TRACK & SLIDE: 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 & SLIDE
Largest movements
- Tangible fixed assets -€20,400
down €20,400 (-24.0%), from €85,115 to €64,715
- Receivables within one year -€5,089
down €5,089 (-80.5%), from €6,323 to €1,234
of which Trade receivables: -€3,319
- Cash -€2,848
down €2,848 (-79.5%), from €3,582 to €734
mainly Net result for the year (-€17,275) and Debts after one year (-€9,740)
- Profit (loss) carried forward -€17,275
down €17,275 (-50.6%), from -€34,153 to -€51,428
- Debts after one year -€9,740
down €9,740 (-26.9%), from €36,240 to €26,500
- Other debts -€6,151
down €6,151 (-7.6%), from €81,361 to €75,210
- Tax, wage and social debts +€3,870
new in 2025: €3,870
- Depreciation +€5,561
up €5,561 (+31.0%), from €17,939 to €23,500
- Gross operating margin -€2,016
down €2,016 (-18.4%), from €10,951 to €8,935
- Financial charges +€975
up €975 (+67.8%), from €1,438 to €2,413
- Other operating charges -€140
down €140 (-32.0%), from €438 to €298
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.
Cash bridge derived
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 | €95,021 | €66,683 | -€28,338 | -29.8% |
| Fixed assets | 21/28 | €85,115 | €64,715 | -€20,400 | -24.0% |
| Tangible fixed assets | 22/27 | €85,115 | €64,715 | -€20,400 | -24.0% |
| Furniture and vehicles | 24 | €85,115 | €64,715 | -€20,400 | -24.0% |
| Current assets | 29/58 | €9,906 | €1,968 | -€7,937 | -80.1% |
| Amounts receivable within one year | 40/41 | €6,323 | €1,234 | -€5,089 | -80.5% |
| Trade receivables | 40 | €4,554 | €1,234 | -€3,319 | -72.9% |
| Other amounts receivable | 41 | €1,770 | - | -€1,770 | |
| Cash at bank and in hand | 54/58 | €3,582 | €734 | -€2,848 | -79.5% |
| Total equity and liabilities | 10/49 | €95,021 | €66,683 | -€28,338 | -29.8% |
| Equity | 10/15 | -€32,153 | -€49,428 | -€17,275 | -53.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,153 | -€51,428 | -€17,275 | -50.6% |
| Amounts payable | 17/49 | €127,173 | €116,111 | -€11,062 | -8.7% |
| Amounts payable after more than one year | 17 | €36,240 | €26,500 | -€9,740 | -26.9% |
| Financial debts | 170/4 | €36,240 | €26,500 | -€9,740 | -26.9% |
| Amounts payable within one year | 42/48 | €90,933 | €89,611 | -€1,322 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €9,283 | €9,743 | +€460 | +5.0% |
| Trade debts | 44 | €289 | €787 | +€499 | +172.8% |
| Suppliers | 440/4 | €289 | €787 | +€499 | +172.8% |
| Taxes, remuneration and social security | 45 | - | €3,870 | +€3,870 | |
| Taxes | 450/3 | - | €3,870 | +€3,870 | |
| Other amounts payable | 47/48 | €81,361 | €75,210 | -€6,151 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,939 | €23,500 | +€5,561 | +31.0% |
| Other operating charges | 640/8 | €438 | €298 | -€140 | -32.0% |
| Gross operating margin | 9900 | €10,951 | €8,935 | -€2,016 | -18.4% |
| Operating profit (loss) | 9901 | -€7,426 | -€14,862 | -€7,436 | -100.1% |
| Financial charges | 65/66B | €1,438 | €2,413 | +€975 | +67.8% |
| Recurring financial charges | 65 | €1,438 | €2,413 | +€975 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,864 | -€17,275 | -€8,411 | -94.9% |
| Profit (loss) for the period | 9904 | -€8,864 | -€17,275 | -€8,411 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,864 | -€17,275 | -€8,411 | -94.9% |
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 10 October 2026 via checked.be.