TRACKS: what changed
Two fiscal 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.
TRACKS
Largest movements
- Deferred charges and accrued income +€11,316
up €11,316 (+838.5%), from €1,349 to €12,666
- Cash -€4,534
down €4,534 (-23.4%), from €19,395 to €14,862
mainly Deferred charges and accrued income (-€11,316) and Other debts (-€1,821)
- Tangible fixed assets -€1,938
no longer reported in 2025 (was €1,938)
- Trade debts +€5,571
up €5,571 (+71.2%), from €7,822 to €13,393
- Other debts -€1,821
down €1,821 (-31.0%), from €5,867 to €4,045
- Tax, wage and social debts +€813
up €813 (+19.2%), from €4,243 to €5,056
- Gross operating margin -€5,560
down €5,560 (-48.9%), from €11,370 to €5,810
- Financial charges -€998
down €998 (-37.1%), from €2,688 to €1,690
of which Financial charges: -€994
- Depreciation -€662
down €662 (-25.5%), from €2,600 to €1,938
- Other operating charges +€396
up €396 (+48.0%), from €824 to €1,220
- Taxes +€377
up €377 (+80.5%), from €469 to €846
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 | €46,444 | €50,931 | +€4,487 | +9.7% |
| Fixed assets | 21/28 | €1,938 | - | -€1,938 | |
| Tangible fixed assets | 22/27 | €1,938 | - | -€1,938 | |
| Furniture and vehicles | 24 | €1,938 | - | -€1,938 | |
| Current assets | 29/58 | €44,507 | €50,931 | +€6,425 | +14.4% |
| Amounts receivable within one year | 40/41 | €12,792 | €12,434 | -€358 | -2.8% |
| Trade receivables | 40 | €12,681 | €12,320 | -€361 | -2.8% |
| Other amounts receivable | 41 | €111 | €113 | +€3 | +2.6% |
| Current investments | 50/53 | €10,970 | €10,970 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,395 | €14,862 | -€4,534 | -23.4% |
| Deferred charges and accrued income | 490/1 | €1,349 | €12,666 | +€11,316 | +838.5% |
| Total equity and liabilities | 10/49 | €46,444 | €50,931 | +€4,487 | +9.7% |
| Equity | 10/15 | €28,126 | €28,437 | +€311 | +1.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,126 | €26,437 | +€311 | +1.2% |
| Distributable reserves | 133 | €26,126 | €26,437 | +€311 | +1.2% |
| Amounts payable | 17/49 | €18,319 | €22,494 | +€4,176 | +22.8% |
| Amounts payable within one year | 42/48 | €17,931 | €22,494 | +€4,563 | +25.4% |
| Trade debts | 44 | €7,822 | €13,393 | +€5,571 | +71.2% |
| Suppliers | 440/4 | €7,822 | €13,393 | +€5,571 | +71.2% |
| Taxes, remuneration and social security | 45 | €4,243 | €5,056 | +€813 | +19.2% |
| Taxes | 450/3 | €4,243 | €5,056 | +€813 | +19.2% |
| Other amounts payable | 47/48 | €5,867 | €4,045 | -€1,821 | -31.0% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,600 | €1,938 | -€662 | -25.5% |
| Other operating charges | 640/8 | €824 | €1,220 | +€396 | +48.0% |
| Gross operating margin | 9900 | €11,370 | €5,810 | -€5,560 | -48.9% |
| Operating profit (loss) | 9901 | €7,945 | €2,652 | -€5,293 | -66.6% |
| Financial income | 75/76B | €382 | €195 | -€187 | -49.0% |
| Recurring financial income | 75 | €382 | €195 | -€187 | -49.0% |
| Financial charges | 65/66B | €2,688 | €1,690 | -€998 | -37.1% |
| Recurring financial charges | 65 | €2,685 | €1,690 | -€994 | -37.0% |
| Non-recurring financial charges | 66B | €4 | - | -€4 | |
| Profit (loss) for the period before taxes | 9903 | €5,639 | €1,157 | -€4,482 | -79.5% |
| Income taxes | 67/77 | €469 | €846 | +€377 | +80.5% |
| Profit (loss) for the period | 9904 | €5,171 | €311 | -€4,860 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,171 | €311 | -€4,860 | -94.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.