VERSUS: 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.
VERSUS
Largest movements
- Deferred charges and accrued income +€11,161
up €11,161 (+666.4%), from €1,675 to €12,835
- Receivables within one year +€6,427
up €6,427 (+164.1%), from €3,917 to €10,344
of which Trade receivables: +€5,578
- Cash -€3,622
down €3,622 (-97.0%), from €3,736 to €114
mainly Net result for the year (-€33,963) and Deferred charges and accrued income (-€11,161)
- Tangible fixed assets -€2,039
down €2,039 (-27.1%), from €7,527 to €5,488
of which Furniture and vehicles: -€1,799
- Profit (loss) carried forward -€33,963
down €33,963 (-193.5%), from -€17,551 to -€51,514
- Other debts +€33,266
up €33,266 (+608.8%), from €5,464 to €38,730
- Trade debts +€17,387
up €17,387 (+1481.2%), from €1,174 to €18,561
- Tax, wage and social debts -€4,954
down €4,954 (-53.9%), from €9,184 to €4,230
- Gross operating margin -€18,039
down €18,039 (-186.3%), from -€9,681 to -€27,720
- Financial charges -€1,401
down €1,401 (-34.6%), from €4,054 to €2,653
- Other operating charges -€500
down €500 (-28.2%), from €1,772 to €1,272
- Depreciation +€450
up €450 (+25.3%), from €1,780 to €2,230
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 | €17,237 | €28,973 | +€11,736 | +68.1% |
| Formation expenses | 20 | €383 | €192 | -€192 | -50.0% |
| Fixed assets | 21/28 | €7,527 | €5,488 | -€2,039 | -27.1% |
| Tangible fixed assets | 22/27 | €7,527 | €5,488 | -€2,039 | -27.1% |
| Plant, machinery and equipment | 23 | €1,117 | €877 | -€240 | -21.5% |
| Furniture and vehicles | 24 | €5,203 | €3,404 | -€1,799 | -34.6% |
| Other tangible fixed assets | 26 | €1,207 | €1,207 | = | 0.0% |
| Current assets | 29/58 | €9,327 | €23,293 | +€13,966 | +149.7% |
| Amounts receivable within one year | 40/41 | €3,917 | €10,344 | +€6,427 | +164.1% |
| Trade receivables | 40 | €3,675 | €9,254 | +€5,578 | +151.8% |
| Other amounts receivable | 41 | €241 | €1,090 | +€849 | +351.9% |
| Cash at bank and in hand | 54/58 | €3,736 | €114 | -€3,622 | -97.0% |
| Deferred charges and accrued income | 490/1 | €1,675 | €12,835 | +€11,161 | +666.4% |
| Total equity and liabilities | 10/49 | €17,237 | €28,973 | +€11,736 | +68.1% |
| Equity | 10/15 | €1,415 | -€32,548 | -€33,963 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €16,966 | €16,966 | = | 0.0% |
| Distributable reserves | 133 | €16,966 | €16,966 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,551 | -€51,514 | -€33,963 | -193.5% |
| Amounts payable | 17/49 | €15,822 | €61,521 | +€45,699 | +288.8% |
| Amounts payable within one year | 42/48 | €15,822 | €61,521 | +€45,699 | +288.8% |
| Trade debts | 44 | €1,174 | €18,561 | +€17,387 | +1481.2% |
| Suppliers | 440/4 | €1,174 | €18,561 | +€17,387 | +1481.2% |
| Taxes, remuneration and social security | 45 | €9,184 | €4,230 | -€4,954 | -53.9% |
| Taxes | 450/3 | €9,184 | €4,230 | -€4,954 | -53.9% |
| Other amounts payable | 47/48 | €5,464 | €38,730 | +€33,266 | +608.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,780 | €2,230 | +€450 | +25.3% |
| Other operating charges | 640/8 | €1,772 | €1,272 | -€500 | -28.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€9,681 | -€27,720 | -€18,039 | -186.3% |
| Operating profit (loss) | 9901 | -€13,233 | -€31,222 | -€17,989 | -135.9% |
| Financial income | 75/76B | €0 | €176 | +€176 | |
| Recurring financial income | 75 | €0 | €176 | +€176 | |
| Financial charges | 65/66B | €4,054 | €2,653 | -€1,401 | -34.6% |
| Recurring financial charges | 65 | €4,054 | €2,653 | -€1,401 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | -€17,287 | -€33,699 | -€16,412 | -94.9% |
| Income taxes | 67/77 | €264 | €264 | +€0 | +0.1% |
| Profit (loss) for the period | 9904 | -€17,551 | -€33,963 | -€16,412 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,551 | -€33,963 | -€16,412 | -93.5% |
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 12 October 2026 via checked.be.