F3: 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.
F3
Largest movements
- Tangible fixed assets -€32,694
down €32,694 (-27.6%), from €118,431 to €85,737
of which Furniture and vehicles: -€24,624
- Cash +€15,965
up €15,965 (+19.0%), from €84,215 to €100,180
mainly Other debts (+€33,412) and Depreciation (+€33,166)
- Reserves -€34,638
down €34,638 (-100%), from €34,638 to €0
- Other debts +€33,412
up €33,412 (+30.4%), from €109,846 to €143,258
- Debts after one year -€13,295
down €13,295 (-59.3%), from €22,413 to €9,118
- Tax, wage and social debts +€4,418
up €4,418 (+34.5%), from €12,806 to €17,224
of which Taxes: +€4,939
- Trade debts -€2,751
down €2,751 (-43.1%), from €6,382 to €3,631
- Gross operating margin -€18,145
down €18,145 (-21.3%), from €85,344 to €67,199
- Depreciation +€8,183
up €8,183 (+32.8%), from €24,983 to €33,166
- Taxes -€4,429
down €4,429 (-32.5%), from €13,632 to €9,203
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 | €231,372 | €216,862 | -€14,510 | -6.3% |
| Fixed assets | 21/28 | €118,631 | €85,937 | -€32,694 | -27.6% |
| Tangible fixed assets | 22/27 | €118,431 | €85,737 | -€32,694 | -27.6% |
| Land and buildings | 22 | €59,034 | €51,488 | -€7,546 | -12.8% |
| Plant, machinery and equipment | 23 | €1,390 | €866 | -€523 | -37.7% |
| Furniture and vehicles | 24 | €58,007 | €33,383 | -€24,624 | -42.5% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €112,741 | €130,925 | +€18,184 | +16.1% |
| Amounts receivable within one year | 40/41 | €26,487 | €28,688 | +€2,201 | +8.3% |
| Trade receivables | 40 | €22,881 | €18,340 | -€4,541 | -19.8% |
| Other amounts receivable | 41 | €3,607 | €10,349 | +€6,742 | +187% |
| Cash at bank and in hand | 54/58 | €84,215 | €100,180 | +€15,965 | +19.0% |
| Deferred charges and accrued income | 490/1 | €2,039 | €2,056 | +€18 | +0.9% |
| Total equity and liabilities | 10/49 | €231,372 | €216,862 | -€14,510 | -6.3% |
| Equity | 10/15 | €64,638 | €30,000 | -€34,638 | -53.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €34,638 | €0 | -€34,638 | -100% |
| Distributable reserves | 133 | €34,638 | €0 | -€34,638 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €166,733 | €186,862 | +€20,128 | +12.1% |
| Amounts payable after more than one year | 17 | €22,413 | €9,118 | -€13,295 | -59.3% |
| Financial debts | 170/4 | €22,413 | €9,118 | -€13,295 | -59.3% |
| Amounts payable within one year | 42/48 | €144,320 | €177,408 | +€33,088 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €12,850 | €13,295 | +€445 | +3.5% |
| Financial debts | 43 | €2,437 | €0 | -€2,437 | -100% |
| Credit institutions | 430/8 | €2,437 | €0 | -€2,437 | -100% |
| Trade debts | 44 | €6,382 | €3,631 | -€2,751 | -43.1% |
| Suppliers | 440/4 | €6,382 | €3,631 | -€2,751 | -43.1% |
| Taxes, remuneration and social security | 45 | €12,806 | €17,224 | +€4,418 | +34.5% |
| Taxes | 450/3 | €12,285 | €17,224 | +€4,939 | +40.2% |
| Remuneration and social security | 454/9 | €520 | €0 | -€520 | -100% |
| Other amounts payable | 47/48 | €109,846 | €143,258 | +€33,412 | +30.4% |
| Accrued charges and deferred income | 492/3 | - | €335 | +€335 | |
| Remuneration, social security and pensions | 62 | €11,059 | €10,445 | -€615 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,983 | €33,166 | +€8,183 | +32.8% |
| Other operating charges | 640/8 | €292 | €67 | -€225 | -77.0% |
| Gross operating margin | 9900 | €85,344 | €67,199 | -€18,145 | -21.3% |
| Operating profit (loss) | 9901 | €49,010 | €23,521 | -€25,489 | -52.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €740 | €1,127 | +€387 | +52.3% |
| Recurring financial charges | 65 | €740 | €1,127 | +€387 | +52.3% |
| Profit (loss) for the period before taxes | 9903 | €48,270 | €22,394 | -€25,876 | -53.6% |
| Income taxes | 67/77 | €13,632 | €9,203 | -€4,429 | -32.5% |
| Profit (loss) for the period | 9904 | €34,638 | €13,191 | -€21,448 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,638 | €13,191 | -€21,448 | -61.9% |
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 26 October 2026 via checked.be.