UPS AND DOWNS: 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.
UPS AND DOWNS
Largest movements
- Stocks and contracts -€8,347
down €8,347 (-38.9%), from €21,455 to €13,108
- Receivables within one year +€3,001
up €3,001 (+47.4%), from €6,331 to €9,332
- Reserves -€3,099
down €3,099 (-2.2%), from €143,234 to €140,136
- Tax, wage and social debts -€2,169
down €2,169 (-22.5%), from €9,630 to €7,461
- Gross operating margin -€12,164
down €12,164, from €6,282 to -€5,882
- Taxes -€2,932
down €2,932 (-93.3%), from €3,142 to €209
- Depreciation +€668
up €668 (+182.3%), from €366 to €1,034
- Financial income -€589
down €589 (-11.2%), from €5,249 to €4,659
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 | €157,218 | €152,299 | -€4,919 | -3.1% |
| Fixed assets | 21/28 | €1,656 | €1,895 | +€239 | +14.4% |
| Tangible fixed assets | 22/27 | €1,656 | €1,895 | +€239 | +14.4% |
| Plant, machinery and equipment | 23 | €1,656 | €726 | -€930 | -56.2% |
| Furniture and vehicles | 24 | €0 | €1,169 | +€1,169 | |
| Current assets | 29/58 | €155,562 | €150,404 | -€5,158 | -3.3% |
| Stocks and contracts in progress | 3 | €21,455 | €13,108 | -€8,347 | -38.9% |
| Stocks | 30/36 | €21,455 | €13,108 | -€8,347 | -38.9% |
| Amounts receivable within one year | 40/41 | €6,331 | €9,332 | +€3,001 | +47.4% |
| Other amounts receivable | 41 | €6,331 | €9,332 | +€3,001 | +47.4% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €76,633 | €76,803 | +€170 | +0.2% |
| Deferred charges and accrued income | 490/1 | €1,143 | €1,160 | +€17 | +1.5% |
| Total equity and liabilities | 10/49 | €157,218 | €152,299 | -€4,919 | -3.1% |
| Equity | 10/15 | €143,234 | €139,621 | -€3,613 | -2.5% |
| Reserves | 13 | €143,234 | €140,136 | -€3,099 | -2.2% |
| Distributable reserves | 133 | €143,234 | €140,136 | -€3,099 | -2.2% |
| Profit (loss) carried forward | 14 | - | -€514 | -€514 | |
| Amounts payable | 17/49 | €13,984 | €12,677 | -€1,307 | -9.3% |
| Amounts payable within one year | 42/48 | €13,984 | €12,477 | -€1,507 | -10.8% |
| Trade debts | 44 | €1,306 | €1,085 | -€222 | -17.0% |
| Suppliers | 440/4 | €1,306 | €1,085 | -€222 | -17.0% |
| Taxes, remuneration and social security | 45 | €9,630 | €7,461 | -€2,169 | -22.5% |
| Taxes | 450/3 | €9,630 | €7,461 | -€2,169 | -22.5% |
| Other amounts payable | 47/48 | €3,047 | €3,931 | +€885 | +29.0% |
| Accrued charges and deferred income | 492/3 | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €366 | €1,034 | +€668 | +182.3% |
| Other operating charges | 640/8 | €922 | €943 | +€21 | +2.3% |
| Gross operating margin | 9900 | €6,282 | -€5,882 | -€12,164 | |
| Operating profit (loss) | 9901 | €4,994 | -€7,859 | -€12,853 | |
| Financial income | 75/76B | €5,249 | €4,659 | -€589 | -11.2% |
| Recurring financial income | 75 | €5,249 | €4,659 | -€589 | -11.2% |
| Financial charges | 65/66B | €235 | €204 | -€32 | -13.5% |
| Recurring financial charges | 65 | €235 | €204 | -€32 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €10,007 | -€3,404 | -€13,410 | |
| Income taxes | 67/77 | €3,142 | €209 | -€2,932 | -93.3% |
| Profit (loss) for the period | 9904 | €6,865 | -€3,613 | -€10,478 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,865 | -€3,613 | -€10,478 |
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 10 October 2026 via checked.be.