USERS MATTER: 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.
USERS MATTER
Largest movements
- Cash -€217,228
down €217,228 (-72.0%), from €301,590 to €84,361
mainly Trade debts (-€145,564) and Investment in fixed assets (net) (-€121,728)
- Tangible fixed assets +€109,513
up €109,513 (+95.0%), from €115,316 to €224,830
of which Land and buildings: +€111,516
- Receivables within one year -€103,076
down €103,076 (-44.4%), from €232,242 to €129,166
of which Trade receivables: -€119,801
- Trade debts -€145,564
down €145,564 (-94.1%), from €154,724 to €9,160
- Profit (loss) carried forward -€45,512
down €45,512 (-24.2%), from €187,787 to €142,275
- Debts after one year -€17,813
down €17,813 (-10.1%), from €175,833 to €158,020
- Gross operating margin -€77,844
down €77,844 (-82.7%), from €94,151 to €16,307
- Staff costs -€20,697
down €20,697 (-33.6%), from €61,618 to €40,921
- Taxes -€8,305
down €8,305 (-97.8%), from €8,488 to €183
- Depreciation +€6,758
up €6,758 (+101%), from €6,670 to €13,429
- Financial charges +€4,005
up €4,005 (+106%), from €3,774 to €7,779
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 | €655,308 | €443,847 | -€211,461 | -32.3% |
| Fixed assets | 21/28 | €120,932 | €229,231 | +€108,299 | +89.6% |
| Intangible fixed assets | 21 | €5,616 | €4,401 | -€1,214 | -21.6% |
| Tangible fixed assets | 22/27 | €115,316 | €224,830 | +€109,513 | +95.0% |
| Land and buildings | 22 | €112,117 | €223,633 | +€111,516 | +99.5% |
| Furniture and vehicles | 24 | €3,199 | €1,197 | -€2,003 | -62.6% |
| Current assets | 29/58 | €534,376 | €214,616 | -€319,760 | -59.8% |
| Amounts receivable within one year | 40/41 | €232,242 | €129,166 | -€103,076 | -44.4% |
| Trade receivables | 40 | €223,689 | €103,888 | -€119,801 | -53.6% |
| Other amounts receivable | 41 | €8,553 | €25,279 | +€16,725 | +196% |
| Cash at bank and in hand | 54/58 | €301,590 | €84,361 | -€217,228 | -72.0% |
| Deferred charges and accrued income | 490/1 | €544 | €1,088 | +€544 | +100% |
| Total equity and liabilities | 10/49 | €655,308 | €443,847 | -€211,461 | -32.3% |
| Equity | 10/15 | €270,889 | €225,377 | -€45,512 | -16.8% |
| Reserves | 13 | €83,102 | €83,102 | = | 0.0% |
| Distributable reserves | 133 | €83,102 | €83,102 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,787 | €142,275 | -€45,512 | -24.2% |
| Amounts payable | 17/49 | €384,419 | €218,471 | -€165,949 | -43.2% |
| Amounts payable after more than one year | 17 | €175,833 | €158,020 | -€17,813 | -10.1% |
| Financial debts | 170/4 | €175,833 | €158,020 | -€17,813 | -10.1% |
| Amounts payable within one year | 42/48 | €208,587 | €60,451 | -€148,135 | -71.0% |
| Current portion of amounts payable after more than one year | 42 | €17,186 | €17,813 | +€627 | +3.6% |
| Trade debts | 44 | €154,724 | €9,160 | -€145,564 | -94.1% |
| Suppliers | 440/4 | €154,724 | €9,160 | -€145,564 | -94.1% |
| Taxes, remuneration and social security | 45 | €10,788 | €11,155 | +€367 | +3.4% |
| Taxes | 450/3 | €6,928 | €8,986 | +€2,057 | +29.7% |
| Remuneration and social security | 454/9 | €3,860 | €2,169 | -€1,691 | -43.8% |
| Other amounts payable | 47/48 | €25,888 | €22,323 | -€3,565 | -13.8% |
| Remuneration, social security and pensions | 62 | €61,618 | €40,921 | -€20,697 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,670 | €13,429 | +€6,758 | +101% |
| Other operating charges | 640/8 | €868 | €591 | -€277 | -31.9% |
| Gross operating margin | 9900 | €94,151 | €16,307 | -€77,844 | -82.7% |
| Operating profit (loss) | 9901 | €24,995 | -€38,634 | -€63,629 | |
| Financial income | 75/76B | €369 | €1,084 | +€715 | +194% |
| Recurring financial income | 75 | €369 | €1,084 | +€715 | +194% |
| Financial charges | 65/66B | €3,774 | €7,779 | +€4,005 | +106% |
| Recurring financial charges | 65 | €3,774 | €7,779 | +€4,005 | +106% |
| Profit (loss) for the period before taxes | 9903 | €21,590 | -€45,329 | -€66,919 | |
| Income taxes | 67/77 | €8,488 | €183 | -€8,305 | -97.8% |
| Profit (loss) for the period | 9904 | €13,102 | -€45,512 | -€58,614 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,102 | -€45,512 | -€58,614 |
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 18 October 2026 via checked.be.