FS2J: 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.
FS2J
Largest movements
- Receivables within one year -€19,485
down €19,485 (-24.7%), from €78,877 to €59,392
of which Trade receivables: -€36,145
- Tangible fixed assets -€13,285
down €13,285 (-21.6%), from €61,620 to €48,335
of which Furniture and vehicles: -€12,914
- Financial fixed assets -€6,150
down €6,150 (-16.7%), from €36,900 to €30,750
- Cash +€2,635
up €2,635 (+5.4%), from €48,619 to €51,253
mainly Other debts (+€62,910) and Receivables within one year (+€19,485)
- Profit (loss) carried forward -€100,478
down €100,478 (-99.8%), from €100,724 to €246
- Other debts +€62,910
up €62,910 (+121%), from €51,916 to €114,827
- Debts after one year +€12,600
up €12,600 (+33.8%), from €37,251 to €49,851
- Trade debts -€8,500
down €8,500 (-94.4%), from €9,002 to €502
- Tax, wage and social debts -€8,293
down €8,293 (-58.2%), from €14,237 to €5,944
of which Taxes: -€8,293
- Gross operating margin -€48,199
down €48,199 (-72.8%), from €66,206 to €18,007
- Staff costs -€17,252
no longer reported in 2025 (was €17,252)
- Depreciation +€9,699
up €9,699 (+270%), from €3,586 to €13,285
- Taxes -€8,508
down €8,508 (-75.8%), from €11,223 to €2,715
- Other operating charges -€1,826
down €1,826 (-61.7%), from €2,960 to €1,134
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 | €228,323 | €192,491 | -€35,831 | -15.7% |
| Fixed assets | 21/28 | €98,520 | €79,085 | -€19,435 | -19.7% |
| Tangible fixed assets | 22/27 | €61,620 | €48,335 | -€13,285 | -21.6% |
| Plant, machinery and equipment | 23 | €1,821 | €1,451 | -€371 | -20.4% |
| Furniture and vehicles | 24 | €59,799 | €46,885 | -€12,914 | -21.6% |
| Financial fixed assets | 28 | €36,900 | €30,750 | -€6,150 | -16.7% |
| Current assets | 29/58 | €129,802 | €113,406 | -€16,397 | -12.6% |
| Amounts receivable within one year | 40/41 | €78,877 | €59,392 | -€19,485 | -24.7% |
| Trade receivables | 40 | €55,659 | €19,515 | -€36,145 | -64.9% |
| Other amounts receivable | 41 | €23,218 | €39,878 | +€16,660 | +71.8% |
| Cash at bank and in hand | 54/58 | €48,619 | €51,253 | +€2,635 | +5.4% |
| Deferred charges and accrued income | 490/1 | €2,306 | €2,760 | +€454 | +19.7% |
| Total equity and liabilities | 10/49 | €228,323 | €192,491 | -€35,831 | -15.7% |
| Equity | 10/15 | €106,724 | €6,246 | -€100,478 | -94.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,724 | €246 | -€100,478 | -99.8% |
| Amounts payable | 17/49 | €121,598 | €186,245 | +€64,647 | +53.2% |
| Amounts payable after more than one year | 17 | €37,251 | €49,851 | +€12,600 | +33.8% |
| Financial debts | 170/4 | €37,251 | €49,851 | +€12,600 | +33.8% |
| Amounts payable within one year | 42/48 | €84,347 | €136,393 | +€52,047 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €9,191 | €15,121 | +€5,929 | +64.5% |
| Trade debts | 44 | €9,002 | €502 | -€8,500 | -94.4% |
| Suppliers | 440/4 | €9,002 | €502 | -€8,500 | -94.4% |
| Taxes, remuneration and social security | 45 | €14,237 | €5,944 | -€8,293 | -58.2% |
| Taxes | 450/3 | €14,237 | €5,944 | -€8,293 | -58.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €51,916 | €114,827 | +€62,910 | +121% |
| Remuneration, social security and pensions | 62 | €17,252 | - | -€17,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,586 | €13,285 | +€9,699 | +270% |
| Other operating charges | 640/8 | €2,960 | €1,134 | -€1,826 | -61.7% |
| Gross operating margin | 9900 | €66,206 | €18,007 | -€48,199 | -72.8% |
| Operating profit (loss) | 9901 | €42,408 | €3,588 | -€38,820 | -91.5% |
| Financial income | 75/76B | €172 | €754 | +€581 | +337% |
| Recurring financial income | 75 | €172 | €754 | +€581 | +337% |
| Financial charges | 65/66B | €405 | €2,104 | +€1,699 | +419% |
| Recurring financial charges | 65 | €405 | €2,104 | +€1,699 | +419% |
| Profit (loss) for the period before taxes | 9903 | €42,175 | €2,237 | -€39,938 | -94.7% |
| Income taxes | 67/77 | €11,223 | €2,715 | -€8,508 | -75.8% |
| Profit (loss) for the period | 9904 | €30,953 | -€478 | -€31,431 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,953 | -€478 | -€31,431 |
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 24 October 2026 via checked.be.