TRADEFLOW: 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.
TRADEFLOW
Largest movements
- Cash -€90,325
down €90,325 (-86.2%), from €104,785 to €14,460
mainly Investment in fixed assets (net) (-€81,147) and Other debts (-€49,419)
- Tangible fixed assets +€40,896
up €40,896 (+24.4%), from €167,760 to €208,656
of which Furniture and vehicles: +€34,028
- Receivables within one year -€27,922
down €27,922 (-25.8%), from €108,384 to €80,463
of which Other amounts receivable: -€62,450
- Formation expenses +€6,495
up €6,495, from €0 to €6,495
- Deferred charges and accrued income +€6,248
up €6,248 (+89.6%), from €6,970 to €13,218
- Other debts -€49,419
down €49,419 (-90.8%), from €54,407 to €4,988
- Trade debts +€40,925
up €40,925 (+456.5%), from €8,965 to €49,890
- Debts after one year -€16,452
down €16,452 (-39.6%), from €41,527 to €25,075
- Profit (loss) carried forward -€15,792
new in 2025: -€15,792
- Tax, wage and social debts -€14,412
down €14,412 (-98.6%), from €14,617 to €204
of which Remuneration and social security: -€11,292
- Gross operating margin -€762,671
down €762,671 (-95.7%), from €797,023 to €34,352
- Staff costs -€219,293
down €219,293 (-100.0%), from €219,293 to €0
- Taxes -€121,767
down €121,767 (-99.8%), from €122,023 to €256
- Write-downs -€49,967
down €49,967, from €24,984 to -€24,984
- Depreciation -€25,107
down €25,107 (-42.7%), from €58,863 to €33,756
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 | €581,625 | €515,081 | -€66,544 | -11.4% |
| Formation expenses | 20 | €0 | €6,495 | +€6,495 | |
| Fixed assets | 21/28 | €173,961 | €214,857 | +€40,896 | +23.5% |
| Tangible fixed assets | 22/27 | €167,760 | €208,656 | +€40,896 | +24.4% |
| Plant, machinery and equipment | 23 | €3,449 | €1,735 | -€1,714 | -49.7% |
| Furniture and vehicles | 24 | €104,478 | €138,506 | +€34,028 | +32.6% |
| Other tangible fixed assets | 26 | €59,833 | €68,415 | +€8,582 | +14.3% |
| Financial fixed assets | 28 | €6,201 | €6,201 | = | 0.0% |
| Current assets | 29/58 | €407,664 | €293,730 | -€113,934 | -27.9% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €27,525 | €25,589 | -€1,936 | -7.0% |
| Stocks | 30/36 | €27,525 | €25,589 | -€1,936 | -7.0% |
| Amounts receivable within one year | 40/41 | €108,384 | €80,463 | -€27,922 | -25.8% |
| Trade receivables | 40 | €27,432 | €61,961 | +€34,528 | +125.9% |
| Other amounts receivable | 41 | €80,952 | €18,502 | -€62,450 | -77.1% |
| Cash at bank and in hand | 54/58 | €104,785 | €14,460 | -€90,325 | -86.2% |
| Deferred charges and accrued income | 490/1 | €6,970 | €13,218 | +€6,248 | +89.6% |
| Total equity and liabilities | 10/49 | €581,625 | €515,081 | -€66,544 | -11.4% |
| Equity | 10/15 | €421,046 | €405,254 | -€15,792 | -3.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €402,454 | €402,454 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €400,595 | €400,595 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€15,792 | -€15,792 | |
| Provisions and deferred taxes | 16 | €5,750 | €0 | -€5,750 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €5,750 | €0 | -€5,750 | -100.0% |
| Environmental obligations | 163 | €5,750 | €0 | -€5,750 | -100.0% |
| Amounts payable | 17/49 | €154,829 | €109,827 | -€45,002 | -29.1% |
| Amounts payable after more than one year | 17 | €41,527 | €25,075 | -€16,452 | -39.6% |
| Financial debts | 170/4 | €41,527 | €25,075 | -€16,452 | -39.6% |
| Amounts payable within one year | 42/48 | €112,245 | €83,706 | -€28,538 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €27,655 | €28,624 | +€969 | +3.5% |
| Financial debts | 43 | €6,602 | €0 | -€6,602 | -100.0% |
| Credit institutions | 430/8 | €6,602 | €0 | -€6,602 | -100.0% |
| Trade debts | 44 | €8,965 | €49,890 | +€40,925 | +456.5% |
| Suppliers | 440/4 | €8,965 | €49,890 | +€40,925 | +456.5% |
| Taxes, remuneration and social security | 45 | €14,617 | €204 | -€14,412 | -98.6% |
| Taxes | 450/3 | €3,325 | €204 | -€3,121 | -93.9% |
| Remuneration and social security | 454/9 | €11,292 | €0 | -€11,292 | -100.0% |
| Other amounts payable | 47/48 | €54,407 | €4,988 | -€49,419 | -90.8% |
| Accrued charges and deferred income | 492/3 | €1,057 | €1,046 | -€12 | -1.1% |
| Non-recurring operating income | 76A | €456,370 | €55,514 | -€400,856 | -87.8% |
| Remuneration, social security and pensions | 62 | €219,293 | €0 | -€219,293 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,863 | €33,756 | -€25,107 | -42.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,984 | -€24,984 | -€49,967 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €5,750 | -€5,750 | -€11,500 | |
| Other operating charges | 640/8 | €5,967 | €2,645 | -€3,322 | -55.7% |
| Non-recurring operating charges | 66A | €80,289 | €49,259 | -€31,030 | -38.6% |
| Gross operating margin | 9900 | €797,023 | €34,352 | -€762,671 | -95.7% |
| Operating profit (loss) | 9901 | €401,877 | -€20,574 | -€422,451 | |
| Financial income | 75/76B | €2,957 | €7,205 | +€4,249 | +143.7% |
| Recurring financial income | 75 | €2,957 | €7,205 | +€4,249 | +143.7% |
| Financial charges | 65/66B | €14,287 | €2,166 | -€12,121 | -84.8% |
| Recurring financial charges | 65 | €14,287 | €2,166 | -€12,121 | -84.8% |
| Profit (loss) for the period before taxes | 9903 | €390,546 | -€15,535 | -€406,081 | |
| Income taxes | 67/77 | €122,023 | €256 | -€121,767 | -99.8% |
| Profit (loss) for the period | 9904 | €268,523 | -€15,792 | -€284,315 | |
| Profit (loss) for the period to be appropriated | 9905 | €268,523 | -€15,792 | -€284,315 |
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 29 September 2026 via checked.be.