TRACK 75: 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.
TRACK 75
Largest movements
- Cash -€25,939
down €25,939 (-51.1%), from €50,794 to €24,856
mainly Trade debts (-€23,917) and Other debts (-€15,000)
- Tangible fixed assets -€19,938
down €19,938 (-34.4%), from €58,031 to €38,093
of which Plant, machinery and equipment: -€13,743
- Receivables within one year +€7,709
up €7,709 (+13.5%), from €57,312 to €65,021
of which Other amounts receivable: +€4,709
- Trade debts -€23,917
down €23,917 (-77.5%), from €30,842 to €6,925
- Other debts -€15,000
no longer reported in 2025 (was €15,000)
- Current portion of long-term debt -€6,099
no longer reported in 2025 (was €6,099)
- Reserves +€4,156
up €4,156 (+3.4%), from €120,867 to €125,023
- Gross operating margin -€51,440
down €51,440 (-23.6%), from €217,811 to €166,372
- Staff costs -€36,389
down €36,389 (-20.9%), from €174,463 to €138,074
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 | €202,137 | €161,970 | -€40,167 | -19.9% |
| Fixed assets | 21/28 | €58,031 | €38,093 | -€19,938 | -34.4% |
| Tangible fixed assets | 22/27 | €58,031 | €38,093 | -€19,938 | -34.4% |
| Plant, machinery and equipment | 23 | €43,563 | €29,820 | -€13,743 | -31.5% |
| Furniture and vehicles | 24 | €11,019 | €5,947 | -€5,072 | -46.0% |
| Other tangible fixed assets | 26 | €3,449 | €2,326 | -€1,123 | -32.6% |
| Current assets | 29/58 | €144,106 | €123,877 | -€20,230 | -14.0% |
| Stocks and contracts in progress | 3 | €34,000 | €34,000 | = | 0.0% |
| Stocks | 30/36 | €34,000 | €34,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,312 | €65,021 | +€7,709 | +13.5% |
| Trade receivables | 40 | - | €3,000 | +€3,000 | |
| Other amounts receivable | 41 | €57,312 | €62,021 | +€4,709 | +8.2% |
| Cash at bank and in hand | 54/58 | €50,794 | €24,856 | -€25,939 | -51.1% |
| Deferred charges and accrued income | 490/1 | €2,000 | - | -€2,000 | |
| Total equity and liabilities | 10/49 | €202,137 | €161,970 | -€40,167 | -19.9% |
| Equity | 10/15 | €139,467 | €143,623 | +€4,156 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €120,867 | €125,023 | +€4,156 | +3.4% |
| Distributable reserves | 133 | €120,867 | €125,023 | +€4,156 | +3.4% |
| Amounts payable | 17/49 | €62,671 | €18,347 | -€44,323 | -70.7% |
| Amounts payable within one year | 42/48 | €62,671 | €18,347 | -€44,323 | -70.7% |
| Current portion of amounts payable after more than one year | 42 | €6,099 | - | -€6,099 | |
| Trade debts | 44 | €30,842 | €6,925 | -€23,917 | -77.5% |
| Suppliers | 440/4 | €30,842 | €6,925 | -€23,917 | -77.5% |
| Taxes, remuneration and social security | 45 | €10,729 | €11,422 | +€692 | +6.5% |
| Taxes | 450/3 | €1,281 | €3,484 | +€2,203 | +172% |
| Remuneration and social security | 454/9 | €9,448 | €7,938 | -€1,510 | -16.0% |
| Other amounts payable | 47/48 | €15,000 | - | -€15,000 | |
| Remuneration, social security and pensions | 62 | €174,463 | €138,074 | -€36,389 | -20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,769 | €20,965 | -€804 | -3.7% |
| Other operating charges | 640/8 | €901 | €2,070 | +€1,169 | +130% |
| Gross operating margin | 9900 | €217,811 | €166,372 | -€51,440 | -23.6% |
| Operating profit (loss) | 9901 | €20,678 | €5,263 | -€15,415 | -74.5% |
| Financial income | 75/76B | €4,848 | €4,147 | -€701 | -14.5% |
| Recurring financial income | 75 | €4,848 | €4,147 | -€701 | -14.5% |
| Financial charges | 65/66B | €1,892 | €2,099 | +€207 | +10.9% |
| Recurring financial charges | 65 | €1,892 | €2,099 | +€207 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €23,634 | €7,311 | -€16,323 | -69.1% |
| Income taxes | 67/77 | €4,251 | €3,155 | -€1,097 | -25.8% |
| Profit (loss) for the period | 9904 | €19,382 | €4,156 | -€15,226 | -78.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,382 | €4,156 | -€15,226 | -78.6% |
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 21 October 2026 via checked.be.