uest: 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.
uest
Largest movements
- Cash -€18,881
down €18,881 (-82.5%), from €22,875 to €3,995
mainly Debts after one year (-€460,000) and Trade debts (-€197,811)
- Receivables within one year +€8,237
up €8,237 (+26.5%), from €31,090 to €39,327
of which Trade receivables: +€6,153
- Profit (loss) carried forward +€9.5m
up €9.5m (+97.8%), from -€9.7m to -€208,640
- Contributions -€8.9m
down €8.9m (-99.3%), from €9.0m to €61,500
of which Capital: -€8.0m
- Debts after one year -€460,000
no longer reported in 2025 (was €460,000)
- Trade debts -€197,811
down €197,811 (-54.2%), from €365,063 to €167,252
- Other debts +€190,000
new in 2025: €190,000
- Gross operating margin -€187,523
down €187,523 (-145%), from -€129,135 to -€316,658
- Write-downs -€73,757
no longer reported in 2025 (was €73,757)
- Financial income +€66,757
up €66,757 (+7.5%), from €893,349 to €960,105
of which Financial income: +€66,757
- Provisions -€32,500
new in 2025: -€32,500
- Staff costs -€17,434
down €17,434 (-11.3%), from €153,817 to €136,383
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 | €247,121 | €237,626 | -€9,496 | -3.8% |
| Fixed assets | 21/28 | €180,265 | €182,403 | +€2,138 | +1.2% |
| Intangible fixed assets | 21 | €180,264 | €182,402 | +€2,138 | +1.2% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €66,856 | €55,223 | -€11,634 | -17.4% |
| Stocks and contracts in progress | 3 | €12,891 | €11,901 | -€990 | -7.7% |
| Stocks | 30/36 | €12,891 | €11,901 | -€990 | -7.7% |
| Amounts receivable within one year | 40/41 | €31,090 | €39,327 | +€8,237 | +26.5% |
| Trade receivables | 40 | €7,581 | €13,734 | +€6,153 | +81.2% |
| Other amounts receivable | 41 | €23,509 | €25,593 | +€2,084 | +8.9% |
| Cash at bank and in hand | 54/58 | €22,875 | €3,995 | -€18,881 | -82.5% |
| Total equity and liabilities | 10/49 | €247,121 | €237,626 | -€9,496 | -3.8% |
| Equity | 10/15 | -€682,886 | -€147,140 | +€535,745 | +78.5% |
| Contributions | 10/11 | €9,002,616 | €61,500 | -€8.9m | -99.3% |
| Capital | 10 | €8,084,465 | €61,500 | -€8.0m | -99.2% |
| Issued capital | 100 | €8,084,465 | €61,500 | -€8.0m | -99.2% |
| Contributions outside capital | 11 | €918,151 | - | -€918,151 | |
| Share premium | 1100/10 | €918,151 | - | -€918,151 | |
| Profit (loss) carried forward | 14 | -€9,685,502 | -€208,640 | +€9.5m | +97.8% |
| Provisions and deferred taxes | 16 | €32,500 | - | -€32,500 | |
| Provisions for liabilities and charges | 160/5 | €32,500 | - | -€32,500 | |
| Other liabilities and charges | 164/5 | €32,500 | - | -€32,500 | |
| Amounts payable | 17/49 | €897,507 | €384,766 | -€512,741 | -57.1% |
| Amounts payable after more than one year | 17 | €460,000 | - | -€460,000 | |
| Financial debts | 170/4 | €460,000 | - | -€460,000 | |
| Amounts payable within one year | 42/48 | €437,507 | €384,766 | -€52,741 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €44,208 | - | -€44,208 | |
| Trade debts | 44 | €365,063 | €167,252 | -€197,811 | -54.2% |
| Suppliers | 440/4 | €365,063 | €167,252 | -€197,811 | -54.2% |
| Taxes, remuneration and social security | 45 | €28,236 | €27,514 | -€722 | -2.6% |
| Taxes | 450/3 | €11,172 | €10,815 | -€357 | -3.2% |
| Remuneration and social security | 454/9 | €17,065 | €16,699 | -€365 | -2.1% |
| Other amounts payable | 47/48 | - | €190,000 | +€190,000 | |
| Remuneration, social security and pensions | 62 | €153,817 | €136,383 | -€17,434 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,469 | €97,862 | -€13,607 | -12.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €73,757 | - | -€73,757 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€32,500 | -€32,500 | |
| Other operating charges | 640/8 | €813 | €3,189 | +€2,376 | +292% |
| Non-recurring operating charges | 66A | €163 | - | -€163 | |
| Gross operating margin | 9900 | -€129,135 | -€316,658 | -€187,523 | -145% |
| Operating profit (loss) | 9901 | -€469,155 | -€521,592 | -€52,437 | -11.2% |
| Financial income | 75/76B | €893,349 | €960,105 | +€66,757 | +7.5% |
| Recurring financial income | 75 | €893,349 | €960,105 | +€66,757 | +7.5% |
| Non-recurring financial income | 76B | €893,349 | €960,105 | +€66,757 | +7.5% |
| Financial charges | 65/66B | €9,190 | €2,768 | -€6,422 | -69.9% |
| Recurring financial charges | 65 | €9,190 | €2,768 | -€6,422 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €415,004 | €435,746 | +€20,742 | +5.0% |
| Profit (loss) for the period | 9904 | €415,004 | €435,746 | +€20,742 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €415,004 | €435,746 | +€20,742 | +5.0% |
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.