N2D2: 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.
N2D2
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Tax, wage and social debts -€15,001
down €15,001 (-70.3%), from €21,346 to €6,345
of which Taxes: -€15,047
- Other debts +€9,597
up €9,597 (+18.5%), from €51,753 to €61,350
- Gross operating margin -€35,627
down €35,627 (-74.6%), from €47,774 to €12,147
- Taxes -€8,248
down €8,248 (-60.4%), from €13,660 to €5,412
- Other operating charges -€2,949
down €2,949 (-65.9%), from €4,476 to €1,528
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 | €945,572 | €944,811 | -€761 | -0.1% |
| Fixed assets | 21/28 | €626,775 | €628,177 | +€1,402 | +0.2% |
| Tangible fixed assets | 22/27 | - | €1,402 | +€1,402 | |
| Furniture and vehicles | 24 | - | €1,402 | +€1,402 | |
| Financial fixed assets | 28 | €626,775 | €626,775 | = | 0.0% |
| Current assets | 29/58 | €318,797 | €316,634 | -€2,163 | -0.7% |
| Amounts receivable within one year | 40/41 | €285,641 | €289,762 | +€4,122 | +1.4% |
| Trade receivables | 40 | €23,005 | €15,632 | -€7,373 | -32.0% |
| Other amounts receivable | 41 | €262,636 | €274,131 | +€11,495 | +4.4% |
| Cash at bank and in hand | 54/58 | €33,157 | €25,077 | -€8,079 | -24.4% |
| Deferred charges and accrued income | 490/1 | - | €1,795 | +€1,795 | |
| Total equity and liabilities | 10/49 | €945,572 | €944,811 | -€761 | -0.1% |
| Equity | 10/15 | €762,798 | €762,798 | = | 0.0% |
| Contributions | 10/11 | €1,340,000 | €1,340,000 | = | 0.0% |
| Capital | 10 | €1,340,000 | €1,340,000 | = | 0.0% |
| Issued capital | 100 | €1,340,000 | €1,340,000 | = | 0.0% |
| Reserves | 13 | €134,000 | €134,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €134,000 | €134,000 | = | 0.0% |
| Legal reserve | 130 | €134,000 | €134,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€711,202 | -€711,202 | = | 0.0% |
| Amounts payable | 17/49 | €182,774 | €182,013 | -€761 | -0.4% |
| Amounts payable after more than one year | 17 | €106,667 | €106,667 | = | 0.0% |
| Financial debts | 170/4 | €106,667 | €106,667 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,108 | €75,347 | -€761 | -1.0% |
| Trade debts | 44 | €3,008 | €7,651 | +€4,643 | +154% |
| Suppliers | 440/4 | €3,008 | €7,651 | +€4,643 | +154% |
| Taxes, remuneration and social security | 45 | €21,346 | €6,345 | -€15,001 | -70.3% |
| Taxes | 450/3 | €21,346 | €6,299 | -€15,047 | -70.5% |
| Remuneration and social security | 454/9 | - | €45 | +€45 | |
| Other amounts payable | 47/48 | €51,753 | €61,350 | +€9,597 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €439 | €1 | -€438 | -99.7% |
| Other operating charges | 640/8 | €4,476 | €1,528 | -€2,949 | -65.9% |
| Gross operating margin | 9900 | €47,774 | €12,147 | -€35,627 | -74.6% |
| Operating profit (loss) | 9901 | €42,859 | €10,618 | -€32,241 | -75.2% |
| Financial income | 75/76B | €6,657 | €6,693 | +€37 | +0.6% |
| Recurring financial income | 75 | €6,657 | €6,693 | +€37 | +0.6% |
| Financial charges | 65/66B | €3,871 | €4,115 | +€243 | +6.3% |
| Recurring financial charges | 65 | €3,871 | €4,115 | +€243 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €45,644 | €13,197 | -€32,447 | -71.1% |
| Income taxes | 67/77 | €13,660 | €5,412 | -€8,248 | -60.4% |
| Profit (loss) for the period | 9904 | €31,984 | €7,785 | -€24,199 | -75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,984 | €7,785 | -€24,199 | -75.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.