ITEM: what changed
ITEM
Largest movements
- Receivables within one year -€30,779
down €30,779 (-90.2%), from €34,114 to €3,335
of which Trade receivables: -€34,114
- Cash +€28,794
up €28,794 (+126%), from €22,846 to €51,639
mainly Receivables within one year (+€30,779) and Net result for the year (+€15,356)
- Tangible fixed assets -€15,120
down €15,120 (-15.6%), from €96,813 to €81,693
of which Furniture and vehicles: -€10,665
- Trade debts -€26,165
down €26,165 (-91.8%), from €28,506 to €2,341
- Profit (loss) carried forward +€15,356
up €15,356 (+158%), from €9,696 to €25,052
- Accrued charges and deferred income -€13,200
no longer reported in 2025 (was €13,200)
- Tax, wage and social debts +€4,630
new in 2025: €4,630
- Other debts +€2,971
up €2,971 (+3.7%), from €81,257 to €84,228
- Gross operating margin -€14,986
down €14,986 (-27.3%), from €54,822 to €39,836
- Depreciation +€8,164
up €8,164 (+117%), from €6,956 to €15,120
- Taxes +€4,630
new in 2025: €4,630
- Other operating charges +€2,900
up €2,900 (+209%), from €1,388 to €4,289
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €155,193 | €138,785 | -€16,408 | -10.6% |
| Fixed assets | 21/28 | €96,813 | €81,693 | -€15,120 | -15.6% |
| Tangible fixed assets | 22/27 | €96,813 | €81,693 | -€15,120 | -15.6% |
| Land and buildings | 22 | €46,407 | €42,675 | -€3,732 | -8.0% |
| Plant, machinery and equipment | 23 | €2,924 | €2,201 | -€723 | -24.7% |
| Furniture and vehicles | 24 | €47,482 | €36,817 | -€10,665 | -22.5% |
| Current assets | 29/58 | €58,380 | €57,092 | -€1,288 | -2.2% |
| Amounts receivable within one year | 40/41 | €34,114 | €3,335 | -€30,779 | -90.2% |
| Trade receivables | 40 | €34,114 | - | -€34,114 | |
| Other amounts receivable | 41 | - | €3,335 | +€3,335 | |
| Cash at bank and in hand | 54/58 | €22,846 | €51,639 | +€28,794 | +126% |
| Deferred charges and accrued income | 490/1 | €1,420 | €2,117 | +€697 | +49.1% |
| Total equity and liabilities | 10/49 | €155,193 | €138,785 | -€16,408 | -10.6% |
| Equity | 10/15 | €32,230 | €47,587 | +€15,356 | +47.6% |
| Contributions | 10/11 | €20,675 | €20,675 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,696 | €25,052 | +€15,356 | +158% |
| Amounts payable | 17/49 | €122,963 | €91,198 | -€31,765 | -25.8% |
| Amounts payable within one year | 42/48 | €109,763 | €91,198 | -€18,565 | -16.9% |
| Trade debts | 44 | €28,506 | €2,341 | -€26,165 | -91.8% |
| Suppliers | 440/4 | €28,506 | €2,341 | -€26,165 | -91.8% |
| Taxes, remuneration and social security | 45 | - | €4,630 | +€4,630 | |
| Taxes | 450/3 | - | €4,630 | +€4,630 | |
| Other amounts payable | 47/48 | €81,257 | €84,228 | +€2,971 | +3.7% |
| Accrued charges and deferred income | 492/3 | €13,200 | - | -€13,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,956 | €15,120 | +€8,164 | +117% |
| Other operating charges | 640/8 | €1,388 | €4,289 | +€2,900 | +209% |
| Gross operating margin | 9900 | €54,822 | €39,836 | -€14,986 | -27.3% |
| Operating profit (loss) | 9901 | €46,478 | €20,427 | -€26,051 | -56.1% |
| Financial charges | 65/66B | €61 | €441 | +€380 | +622% |
| Recurring financial charges | 65 | €61 | €441 | +€380 | +622% |
| Profit (loss) for the period before taxes | 9903 | €46,417 | €19,986 | -€26,431 | -56.9% |
| Income taxes | 67/77 | - | €4,630 | +€4,630 | |
| Profit (loss) for the period | 9904 | €46,417 | €15,356 | -€31,060 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,417 | €15,356 | -€31,060 | -66.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.