TWO POINTS: 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.
TWO POINTS
Largest movements
- Receivables within one year -€62,085
down €62,085 (-42.5%), from €145,983 to €83,899
of which Trade receivables: -€62,781
- Cash +€4,383
up €4,383 (+3.7%), from €118,289 to €122,672
mainly Receivables within one year (+€62,085) and Net result for the year (+€34,218)
- Trade debts -€73,410
down €73,410 (-97.9%), from €75,000 to €1,590
- Reserves +€34,218
up €34,218 (+25.1%), from €136,320 to €170,538
- Other debts -€22,125
down €22,125 (-71.1%), from €31,115 to €8,989
- Gross operating margin -€10,152
down €10,152 (-15.7%), from €64,528 to €54,376
- Taxes -€3,054
down €3,054 (-15.0%), from €20,357 to €17,304
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 | €267,745 | €208,444 | -€59,301 | -22.1% |
| Fixed assets | 21/28 | €2,946 | €1,152 | -€1,794 | -60.9% |
| Tangible fixed assets | 22/27 | €1,946 | €152 | -€1,794 | -92.2% |
| Plant, machinery and equipment | 23 | €1,946 | €152 | -€1,794 | -92.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €264,798 | €207,292 | -€57,507 | -21.7% |
| Amounts receivable within one year | 40/41 | €145,983 | €83,899 | -€62,085 | -42.5% |
| Trade receivables | 40 | €144,522 | €81,741 | -€62,781 | -43.4% |
| Other amounts receivable | 41 | €1,461 | €2,158 | +€696 | +47.7% |
| Cash at bank and in hand | 54/58 | €118,289 | €122,672 | +€4,383 | +3.7% |
| Deferred charges and accrued income | 490/1 | €526 | €721 | +€194 | +36.9% |
| Total equity and liabilities | 10/49 | €267,745 | €208,444 | -€59,301 | -22.1% |
| Equity | 10/15 | €149,348 | €183,567 | +€34,218 | +22.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €136,320 | €170,538 | +€34,218 | +25.1% |
| Distributable reserves | 133 | €136,320 | €170,538 | +€34,218 | +25.1% |
| Profit (loss) carried forward | 14 | €628 | €628 | -€0 | 0.0% |
| Amounts payable | 17/49 | €118,397 | €24,877 | -€93,519 | -79.0% |
| Amounts payable within one year | 42/48 | €118,332 | €23,959 | -€94,373 | -79.8% |
| Trade debts | 44 | €75,000 | €1,590 | -€73,410 | -97.9% |
| Suppliers | 440/4 | €75,000 | €1,590 | -€73,410 | -97.9% |
| Taxes, remuneration and social security | 45 | €12,217 | €13,379 | +€1,162 | +9.5% |
| Taxes | 450/3 | €12,217 | €13,379 | +€1,162 | +9.5% |
| Other amounts payable | 47/48 | €31,115 | €8,989 | -€22,125 | -71.1% |
| Accrued charges and deferred income | 492/3 | €64 | €918 | +€854 | +1332.9% |
| Non-recurring operating income | 76A | - | €2,680 | +€2,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,927 | €1,794 | -€133 | -6.9% |
| Other operating charges | 640/8 | €892 | €760 | -€132 | -14.8% |
| Gross operating margin | 9900 | €64,528 | €54,376 | -€10,152 | -15.7% |
| Operating profit (loss) | 9901 | €61,709 | €51,822 | -€9,887 | -16.0% |
| Financial income | 75/76B | €13 | €117 | +€105 | +814.7% |
| Recurring financial income | 75 | €13 | €117 | +€105 | +814.7% |
| Financial charges | 65/66B | €610 | €418 | -€192 | -31.5% |
| Recurring financial charges | 65 | €610 | €418 | -€192 | -31.5% |
| Profit (loss) for the period before taxes | 9903 | €61,112 | €51,522 | -€9,590 | -15.7% |
| Income taxes | 67/77 | €20,357 | €17,304 | -€3,054 | -15.0% |
| Profit (loss) for the period | 9904 | €40,755 | €34,218 | -€6,536 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,755 | €34,218 | -€6,536 | -16.0% |
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 7 October 2026 via checked.be.