Transition: 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.
Transition
Largest movements
- Cash -€33,431
down €33,431 (-33.4%), from €100,038 to €66,607
mainly Trade debts (-€30,339) and Receivables within one year (-€10,041)
- Receivables within one year +€10,041
up €10,041 (+37.2%), from €26,966 to €37,006
of which Trade receivables: +€9,260
- Trade debts -€30,339
down €30,339 (-71.9%), from €42,212 to €11,874
- Profit (loss) carried forward +€10,582
new in 2025: €10,582
- Tax, wage and social debts -€4,038
down €4,038 (-20.5%), from €19,690 to €15,652
- Gross operating margin -€110,464
down €110,464 (-86.8%), from €127,217 to €16,753
- Financial charges -€101,980
down €101,980 (-96.4%), from €105,749 to €3,769
- Taxes -€2,893
down €2,893 (-50.5%), from €5,733 to €2,840
- Depreciation -€2,231
down €2,231 (-88.8%), from €2,511 to €280
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 | €153,498 | €128,915 | -€24,583 | -16.0% |
| Fixed assets | 21/28 | €1,090 | €465 | -€625 | -57.3% |
| Intangible fixed assets | 21 | €545 | €430 | -€115 | -21.2% |
| Tangible fixed assets | 22/27 | €165 | €0 | -€165 | -100% |
| Furniture and vehicles | 24 | €165 | €0 | -€165 | -100% |
| Financial fixed assets | 28 | €380 | €35 | -€345 | -90.8% |
| Current assets | 29/58 | €152,408 | €128,450 | -€23,958 | -15.7% |
| Stocks and contracts in progress | 3 | €24,836 | €24,836 | = | 0.0% |
| Stocks | 30/36 | €24,836 | €24,836 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,966 | €37,006 | +€10,041 | +37.2% |
| Trade receivables | 40 | €24,901 | €34,161 | +€9,260 | +37.2% |
| Other amounts receivable | 41 | €2,065 | €2,846 | +€781 | +37.8% |
| Cash at bank and in hand | 54/58 | €100,038 | €66,607 | -€33,431 | -33.4% |
| Deferred charges and accrued income | 490/1 | €568 | €0 | -€568 | -100% |
| Total equity and liabilities | 10/49 | €153,498 | €128,915 | -€24,583 | -16.0% |
| Equity | 10/15 | €77,279 | €87,862 | +€10,582 | +13.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,079 | €71,079 | = | 0.0% |
| Distributable reserves | 133 | €71,079 | €71,079 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €10,582 | +€10,582 | |
| Amounts payable | 17/49 | €76,219 | €41,053 | -€35,166 | -46.1% |
| Amounts payable within one year | 42/48 | €76,219 | €41,053 | -€35,166 | -46.1% |
| Financial debts | 43 | €128 | €98 | -€29 | -23.0% |
| Credit institutions | 430/8 | €128 | €98 | -€29 | -23.0% |
| Trade debts | 44 | €42,212 | €11,874 | -€30,339 | -71.9% |
| Suppliers | 440/4 | €42,212 | €11,874 | -€30,339 | -71.9% |
| Taxes, remuneration and social security | 45 | €19,690 | €15,652 | -€4,038 | -20.5% |
| Taxes | 450/3 | €19,690 | €15,652 | -€4,038 | -20.5% |
| Other amounts payable | 47/48 | €14,188 | €13,429 | -€760 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,511 | €280 | -€2,231 | -88.8% |
| Other operating charges | 640/8 | €433 | €46 | -€387 | -89.4% |
| Gross operating margin | 9900 | €127,217 | €16,753 | -€110,464 | -86.8% |
| Operating profit (loss) | 9901 | €124,273 | €16,427 | -€107,845 | -86.8% |
| Financial income | 75/76B | €4 | €764 | +€761 | +19,551% |
| Recurring financial income | 75 | €4 | €764 | +€761 | +19,551% |
| Financial charges | 65/66B | €105,749 | €3,769 | -€101,980 | -96.4% |
| Recurring financial charges | 65 | €105,749 | €3,769 | -€101,980 | -96.4% |
| Profit (loss) for the period before taxes | 9903 | €18,528 | €13,422 | -€5,105 | -27.6% |
| Income taxes | 67/77 | €5,733 | €2,840 | -€2,893 | -50.5% |
| Profit (loss) for the period | 9904 | €12,794 | €10,582 | -€2,212 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,794 | €10,582 | -€2,212 | -17.3% |
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 15 October 2026 via checked.be.