YELLOW STRIPES: 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.
YELLOW STRIPES
Largest movements
- Financial fixed assets +€75,275
new in 2025: €75,275
- Receivables within one year +€73,833
up €73,833 (+68.7%), from €107,447 to €181,279
of which Trade receivables: +€83,511
- Cash -€53,944
down €53,944 (-71.1%), from €75,833 to €21,889
mainly Investment in fixed assets (net) (-€97,129) and Receivables within one year (-€73,833)
- Intangible fixed assets +€9,921
new in 2025: €9,921
- Trade debts +€61,408
up €61,408 (+107%), from €57,405 to €118,813
- Other debts +€57,306
new in 2025: €57,306
- Profit (loss) carried forward -€49,665
down €49,665, from €0 to -€49,665
- Debts after one year +€44,763
up €44,763 (+87.0%), from €51,450 to €96,214
- Reserves -€15,103
down €15,103 (-89.0%), from €16,963 to €1,860
of which Distributable reserves: -€15,103
- Gross operating margin -€92,432
down €92,432 (-52.5%), from €176,214 to €83,782
- Staff costs -€34,446
down €34,446 (-20.6%), from €166,913 to €132,467
- Financial income +€6,477
up €6,477 (+4,138%), from €157 to €6,634
of which Non-recurring financial income: +€5,658
- Other operating charges +€4,893
up €4,893 (+618%), from €792 to €5,686
- Financial charges +€4,148
up €4,148 (+188%), from €2,208 to €6,356
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 | €202,694 | €309,449 | +€106,755 | +52.7% |
| Fixed assets | 21/28 | €16,501 | €103,813 | +€87,311 | +529% |
| Intangible fixed assets | 21 | - | €9,921 | +€9,921 | |
| Tangible fixed assets | 22/27 | €16,501 | €18,617 | +€2,116 | +12.8% |
| Plant, machinery and equipment | 23 | €3,769 | €1,517 | -€2,253 | -59.8% |
| Furniture and vehicles | 24 | €12,732 | €17,100 | +€4,369 | +34.3% |
| Financial fixed assets | 28 | - | €75,275 | +€75,275 | |
| Current assets | 29/58 | €186,193 | €205,636 | +€19,443 | +10.4% |
| Amounts receivable within one year | 40/41 | €107,447 | €181,279 | +€73,833 | +68.7% |
| Trade receivables | 40 | €83,094 | €166,604 | +€83,511 | +101% |
| Other amounts receivable | 41 | €24,353 | €14,675 | -€9,678 | -39.7% |
| Cash at bank and in hand | 54/58 | €75,833 | €21,889 | -€53,944 | -71.1% |
| Deferred charges and accrued income | 490/1 | €2,912 | €2,467 | -€445 | -15.3% |
| Total equity and liabilities | 10/49 | €202,694 | €309,449 | +€106,755 | +52.7% |
| Equity | 10/15 | €35,563 | -€29,205 | -€64,767 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,963 | €1,860 | -€15,103 | -89.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,103 | - | -€15,103 | |
| Profit (loss) carried forward | 14 | €0 | -€49,665 | -€49,665 | |
| Amounts payable | 17/49 | €167,131 | €338,654 | +€171,522 | +103% |
| Amounts payable after more than one year | 17 | €51,450 | €96,214 | +€44,763 | +87.0% |
| Financial debts | 170/4 | €51,450 | €96,214 | +€44,763 | +87.0% |
| Amounts payable within one year | 42/48 | €115,681 | €242,440 | +€126,759 | +110% |
| Current portion of amounts payable after more than one year | 42 | €32,702 | €41,237 | +€8,535 | +26.1% |
| Trade debts | 44 | €57,405 | €118,813 | +€61,408 | +107% |
| Suppliers | 440/4 | €57,405 | €118,813 | +€61,408 | +107% |
| Taxes, remuneration and social security | 45 | €25,575 | €25,084 | -€490 | -1.9% |
| Taxes | 450/3 | €19,010 | €9,826 | -€9,184 | -48.3% |
| Remuneration and social security | 454/9 | €6,565 | €15,258 | +€8,693 | +132% |
| Other amounts payable | 47/48 | - | €57,306 | +€57,306 | |
| Remuneration, social security and pensions | 62 | €166,913 | €132,467 | -€34,446 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,547 | €9,818 | +€1,271 | +14.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€379 | €560 | +€939 | |
| Other operating charges | 640/8 | €792 | €5,686 | +€4,893 | +618% |
| Gross operating margin | 9900 | €176,214 | €83,782 | -€92,432 | -52.5% |
| Operating profit (loss) | 9901 | €341 | -€64,749 | -€65,089 | |
| Financial income | 75/76B | €157 | €6,634 | +€6,477 | +4,138% |
| Recurring financial income | 75 | €157 | €976 | +€819 | +523% |
| Non-recurring financial income | 76B | - | €5,658 | +€5,658 | |
| Financial charges | 65/66B | €2,208 | €6,356 | +€4,148 | +188% |
| Recurring financial charges | 65 | €2,208 | €6,356 | +€4,148 | +188% |
| Profit (loss) for the period before taxes | 9903 | -€1,710 | -€64,471 | -€62,760 | -3,669% |
| Income taxes | 67/77 | €1,565 | €297 | -€1,268 | -81.0% |
| Profit (loss) for the period | 9904 | -€3,275 | -€64,767 | -€61,492 | -1,878% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,275 | -€64,767 | -€61,492 | -1,878% |
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 23 October 2026 via checked.be.