USERFULL: 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.
USERFULL
Largest movements
- Intangible fixed assets -€111,331
down €111,331 (-37.7%), from €295,376 to €184,045
- Tangible fixed assets -€50,194
down €50,194 (-46.2%), from €108,637 to €58,443
of which Furniture and vehicles: -€35,785
- Receivables within one year +€24,712
up €24,712 (+3.3%), from €758,709 to €783,421
of which Trade receivables: +€102,103
- Deferred charges and accrued income +€14,614
up €14,614 (+27.0%), from €54,124 to €68,738
- Tax, wage and social debts -€99,999
down €99,999 (-22.8%), from €439,298 to €339,299
of which Remuneration and social security: -€112,912
- Other debts +€90,000
up €90,000, from €0 to €90,000
- Debts after one year -€61,105
down €61,105 (-29.4%), from €207,824 to €146,719
- Short-term financial debts -€49,150
down €49,150 (-100.0%), from €49,150 to €0
- Staff costs -€359,192
down €359,192 (-16.1%), from €2.2m to €1.9m
- Gross operating margin -€163,204
down €163,204 (-6.9%), from €2.4m to €2.2m
- Write-downs -€75,135
down €75,135, from €0 to -€75,135
- Other operating charges +€70,165
up €70,165 (+230.3%), from €30,462 to €100,627
- Taxes +€35,191
up €35,191 (+87.7%), from €40,110 to €75,301
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 | €1,434,151 | €1,319,619 | -€114,533 | -8.0% |
| Fixed assets | 21/28 | €404,568 | €243,044 | -€161,524 | -39.9% |
| Intangible fixed assets | 21 | €295,376 | €184,045 | -€111,331 | -37.7% |
| Tangible fixed assets | 22/27 | €108,637 | €58,443 | -€50,194 | -46.2% |
| Plant, machinery and equipment | 23 | €24,133 | €20,482 | -€3,651 | -15.1% |
| Furniture and vehicles | 24 | €55,571 | €19,786 | -€35,785 | -64.4% |
| Other tangible fixed assets | 26 | €28,933 | €18,175 | -€10,758 | -37.2% |
| Financial fixed assets | 28 | €556 | €556 | = | 0.0% |
| Current assets | 29/58 | €1,029,583 | €1,076,575 | +€46,992 | +4.6% |
| Amounts receivable within one year | 40/41 | €758,709 | €783,421 | +€24,712 | +3.3% |
| Trade receivables | 40 | €670,397 | €772,500 | +€102,103 | +15.2% |
| Other amounts receivable | 41 | €88,312 | €10,921 | -€77,392 | -87.6% |
| Cash at bank and in hand | 54/58 | €216,750 | €224,416 | +€7,666 | +3.5% |
| Deferred charges and accrued income | 490/1 | €54,124 | €68,738 | +€14,614 | +27.0% |
| Total equity and liabilities | 10/49 | €1,434,151 | €1,319,619 | -€114,533 | -8.0% |
| Equity | 10/15 | €498,724 | €501,244 | +€2,520 | +0.5% |
| Contributions | 10/11 | €107,834 | €107,834 | = | 0.0% |
| Capital | 10 | €107,834 | €107,834 | = | 0.0% |
| Issued capital | 100 | €107,834 | €107,834 | = | 0.0% |
| Reserves | 13 | €390,890 | €393,410 | +€2,520 | +0.6% |
| Non-distributable reserves | 130/1 | €10,783 | €10,783 | = | 0.0% |
| Legal reserve | 130 | €10,783 | €10,783 | = | 0.0% |
| Distributable reserves | 133 | €380,107 | €382,627 | +€2,520 | +0.7% |
| Amounts payable | 17/49 | €935,427 | €818,375 | -€117,053 | -12.5% |
| Amounts payable after more than one year | 17 | €207,824 | €146,719 | -€61,105 | -29.4% |
| Financial debts | 170/4 | €207,824 | €146,719 | -€61,105 | -29.4% |
| Amounts payable within one year | 42/48 | €692,001 | €635,845 | -€56,156 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €57,870 | €58,043 | +€172 | +0.3% |
| Financial debts | 43 | €49,150 | €0 | -€49,150 | -100.0% |
| Credit institutions | 430/8 | €49,150 | €0 | -€49,150 | -100.0% |
| Trade debts | 44 | €145,682 | €148,503 | +€2,821 | +1.9% |
| Suppliers | 440/4 | €145,682 | €148,503 | +€2,821 | +1.9% |
| Taxes, remuneration and social security | 45 | €439,298 | €339,299 | -€99,999 | -22.8% |
| Taxes | 450/3 | €82,899 | €95,812 | +€12,913 | +15.6% |
| Remuneration and social security | 454/9 | €356,399 | €243,487 | -€112,912 | -31.7% |
| Other amounts payable | 47/48 | €0 | €90,000 | +€90,000 | |
| Accrued charges and deferred income | 492/3 | €35,603 | €35,811 | +€208 | +0.6% |
| Non-recurring operating income | 76A | €0 | €3,966 | +€3,966 | |
| Remuneration, social security and pensions | 62 | €2,232,029 | €1,872,838 | -€359,192 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,323 | €156,702 | -€9,622 | -5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€75,135 | -€75,135 | |
| Other operating charges | 640/8 | €30,462 | €100,627 | +€70,165 | +230.3% |
| Non-recurring operating charges | 66A | - | €2,674 | +€2,674 | |
| Gross operating margin | 9900 | €2,356,693 | €2,193,489 | -€163,204 | -6.9% |
| Operating profit (loss) | 9901 | -€72,122 | €135,784 | +€207,906 | |
| Financial income | 75/76B | €2,390 | €2,621 | +€232 | +9.7% |
| Recurring financial income | 75 | €2,390 | €2,621 | +€232 | +9.7% |
| Financial charges | 65/66B | €56,323 | €60,585 | +€4,262 | +7.6% |
| Recurring financial charges | 65 | €56,323 | €60,585 | +€4,262 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€126,055 | €77,820 | +€203,875 | |
| Income taxes | 67/77 | €40,110 | €75,301 | +€35,191 | +87.7% |
| Profit (loss) for the period | 9904 | -€166,165 | €2,520 | +€168,685 | |
| Profit (loss) for the period to be appropriated | 9905 | -€166,165 | €2,520 | +€168,685 |
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 6 October 2026 via checked.be.