UNLOCKED: 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.
UNLOCKED
Largest movements
- Receivables within one year -€432,049
down €432,049 (-32.3%), from €1.3m to €905,688
of which Trade receivables: -€529,806
- Cash -€412,572
down €412,572 (-76.2%), from €541,391 to €128,819
mainly Net result for the year (-€1.6m) and Tax, wage and social debts (-€526,096)
- Tangible fixed assets -€196,340
down €196,340 (-41.0%), from €479,435 to €283,095
of which Plant, machinery and equipment: -€155,190
- Deferred charges and accrued income -€114,712
down €114,712 (-99.4%), from €115,441 to €729
- Intangible fixed assets -€76,257
down €76,257 (-19.4%), from €393,833 to €317,576
- Profit (loss) carried forward -€1.2m
down €1.2m (-61.5%), from -€1.9m to -€3.1m
- Tax, wage and social debts -€526,096
down €526,096 (-81.4%), from €646,331 to €120,235
of which Taxes: -€496,728
- Debts after one year +€482,490
up €482,490 (+226%), from €213,585 to €696,075
- Reserves -€442,050
down €442,050 (-22.1%), from €2.0m to €1.6m
of which Tax-exempt reserves: -€442,050
- Short-term financial debts +€200,000
new in 2024: €200,000
- Other operating charges -€355,559
down €355,559 (-52.5%), from €677,497 to €321,938
- Staff costs -€328,336
down €328,336 (-26.2%), from €1.3m to €924,442
- Gross operating margin -€48,127
down €48,127 (-148%), from -€32,562 to -€80,689
- Financial income +€19,474
up €19,474 (+48.0%), from €40,544 to €60,018
- Depreciation +€8,213
up €8,213 (+2.8%), from €291,560 to €299,773
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,239,247 | €2,005,761 | -€1.2m | -38.1% |
| Fixed assets | 21/28 | €1,055,919 | €781,766 | -€274,153 | -26.0% |
| Intangible fixed assets | 21 | €393,833 | €317,576 | -€76,257 | -19.4% |
| Tangible fixed assets | 22/27 | €479,435 | €283,095 | -€196,340 | -41.0% |
| Plant, machinery and equipment | 23 | €365,684 | €210,494 | -€155,190 | -42.4% |
| Furniture and vehicles | 24 | €113,751 | €72,601 | -€41,151 | -36.2% |
| Financial fixed assets | 28 | €182,651 | €181,095 | -€1,556 | -0.9% |
| Current assets | 29/58 | €2,183,328 | €1,223,995 | -€959,333 | -43.9% |
| Stocks and contracts in progress | 3 | €188,759 | €188,759 | = | 0.0% |
| Stocks | 30/36 | €188,759 | €188,759 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,337,737 | €905,688 | -€432,049 | -32.3% |
| Trade receivables | 40 | €1,076,971 | €547,165 | -€529,806 | -49.2% |
| Other amounts receivable | 41 | €260,766 | €358,523 | +€97,758 | +37.5% |
| Cash at bank and in hand | 54/58 | €541,391 | €128,819 | -€412,572 | -76.2% |
| Deferred charges and accrued income | 490/1 | €115,441 | €729 | -€114,712 | -99.4% |
| Total equity and liabilities | 10/49 | €3,239,247 | €2,005,761 | -€1.2m | -38.1% |
| Equity | 10/15 | €1,779,402 | €150,510 | -€1.6m | -91.5% |
| Contributions | 10/11 | €1,708,770 | €1,708,770 | = | 0.0% |
| Reserves | 13 | €2,001,860 | €1,559,810 | -€442,050 | -22.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €2,000,000 | €1,557,950 | -€442,050 | -22.1% |
| Profit (loss) carried forward | 14 | -€1,931,228 | -€3,118,071 | -€1.2m | -61.5% |
| Amounts payable | 17/49 | €1,459,845 | €1,855,251 | +€395,407 | +27.1% |
| Amounts payable after more than one year | 17 | €213,585 | €696,075 | +€482,490 | +226% |
| Financial debts | 170/4 | €213,585 | €696,075 | +€482,490 | +226% |
| Amounts payable within one year | 42/48 | €1,246,260 | €974,547 | -€271,713 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €72,161 | €5,346 | -€66,815 | -92.6% |
| Financial debts | 43 | - | €200,000 | +€200,000 | |
| Credit institutions | 430/8 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €513,832 | €634,447 | +€120,615 | +23.5% |
| Suppliers | 440/4 | €513,832 | €634,447 | +€120,615 | +23.5% |
| Taxes, remuneration and social security | 45 | €646,331 | €120,235 | -€526,096 | -81.4% |
| Taxes | 450/3 | €532,624 | €35,896 | -€496,728 | -93.3% |
| Remuneration and social security | 454/9 | €113,706 | €84,339 | -€29,367 | -25.8% |
| Other amounts payable | 47/48 | €13,935 | €14,519 | +€583 | +4.2% |
| Accrued charges and deferred income | 492/3 | - | €184,630 | +€184,630 | |
| Remuneration, social security and pensions | 62 | €1,252,778 | €924,442 | -€328,336 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €291,560 | €299,773 | +€8,213 | +2.8% |
| Other operating charges | 640/8 | €677,497 | €321,938 | -€355,559 | -52.5% |
| Gross operating margin | 9900 | -€32,562 | -€80,689 | -€48,127 | -148% |
| Operating profit (loss) | 9901 | -€2,254,397 | -€1,626,842 | +€627,555 | +27.8% |
| Financial income | 75/76B | €40,544 | €60,018 | +€19,474 | +48.0% |
| Recurring financial income | 75 | €40,544 | €60,018 | +€19,474 | +48.0% |
| Financial charges | 65/66B | €54,168 | €61,596 | +€7,429 | +13.7% |
| Recurring financial charges | 65 | €54,168 | €61,596 | +€7,429 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,268,020 | -€1,628,420 | +€639,600 | +28.2% |
| Income taxes | 67/77 | €1,360 | €472 | -€888 | -65.3% |
| Profit (loss) for the period | 9904 | -€2,269,381 | -€1,628,893 | +€640,488 | +28.2% |
| Transfer from tax-exempt reserves | 789 | - | €442,050 | +€442,050 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,269,381 | -€1,186,843 | +€1.1m | +47.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.