Twenty Seven: 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.
Twenty Seven
Largest movements
- Receivables within one year -€25,249
down €25,249 (-29.9%), from €84,337 to €59,088
of which Trade receivables: -€24,607
- Tangible fixed assets -€5,519
down €5,519 (-36.6%), from €15,087 to €9,568
of which Other tangible fixed assets: -€5,658
- Cash +€2,922
up €2,922 (+25.7%), from €11,380 to €14,301
mainly Receivables within one year (+€25,249) and Trade debts (+€10,312)
- Deferred charges and accrued income +€2,746
new in 2025: €2,746
- Profit (loss) carried forward -€27,565
down €27,565 (-20.8%), from -€132,644 to -€160,209
- Other debts -€13,005
down €13,005 (-9.8%), from €132,483 to €119,478
- Trade debts +€10,312
up €10,312 (+155%), from €6,652 to €16,964
- Accrued charges and deferred income +€2,556
up €2,556 (+353%), from €724 to €3,279
- Tax, wage and social debts +€2,102
up €2,102 (+16.8%), from €12,528 to €14,630
of which Remuneration and social security: +€4,652
- Gross operating margin -€15,553
down €15,553 (-18.7%), from €83,099 to €67,547
- Staff costs -€9,118
down €9,118 (-10.5%), from €86,667 to €77,549
- Other operating charges +€6,604
up €6,604 (+1,705%), from €387 to €6,991
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 | €115,819 | €90,308 | -€25,511 | -22.0% |
| Fixed assets | 21/28 | €17,600 | €12,081 | -€5,519 | -31.4% |
| Tangible fixed assets | 22/27 | €15,087 | €9,568 | -€5,519 | -36.6% |
| Plant, machinery and equipment | 23 | €1,755 | €2,604 | +€848 | +48.3% |
| Furniture and vehicles | 24 | €710 | - | -€710 | |
| Other tangible fixed assets | 26 | €12,622 | €6,964 | -€5,658 | -44.8% |
| Financial fixed assets | 28 | €2,514 | €2,514 | = | 0.0% |
| Current assets | 29/58 | €98,218 | €78,227 | -€19,992 | -20.4% |
| Stocks and contracts in progress | 3 | €2,502 | €2,091 | -€410 | -16.4% |
| Stocks | 30/36 | €2,502 | €2,091 | -€410 | -16.4% |
| Amounts receivable within one year | 40/41 | €84,337 | €59,088 | -€25,249 | -29.9% |
| Trade receivables | 40 | €82,508 | €57,901 | -€24,607 | -29.8% |
| Other amounts receivable | 41 | €1,829 | €1,187 | -€642 | -35.1% |
| Cash at bank and in hand | 54/58 | €11,380 | €14,301 | +€2,922 | +25.7% |
| Deferred charges and accrued income | 490/1 | - | €2,746 | +€2,746 | |
| Total equity and liabilities | 10/49 | €115,819 | €90,308 | -€25,511 | -22.0% |
| Equity | 10/15 | -€38,568 | -€66,133 | -€27,565 | -71.5% |
| Contributions | 10/11 | €85,523 | €85,523 | = | 0.0% |
| Capital | 10 | €85,523 | €85,523 | = | 0.0% |
| Issued capital | 100 | €85,523 | €85,523 | = | 0.0% |
| Reserves | 13 | €8,552 | €8,552 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,552 | €8,552 | = | 0.0% |
| Legal reserve | 130 | €8,552 | €8,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,644 | -€160,209 | -€27,565 | -20.8% |
| Amounts payable | 17/49 | €154,387 | €156,441 | +€2,055 | +1.3% |
| Amounts payable within one year | 42/48 | €153,663 | €153,162 | -€501 | -0.3% |
| Trade debts | 44 | €6,652 | €16,964 | +€10,312 | +155% |
| Suppliers | 440/4 | €6,652 | €16,964 | +€10,312 | +155% |
| Advances received on contracts in progress | 46 | €2,000 | €2,091 | +€91 | +4.5% |
| Taxes, remuneration and social security | 45 | €12,528 | €14,630 | +€2,102 | +16.8% |
| Taxes | 450/3 | €3,333 | €783 | -€2,550 | -76.5% |
| Remuneration and social security | 454/9 | €9,195 | €13,847 | +€4,652 | +50.6% |
| Other amounts payable | 47/48 | €132,483 | €119,478 | -€13,005 | -9.8% |
| Accrued charges and deferred income | 492/3 | €724 | €3,279 | +€2,556 | +353% |
| Remuneration, social security and pensions | 62 | €86,667 | €77,549 | -€9,118 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,974 | €7,130 | +€156 | +2.2% |
| Other operating charges | 640/8 | €387 | €6,991 | +€6,604 | +1,705% |
| Gross operating margin | 9900 | €83,099 | €67,547 | -€15,553 | -18.7% |
| Operating profit (loss) | 9901 | -€10,929 | -€24,123 | -€13,195 | -121% |
| Financial income | 75/76B | €3 | €162 | +€159 | +5,020% |
| Recurring financial income | 75 | €3 | €162 | +€159 | +5,020% |
| Financial charges | 65/66B | €3,785 | €3,604 | -€181 | -4.8% |
| Recurring financial charges | 65 | €3,785 | €3,604 | -€181 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,711 | -€27,565 | -€12,854 | -87.4% |
| Profit (loss) for the period | 9904 | -€14,711 | -€27,565 | -€12,854 | -87.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,711 | -€27,565 | -€12,854 | -87.4% |
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 23 October 2026 via checked.be.