ELEMENT 80: what changed
ELEMENT 80
Largest movements
- Cash -€60,169
down €60,169 (-61.5%), from €97,834 to €37,665
mainly Receivables within one year (-€22,892) and Debts after one year (-€19,500)
- Receivables within one year +€22,892
up €22,892 (+86.7%), from €26,394 to €49,286
of which Trade receivables: +€24,648
- Debts after one year -€19,500
down €19,500 (-37.5%), from €52,000 to €32,500
- Tax, wage and social debts -€19,050
no longer reported in 2025 (was €19,050)
- Other debts +€7,798
up €7,798 (+9.0%), from €86,412 to €94,209
- Reserves -€6,009
down €6,009 (-6.4%), from €94,028 to €88,019
- Gross operating margin -€46,186
down €46,186 (-99.1%), from €46,620 to €434
- Depreciation -€15,940
down €15,940 (-92.8%), from €17,178 to €1,238
- Taxes -€5,512
down €5,512 (-99.6%), from €5,532 to €20
- Other operating charges +€2,019
up €2,019 (+121%), from €1,667 to €3,686
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 | €292,290 | €253,774 | -€38,515 | -13.2% |
| Fixed assets | 21/28 | €168,061 | €166,823 | -€1,238 | -0.7% |
| Tangible fixed assets | 22/27 | €168,061 | €166,823 | -€1,238 | -0.7% |
| Land and buildings | 22 | €166,781 | €166,781 | = | 0.0% |
| Plant, machinery and equipment | 23 | €511 | €42 | -€469 | -91.7% |
| Furniture and vehicles | 24 | €769 | - | -€769 | |
| Current assets | 29/58 | €124,228 | €86,951 | -€37,277 | -30.0% |
| Amounts receivable within one year | 40/41 | €26,394 | €49,286 | +€22,892 | +86.7% |
| Trade receivables | 40 | €10,150 | €34,798 | +€24,648 | +243% |
| Other amounts receivable | 41 | €16,244 | €14,488 | -€1,757 | -10.8% |
| Cash at bank and in hand | 54/58 | €97,834 | €37,665 | -€60,169 | -61.5% |
| Total equity and liabilities | 10/49 | €292,290 | €253,774 | -€38,515 | -13.2% |
| Equity | 10/15 | €112,628 | €106,619 | -€6,009 | -5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,028 | €88,019 | -€6,009 | -6.4% |
| Distributable reserves | 133 | €94,028 | €88,019 | -€6,009 | -6.4% |
| Amounts payable | 17/49 | €179,661 | €147,155 | -€32,506 | -18.1% |
| Amounts payable after more than one year | 17 | €52,000 | €32,500 | -€19,500 | -37.5% |
| Financial debts | 170/4 | €52,000 | €32,500 | -€19,500 | -37.5% |
| Amounts payable within one year | 42/48 | €127,661 | €114,655 | -€13,006 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €19,500 | €19,500 | = | 0.0% |
| Trade debts | 44 | €2,700 | €946 | -€1,754 | -65.0% |
| Suppliers | 440/4 | €2,700 | €946 | -€1,754 | -65.0% |
| Taxes, remuneration and social security | 45 | €19,050 | - | -€19,050 | |
| Taxes | 450/3 | €19,050 | - | -€19,050 | |
| Other amounts payable | 47/48 | €86,412 | €94,209 | +€7,798 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,178 | €1,238 | -€15,940 | -92.8% |
| Other operating charges | 640/8 | €1,667 | €3,686 | +€2,019 | +121% |
| Gross operating margin | 9900 | €46,620 | €434 | -€46,186 | -99.1% |
| Operating profit (loss) | 9901 | €27,774 | -€4,490 | -€32,265 | |
| Financial income | 75/76B | €212 | €470 | +€258 | +122% |
| Recurring financial income | 75 | €212 | €470 | +€258 | +122% |
| Financial charges | 65/66B | €2,305 | €1,968 | -€337 | -14.6% |
| Recurring financial charges | 65 | €2,305 | €1,968 | -€337 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €25,681 | -€5,989 | -€31,670 | |
| Income taxes | 67/77 | €5,532 | €20 | -€5,512 | -99.6% |
| Profit (loss) for the period | 9904 | €20,149 | -€6,009 | -€26,159 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,149 | -€6,009 | -€26,159 |
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 1 November 2026 via checked.be.