U-TURN: 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.
U-TURN
Largest movements
- Tangible fixed assets -€12,272
down €12,272 (-8.7%), from €141,202 to €128,930
of which Furniture and vehicles: -€8,235
- Cash -€9,190
down €9,190 (-34.7%), from €26,493 to €17,303
mainly Investment in fixed assets (net) (-€8,958) and Debts after one year (-€8,460)
- Receivables within one year +€7,345
up €7,345 (+62.9%), from €11,680 to €19,026
of which Trade receivables: +€6,702
- Debts after one year -€8,460
down €8,460 (-56.2%), from €15,066 to €6,606
- Tax, wage and social debts -€3,639
down €3,639 (-74.0%), from €4,918 to €1,279
- Profit (loss) carried forward -€3,501
down €3,501 (-13.6%), from €25,795 to €22,294
- Gross operating margin -€3,620
down €3,620 (-15.4%), from €23,495 to €19,875
- Taxes -€1,286
no longer reported in 2025 (was €1,286)
- Depreciation +€946
up €946 (+4.7%), from €20,284 to €21,230
- Financial charges -€480
down €480 (-30.0%), from €1,601 to €1,122
- Other operating charges -€277
down €277 (-21.3%), from €1,302 to €1,025
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 | €179,376 | €165,259 | -€14,117 | -7.9% |
| Fixed assets | 21/28 | €141,202 | €128,930 | -€12,272 | -8.7% |
| Tangible fixed assets | 22/27 | €141,202 | €128,930 | -€12,272 | -8.7% |
| Land and buildings | 22 | €104,541 | €102,129 | -€2,412 | -2.3% |
| Plant, machinery and equipment | 23 | €6,300 | €4,675 | -€1,625 | -25.8% |
| Furniture and vehicles | 24 | €30,362 | €22,126 | -€8,235 | -27.1% |
| Current assets | 29/58 | €38,173 | €36,329 | -€1,844 | -4.8% |
| Amounts receivable within one year | 40/41 | €11,680 | €19,026 | +€7,345 | +62.9% |
| Trade receivables | 40 | €11,680 | €18,383 | +€6,702 | +57.4% |
| Other amounts receivable | 41 | - | €643 | +€643 | |
| Cash at bank and in hand | 54/58 | €26,493 | €17,303 | -€9,190 | -34.7% |
| Total equity and liabilities | 10/49 | €179,376 | €165,259 | -€14,117 | -7.9% |
| Equity | 10/15 | €68,003 | €64,502 | -€3,501 | -5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,608 | €23,608 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,495 | €16,495 | = | 0.0% |
| Distributable reserves | 133 | €5,253 | €5,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,795 | €22,294 | -€3,501 | -13.6% |
| Amounts payable | 17/49 | €111,372 | €100,757 | -€10,615 | -9.5% |
| Amounts payable after more than one year | 17 | €15,066 | €6,606 | -€8,460 | -56.2% |
| Financial debts | 170/4 | €15,066 | €6,606 | -€8,460 | -56.2% |
| Amounts payable within one year | 42/48 | €95,665 | €92,590 | -€3,075 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €8,080 | €8,460 | +€381 | +4.7% |
| Trade debts | 44 | €1,275 | €1,403 | +€128 | +10.1% |
| Suppliers | 440/4 | €1,275 | €1,403 | +€128 | +10.1% |
| Taxes, remuneration and social security | 45 | €4,918 | €1,279 | -€3,639 | -74.0% |
| Taxes | 450/3 | €4,918 | €1,279 | -€3,639 | -74.0% |
| Other amounts payable | 47/48 | €81,393 | €81,448 | +€55 | +0.1% |
| Accrued charges and deferred income | 492/3 | €641 | €1,561 | +€920 | +144% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,284 | €21,230 | +€946 | +4.7% |
| Other operating charges | 640/8 | €1,302 | €1,025 | -€277 | -21.3% |
| Gross operating margin | 9900 | €23,495 | €19,875 | -€3,620 | -15.4% |
| Operating profit (loss) | 9901 | €1,909 | -€2,380 | -€4,288 | |
| Financial charges | 65/66B | €1,601 | €1,122 | -€480 | -30.0% |
| Recurring financial charges | 65 | €1,601 | €1,122 | -€480 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €307 | -€3,501 | -€3,809 | |
| Income taxes | 67/77 | €1,286 | - | -€1,286 | |
| Profit (loss) for the period | 9904 | -€978 | -€3,501 | -€2,523 | -258% |
| Profit (loss) for the period to be appropriated | 9905 | -€978 | -€3,501 | -€2,523 | -258% |
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 13 October 2026 via checked.be.