W2: 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.
W2
Largest movements
- Cash -€33,634
down €33,634 (-100.0%), from €33,634 to €0
mainly Net result for the year (-€35,057) and Receivables within one year (-€18,220)
- Receivables within one year +€18,220
up €18,220 (+570.4%), from €3,194 to €21,415
of which Trade receivables: +€20,358
- Tangible fixed assets -€9,604
down €9,604 (-21.6%), from €44,559 to €34,956
of which Furniture and vehicles: -€9,604
- Profit (loss) carried forward -€35,057
down €35,057 (-27.2%), from -€128,863 to -€163,920
- Other debts +€13,764
up €13,764 (+462.8%), from €2,974 to €16,738
- Trade debts -€6,169
down €6,169 (-43.8%), from €14,076 to €7,908
- Debts after one year -€3,773
down €3,773 (-12.4%), from €30,442 to €26,669
- Short-term financial debts +€3,131
up €3,131, from €0 to €3,131
of which Credit institutions: +€3,131
- Depreciation +€7,665
up €7,665 (+296.5%), from €2,585 to €10,250
- Gross operating margin +€5,940
up €5,940 (+21.9%), from -€27,158 to -€21,218
- Financial income -€2,195
down €2,195 (-98.8%), from €2,222 to €27
- Financial charges +€1,202
up €1,202 (+91.3%), from €1,317 to €2,519
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 | €86,063 | €61,211 | -€24,852 | -28.9% |
| Fixed assets | 21/28 | €48,127 | €37,877 | -€10,250 | -21.3% |
| Intangible fixed assets | 21 | €2,062 | €1,415 | -€646 | -31.4% |
| Tangible fixed assets | 22/27 | €44,559 | €34,956 | -€9,604 | -21.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €44,559 | €34,956 | -€9,604 | -21.6% |
| Financial fixed assets | 28 | €1,506 | €1,506 | = | 0.0% |
| Current assets | 29/58 | €37,936 | €23,333 | -€14,602 | -38.5% |
| Amounts receivable within one year | 40/41 | €3,194 | €21,415 | +€18,220 | +570.4% |
| Trade receivables | 40 | €1,049 | €21,407 | +€20,358 | +1940.5% |
| Other amounts receivable | 41 | €2,145 | €7 | -€2,138 | -99.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €33,634 | €0 | -€33,634 | -100.0% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,919 | +€811 | +73.3% |
| Total equity and liabilities | 10/49 | €86,063 | €61,211 | -€24,852 | -28.9% |
| Equity | 10/15 | €35,496 | €439 | -€35,057 | -98.8% |
| Contributions | 10/11 | €63,592 | €63,592 | = | 0.0% |
| Reserves | 13 | €100,766 | €100,766 | = | 0.0% |
| Distributable reserves | 133 | €100,766 | €100,766 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,863 | -€163,920 | -€35,057 | -27.2% |
| Amounts payable | 17/49 | €50,568 | €60,772 | +€10,205 | +20.2% |
| Amounts payable after more than one year | 17 | €30,442 | €26,669 | -€3,773 | -12.4% |
| Financial debts | 170/4 | €30,442 | €26,669 | -€3,773 | -12.4% |
| Amounts payable within one year | 42/48 | €20,126 | €34,104 | +€13,978 | +69.5% |
| Current portion of amounts payable after more than one year | 42 | €2,689 | €3,773 | +€1,084 | +40.3% |
| Financial debts | 43 | €0 | €3,131 | +€3,131 | |
| Credit institutions | 430/8 | - | €3,131 | +€3,131 | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €14,076 | €7,908 | -€6,169 | -43.8% |
| Suppliers | 440/4 | €14,076 | €7,908 | -€6,169 | -43.8% |
| Taxes, remuneration and social security | 45 | €386 | €2,554 | +€2,168 | +561.2% |
| Taxes | 450/3 | €386 | €2,554 | +€2,168 | +561.2% |
| Other amounts payable | 47/48 | €2,974 | €16,738 | +€13,764 | +462.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,585 | €10,250 | +€7,665 | +296.5% |
| Other operating charges | 640/8 | €1,100 | €955 | -€145 | -13.2% |
| Gross operating margin | 9900 | -€27,158 | -€21,218 | +€5,940 | +21.9% |
| Operating profit (loss) | 9901 | -€30,843 | -€32,424 | -€1,581 | -5.1% |
| Financial income | 75/76B | €2,222 | €27 | -€2,195 | -98.8% |
| Recurring financial income | 75 | €2,222 | €27 | -€2,195 | -98.8% |
| Financial charges | 65/66B | €1,317 | €2,519 | +€1,202 | +91.3% |
| Recurring financial charges | 65 | €1,317 | €2,519 | +€1,202 | +91.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,939 | -€34,916 | -€4,977 | -16.6% |
| Income taxes | 67/77 | €197 | €141 | -€56 | -28.4% |
| Profit (loss) for the period | 9904 | -€30,136 | -€35,057 | -€4,921 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,136 | -€35,057 | -€4,921 | -16.3% |
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 8 October 2026 via checked.be.