TRUE ODDS: 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.
TRUE ODDS
Largest movements
- Receivables within one year +€10,246
up €10,246 (+5.3%), from €192,873 to €203,118
of which Other amounts receivable: +€18,709
- Cash -€3,208
down €3,208 (-58.1%), from €5,526 to €2,318
mainly Receivables within one year (-€10,246) and Tax, wage and social debts (-€9,571)
- Tax, wage and social debts -€9,571
down €9,571 (-75.7%), from €12,640 to €3,069
- Profit (loss) carried forward +€8,431
up €8,431 (+8.4%), from €100,209 to €108,639
- Trade debts +€7,706
up €7,706 (+790.0%), from €975 to €8,681
- Gross operating margin -€14,698
down €14,698 (-53.1%), from €27,665 to €12,967
- Taxes -€4,149
down €4,149 (-57.5%), from €7,218 to €3,069
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 | €227,824 | €234,389 | +€6,565 | +2.9% |
| Fixed assets | 21/28 | €29,426 | €28,953 | -€472 | -1.6% |
| Tangible fixed assets | 22/27 | €1,890 | €1,417 | -€472 | -25.0% |
| Plant, machinery and equipment | 23 | €1,890 | €1,417 | -€472 | -25.0% |
| Financial fixed assets | 28 | €27,536 | €27,536 | = | 0.0% |
| Current assets | 29/58 | €198,399 | €205,436 | +€7,037 | +3.5% |
| Amounts receivable within one year | 40/41 | €192,873 | €203,118 | +€10,246 | +5.3% |
| Trade receivables | 40 | €34,238 | €25,774 | -€8,464 | -24.7% |
| Other amounts receivable | 41 | €158,635 | €177,344 | +€18,709 | +11.8% |
| Cash at bank and in hand | 54/58 | €5,526 | €2,318 | -€3,208 | -58.1% |
| Total equity and liabilities | 10/49 | €227,824 | €234,389 | +€6,565 | +2.9% |
| Equity | 10/15 | €174,209 | €182,639 | +€8,431 | +4.8% |
| Contributions | 10/11 | €74,000 | €74,000 | = | 0.0% |
| Capital | 10 | €74,000 | €74,000 | = | 0.0% |
| Issued capital | 100 | €74,000 | €74,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,209 | €108,639 | +€8,431 | +8.4% |
| Amounts payable | 17/49 | €53,616 | €51,750 | -€1,866 | -3.5% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,616 | €11,750 | -€1,866 | -13.7% |
| Trade debts | 44 | €975 | €8,681 | +€7,706 | +790.0% |
| Suppliers | 440/4 | €975 | €8,681 | +€7,706 | +790.0% |
| Taxes, remuneration and social security | 45 | €12,640 | €3,069 | -€9,571 | -75.7% |
| Taxes | 450/3 | €12,640 | €3,069 | -€9,571 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €472 | €472 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €27,665 | €12,967 | -€14,698 | -53.1% |
| Operating profit (loss) | 9901 | €26,687 | €11,975 | -€14,712 | -55.1% |
| Financial charges | 65/66B | €215 | €475 | +€260 | +120.9% |
| Recurring financial charges | 65 | €215 | €475 | +€260 | +120.9% |
| Profit (loss) for the period before taxes | 9903 | €26,472 | €11,499 | -€14,972 | -56.6% |
| Income taxes | 67/77 | €7,218 | €3,069 | -€4,149 | -57.5% |
| Profit (loss) for the period | 9904 | €19,254 | €8,431 | -€10,823 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €19,254 | €8,431 | -€10,823 | -56.2% |
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 1 October 2026 via checked.be.