We Manage: 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.
We Manage
Largest movements
- Cash -€42,238
down €42,238 (-54.9%), from €76,883 to €34,644
mainly Contributions, distributions and other (-€56,000) and Other debts (-€36,955)
- Tangible fixed assets -€37,536
down €37,536 (-28.5%), from €131,747 to €94,211
of which Furniture and vehicles: -€34,461
- Deferred charges and accrued income +€2,302
up €2,302 (+150.9%), from €1,525 to €3,827
- Other debts -€36,955
down €36,955 (-39.8%), from €92,955 to €56,000
- Debts after one year -€17,504
down €17,504 (-38.1%), from €45,917 to €28,413
- Current portion of long-term debt -€14,784
down €14,784 (-42.2%), from €35,012 to €20,227
- Profit (loss) carried forward -€11,156
down €11,156 (-96.7%), from €11,540 to €384
- Gross operating margin -€4,395
down €4,395 (-4.1%), from €106,130 to €101,735
- Depreciation +€3,325
up €3,325 (+9.4%), from €35,234 to €38,559
- Other operating charges -€1,567
down €1,567 (-49.2%), from €3,186 to €1,619
- Financial charges -€1,499
down €1,499 (-34.9%), from €4,289 to €2,790
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 | €228,522 | €148,827 | -€79,695 | -34.9% |
| Fixed assets | 21/28 | €131,747 | €94,211 | -€37,536 | -28.5% |
| Tangible fixed assets | 22/27 | €131,747 | €94,211 | -€37,536 | -28.5% |
| Plant, machinery and equipment | 23 | €3,555 | €3,688 | +€133 | +3.7% |
| Furniture and vehicles | 24 | €104,431 | €69,970 | -€34,461 | -33.0% |
| Other tangible fixed assets | 26 | €23,761 | €20,554 | -€3,207 | -13.5% |
| Current assets | 29/58 | €96,776 | €54,616 | -€42,160 | -43.6% |
| Amounts receivable within one year | 40/41 | €18,368 | €16,145 | -€2,223 | -12.1% |
| Trade receivables | 40 | €17,830 | €14,555 | -€3,275 | -18.4% |
| Other amounts receivable | 41 | €538 | €1,590 | +€1,052 | +195.5% |
| Cash at bank and in hand | 54/58 | €76,883 | €34,644 | -€42,238 | -54.9% |
| Deferred charges and accrued income | 490/1 | €1,525 | €3,827 | +€2,302 | +150.9% |
| Total equity and liabilities | 10/49 | €228,522 | €148,827 | -€79,695 | -34.9% |
| Equity | 10/15 | €32,000 | €20,844 | -€11,156 | -34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,540 | €384 | -€11,156 | -96.7% |
| Amounts payable | 17/49 | €196,522 | €127,983 | -€68,539 | -34.9% |
| Amounts payable after more than one year | 17 | €45,917 | €28,413 | -€17,504 | -38.1% |
| Financial debts | 170/4 | €45,917 | €28,413 | -€17,504 | -38.1% |
| Amounts payable within one year | 42/48 | €149,096 | €96,977 | -€52,118 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €35,012 | €20,227 | -€14,784 | -42.2% |
| Trade debts | 44 | €3,275 | €2,178 | -€1,098 | -33.5% |
| Suppliers | 440/4 | €3,275 | €2,178 | -€1,098 | -33.5% |
| Taxes, remuneration and social security | 45 | €17,854 | €18,573 | +€719 | +4.0% |
| Taxes | 450/3 | €17,854 | €18,573 | +€719 | +4.0% |
| Other amounts payable | 47/48 | €92,955 | €56,000 | -€36,955 | -39.8% |
| Accrued charges and deferred income | 492/3 | €1,509 | €2,592 | +€1,083 | +71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,234 | €38,559 | +€3,325 | +9.4% |
| Other operating charges | 640/8 | €3,186 | €1,619 | -€1,567 | -49.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €106,130 | €101,735 | -€4,395 | -4.1% |
| Operating profit (loss) | 9901 | €67,710 | €61,557 | -€6,153 | -9.1% |
| Financial income | 75/76B | €115 | €175 | +€59 | +51.4% |
| Recurring financial income | 75 | €115 | €175 | +€59 | +51.4% |
| Financial charges | 65/66B | €4,289 | €2,790 | -€1,499 | -34.9% |
| Recurring financial charges | 65 | €4,289 | €2,790 | -€1,499 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €63,536 | €58,941 | -€4,595 | -7.2% |
| Income taxes | 67/77 | €14,329 | €14,097 | -€232 | -1.6% |
| Profit (loss) for the period | 9904 | €49,207 | €44,844 | -€4,363 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €49,207 | €44,844 | -€4,363 | -8.9% |
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 10 October 2026 via checked.be.