 9901 | €83,076 | €50,826 | -€32,250 | -38.8% |
| Financial income | 75/76B | €1,168 | €5,014 | +€3,847 | +329% |
| Recurring financial income | 75 | €1,168 | €5,014 | +€3,847 | +329% |
| Financial charges | 65/66B | €590 | €4,299 | +€3,709 | +629% |
| Recurring financial charges | 65 | €590 | €4,299 | +€3,709 | +629% |
| Profit (loss) for the period before taxes | 9903 | €83,654 | €51,542 | -€32,113 | -38.4% |
| Income taxes | 67/77 | €18,353 | €12,100 | -€6,253 | -34.1% |
| Profit (loss) for the period | 9904 | €65,302 | €39,442 | -€25,860 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,302 | €39,442 | -€25,860 | -39.6% |
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 20 October 2026 via checked.be.