1 FOR 2: 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.
1 FOR 2
Largest movements
- Cash -€54,572
down €54,572 (-38.4%), from €142,190 to €87,618
mainly Receivables within one year (-€40,543) and Debts after one year (-€31,476)
- Receivables within one year +€40,543
up €40,543 (+27.4%), from €147,994 to €188,537
of which Other amounts receivable: +€34,503
- Tangible fixed assets -€35,268
down €35,268 (-4.6%), from €766,325 to €731,058
of which Land and buildings: -€34,846
- Debts after one year -€31,476
down €31,476 (-7.7%), from €407,889 to €376,414
of which Financial debts: -€31,476
- Profit (loss) carried forward -€14,990
down €14,990 (-28.4%), from -€52,720 to -€67,710
- Gross operating margin -€10,389
down €10,389 (-26.5%), from €39,206 to €28,817
- Other operating charges +€3,677
up €3,677 (+121.3%), from €3,033 to €6,710
- Financial charges -€849
down €849 (-6.7%), from €12,656 to €11,806
- Financial income +€695
up €695 (+18.3%), from €3,800 to €4,495
of which Financial income: +€378
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.
Cash bridge derived
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 | €1,057,368 | €1,008,083 | -€49,285 | -4.7% |
| Fixed assets | 21/28 | €766,875 | €731,608 | -€35,268 | -4.6% |
| Tangible fixed assets | 22/27 | €766,325 | €731,058 | -€35,268 | -4.6% |
| Land and buildings | 22 | €761,834 | €726,988 | -€34,846 | -4.6% |
| Plant, machinery and equipment | 23 | €3,550 | €3,543 | -€8 | -0.2% |
| Furniture and vehicles | 24 | €942 | €527 | -€414 | -44.0% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €290,492 | €276,475 | -€14,017 | -4.8% |
| Amounts receivable within one year | 40/41 | €147,994 | €188,537 | +€40,543 | +27.4% |
| Trade receivables | 40 | €1,830 | €7,870 | +€6,040 | +330.1% |
| Other amounts receivable | 41 | €146,164 | €180,667 | +€34,503 | +23.6% |
| Cash at bank and in hand | 54/58 | €142,190 | €87,618 | -€54,572 | -38.4% |
| Deferred charges and accrued income | 490/1 | €309 | €321 | +€12 | +3.7% |
| Total equity and liabilities | 10/49 | €1,057,368 | €1,008,083 | -€49,285 | -4.7% |
| Equity | 10/15 | €497,280 | €482,290 | -€14,990 | -3.0% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,720 | -€67,710 | -€14,990 | -28.4% |
| Amounts payable | 17/49 | €560,088 | €525,793 | -€34,295 | -6.1% |
| Amounts payable after more than one year | 17 | €407,889 | €376,414 | -€31,476 | -7.7% |
| Financial debts | 170/4 | €406,889 | €375,414 | -€31,476 | -7.7% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €152,199 | €149,379 | -€2,819 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €30,625 | €31,476 | +€851 | +2.8% |
| Trade debts | 44 | €185 | €339 | +€154 | +83.2% |
| Suppliers | 440/4 | €185 | €339 | +€154 | +83.2% |
| Taxes, remuneration and social security | 45 | €515 | €0 | -€515 | -100.0% |
| Taxes | 450/3 | €515 | €0 | -€515 | -100.0% |
| Other amounts payable | 47/48 | €120,874 | €117,565 | -€3,309 | -2.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,971 | €29,786 | -€186 | -0.6% |
| Other operating charges | 640/8 | €3,033 | €6,710 | +€3,677 | +121.3% |
| Gross operating margin | 9900 | €39,206 | €28,817 | -€10,389 | -26.5% |
| Operating profit (loss) | 9901 | €6,202 | -€7,679 | -€13,881 | |
| Financial income | 75/76B | €3,800 | €4,495 | +€695 | +18.3% |
| Recurring financial income | 75 | €3,800 | €4,179 | +€378 | +10.0% |
| Non-recurring financial income | 76B | €0 | €316 | +€316 | |
| Financial charges | 65/66B | €12,656 | €11,806 | -€849 | -6.7% |
| Recurring financial charges | 65 | €12,656 | €11,806 | -€849 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,653 | -€14,990 | -€12,337 | -465.0% |
| Profit (loss) for the period | 9904 | -€2,653 | -€14,990 | -€12,337 | -465.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,653 | -€14,990 | -€12,337 | -465.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.