WALK THE TALK: 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.
WALK THE TALK
Largest movements
- Cash -€303,927
down €303,927 (-78.2%), from €388,725 to €84,798
mainly Trade debts (-€534,550) and Debts after one year (-€30,000)
- Current investments -€150,000
down €150,000 (-30.0%), from €500,000 to €350,000
- Receivables after one year -€46,078
down €46,078 (-20.3%), from €226,481 to €180,403
- Trade debts -€534,550
down €534,550 (-66.3%), from €806,388 to €271,838
- Debts after one year -€30,000
down €30,000 (-25.1%), from €119,524 to €89,524
- Profit (loss) carried forward +€28,577
up €28,577 (+4.0%), from €717,004 to €745,581
- Tax, wage and social debts +€25,883
up €25,883 (+32.8%), from €79,025 to €104,908
- Gross operating margin -€325,256
down €325,256 (-83.4%), from €389,908 to €64,652
- Taxes -€52,697
down €52,697 (-65.8%), from €80,095 to €27,398
- Financial charges -€15,582
down €15,582 (-94.5%), from €16,495 to €913
- Depreciation -€12,973
down €12,973 (-42.8%), from €30,284 to €17,310
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.
Derived cash bridge
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 | €1,911,526 | €1,401,069 | -€510,457 | -26.7% |
| Fixed assets | 21/28 | €686,487 | €669,176 | -€17,310 | -2.5% |
| Intangible fixed assets | 21 | €18,401 | €1,091 | -€17,310 | -94.1% |
| Financial fixed assets | 28 | €668,086 | €668,086 | = | 0.0% |
| Current assets | 29/58 | €1,225,040 | €731,893 | -€493,147 | -40.3% |
| Amounts receivable after more than one year | 29 | €226,481 | €180,403 | -€46,078 | -20.3% |
| Other amounts receivable | 291 | €226,481 | €180,403 | -€46,078 | -20.3% |
| Amounts receivable within one year | 40/41 | €108,828 | €116,529 | +€7,701 | +7.1% |
| Trade receivables | 40 | €35,806 | €44,607 | +€8,801 | +24.6% |
| Other amounts receivable | 41 | €73,022 | €71,922 | -€1,100 | -1.5% |
| Current investments | 50/53 | €500,000 | €350,000 | -€150,000 | -30.0% |
| Cash at bank and in hand | 54/58 | €388,725 | €84,798 | -€303,927 | -78.2% |
| Deferred charges and accrued income | 490/1 | €1,005 | €162 | -€843 | -83.9% |
| Total equity and liabilities | 10/49 | €1,911,526 | €1,401,069 | -€510,457 | -26.7% |
| Equity | 10/15 | €906,174 | €934,751 | +€28,577 | +3.2% |
| Contributions | 10/11 | €189,170 | €189,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €717,004 | €745,581 | +€28,577 | +4.0% |
| Amounts payable | 17/49 | €1,005,352 | €466,318 | -€539,034 | -53.6% |
| Amounts payable after more than one year | 17 | €119,524 | €89,524 | -€30,000 | -25.1% |
| Other amounts payable | 178/9 | €119,524 | €89,524 | -€30,000 | -25.1% |
| Amounts payable within one year | 42/48 | €885,527 | €376,746 | -€508,781 | -57.5% |
| Financial debts | 43 | €114 | €0 | -€114 | -100% |
| Credit institutions | 430/8 | €114 | €0 | -€114 | -100% |
| Trade debts | 44 | €806,388 | €271,838 | -€534,550 | -66.3% |
| Suppliers | 440/4 | €806,388 | €271,838 | -€534,550 | -66.3% |
| Taxes, remuneration and social security | 45 | €79,025 | €104,908 | +€25,883 | +32.8% |
| Taxes | 450/3 | €79,025 | €104,908 | +€25,883 | +32.8% |
| Accrued charges and deferred income | 492/3 | €302 | €49 | -€253 | -83.9% |
| Non-recurring operating income | 76A | - | €6,739 | +€6,739 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,284 | €17,310 | -€12,973 | -42.8% |
| Gross operating margin | 9900 | €389,908 | €64,652 | -€325,256 | -83.4% |
| Operating profit (loss) | 9901 | €359,624 | €47,342 | -€312,283 | -86.8% |
| Financial income | 75/76B | €6,086 | €9,546 | +€3,460 | +56.9% |
| Recurring financial income | 75 | €6,086 | €9,546 | +€3,460 | +56.9% |
| Financial charges | 65/66B | €16,495 | €913 | -€15,582 | -94.5% |
| Recurring financial charges | 65 | €16,495 | €913 | -€15,582 | -94.5% |
| Profit (loss) for the period before taxes | 9903 | €349,215 | €55,975 | -€293,240 | -84.0% |
| Income taxes | 67/77 | €80,095 | €27,398 | -€52,697 | -65.8% |
| Profit (loss) for the period | 9904 | €269,119 | €28,577 | -€240,543 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €269,119 | €28,577 | -€240,543 | -89.4% |
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 28 October 2026 via checked.be.