SPEECHLESS: 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.
SPEECHLESS
Largest movements
- Cash -€535,826
down €535,826 (-81.3%), from €659,310 to €123,484
mainly Trade debts (-€1.7m) and Net result for the year (-€599,368)
- Tangible fixed assets -€181,346
down €181,346 (-3.9%), from €4.6m to €4.4m
of which Furniture and vehicles: -€114,225
- Receivables within one year -€95,799
down €95,799 (-23.6%), from €405,219 to €309,420
of which Trade receivables: -€158,011
- Stocks and contracts +€92,799
up €92,799 (+23.4%), from €397,192 to €489,991
- Formation expenses -€81,341
down €81,341 (-19.7%), from €412,436 to €331,095
- Trade debts -€1.7m
down €1.7m (-76.9%), from €2.2m to €510,118
- Debts after one year +€1.4m
up €1.4m (+35.4%), from €3.8m to €5.2m
- Profit (loss) carried forward -€599,368
down €599,368 (-204%), from -€293,842 to -€893,210
- Current portion of long-term debt +€156,575
up €156,575 (+63.7%), from €245,898 to €402,473
- Other debts -€72,422
down €72,422 (-42.0%), from €172,486 to €100,064
- Turnover +€8.3m
up €8.3m (+544%), from €1.5m to €9.8m
- Purchases and services +€7.3m
up €7.3m (+425%), from €1.7m to €9.0m
- Gross operating margin +€1.1m
up €1.1m (+1,316%), from €81,247 to €1.2m
- Staff costs +€707,896
up €707,896 (+452%), from €156,758 to €864,654
- Depreciation +€415,298
up €415,298 (+269%), from €154,520 to €569,817
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 | €6,490,663 | €5,696,890 | -€793,772 | -12.2% |
| Formation expenses | 20 | €412,436 | €331,095 | -€81,341 | -19.7% |
| Fixed assets | 21/28 | €4,613,107 | €4,422,266 | -€190,842 | -4.1% |
| Tangible fixed assets | 22/27 | €4,597,807 | €4,416,462 | -€181,346 | -3.9% |
| Land and buildings | 22 | €3,028,831 | €2,918,317 | -€110,514 | -3.6% |
| Plant, machinery and equipment | 23 | €946,820 | €917,317 | -€29,504 | -3.1% |
| Furniture and vehicles | 24 | €622,156 | €507,931 | -€114,225 | -18.4% |
| Leasing and similar rights | 25 | - | €72,897 | +€72,897 | |
| Financial fixed assets | 28 | €15,300 | €5,804 | -€9,496 | -62.1% |
| Current assets | 29/58 | €1,465,119 | €943,530 | -€521,589 | -35.6% |
| Stocks and contracts in progress | 3 | €397,192 | €489,991 | +€92,799 | +23.4% |
| Stocks | 30/36 | €397,192 | €489,991 | +€92,799 | +23.4% |
| Amounts receivable within one year | 40/41 | €405,219 | €309,420 | -€95,799 | -23.6% |
| Trade receivables | 40 | €275,996 | €117,985 | -€158,011 | -57.3% |
| Other amounts receivable | 41 | €129,223 | €191,435 | +€62,211 | +48.1% |
| Cash at bank and in hand | 54/58 | €659,310 | €123,484 | -€535,826 | -81.3% |
| Deferred charges and accrued income | 490/1 | €3,397 | €20,634 | +€17,236 | +507% |
| Total equity and liabilities | 10/49 | €6,490,663 | €5,696,890 | -€793,772 | -12.2% |
| Equity | 10/15 | -€43,842 | -€643,210 | -€599,368 | -1,367% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€293,842 | -€893,210 | -€599,368 | -204% |
| Amounts payable | 17/49 | €6,534,505 | €6,340,100 | -€194,404 | -3.0% |
| Amounts payable after more than one year | 17 | €3,848,102 | €5,209,700 | +€1.4m | +35.4% |
| Financial debts | 170/4 | €3,848,102 | €5,209,700 | +€1.4m | +35.4% |
| Amounts payable within one year | 42/48 | €2,670,622 | €1,112,496 | -€1.6m | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €245,898 | €402,473 | +€156,575 | +63.7% |
| Trade debts | 44 | €2,212,403 | €510,118 | -€1.7m | -76.9% |
| Suppliers | 440/4 | €2,212,403 | €510,118 | -€1.7m | -76.9% |
| Taxes, remuneration and social security | 45 | €39,835 | €99,840 | +€60,005 | +151% |
| Taxes | 450/3 | €21,215 | €19,606 | -€1,609 | -7.6% |
| Remuneration and social security | 454/9 | €18,619 | €80,234 | +€61,614 | +331% |
| Other amounts payable | 47/48 | €172,486 | €100,064 | -€72,422 | -42.0% |
| Accrued charges and deferred income | 492/3 | €15,781 | €17,904 | +€2,123 | +13.5% |
| Turnover | 70 | €1,521,614 | €9,791,982 | +€8.3m | +544% |
| Non-recurring operating income | 76A | €228,000 | €141,684 | -€86,316 | -37.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,707,839 | €8,966,261 | +€7.3m | +425% |
| Remuneration, social security and pensions | 62 | €156,758 | €864,654 | +€707,896 | +452% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,520 | €569,817 | +€415,298 | +269% |
| Other operating charges | 640/8 | €3,863 | €66,632 | +€62,769 | +1,625% |
| Non-recurring operating charges | 66A | - | €502 | +€502 | |
| Gross operating margin | 9900 | €81,247 | €1,150,305 | +€1.1m | +1,316% |
| Operating profit (loss) | 9901 | -€233,893 | -€351,300 | -€117,407 | -50.2% |
| Financial income | 75/76B | €85 | €4,884 | +€4,799 | +5,673% |
| Recurring financial income | 75 | €85 | €4,884 | +€4,799 | +5,673% |
| Financial charges | 65/66B | €59,993 | €252,758 | +€192,765 | +321% |
| Recurring financial charges | 65 | €59,993 | €220,684 | +€160,691 | +268% |
| Non-recurring financial charges | 66B | - | €32,075 | +€32,075 | |
| Profit (loss) for the period before taxes | 9903 | -€293,802 | -€599,175 | -€305,373 | -104% |
| Income taxes | 67/77 | €40 | €193 | +€153 | +380% |
| Profit (loss) for the period | 9904 | -€293,842 | -€599,368 | -€305,526 | -104% |
| Profit (loss) for the period to be appropriated | 9905 | -€293,842 | -€599,368 | -€305,526 | -104% |
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 22 October 2026 via checked.be.