W: 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.
W
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Cash +€1.0m
up €1.0m (+2483.8%), from €40,505 to €1.0m
mainly Current investments (+€1.0m) and Depreciation (+€6,946)
- Tax, wage and social debts -€15,140
down €15,140 (-83.3%), from €18,170 to €3,030
- Financial income -€14,205
down €14,205 (-52.0%), from €27,315 to €13,111
- Gross operating margin +€5,545
up €5,545 (+48.0%), from -€11,548 to -€6,003
- Taxes -€2,398
down €2,398 (-80.3%), from €2,987 to €589
- Depreciation -€1,616
down €1,616 (-18.9%), from €8,562 to €6,946
- Other operating charges -€166
down €166 (-8.9%), from €1,863 to €1,697
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 | €1,102,480 | €1,069,714 | -€32,766 | -3.0% |
| Fixed assets | 21/28 | €13,735 | €10,178 | -€3,558 | -25.9% |
| Tangible fixed assets | 22/27 | €13,735 | €10,178 | -€3,558 | -25.9% |
| Plant, machinery and equipment | 23 | €429 | - | -€429 | |
| Furniture and vehicles | 24 | €13,306 | €10,178 | -€3,129 | -23.5% |
| Current assets | 29/58 | €1,088,745 | €1,059,537 | -€29,208 | -2.7% |
| Amounts receivable within one year | 40/41 | €1,703 | €12,658 | +€10,955 | +643.3% |
| Other amounts receivable | 41 | €1,703 | €12,658 | +€10,955 | +643.3% |
| Current investments | 50/53 | €1,046,028 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €40,505 | €1,046,587 | +€1.0m | +2483.8% |
| Deferred charges and accrued income | 490/1 | €509 | €291 | -€217 | -42.7% |
| Total equity and liabilities | 10/49 | €1,102,480 | €1,069,714 | -€32,766 | -3.0% |
| Equity | 10/15 | €1,068,845 | €1,066,538 | -€2,308 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €164,705 | €164,705 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €162,845 | €162,845 | = | 0.0% |
| Profit (loss) carried forward | 14 | €885,540 | €883,232 | -€2,308 | -0.3% |
| Amounts payable | 17/49 | €33,635 | €3,177 | -€30,458 | -90.6% |
| Amounts payable within one year | 42/48 | €33,635 | €3,177 | -€30,458 | -90.6% |
| Trade debts | 44 | €5,143 | €144 | -€5,000 | -97.2% |
| Suppliers | 440/4 | €5,143 | €144 | -€5,000 | -97.2% |
| Taxes, remuneration and social security | 45 | €18,170 | €3,030 | -€15,140 | -83.3% |
| Taxes | 450/3 | €18,170 | €3,030 | -€15,140 | -83.3% |
| Other amounts payable | 47/48 | €10,321 | €3 | -€10,318 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,562 | €6,946 | -€1,616 | -18.9% |
| Other operating charges | 640/8 | €1,863 | €1,697 | -€166 | -8.9% |
| Gross operating margin | 9900 | -€11,548 | -€6,003 | +€5,545 | +48.0% |
| Operating profit (loss) | 9901 | -€21,973 | -€14,646 | +€7,327 | +33.3% |
| Financial income | 75/76B | €27,315 | €13,111 | -€14,205 | -52.0% |
| Recurring financial income | 75 | €27,315 | €13,111 | -€14,205 | -52.0% |
| Financial charges | 65/66B | €136 | €183 | +€47 | +34.2% |
| Recurring financial charges | 65 | €136 | €183 | +€47 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | €5,206 | -€1,719 | -€6,925 | |
| Income taxes | 67/77 | €2,987 | €589 | -€2,398 | -80.3% |
| Profit (loss) for the period | 9904 | €2,219 | -€2,308 | -€4,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,219 | -€2,308 | -€4,526 |
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.