VERDAD: 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.
VERDAD
Largest movements
- Cash -€27,251
down €27,251 (-53.1%), from €51,321 to €24,069
mainly Other debts (-€41,569) and Contributions, distributions and other (-€2,499)
- Deferred charges and accrued income -€12,000
no longer reported in 2025 (was €12,000)
- Other debts -€41,569
down €41,569 (-43.1%), from €96,471 to €54,902
- Reserves +€3,830
up €3,830 (+4.3%), from €90,048 to €93,878
- Gross operating margin -€16,338
down €16,338 (-48.7%), from €33,532 to €17,194
- Taxes -€4,686
down €4,686 (-64.1%), from €7,306 to €2,620
- Financial charges -€2,402
down €2,402 (-33.2%), from €7,239 to €4,837
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 | €254,901 | €217,029 | -€37,872 | -14.9% |
| Fixed assets | 21/28 | €191,580 | €191,580 | = | 0.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €191,580 | €191,580 | = | 0.0% |
| Land and buildings | 22 | €191,580 | €191,580 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €63,321 | €25,449 | -€37,872 | -59.8% |
| Amounts receivable within one year | 40/41 | - | €1,380 | +€1,380 | |
| Other amounts receivable | 41 | - | €1,380 | +€1,380 | |
| Cash at bank and in hand | 54/58 | €51,321 | €24,069 | -€27,251 | -53.1% |
| Deferred charges and accrued income | 490/1 | €12,000 | - | -€12,000 | |
| Total equity and liabilities | 10/49 | €254,901 | €217,029 | -€37,872 | -14.9% |
| Equity | 10/15 | €152,048 | €155,878 | +€3,830 | +2.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €90,048 | €93,878 | +€3,830 | +4.3% |
| Distributable reserves | 133 | €90,048 | €93,878 | +€3,830 | +4.3% |
| Amounts payable | 17/49 | €102,853 | €61,151 | -€41,702 | -40.5% |
| Amounts payable within one year | 42/48 | €102,853 | €61,151 | -€41,702 | -40.5% |
| Trade debts | 44 | €194 | €753 | +€558 | +287.5% |
| Suppliers | 440/4 | €194 | €753 | +€558 | +287.5% |
| Taxes, remuneration and social security | 45 | €6,188 | €5,497 | -€691 | -11.2% |
| Taxes | 450/3 | €6,188 | €5,497 | -€691 | -11.2% |
| Other amounts payable | 47/48 | €96,471 | €54,902 | -€41,569 | -43.1% |
| Non-recurring operating income | 76A | €11,572 | - | -€11,572 | |
| Other operating charges | 640/8 | €3,310 | €3,407 | +€97 | +2.9% |
| Gross operating margin | 9900 | €33,532 | €17,194 | -€16,338 | -48.7% |
| Operating profit (loss) | 9901 | €30,222 | €13,787 | -€16,435 | -54.4% |
| Financial charges | 65/66B | €7,239 | €4,837 | -€2,402 | -33.2% |
| Recurring financial charges | 65 | €7,239 | €4,837 | -€2,402 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €22,983 | €8,950 | -€14,033 | -61.1% |
| Income taxes | 67/77 | €7,306 | €2,620 | -€4,686 | -64.1% |
| Profit (loss) for the period | 9904 | €15,677 | €6,329 | -€9,347 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,677 | €6,329 | -€9,347 | -59.6% |
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 3 October 2026 via checked.be.