VIEWPOINT: 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.
VIEWPOINT
Largest movements
- Tangible fixed assets -€12,750
down €12,750 (-42.6%), from €29,900 to €17,150
- Receivables within one year +€10,588
up €10,588 (+24.0%), from €44,119 to €54,707
of which Trade receivables: +€10,588
- Intangible fixed assets -€9,536
down €9,536 (-41.9%), from €22,748 to €13,211
- Cash -€8,160
down €8,160 (-21.1%), from €38,703 to €30,543
mainly Debts after one year (-€20,000) and Receivables within one year (-€10,588)
- Debts after one year -€20,000
down €20,000 (-66.7%), from €30,000 to €10,000
- Reserves +€8,276
new in 2025: €8,276
- Trade debts -€4,736
down €4,736 (-17.9%), from €26,417 to €21,681
- Tax, wage and social debts -€2,055
down €2,055 (-27.3%), from €7,533 to €5,478
- Gross operating margin -€14,442
down €14,442 (-29.4%), from €49,158 to €34,715
- Taxes +€1,289
new in 2025: €1,289
- Depreciation -€992
down €992 (-4.3%), from €23,278 to €22,287
- Financial charges -€782
down €782 (-24.1%), from €3,242 to €2,461
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 | €136,003 | €117,488 | -€18,515 | -13.6% |
| Fixed assets | 21/28 | €52,648 | €30,361 | -€22,287 | -42.3% |
| Intangible fixed assets | 21 | €22,748 | €13,211 | -€9,536 | -41.9% |
| Tangible fixed assets | 22/27 | €29,900 | €17,150 | -€12,750 | -42.6% |
| Plant, machinery and equipment | 23 | €29,900 | €17,150 | -€12,750 | -42.6% |
| Current assets | 29/58 | €83,355 | €87,127 | +€3,772 | +4.5% |
| Amounts receivable within one year | 40/41 | €44,119 | €54,707 | +€10,588 | +24.0% |
| Trade receivables | 40 | €43,041 | €53,629 | +€10,588 | +24.6% |
| Other amounts receivable | 41 | €1,078 | €1,078 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,703 | €30,543 | -€8,160 | -21.1% |
| Deferred charges and accrued income | 490/1 | €534 | €1,877 | +€1,344 | +251.8% |
| Total equity and liabilities | 10/49 | €136,003 | €117,488 | -€18,515 | -13.6% |
| Equity | 10/15 | €52,053 | €60,330 | +€8,276 | +15.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | - | €8,276 | +€8,276 | |
| Distributable reserves | 133 | - | €8,276 | +€8,276 | |
| Profit (loss) carried forward | 14 | €2,053 | €2,053 | = | 0.0% |
| Amounts payable | 17/49 | €83,949 | €57,158 | -€26,791 | -31.9% |
| Amounts payable after more than one year | 17 | €30,000 | €10,000 | -€20,000 | -66.7% |
| Financial debts | 170/4 | €30,000 | €10,000 | -€20,000 | -66.7% |
| Amounts payable within one year | 42/48 | €53,950 | €47,158 | -€6,791 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €26,417 | €21,681 | -€4,736 | -17.9% |
| Suppliers | 440/4 | €26,417 | €21,681 | -€4,736 | -17.9% |
| Taxes, remuneration and social security | 45 | €7,533 | €5,478 | -€2,055 | -27.3% |
| Taxes | 450/3 | €7,533 | €5,478 | -€2,055 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,278 | €22,287 | -€992 | -4.3% |
| Other operating charges | 640/8 | €522 | €402 | -€120 | -23.0% |
| Gross operating margin | 9900 | €49,158 | €34,715 | -€14,442 | -29.4% |
| Operating profit (loss) | 9901 | €25,357 | €12,027 | -€13,330 | -52.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,242 | €2,461 | -€782 | -24.1% |
| Recurring financial charges | 65 | €3,242 | €2,461 | -€782 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €22,115 | €9,566 | -€12,549 | -56.7% |
| Income taxes | 67/77 | - | €1,289 | +€1,289 | |
| Profit (loss) for the period | 9904 | €22,115 | €8,276 | -€13,838 | -62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,115 | €8,276 | -€13,838 | -62.6% |
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 10 October 2026 via checked.be.