WHATT: 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.
WHATT
Largest movements
- Cash -€297,249
down €297,249 (-99.7%), from €298,219 to €970
mainly Debts after one year (-€339,565) and Other debts (-€185,855)
- Tangible fixed assets -€76,828
no longer reported in 2025 (was €76,828)
of which Furniture and vehicles: -€74,620
- Receivables within one year -€17,046
down €17,046 (-33.1%), from €51,547 to €34,500
of which Other amounts receivable: -€22,479
- Financial fixed assets -€13,275
down €13,275 (-1.6%), from €806,375 to €793,100
- Debts after one year -€339,565
no longer reported in 2025 (was €339,565)
- Profit (loss) carried forward +€229,649
up €229,649 (+39.2%), from €586,387 to €816,036
- Other debts -€185,855
no longer reported in 2025 (was €185,855)
- Current portion of long-term debt -€81,885
no longer reported in 2025 (was €81,885)
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Financial income +€247,134
up €247,134 (+8621.5%), from €2,866 to €250,000
- Gross operating margin -€61,275
down €61,275 (-29.1%), from €210,583 to €149,308
- Depreciation -€28,747
no longer reported in 2025 (was €28,747)
- Financial charges +€14,808
up €14,808 (+95.0%), from €15,588 to €30,396
- Staff costs -€8,752
down €8,752, from €8,471 to -€281
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 | €1,241,309 | €828,570 | -€412,739 | -33.3% |
| Fixed assets | 21/28 | €883,203 | €793,100 | -€90,103 | -10.2% |
| Tangible fixed assets | 22/27 | €76,828 | - | -€76,828 | |
| Plant, machinery and equipment | 23 | €2,208 | - | -€2,208 | |
| Furniture and vehicles | 24 | €74,620 | - | -€74,620 | |
| Financial fixed assets | 28 | €806,375 | €793,100 | -€13,275 | -1.6% |
| Current assets | 29/58 | €358,105 | €35,470 | -€322,635 | -90.1% |
| Amounts receivable within one year | 40/41 | €51,547 | €34,500 | -€17,046 | -33.1% |
| Trade receivables | 40 | €29,063 | €34,495 | +€5,432 | +18.7% |
| Other amounts receivable | 41 | €22,483 | €5 | -€22,479 | -100.0% |
| Cash at bank and in hand | 54/58 | €298,219 | €970 | -€297,249 | -99.7% |
| Deferred charges and accrued income | 490/1 | €8,340 | - | -€8,340 | |
| Total equity and liabilities | 10/49 | €1,241,309 | €828,570 | -€412,739 | -33.3% |
| Equity | 10/15 | €606,847 | €817,896 | +€211,049 | +34.8% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €586,387 | €816,036 | +€229,649 | +39.2% |
| Amounts payable | 17/49 | €634,462 | €10,674 | -€623,788 | -98.3% |
| Amounts payable after more than one year | 17 | €339,565 | - | -€339,565 | |
| Financial debts | 170/4 | €339,565 | - | -€339,565 | |
| Amounts payable within one year | 42/48 | €289,822 | €10,674 | -€279,147 | -96.3% |
| Current portion of amounts payable after more than one year | 42 | €81,885 | - | -€81,885 | |
| Financial debts | 43 | €15 | - | -€15 | |
| Credit institutions | 430/8 | €15 | - | -€15 | |
| Trade debts | 44 | €2,709 | €1,860 | -€849 | -31.3% |
| Suppliers | 440/4 | €2,709 | €1,860 | -€849 | -31.3% |
| Taxes, remuneration and social security | 45 | €19,357 | €8,814 | -€10,543 | -54.5% |
| Taxes | 450/3 | €16,930 | €8,814 | -€8,115 | -47.9% |
| Remuneration and social security | 454/9 | €2,427 | - | -€2,427 | |
| Other amounts payable | 47/48 | €185,855 | - | -€185,855 | |
| Accrued charges and deferred income | 492/3 | €5,075 | - | -€5,075 | |
| Remuneration, social security and pensions | 62 | €8,471 | -€281 | -€8,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,747 | - | -€28,747 | |
| Other operating charges | 640/8 | €1,548 | €6,118 | +€4,570 | +295.3% |
| Gross operating margin | 9900 | €210,583 | €149,308 | -€61,275 | -29.1% |
| Operating profit (loss) | 9901 | €171,818 | €143,471 | -€28,347 | -16.5% |
| Financial income | 75/76B | €2,866 | €250,000 | +€247,134 | +8621.5% |
| Recurring financial income | 75 | €2,866 | €250,000 | +€247,134 | +8621.5% |
| Financial charges | 65/66B | €15,588 | €30,396 | +€14,808 | +95.0% |
| Recurring financial charges | 65 | €15,588 | €30,396 | +€14,808 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €159,096 | €363,075 | +€203,979 | +128.2% |
| Income taxes | 67/77 | €36,299 | €29,526 | -€6,773 | -18.7% |
| Profit (loss) for the period | 9904 | €122,797 | €333,549 | +€210,752 | +171.6% |
| Profit (loss) for the period to be appropriated | 9905 | €122,797 | €333,549 | +€210,752 | +171.6% |
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 4 October 2026 via checked.be.