Trans-formation: 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.
Trans-formation
Largest movements
- Receivables within one year +€2,840
up €2,840 (+8.3%), from €34,265 to €37,104
of which Trade receivables: +€7,280
- Tangible fixed assets +€767
new in 2025: €767
- Cash -€615
down €615 (-11.2%), from €5,482 to €4,867
mainly Net result for the year (-€31,985) and Trade debts (-€19,592)
- Debts after one year +€55,126
up €55,126 (+210.8%), from €26,150 to €81,276
- Profit (loss) carried forward -€31,985
down €31,985 (-354.0%), from -€9,036 to -€41,021
- Trade debts -€19,592
down €19,592 (-90.3%), from €21,708 to €2,116
- Tax, wage and social debts -€557
down €557 (-60.3%), from €925 to €368
- Gross operating margin -€34,028
down €34,028, from €9,312 to -€24,716
- Other operating charges +€4,718
up €4,718 (+249.2%), from €1,893 to €6,612
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 | €39,747 | €42,739 | +€2,992 | +7.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | - | €767 | +€767 | |
| Tangible fixed assets | 22/27 | - | €767 | +€767 | |
| Furniture and vehicles | 24 | - | €767 | +€767 | |
| Current assets | 29/58 | €39,747 | €41,972 | +€2,225 | +5.6% |
| Amounts receivable within one year | 40/41 | €34,265 | €37,104 | +€2,840 | +8.3% |
| Trade receivables | 40 | €28,692 | €35,972 | +€7,280 | +25.4% |
| Other amounts receivable | 41 | €5,573 | €1,132 | -€4,441 | -79.7% |
| Cash at bank and in hand | 54/58 | €5,482 | €4,867 | -€615 | -11.2% |
| Total equity and liabilities | 10/49 | €39,747 | €42,739 | +€2,992 | +7.5% |
| Equity | 10/15 | -€9,036 | -€41,021 | -€31,985 | -354.0% |
| Profit (loss) carried forward | 14 | -€9,036 | -€41,021 | -€31,985 | -354.0% |
| Amounts payable | 17/49 | €48,783 | €83,759 | +€34,977 | +71.7% |
| Amounts payable after more than one year | 17 | €26,150 | €81,276 | +€55,126 | +210.8% |
| Financial debts | 170/4 | €26,150 | €81,276 | +€55,126 | +210.8% |
| Amounts payable within one year | 42/48 | €22,633 | €2,484 | -€20,149 | -89.0% |
| Trade debts | 44 | €21,708 | €2,116 | -€19,592 | -90.3% |
| Suppliers | 440/4 | €21,708 | €2,116 | -€19,592 | -90.3% |
| Taxes, remuneration and social security | 45 | €925 | €368 | -€557 | -60.3% |
| Taxes | 450/3 | €925 | €368 | -€557 | -60.3% |
| Remuneration, social security and pensions | 62 | - | €194 | +€194 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €274 | €307 | +€32 | +11.8% |
| Other operating charges | 640/8 | €1,893 | €6,612 | +€4,718 | +249.2% |
| Gross operating margin | 9900 | €9,312 | -€24,716 | -€34,028 | |
| Operating profit (loss) | 9901 | €7,144 | -€31,828 | -€38,972 | |
| Financial charges | 65/66B | €221 | €156 | -€65 | -29.4% |
| Recurring financial charges | 65 | €221 | €156 | -€65 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €6,922 | -€31,985 | -€38,907 | |
| Profit (loss) for the period | 9904 | €6,922 | -€31,985 | -€38,907 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,922 | -€31,985 | -€38,907 |
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 8 October 2026 via checked.be.