TRACKCLEAR: 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.
TRACKCLEAR
Largest movements
- Cash -€36,953
down €36,953 (-32.2%), from €114,592 to €77,638
mainly Contributions, distributions and other (-€40,735) and Deferred charges and accrued income (-€13,239)
- Deferred charges and accrued income +€13,239
up €13,239 (+613.1%), from €2,159 to €15,399
- Current investments +€9,000
new in 2025: €9,000
- Receivables within one year +€4,690
up €4,690 (+10.3%), from €45,367 to €50,056
of which Trade receivables: +€4,690
- Tangible fixed assets -€2,582
down €2,582 (-52.0%), from €4,966 to €2,384
- Provisions +€27,700
new in 2025: €27,700
- Profit (loss) carried forward -€15,920
down €15,920 (-16.7%), from €95,281 to €79,361
- Current portion of long-term debt -€11,024
no longer reported in 2025 (was €11,024)
- Debts after one year -€9,640
down €9,640 (-95.9%), from €10,055 to €415
of which Financial debts: -€7,490
- Trade debts -€3,984
down €3,984 (-54.6%), from €7,293 to €3,309
- Provisions +€27,700
new in 2025: €27,700
- Financial charges -€21,814
down €21,814 (-80.8%), from €26,987 to €5,173
- Taxes +€9,753
up €9,753 (+78.1%), from €12,491 to €22,244
- Gross operating margin +€6,173
up €6,173 (+8.1%), from €76,277 to €82,449
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 | €167,084 | €154,478 | -€12,606 | -7.5% |
| Fixed assets | 21/28 | €4,966 | €2,384 | -€2,582 | -52.0% |
| Tangible fixed assets | 22/27 | €4,966 | €2,384 | -€2,582 | -52.0% |
| Furniture and vehicles | 24 | €4,966 | €2,384 | -€2,582 | -52.0% |
| Current assets | 29/58 | €162,118 | €152,094 | -€10,024 | -6.2% |
| Amounts receivable within one year | 40/41 | €45,367 | €50,056 | +€4,690 | +10.3% |
| Trade receivables | 40 | €45,022 | €49,711 | +€4,690 | +10.4% |
| Other amounts receivable | 41 | €345 | €345 | = | 0.0% |
| Current investments | 50/53 | - | €9,000 | +€9,000 | |
| Cash at bank and in hand | 54/58 | €114,592 | €77,638 | -€36,953 | -32.2% |
| Deferred charges and accrued income | 490/1 | €2,159 | €15,399 | +€13,239 | +613.1% |
| Total equity and liabilities | 10/49 | €167,084 | €154,478 | -€12,606 | -7.5% |
| Equity | 10/15 | €115,741 | €99,821 | -€15,920 | -13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,281 | €79,361 | -€15,920 | -16.7% |
| Provisions and deferred taxes | 16 | - | €27,700 | +€27,700 | |
| Provisions for liabilities and charges | 160/5 | - | €27,700 | +€27,700 | |
| Other liabilities and charges | 164/5 | - | €27,700 | +€27,700 | |
| Amounts payable | 17/49 | €51,343 | €26,957 | -€24,386 | -47.5% |
| Amounts payable after more than one year | 17 | €10,055 | €415 | -€9,640 | -95.9% |
| Financial debts | 170/4 | €7,490 | - | -€7,490 | |
| Other amounts payable | 178/9 | €2,565 | €415 | -€2,150 | -83.8% |
| Amounts payable within one year | 42/48 | €39,720 | €26,479 | -€13,241 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €11,024 | - | -€11,024 | |
| Trade debts | 44 | €7,293 | €3,309 | -€3,984 | -54.6% |
| Suppliers | 440/4 | €7,293 | €3,309 | -€3,984 | -54.6% |
| Taxes, remuneration and social security | 45 | €14,248 | €16,016 | +€1,767 | +12.4% |
| Taxes | 450/3 | €4,380 | €16,016 | +€11,636 | +265.7% |
| Remuneration and social security | 454/9 | €9,868 | - | -€9,868 | |
| Other amounts payable | 47/48 | €7,155 | €7,155 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,568 | €62 | -€1,506 | -96.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,591 | €2,582 | -€9 | -0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €27,700 | +€27,700 | |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €76,277 | €82,449 | +€6,173 | +8.1% |
| Operating profit (loss) | 9901 | €73,686 | €52,104 | -€21,581 | -29.3% |
| Financial income | 75/76B | - | €129 | +€129 | |
| Recurring financial income | 75 | - | €129 | +€129 | |
| Financial charges | 65/66B | €26,987 | €5,173 | -€21,814 | -80.8% |
| Recurring financial charges | 65 | €26,987 | €5,173 | -€21,814 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €46,699 | €47,060 | +€361 | +0.8% |
| Income taxes | 67/77 | €12,491 | €22,244 | +€9,753 | +78.1% |
| Profit (loss) for the period | 9904 | €34,208 | €24,815 | -€9,392 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,208 | €24,815 | -€9,392 | -27.5% |
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 11 October 2026 via checked.be.