TRADE POLICY: 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.
TRADE POLICY
Largest movements
- Cash +€63,623
up €63,623 (+327%), from €19,473 to €83,096
mainly Receivables within one year (+€61,112) and Tax, wage and social debts (+€5,098)
- Receivables within one year -€61,112
down €61,112 (-58.0%), from €105,379 to €44,268
of which Other amounts receivable: -€47,992
- Tangible fixed assets -€2,224
down €2,224 (-7.0%), from €31,904 to €29,680
of which Other tangible fixed assets: -€1,537
- Profit (loss) carried forward -€5,417
down €5,417 (-6.3%), from -€86,598 to -€92,015
- Tax, wage and social debts +€5,098
up €5,098 (+111%), from €4,602 to €9,701
- Gross operating margin -€1,933
down €1,933, from €1,011 to -€922
- Financial income -€1,165
down €1,165 (-36.5%), from €3,195 to €2,030
- Financial charges -€1,038
down €1,038 (-94.2%), from €1,103 to €64
- Depreciation +€687
up €687 (+44.7%), from €1,537 to €2,224
- Taxes +€141
new in 2025: €141
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 | €156,788 | €157,077 | +€289 | +0.2% |
| Fixed assets | 21/28 | €31,904 | €29,680 | -€2,224 | -7.0% |
| Tangible fixed assets | 22/27 | €31,904 | €29,680 | -€2,224 | -7.0% |
| Furniture and vehicles | 24 | €882 | €195 | -€687 | -77.9% |
| Other tangible fixed assets | 26 | €31,022 | €29,485 | -€1,537 | -5.0% |
| Current assets | 29/58 | €124,884 | €127,397 | +€2,513 | +2.0% |
| Amounts receivable within one year | 40/41 | €105,379 | €44,268 | -€61,112 | -58.0% |
| Trade receivables | 40 | €41,019 | €27,899 | -€13,119 | -32.0% |
| Other amounts receivable | 41 | €64,361 | €16,369 | -€47,992 | -74.6% |
| Cash at bank and in hand | 54/58 | €19,473 | €83,096 | +€63,623 | +327% |
| Deferred charges and accrued income | 490/1 | €31 | €33 | +€2 | +5.9% |
| Total equity and liabilities | 10/49 | €156,788 | €157,077 | +€289 | +0.2% |
| Equity | 10/15 | €22,612 | €17,195 | -€5,417 | -24.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €9,210 | €9,210 | = | 0.0% |
| Distributable reserves | 133 | €9,210 | €9,210 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,598 | -€92,015 | -€5,417 | -6.3% |
| Provisions and deferred taxes | 16 | €84,241 | €84,241 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €84,241 | €84,241 | = | 0.0% |
| Pensions and similar obligations | 160 | €84,241 | €84,241 | = | 0.0% |
| Amounts payable | 17/49 | €49,935 | €55,641 | +€5,706 | +11.4% |
| Amounts payable within one year | 42/48 | €49,935 | €55,641 | +€5,706 | +11.4% |
| Trade debts | 44 | €45,290 | €45,940 | +€650 | +1.4% |
| Suppliers | 440/4 | €45,290 | €45,940 | +€650 | +1.4% |
| Taxes, remuneration and social security | 45 | €4,602 | €9,701 | +€5,098 | +111% |
| Taxes | 450/3 | €4,602 | €9,701 | +€5,098 | +111% |
| Other amounts payable | 47/48 | €43 | - | -€43 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,537 | €2,224 | +€687 | +44.7% |
| Other operating charges | 640/8 | €4,088 | €4,096 | +€8 | +0.2% |
| Gross operating margin | 9900 | €1,011 | -€922 | -€1,933 | |
| Operating profit (loss) | 9901 | -€4,614 | -€7,242 | -€2,628 | -57.0% |
| Financial income | 75/76B | €3,195 | €2,030 | -€1,165 | -36.5% |
| Recurring financial income | 75 | €3,195 | €2,030 | -€1,165 | -36.5% |
| Financial charges | 65/66B | €1,103 | €64 | -€1,038 | -94.2% |
| Recurring financial charges | 65 | €1,103 | €64 | -€1,038 | -94.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,522 | -€5,276 | -€2,755 | -109% |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | -€2,522 | -€5,417 | -€2,896 | -115% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,522 | -€5,417 | -€2,896 | -115% |
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 26 October 2026 via checked.be.