TRACINGINMOTION: 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.
TRACINGINMOTION
Largest movements
- Cash -€210,821
down €210,821 (-98.0%), from €215,132 to €4,311
mainly Investment in fixed assets (net) (-€128,787) and Receivables within one year (-€97,550)
- Receivables within one year +€97,550
up €97,550 (+30.8%), from €317,057 to €414,606
- Intangible fixed assets +€94,380
up €94,380 (+34.2%), from €275,589 to €369,969
- Stocks and contracts +€21,832
up €21,832 (+28.0%), from €77,998 to €99,830
- Tangible fixed assets -€20,872
down €20,872 (-36.0%), from €57,961 to €37,089
of which Furniture and vehicles: -€12,420
- Short-term financial debts +€53,687
new in 2025: €53,687
of which Credit institutions: +€53,227
- Tax, wage and social debts -€42,510
down €42,510 (-36.1%), from €117,917 to €75,407
of which Taxes: -€35,336
- Profit (loss) carried forward -€31,914
down €31,914 (-12.0%), from -€264,883 to -€296,796
- Trade debts +€12,400
up €12,400 (+4.6%), from €266,908 to €279,308
- Gross operating margin -€70,902
down €70,902 (-14.7%), from €482,065 to €411,163
- Depreciation -€24,502
down €24,502 (-30.7%), from €79,727 to €55,225
- Staff costs +€16,858
up €16,858 (+4.7%), from €359,501 to €376,359
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 | €968,897 | €949,059 | -€19,838 | -2.0% |
| Fixed assets | 21/28 | €338,065 | €411,627 | +€73,563 | +21.8% |
| Intangible fixed assets | 21 | €275,589 | €369,969 | +€94,380 | +34.2% |
| Tangible fixed assets | 22/27 | €57,961 | €37,089 | -€20,872 | -36.0% |
| Land and buildings | 22 | €600 | €457 | -€143 | -23.9% |
| Plant, machinery and equipment | 23 | €16,248 | €11,658 | -€4,590 | -28.2% |
| Furniture and vehicles | 24 | €22,215 | €9,795 | -€12,420 | -55.9% |
| Other tangible fixed assets | 26 | €18,898 | €15,179 | -€3,719 | -19.7% |
| Financial fixed assets | 28 | €4,515 | €4,569 | +€54 | +1.2% |
| Current assets | 29/58 | €630,833 | €537,432 | -€93,400 | -14.8% |
| Amounts receivable after more than one year | 29 | - | €1,168 | +€1,168 | |
| Trade receivables | 290 | - | €1,168 | +€1,168 | |
| Stocks and contracts in progress | 3 | €77,998 | €99,830 | +€21,832 | +28.0% |
| Stocks | 30/36 | €77,998 | €99,830 | +€21,832 | +28.0% |
| Amounts receivable within one year | 40/41 | €317,057 | €414,606 | +€97,550 | +30.8% |
| Trade receivables | 40 | €317,057 | €414,606 | +€97,550 | +30.8% |
| Current investments | 50/53 | €15,126 | €15,126 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €215,132 | €4,311 | -€210,821 | -98.0% |
| Deferred charges and accrued income | 490/1 | €5,521 | €2,391 | -€3,129 | -56.7% |
| Total equity and liabilities | 10/49 | €968,897 | €949,059 | -€19,838 | -2.0% |
| Equity | 10/15 | €571,845 | €539,931 | -€31,914 | -5.6% |
| Contributions | 10/11 | €821,601 | €821,601 | = | 0.0% |
| Reserves | 13 | €15,126 | €15,126 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,126 | €15,126 | = | 0.0% |
| Own shares acquired | 1312 | €15,126 | €15,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,883 | -€296,796 | -€31,914 | -12.0% |
| Amounts payable | 17/49 | €397,053 | €409,129 | +€12,076 | +3.0% |
| Amounts payable after more than one year | 17 | €3,227 | - | -€3,227 | |
| Financial debts | 170/4 | €3,227 | - | -€3,227 | |
| Amounts payable within one year | 42/48 | €393,826 | €409,129 | +€15,302 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €8,274 | - | -€8,274 | |
| Financial debts | 43 | - | €53,687 | +€53,687 | |
| Credit institutions | 430/8 | - | €53,227 | +€53,227 | |
| Other loans | 439 | - | €461 | +€461 | |
| Trade debts | 44 | €266,908 | €279,308 | +€12,400 | +4.6% |
| Suppliers | 440/4 | €266,908 | €279,308 | +€12,400 | +4.6% |
| Taxes, remuneration and social security | 45 | €117,917 | €75,407 | -€42,510 | -36.1% |
| Taxes | 450/3 | €84,564 | €49,228 | -€35,336 | -41.8% |
| Remuneration and social security | 454/9 | €33,353 | €26,179 | -€7,175 | -21.5% |
| Other amounts payable | 47/48 | €727 | €727 | = | 0.0% |
| Non-recurring operating income | 76A | €7,899 | €4,505 | -€3,394 | -43.0% |
| Remuneration, social security and pensions | 62 | €359,501 | €376,359 | +€16,858 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,727 | €55,225 | -€24,502 | -30.7% |
| Other operating charges | 640/8 | €3,680 | €3,598 | -€82 | -2.2% |
| Gross operating margin | 9900 | €482,065 | €411,163 | -€70,902 | -14.7% |
| Operating profit (loss) | 9901 | €39,157 | -€24,019 | -€63,176 | |
| Financial income | 75/76B | €432 | €1,328 | +€896 | +207% |
| Recurring financial income | 75 | €432 | €1,328 | +€896 | +207% |
| Financial charges | 65/66B | €5,901 | €7,714 | +€1,813 | +30.7% |
| Recurring financial charges | 65 | €5,901 | €7,714 | +€1,813 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | €33,688 | -€30,405 | -€64,093 | |
| Income taxes | 67/77 | €1,676 | €1,509 | -€167 | -10.0% |
| Profit (loss) for the period | 9904 | €32,012 | -€31,914 | -€63,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,012 | -€31,914 | -€63,926 |
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 28 October 2026 via checked.be.