WHERE@: 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.
WHERE@
Largest movements
- Deferred charges and accrued income +€28,979
new in 2025: €28,979
- Cash -€12,626
down €12,626 (-99.1%), from €12,741 to €114
mainly Deferred charges and accrued income (-€28,979) and Tax, wage and social debts (-€11,045)
- Tangible fixed assets -€1,668
down €1,668 (-13.1%), from €12,691 to €11,023
of which Land and buildings: -€1,139
- Receivables within one year +€724
new in 2025: €724
- Profit (loss) carried forward +€23,808
up €23,808 (+11.5%), from -€207,495 to -€183,687
- Trade debts +€12,886
up €12,886 (+145.5%), from €8,855 to €21,741
- Tax, wage and social debts -€11,045
down €11,045 (-59.2%), from €18,658 to €7,613
of which Taxes: -€10,295
- Other debts -€10,240
down €10,240 (-38.2%), from €26,814 to €16,573
- Gross operating margin +€55,296
up €55,296, from -€30,336 to €24,959
- Financial charges -€1,882
down €1,882 (-51.1%), from €3,685 to €1,803
- Depreciation +€1,023
up €1,023 (+158.5%), from €645 to €1,668
- Other operating charges -€491
no longer reported in 2025 (was €491)
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 | €25,431 | €40,840 | +€15,409 | +60.6% |
| Fixed assets | 21/28 | €12,691 | €11,023 | -€1,668 | -13.1% |
| Tangible fixed assets | 22/27 | €12,691 | €11,023 | -€1,668 | -13.1% |
| Land and buildings | 22 | €11,259 | €10,119 | -€1,139 | -10.1% |
| Furniture and vehicles | 24 | €1,432 | €904 | -€528 | -36.9% |
| Current assets | 29/58 | €12,741 | €29,818 | +€17,077 | +134.0% |
| Amounts receivable within one year | 40/41 | - | €724 | +€724 | |
| Trade receivables | 40 | - | €724 | +€724 | |
| Cash at bank and in hand | 54/58 | €12,741 | €114 | -€12,626 | -99.1% |
| Deferred charges and accrued income | 490/1 | - | €28,979 | +€28,979 | |
| Total equity and liabilities | 10/49 | €25,431 | €40,840 | +€15,409 | +60.6% |
| Equity | 10/15 | -€188,895 | -€165,087 | +€23,808 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€207,495 | -€183,687 | +€23,808 | +11.5% |
| Amounts payable | 17/49 | €214,326 | €205,927 | -€8,398 | -3.9% |
| Amounts payable after more than one year | 17 | €160,000 | €160,000 | = | 0.0% |
| Financial debts | 170/4 | €160,000 | €160,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €54,326 | €45,927 | -€8,398 | -15.5% |
| Trade debts | 44 | €8,855 | €21,741 | +€12,886 | +145.5% |
| Suppliers | 440/4 | €8,855 | €21,741 | +€12,886 | +145.5% |
| Taxes, remuneration and social security | 45 | €18,658 | €7,613 | -€11,045 | -59.2% |
| Taxes | 450/3 | €17,908 | €7,613 | -€10,295 | -57.5% |
| Remuneration and social security | 454/9 | €750 | - | -€750 | |
| Other amounts payable | 47/48 | €26,814 | €16,573 | -€10,240 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €645 | €1,668 | +€1,023 | +158.5% |
| Other operating charges | 640/8 | €491 | - | -€491 | |
| Gross operating margin | 9900 | -€30,336 | €24,959 | +€55,296 | |
| Operating profit (loss) | 9901 | -€31,473 | €23,292 | +€54,765 | |
| Financial income | 75/76B | €2,402 | €2,460 | +€58 | +2.4% |
| Recurring financial income | 75 | €2,402 | €2,460 | +€58 | +2.4% |
| Financial charges | 65/66B | €3,685 | €1,803 | -€1,882 | -51.1% |
| Recurring financial charges | 65 | €3,685 | €1,803 | -€1,882 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | -€32,756 | €23,949 | +€56,705 | |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€32,896 | €23,808 | +€56,703 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,896 | €23,808 | +€56,703 |
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.