ZONE ROUGE: 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.
ZONE ROUGE
Largest movements
- Receivables within one year -€14,773
down €14,773 (-99.7%), from €14,813 to €40
of which Trade receivables: -€14,795
- Stocks and contracts -€3,510
down €3,510 (-100%), from €3,510 to €0
- Reserves -€249,961
down €249,961 (-99.3%), from €251,820 to €1,859
of which Distributable reserves: -€249,961
- Profit (loss) carried forward +€230,634
up €230,634, from -€213,874 to €16,759
- Other debts +€3,331
up €3,331 (+81.4%), from €4,092 to €7,424
- Short-term financial debts -€2,178
down €2,178 (-95.4%), from €2,283 to €106
- Other operating charges +€89,861
up €89,861 (+25,859%), from €348 to €90,208
- Write-downs -€75,233
new in 2025: -€75,233
- Gross operating margin -€485
no longer reported in 2025 (was €485)
- Financial charges -€73
down €73 (-14.3%), from €508 to €436
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,081 | €44,740 | -€18,340 | -29.1% |
| Fixed assets | 21/28 | €14,136 | €14,136 | = | 0.0% |
| Tangible fixed assets | 22/27 | €14,136 | €14,136 | = | 0.0% |
| Land and buildings | 22 | €14,136 | €14,136 | = | 0.0% |
| Current assets | 29/58 | €48,945 | €30,604 | -€18,340 | -37.5% |
| Stocks and contracts in progress | 3 | €3,510 | €0 | -€3,510 | -100% |
| Stocks | 30/36 | €3,510 | €0 | -€3,510 | -100% |
| Amounts receivable within one year | 40/41 | €14,813 | €40 | -€14,773 | -99.7% |
| Trade receivables | 40 | €14,795 | €0 | -€14,795 | -100% |
| Other amounts receivable | 41 | €18 | €40 | +€22 | +121% |
| Cash at bank and in hand | 54/58 | €58 | €0 | -€58 | -100% |
| Deferred charges and accrued income | 490/1 | €30,564 | €30,564 | = | 0.0% |
| Total equity and liabilities | 10/49 | €63,081 | €44,740 | -€18,340 | -29.1% |
| Equity | 10/15 | €56,538 | €37,211 | -€19,327 | -34.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €251,820 | €1,859 | -€249,961 | -99.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €249,961 | €0 | -€249,961 | -100% |
| Profit (loss) carried forward | 14 | -€213,874 | €16,759 | +€230,634 | |
| Amounts payable | 17/49 | €6,543 | €7,530 | +€987 | +15.1% |
| Amounts payable within one year | 42/48 | €6,543 | €7,530 | +€987 | +15.1% |
| Financial debts | 43 | €2,283 | €106 | -€2,178 | -95.4% |
| Credit institutions | 430/8 | €2,283 | €106 | -€2,178 | -95.4% |
| Trade debts | 44 | €167 | €0 | -€167 | -100% |
| Suppliers | 440/4 | €167 | €0 | -€167 | -100% |
| Taxes, remuneration and social security | 45 | - | €0 | = | |
| Taxes | 450/3 | - | €0 | = | |
| Other amounts payable | 47/48 | €4,092 | €7,424 | +€3,331 | +81.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€75,233 | -€75,233 | |
| Other operating charges | 640/8 | €348 | €90,208 | +€89,861 | +25,859% |
| Gross operating margin | 9900 | €485 | - | -€485 | |
| Operating profit (loss) | 9901 | €137 | -€14,975 | -€15,113 | |
| Financial income | 75/76B | - | €0 | = | |
| Recurring financial income | 75 | - | €0 | = | |
| Financial charges | 65/66B | €508 | €436 | -€73 | -14.3% |
| Recurring financial charges | 65 | €508 | €436 | -€73 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€371 | -€15,411 | -€15,040 | -4,052% |
| Profit (loss) for the period | 9904 | -€371 | -€15,411 | -€15,040 | -4,052% |
| Profit (loss) for the period to be appropriated | 9905 | -€371 | -€15,411 | -€15,040 | -4,052% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.