VALUE CARE: 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.
VALUE CARE
Largest movements
- Financial fixed assets -€1.0m
down €1.0m (-99.9%), from €1.0m to €800
- Receivables within one year +€202,118
up €202,118 (+28.4%), from €712,477 to €914,595
of which Trade receivables: +€554,062
- Receivables after one year +€28,730
new in 2021: €28,730
- Equity -€1.5m
down €1.5m, from €201,714 to -€1.3m
of which Profit (loss) carried forward: -€1.3m
- Debts +€700,256
up €700,256 (+46.7%), from €1.5m to €2.2m
of which Debts within one year: +€589,711
- Financial charges +€1.0m
new in 2021: €1.0m
of which Non-recurring financial charges: +€1.0m
- Gross operating margin -€569,935
down €569,935, from €111,633 to -€458,303
- Taxes -€6,079
down €6,079 (-97.6%), from €6,228 to €149
- Financial income +€4,922
new in 2021: €4,922
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,713,277 | €955,887 | -€757,389 | -44.2% |
| Fixed assets | 21/28 | €1,000,800 | €7,642 | -€993,158 | -99.2% |
| Tangible fixed assets | 22/27 | - | €6,842 | +€6,842 | |
| Furniture and vehicles | 24 | - | €6,842 | +€6,842 | |
| Financial fixed assets | 28 | €1,000,800 | €800 | -€1.0m | -99.9% |
| Current assets | 29/58 | €712,477 | €948,245 | +€235,768 | +33.1% |
| Amounts receivable after more than one year | 29 | - | €28,730 | +€28,730 | |
| Other amounts receivable | 291 | - | €28,730 | +€28,730 | |
| Amounts receivable within one year | 40/41 | €712,477 | €914,595 | +€202,118 | +28.4% |
| Trade receivables | 40 | - | €554,062 | +€554,062 | |
| Other amounts receivable | 41 | - | €360,533 | +€360,533 | |
| Deferred charges and accrued income | 490/1 | - | €4,921 | +€4,921 | |
| Total equity and liabilities | 10/49 | €1,713,277 | €955,887 | -€757,389 | -44.2% |
| Equity | 10/15 | €201,714 | -€1,255,931 | -€1.5m | |
| Contributions | 10/11 | - | €12,400 | +€12,400 | |
| Reserves | 13 | €189,314 | €1,860 | -€187,454 | -99.0% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €0 | = | |
| Profit (loss) carried forward | 14 | - | -€1,270,191 | -€1.3m | |
| Provisions and deferred taxes | 16 | €12,000 | €12,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | - | €12,000 | +€12,000 | |
| Other liabilities and charges | 164/5 | - | €12,000 | +€12,000 | |
| Amounts payable | 17/49 | €1,499,562 | €2,199,819 | +€700,256 | +46.7% |
| Amounts payable after more than one year | 17 | €371,094 | €481,094 | +€110,000 | +29.6% |
| Financial debts | 170/4 | - | €481,094 | +€481,094 | |
| Amounts payable within one year | 42/48 | €1,089,811 | €1,679,523 | +€589,711 | +54.1% |
| Current portion of amounts payable after more than one year | 42 | - | €207,275 | +€207,275 | |
| Financial debts | 43 | - | €5,888 | +€5,888 | |
| Credit institutions | 430/8 | - | €5,888 | +€5,888 | |
| Trade debts | 44 | €275,061 | €778,398 | +€503,337 | +183.0% |
| Suppliers | 440/4 | - | €778,398 | +€778,398 | |
| Advances received on contracts in progress | 46 | - | €522,432 | +€522,432 | |
| Taxes, remuneration and social security | 45 | - | €61,042 | +€61,042 | |
| Taxes | 450/3 | - | €61,042 | +€61,042 | |
| Other amounts payable | 47/48 | - | €104,487 | +€104,487 | |
| Accrued charges and deferred income | 492/3 | - | €39,201 | +€39,201 | |
| Non-recurring operating income | 76A | - | €5,734 | +€5,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €318 | +€318 | |
| Other operating charges | 640/8 | - | €2,699 | +€2,699 | |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €111,633 | -€458,303 | -€569,935 | |
| Operating profit (loss) | 9901 | €95,740 | -€461,319 | -€557,059 | |
| Financial income | 75/76B | - | €4,922 | +€4,922 | |
| Recurring financial income | 75 | €10,673 | €4,922 | -€5,751 | -53.9% |
| Financial charges | 65/66B | - | €1,001,099 | +€1.0m | |
| Recurring financial charges | 65 | €23,213 | €1,099 | -€22,114 | -95.3% |
| Non-recurring financial charges | 66B | - | €1,000,000 | +€1.0m | |
| Profit (loss) for the period before taxes | 9903 | €83,200 | -€1,457,496 | -€1.5m | |
| Income taxes | 67/77 | €6,228 | €149 | -€6,079 | -97.6% |
| Profit (loss) for the period | 9904 | €76,972 | -€1,457,646 | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €76,972 | -€1,457,646 | -€1.5m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.