TRANSFORMACTION: 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.
TRANSFORMACTION
Largest movements
- Receivables within one year +€4,266
up €4,266 (+880%), from €485 to €4,751
of which Trade receivables: +€4,751
- Deferred charges and accrued income +€437
up €437 (+150%), from €292 to €728
- Cash +€418
new in 2025: €418
mainly Other debts (+€16,731) and Net result for the year (+€8,113)
- Short-term financial debts -€20,482
down €20,482 (-99.9%), from €20,498 to €16
of which Other loans: -€20,472
- Other debts +€16,731
up €16,731 (+31.7%), from €52,861 to €69,592
- Profit (loss) carried forward +€8,113
up €8,113 (+7.5%), from -€108,523 to -€100,410
- Tax, wage and social debts +€2,682
up €2,682 (+171%), from €1,573 to €4,255
- Trade debts -€1,983
down €1,983 (-71.8%), from €2,763 to €779
- Gross operating margin +€23,216
up €23,216, from -€8,329 to €14,887
- Depreciation -€514
down €514 (-89.5%), from €574 to €60
- Other operating charges +€485
up €485 (+64.6%), from €750 to €1,236
- Financial charges +€213
up €213 (+4.4%), from €4,880 to €5,094
- Taxes -€190
down €190 (-33.1%), from €575 to €385
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 | €1,100 | €6,160 | +€5,060 | +460% |
| Fixed assets | 21/28 | €323 | €263 | -€60 | -18.7% |
| Tangible fixed assets | 22/27 | €124 | €63 | -€60 | -48.9% |
| Furniture and vehicles | 24 | €124 | €63 | -€60 | -48.9% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €776 | €5,897 | +€5,121 | +660% |
| Amounts receivable within one year | 40/41 | €485 | €4,751 | +€4,266 | +880% |
| Trade receivables | 40 | - | €4,751 | +€4,751 | |
| Other amounts receivable | 41 | €485 | €0 | -€485 | -100% |
| Cash at bank and in hand | 54/58 | - | €418 | +€418 | |
| Deferred charges and accrued income | 490/1 | €292 | €728 | +€437 | +150% |
| Total equity and liabilities | 10/49 | €1,100 | €6,160 | +€5,060 | +460% |
| Equity | 10/15 | -€76,595 | -€68,482 | +€8,113 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,328 | €13,328 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €11,468 | €11,468 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,523 | -€100,410 | +€8,113 | +7.5% |
| Amounts payable | 17/49 | €77,694 | €74,642 | -€3,053 | -3.9% |
| Amounts payable within one year | 42/48 | €77,694 | €74,642 | -€3,053 | -3.9% |
| Financial debts | 43 | €20,498 | €16 | -€20,482 | -99.9% |
| Credit institutions | 430/8 | €26 | €16 | -€10 | -38.5% |
| Other loans | 439 | €20,472 | - | -€20,472 | |
| Trade debts | 44 | €2,763 | €779 | -€1,983 | -71.8% |
| Suppliers | 440/4 | €2,763 | €779 | -€1,983 | -71.8% |
| Taxes, remuneration and social security | 45 | €1,573 | €4,255 | +€2,682 | +171% |
| Taxes | 450/3 | €1,573 | €4,255 | +€2,682 | +171% |
| Other amounts payable | 47/48 | €52,861 | €69,592 | +€16,731 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €574 | €60 | -€514 | -89.5% |
| Other operating charges | 640/8 | €750 | €1,236 | +€485 | +64.6% |
| Gross operating margin | 9900 | -€8,329 | €14,887 | +€23,216 | |
| Operating profit (loss) | 9901 | -€9,653 | €13,591 | +€23,245 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,880 | €5,094 | +€213 | +4.4% |
| Recurring financial charges | 65 | €4,880 | €5,094 | +€213 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | -€14,534 | €8,498 | +€23,031 | |
| Income taxes | 67/77 | €575 | €385 | -€190 | -33.1% |
| Profit (loss) for the period | 9904 | -€15,109 | €8,113 | +€23,222 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,109 | €8,113 | +€23,222 |
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 18 October 2026 via checked.be.