1517: what changed
Two fiscal 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.
1517
Largest movements
- Cash -€40,173
down €40,173 (-84.0%), from €47,836 to €7,663
mainly Investment in fixed assets (net) (-€79,320) and Trade debts (-€30,974)
- Receivables within one year -€31,902
down €31,902 (-9.8%), from €326,510 to €294,607
of which Trade receivables: -€93,043
- Tangible fixed assets +€30,858
up €30,858 (+1.4%), from €2.3m to €2.3m
of which Land and buildings: +€45,859
- Trade debts -€30,974
down €30,974 (-68.1%), from €45,497 to €14,523
- Gross operating margin -€258,535
down €258,535 (-66.1%), from €391,210 to €132,675
- Financial income -€82,908
down €82,908 (-97.1%), from €85,419 to €2,510
of which Non-recurring financial income: -€85,000
- Financial charges -€78,817
down €78,817 (-67.9%), from €116,071 to €37,253
- Taxes -€78,629
down €78,629 (-81.7%), from €96,241 to €17,613
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 | €2,939,450 | €2,915,784 | -€23,666 | -0.8% |
| Fixed assets | 21/28 | €2,490,104 | €2,520,962 | +€30,858 | +1.2% |
| Tangible fixed assets | 22/27 | €2,258,857 | €2,289,714 | +€30,858 | +1.4% |
| Land and buildings | 22 | €2,141,090 | €2,186,949 | +€45,859 | +2.1% |
| Furniture and vehicles | 24 | €17,847 | €13,766 | -€4,080 | -22.9% |
| Other tangible fixed assets | 26 | €99,920 | €88,999 | -€10,921 | -10.9% |
| Financial fixed assets | 28 | €231,248 | €231,248 | = | 0.0% |
| Current assets | 29/58 | €449,346 | €394,822 | -€54,523 | -12.1% |
| Amounts receivable within one year | 40/41 | €326,510 | €294,607 | -€31,902 | -9.8% |
| Trade receivables | 40 | €97,302 | €4,259 | -€93,043 | -95.6% |
| Other amounts receivable | 41 | €229,208 | €290,348 | +€61,140 | +26.7% |
| Current investments | 50/53 | €75,000 | €90,000 | +€15,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €47,836 | €7,663 | -€40,173 | -84.0% |
| Deferred charges and accrued income | 490/1 | €0 | €2,552 | +€2,552 | |
| Total equity and liabilities | 10/49 | €2,939,450 | €2,915,784 | -€23,666 | -0.8% |
| Equity | 10/15 | €2,157,423 | €2,184,094 | +€26,672 | +1.2% |
| Contributions | 10/11 | €40,920 | €40,920 | = | 0.0% |
| Reserves | 13 | €245,068 | €271,740 | +€26,672 | +10.9% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €207,568 | €234,240 | +€26,672 | +12.8% |
| Profit (loss) carried forward | 14 | €1,871,434 | €1,871,434 | = | 0.0% |
| Amounts payable | 17/49 | €782,027 | €731,690 | -€50,337 | -6.4% |
| Amounts payable after more than one year | 17 | €334,611 | €321,103 | -€13,508 | -4.0% |
| Financial debts | 170/4 | €334,611 | €321,103 | -€13,508 | -4.0% |
| Amounts payable within one year | 42/48 | €422,889 | €381,977 | -€40,911 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €13,508 | €13,508 | = | 0.0% |
| Trade debts | 44 | €45,497 | €14,523 | -€30,974 | -68.1% |
| Suppliers | 440/4 | €45,497 | €14,523 | -€30,974 | -68.1% |
| Taxes, remuneration and social security | 45 | €7,405 | €10,519 | +€3,115 | +42.1% |
| Taxes | 450/3 | €7,405 | €10,519 | +€3,115 | +42.1% |
| Other amounts payable | 47/48 | €356,479 | €343,427 | -€13,052 | -3.7% |
| Accrued charges and deferred income | 492/3 | €24,528 | €28,610 | +€4,082 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,421 | €48,462 | +€41 | +0.1% |
| Other operating charges | 640/8 | €8,327 | €5,185 | -€3,142 | -37.7% |
| Gross operating margin | 9900 | €391,210 | €132,675 | -€258,535 | -66.1% |
| Operating profit (loss) | 9901 | €334,461 | €79,027 | -€255,434 | -76.4% |
| Financial income | 75/76B | €85,419 | €2,510 | -€82,908 | -97.1% |
| Recurring financial income | 75 | €419 | €2,510 | +€2,092 | +499.3% |
| Non-recurring financial income | 76B | €85,000 | €0 | -€85,000 | -100.0% |
| Financial charges | 65/66B | €116,071 | €37,253 | -€78,817 | -67.9% |
| Recurring financial charges | 65 | €116,071 | €37,253 | -€78,817 | -67.9% |
| Profit (loss) for the period before taxes | 9903 | €303,810 | €44,284 | -€259,525 | -85.4% |
| Income taxes | 67/77 | €96,241 | €17,613 | -€78,629 | -81.7% |
| Profit (loss) for the period | 9904 | €207,568 | €26,672 | -€180,897 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €207,568 | €26,672 | -€180,897 | -87.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.