TRANSFORMATIS: 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.
TRANSFORMATIS
Largest movements
- Cash -€51,946
down €51,946 (-15.4%), from €336,515 to €284,569
mainly Receivables within one year (-€31,148) and Contributions, distributions and other (-€11,765)
- Receivables within one year +€31,148
up €31,148 (+111%), from €28,172 to €59,320
of which Trade receivables: +€56,328
- Profit (loss) carried forward -€17,064
down €17,064 (-8.9%), from €191,346 to €174,282
- Tax, wage and social debts -€6,083
down €6,083 (-18.2%), from €33,356 to €27,274
of which Taxes: -€6,583
- Trade debts +€4,532
up €4,532 (+2,987%), from €152 to €4,684
- Financial charges -€72,942
down €72,942, from €69,931 to -€3,012
- Gross operating margin +€6,435
up €6,435 (+64.6%), from -€9,960 to -€3,525
- Depreciation -€3,467
down €3,467 (-48.0%), from €7,216 to €3,749
- Taxes -€104
down €104 (-42.4%), from €245 to €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 | €401,834 | €383,220 | -€18,615 | -4.6% |
| Fixed assets | 21/28 | €5,849 | €4,102 | -€1,747 | -29.9% |
| Tangible fixed assets | 22/27 | €5,419 | €3,672 | -€1,747 | -32.2% |
| Furniture and vehicles | 24 | €4,024 | €2,059 | -€1,965 | -48.8% |
| Other tangible fixed assets | 26 | €1,395 | €1,612 | +€218 | +15.6% |
| Financial fixed assets | 28 | €430 | €430 | = | 0.0% |
| Current assets | 29/58 | €395,986 | €379,118 | -€16,868 | -4.3% |
| Amounts receivable within one year | 40/41 | €28,172 | €59,320 | +€31,148 | +111% |
| Trade receivables | 40 | €1,675 | €58,003 | +€56,328 | +3,363% |
| Other amounts receivable | 41 | €26,497 | €1,317 | -€25,180 | -95.0% |
| Current investments | 50/53 | €30,319 | €33,798 | +€3,479 | +11.5% |
| Cash at bank and in hand | 54/58 | €336,515 | €284,569 | -€51,946 | -15.4% |
| Deferred charges and accrued income | 490/1 | €980 | €1,431 | +€451 | +46.0% |
| Total equity and liabilities | 10/49 | €401,834 | €383,220 | -€18,615 | -4.6% |
| Equity | 10/15 | €367,616 | €350,552 | -€17,064 | -4.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €166,270 | €166,270 | = | 0.0% |
| Distributable reserves | 133 | €166,270 | €166,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €191,346 | €174,282 | -€17,064 | -8.9% |
| Amounts payable | 17/49 | €34,218 | €32,668 | -€1,551 | -4.5% |
| Amounts payable within one year | 42/48 | €33,508 | €31,958 | -€1,551 | -4.6% |
| Trade debts | 44 | €152 | €4,684 | +€4,532 | +2,987% |
| Suppliers | 440/4 | €152 | €4,684 | +€4,532 | +2,987% |
| Taxes, remuneration and social security | 45 | €33,356 | €27,274 | -€6,083 | -18.2% |
| Taxes | 450/3 | €29,856 | €23,274 | -€6,583 | -22.0% |
| Remuneration and social security | 454/9 | €3,500 | €4,000 | +€500 | +14.3% |
| Accrued charges and deferred income | 492/3 | €710 | €710 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,216 | €3,749 | -€3,467 | -48.0% |
| Other operating charges | 640/8 | €1,005 | €952 | -€53 | -5.3% |
| Gross operating margin | 9900 | -€9,960 | -€3,525 | +€6,435 | +64.6% |
| Operating profit (loss) | 9901 | -€18,181 | -€8,226 | +€9,955 | +54.8% |
| Financial income | 75/76B | €56 | €56 | -€0 | -0.4% |
| Recurring financial income | 75 | €56 | €56 | -€0 | -0.4% |
| Financial charges | 65/66B | €69,931 | -€3,012 | -€72,942 | |
| Recurring financial charges | 65 | €69,931 | -€3,012 | -€72,942 | |
| Profit (loss) for the period before taxes | 9903 | -€88,056 | -€5,158 | +€82,897 | +94.1% |
| Income taxes | 67/77 | €245 | €141 | -€104 | -42.4% |
| Profit (loss) for the period | 9904 | -€88,300 | -€5,299 | +€83,001 | +94.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€88,300 | -€5,299 | +€83,001 | +94.0% |
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 25 October 2026 via checked.be.