TO THE WIRE: 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 THE WIRE
Largest movements
- Cash -€17,393
down €17,393 (-74.5%), from €23,348 to €5,955
mainly Contributions, distributions and other (-€21,000) and Receivables within one year (-€13,991)
- Receivables within one year +€13,991
up €13,991 (+87.2%), from €16,049 to €30,040
of which Other amounts receivable: +€7,629
- Tangible fixed assets -€12,768
down €12,768 (-26.6%), from €47,947 to €35,179
of which Furniture and vehicles: -€10,918
- Receivables after one year +€6,000
up €6,000 (+26.4%), from €22,750 to €28,750
- Intangible fixed assets -€4,994
down €4,994 (-33.4%), from €14,969 to €9,975
- Reserves -€14,551
down €14,551 (-40.0%), from €36,406 to €21,854
- Trade debts -€13,043
down €13,043 (-47.1%), from €27,706 to €14,663
- Debts after one year -€12,183
down €12,183 (-56.8%), from €21,443 to €9,260
- Tax, wage and social debts +€11,087
up €11,087 (+1,181%), from €939 to €12,026
of which Remuneration and social security: +€7,145
- Other debts +€9,611
up €9,611 (+30.5%), from €31,531 to €41,143
- Gross operating margin -€11,856
down €11,856 (-27.3%), from €43,464 to €31,608
- Depreciation +€5,281
up €5,281 (+30.9%), from €17,081 to €22,363
- Taxes -€3,238
down €3,238 (-56.2%), from €5,765 to €2,528
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 | €132,023 | €116,496 | -€15,527 | -11.8% |
| Fixed assets | 21/28 | €62,916 | €45,154 | -€17,763 | -28.2% |
| Intangible fixed assets | 21 | €14,969 | €9,975 | -€4,994 | -33.4% |
| Tangible fixed assets | 22/27 | €47,947 | €35,179 | -€12,768 | -26.6% |
| Plant, machinery and equipment | 23 | €3,296 | €1,445 | -€1,851 | -56.2% |
| Furniture and vehicles | 24 | €44,652 | €33,734 | -€10,918 | -24.5% |
| Current assets | 29/58 | €69,107 | €71,342 | +€2,235 | +3.2% |
| Amounts receivable after more than one year | 29 | €22,750 | €28,750 | +€6,000 | +26.4% |
| Other amounts receivable | 291 | €22,750 | €28,750 | +€6,000 | +26.4% |
| Stocks and contracts in progress | 3 | €6,327 | €6,327 | = | 0.0% |
| Stocks | 30/36 | €6,327 | €6,327 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,049 | €30,040 | +€13,991 | +87.2% |
| Trade receivables | 40 | €10,904 | €17,266 | +€6,362 | +58.3% |
| Other amounts receivable | 41 | €5,144 | €12,774 | +€7,629 | +148% |
| Cash at bank and in hand | 54/58 | €23,348 | €5,955 | -€17,393 | -74.5% |
| Deferred charges and accrued income | 490/1 | €633 | €270 | -€363 | -57.4% |
| Total equity and liabilities | 10/49 | €132,023 | €116,496 | -€15,527 | -11.8% |
| Equity | 10/15 | €38,406 | €23,854 | -€14,551 | -37.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €36,406 | €21,854 | -€14,551 | -40.0% |
| Distributable reserves | 133 | €36,406 | €21,854 | -€14,551 | -40.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,617 | €92,642 | -€976 | -1.0% |
| Amounts payable after more than one year | 17 | €21,443 | €9,260 | -€12,183 | -56.8% |
| Financial debts | 170/4 | €21,443 | €9,260 | -€12,183 | -56.8% |
| Amounts payable within one year | 42/48 | €72,175 | €83,382 | +€11,207 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €11,998 | €15,550 | +€3,552 | +29.6% |
| Trade debts | 44 | €27,706 | €14,663 | -€13,043 | -47.1% |
| Suppliers | 440/4 | €27,706 | €14,663 | -€13,043 | -47.1% |
| Taxes, remuneration and social security | 45 | €939 | €12,026 | +€11,087 | +1,181% |
| Taxes | 450/3 | €939 | €4,881 | +€3,943 | +420% |
| Remuneration and social security | 454/9 | €0 | €7,145 | +€7,145 | |
| Other amounts payable | 47/48 | €31,531 | €41,143 | +€9,611 | +30.5% |
| Remuneration, social security and pensions | 62 | -€353 | €0 | +€353 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,081 | €22,363 | +€5,281 | +30.9% |
| Other operating charges | 640/8 | €679 | €673 | -€6 | -0.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €43,464 | €31,608 | -€11,856 | -27.3% |
| Operating profit (loss) | 9901 | €26,057 | €8,573 | -€17,484 | -67.1% |
| Financial income | 75/76B | €910 | €1,067 | +€157 | +17.3% |
| Recurring financial income | 75 | €910 | €1,067 | +€157 | +17.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €703 | €664 | -€40 | -5.6% |
| Recurring financial charges | 65 | €703 | €664 | -€40 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €26,264 | €8,976 | -€17,287 | -65.8% |
| Income taxes | 67/77 | €5,765 | €2,528 | -€3,238 | -56.2% |
| Profit (loss) for the period | 9904 | €20,498 | €6,449 | -€14,050 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,498 | €6,449 | -€14,050 | -68.5% |
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.