VORTEX architecture: 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.
VORTEX architecture
Largest movements
- Receivables within one year -€15,889
down €15,889 (-90.3%), from €17,599 to €1,711
- Cash +€4,741
up €4,741 (+120.6%), from €3,931 to €8,672
mainly Receivables within one year (+€15,889) and Trade debts (+€3,415)
- Intangible fixed assets -€1,314
down €1,314 (-11.1%), from €11,814 to €10,500
- Tangible fixed assets -€1,296
down €1,296 (-18.4%), from €7,044 to €5,748
- Financial fixed assets +€1,268
new in 2025: €1,268
- Profit (loss) carried forward -€10,712
down €10,712 (-4209.6%), from -€254 to -€10,967
- Debts after one year -€4,551
down €4,551 (-92.1%), from €4,938 to €388
- Trade debts +€3,415
up €3,415 (+75.9%), from €4,499 to €7,914
- Tax, wage and social debts -€519
down €519 (-4.4%), from €11,842 to €11,323
of which Taxes: -€3,363
- Gross operating margin -€15,073
down €15,073, from €14,071 to -€1,003
- Staff costs -€7,543
no longer reported in 2025 (was €7,543)
- Other operating charges +€2,750
up €2,750 (+367.2%), from €749 to €3,498
- Financial charges +€1,894
up €1,894 (+160.7%), from €1,179 to €3,073
- Depreciation -€1,026
down €1,026 (-24.6%), from €4,165 to €3,139
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 | €40,389 | €28,209 | -€12,180 | -30.2% |
| Fixed assets | 21/28 | €18,859 | €17,516 | -€1,343 | -7.1% |
| Intangible fixed assets | 21 | €11,814 | €10,500 | -€1,314 | -11.1% |
| Tangible fixed assets | 22/27 | €7,044 | €5,748 | -€1,296 | -18.4% |
| Plant, machinery and equipment | 23 | €7,044 | €5,748 | -€1,296 | -18.4% |
| Financial fixed assets | 28 | - | €1,268 | +€1,268 | |
| Current assets | 29/58 | €21,530 | €10,694 | -€10,837 | -50.3% |
| Amounts receivable within one year | 40/41 | €17,599 | €1,711 | -€15,889 | -90.3% |
| Trade receivables | 40 | €17,599 | €1,711 | -€15,889 | -90.3% |
| Cash at bank and in hand | 54/58 | €3,931 | €8,672 | +€4,741 | +120.6% |
| Deferred charges and accrued income | 490/1 | - | €311 | +€311 | |
| Total equity and liabilities | 10/49 | €40,389 | €28,209 | -€12,180 | -30.2% |
| Equity | 10/15 | €1,746 | -€8,967 | -€10,712 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254 | -€10,967 | -€10,712 | -4209.6% |
| Amounts payable | 17/49 | €38,643 | €37,176 | -€1,467 | -3.8% |
| Amounts payable after more than one year | 17 | €4,938 | €388 | -€4,551 | -92.1% |
| Financial debts | 170/4 | €4,938 | €388 | -€4,551 | -92.1% |
| Amounts payable within one year | 42/48 | €33,705 | €36,788 | +€3,083 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €4,363 | €4,551 | +€187 | +4.3% |
| Trade debts | 44 | €4,499 | €7,914 | +€3,415 | +75.9% |
| Suppliers | 440/4 | €4,499 | €7,914 | +€3,415 | +75.9% |
| Taxes, remuneration and social security | 45 | €11,842 | €11,323 | -€519 | -4.4% |
| Taxes | 450/3 | €10,472 | €7,109 | -€3,363 | -32.1% |
| Remuneration and social security | 454/9 | €1,371 | €4,215 | +€2,844 | +207.5% |
| Other amounts payable | 47/48 | €13,000 | €13,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €7,543 | - | -€7,543 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,165 | €3,139 | -€1,026 | -24.6% |
| Other operating charges | 640/8 | €749 | €3,498 | +€2,750 | +367.2% |
| Gross operating margin | 9900 | €14,071 | -€1,003 | -€15,073 | |
| Operating profit (loss) | 9901 | €1,614 | -€7,640 | -€9,254 | |
| Financial charges | 65/66B | €1,179 | €3,073 | +€1,894 | +160.7% |
| Recurring financial charges | 65 | €1,179 | €3,073 | +€1,894 | +160.7% |
| Profit (loss) for the period before taxes | 9903 | €435 | -€10,712 | -€11,147 | |
| Income taxes | 67/77 | €690 | - | -€690 | |
| Profit (loss) for the period | 9904 | -€254 | -€10,712 | -€10,458 | -4109.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€254 | -€10,712 | -€10,458 | -4109.6% |
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 30 September 2026 via checked.be.