Ward E: 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.
Ward E
Largest movements
- Tangible fixed assets -€22,171
down €22,171 (-35.7%), from €62,042 to €39,871
- Deferred charges and accrued income -€11,170
no longer reported in 2025 (was €11,170)
- Financial fixed assets -€9,250
no longer reported in 2025 (was €9,250)
- Cash +€991
up €991 (+110.4%), from €897 to €1,888
mainly Depreciation (+€22,171) and Other debts (+€18,079)
- Debts after one year -€39,607
down €39,607 (-74.6%), from €53,080 to €13,473
- Other debts +€18,079
up €18,079 (+1253.4%), from €1,442 to €19,521
- Current portion of long-term debt -€9,119
down €9,119 (-63.2%), from €14,420 to €5,301
- Trade debts -€8,563
down €8,563 (-73.2%), from €11,695 to €3,132
- Tax, wage and social debts -€2,103
down €2,103 (-40.1%), from €5,243 to €3,140
of which Remuneration and social security: -€4,190
- Other operating charges -€2,363
down €2,363 (-96.8%), from €2,440 to €77
- Financial charges +€1,610
up €1,610 (+203.5%), from €791 to €2,401
- Gross operating margin +€736
up €736 (+3.0%), from €24,601 to €25,337
- Depreciation -€304
down €304 (-1.4%), from €22,475 to €22,171
- Staff costs +€277
up €277 (+225.7%), from €123 to €400
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 | €87,886 | €46,942 | -€40,944 | -46.6% |
| Fixed assets | 21/28 | €71,292 | €39,871 | -€31,421 | -44.1% |
| Tangible fixed assets | 22/27 | €62,042 | €39,871 | -€22,171 | -35.7% |
| Furniture and vehicles | 24 | €62,042 | €39,871 | -€22,171 | -35.7% |
| Financial fixed assets | 28 | €9,250 | - | -€9,250 | |
| Current assets | 29/58 | €16,594 | €7,071 | -€9,523 | -57.4% |
| Amounts receivable within one year | 40/41 | €4,527 | €5,182 | +€656 | +14.5% |
| Trade receivables | 40 | €4,432 | €5,182 | +€750 | +16.9% |
| Other amounts receivable | 41 | €95 | - | -€95 | |
| Cash at bank and in hand | 54/58 | €897 | €1,888 | +€991 | +110.4% |
| Deferred charges and accrued income | 490/1 | €11,170 | - | -€11,170 | |
| Total equity and liabilities | 10/49 | €87,886 | €46,942 | -€40,944 | -46.6% |
| Equity | 10/15 | €2,006 | €2,374 | +€369 | +18.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,594 | -€16,226 | +€369 | +2.2% |
| Amounts payable | 17/49 | €85,881 | €44,568 | -€41,313 | -48.1% |
| Amounts payable after more than one year | 17 | €53,080 | €13,473 | -€39,607 | -74.6% |
| Financial debts | 170/4 | €53,080 | €13,473 | -€39,607 | -74.6% |
| Amounts payable within one year | 42/48 | €32,801 | €31,095 | -€1,706 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €14,420 | €5,301 | -€9,119 | -63.2% |
| Financial debts | 43 | €1 | €1 | = | 0.0% |
| Credit institutions | 430/8 | €1 | €1 | = | 0.0% |
| Trade debts | 44 | €11,695 | €3,132 | -€8,563 | -73.2% |
| Suppliers | 440/4 | €11,695 | €3,132 | -€8,563 | -73.2% |
| Taxes, remuneration and social security | 45 | €5,243 | €3,140 | -€2,103 | -40.1% |
| Taxes | 450/3 | €1,053 | €3,140 | +€2,087 | +198.2% |
| Remuneration and social security | 454/9 | €4,190 | - | -€4,190 | |
| Other amounts payable | 47/48 | €1,442 | €19,521 | +€18,079 | +1253.4% |
| Non-recurring operating income | 76A | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €123 | €400 | +€277 | +225.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,475 | €22,171 | -€304 | -1.4% |
| Other operating charges | 640/8 | €2,440 | €77 | -€2,363 | -96.8% |
| Gross operating margin | 9900 | €24,601 | €25,337 | +€736 | +3.0% |
| Operating profit (loss) | 9901 | -€436 | €2,690 | +€3,126 | |
| Financial income | 75/76B | €2 | €81 | +€79 | +4098.4% |
| Recurring financial income | 75 | €2 | €81 | +€79 | +4098.4% |
| Financial charges | 65/66B | €791 | €2,401 | +€1,610 | +203.5% |
| Recurring financial charges | 65 | €791 | €2,401 | +€1,610 | +203.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,226 | €369 | +€1,594 | |
| Profit (loss) for the period | 9904 | -€1,226 | €369 | +€1,594 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,226 | €369 | +€1,594 |
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 29 September 2026 via checked.be.