20th: 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.
20th
Largest movements
- Cash -€53,862
down €53,862 (-24.2%), from €222,338 to €168,476
mainly Contributions, distributions and other (-€45,500) and Tax, wage and social debts (-€18,834)
- Tangible fixed assets -€21,385
down €21,385 (-10.9%), from €196,889 to €175,504
of which Furniture and vehicles: -€13,524
- Reserves -€44,460
down €44,460 (-10.1%), from €438,190 to €393,730
- Tax, wage and social debts -€18,834
down €18,834 (-90.9%), from €20,709 to €1,875
- Debts after one year -€9,089
down €9,089 (-13.4%), from €67,922 to €58,833
- Gross operating margin -€263,460
down €263,460 (-94.0%), from €280,148 to €16,688
- Taxes -€78,812
down €78,812 (-98.5%), from €79,992 to €1,180
- Financial charges -€4,255
down €4,255 (-72.5%), from €5,870 to €1,615
- Financial income -€2,806
down €2,806 (-23.4%), from €11,971 to €9,165
of which Non-recurring financial income: -€1,643
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 | €628,415 | €549,752 | -€78,663 | -12.5% |
| Fixed assets | 21/28 | €196,889 | €175,504 | -€21,385 | -10.9% |
| Tangible fixed assets | 22/27 | €196,889 | €175,504 | -€21,385 | -10.9% |
| Land and buildings | 22 | €137,589 | €130,000 | -€7,589 | -5.5% |
| Plant, machinery and equipment | 23 | €6,072 | €5,800 | -€272 | -4.5% |
| Furniture and vehicles | 24 | €53,228 | €39,704 | -€13,524 | -25.4% |
| Current assets | 29/58 | €431,526 | €374,248 | -€57,278 | -13.3% |
| Amounts receivable within one year | 40/41 | €6,449 | €3,314 | -€3,135 | -48.6% |
| Trade receivables | 40 | €6,449 | - | -€6,449 | |
| Other amounts receivable | 41 | - | €3,314 | +€3,314 | |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €222,338 | €168,476 | -€53,862 | -24.2% |
| Deferred charges and accrued income | 490/1 | €2,739 | €2,458 | -€281 | -10.3% |
| Total equity and liabilities | 10/49 | €628,415 | €549,752 | -€78,663 | -12.5% |
| Equity | 10/15 | €480,232 | €435,772 | -€44,460 | -9.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €438,190 | €393,730 | -€44,460 | -10.1% |
| Distributable reserves | 133 | €438,190 | €393,730 | -€44,460 | -10.1% |
| Profit (loss) carried forward | 14 | €29,542 | €29,542 | = | 0.0% |
| Amounts payable | 17/49 | €148,183 | €113,980 | -€34,203 | -23.1% |
| Amounts payable after more than one year | 17 | €67,922 | €58,833 | -€9,089 | -13.4% |
| Financial debts | 170/4 | €67,922 | €58,833 | -€9,089 | -13.4% |
| Amounts payable within one year | 42/48 | €80,261 | €55,147 | -€25,114 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €8,932 | €9,090 | +€158 | +1.8% |
| Trade debts | 44 | €2,140 | €957 | -€1,183 | -55.3% |
| Suppliers | 440/4 | €2,140 | €957 | -€1,183 | -55.3% |
| Taxes, remuneration and social security | 45 | €20,709 | €1,875 | -€18,834 | -90.9% |
| Taxes | 450/3 | €20,709 | €1,875 | -€18,834 | -90.9% |
| Other amounts payable | 47/48 | €48,480 | €43,225 | -€5,255 | -10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,820 | €21,385 | -€1,435 | -6.3% |
| Other operating charges | 640/8 | €1,533 | €633 | -€900 | -58.7% |
| Non-recurring operating charges | 66A | €2,534 | - | -€2,534 | |
| Gross operating margin | 9900 | €280,148 | €16,688 | -€263,460 | -94.0% |
| Operating profit (loss) | 9901 | €253,261 | -€5,330 | -€258,591 | |
| Financial income | 75/76B | €11,971 | €9,165 | -€2,806 | -23.4% |
| Recurring financial income | 75 | €10,328 | €9,165 | -€1,163 | -11.3% |
| Non-recurring financial income | 76B | €1,643 | - | -€1,643 | |
| Financial charges | 65/66B | €5,870 | €1,615 | -€4,255 | -72.5% |
| Recurring financial charges | 65 | €5,870 | €1,615 | -€4,255 | -72.5% |
| Profit (loss) for the period before taxes | 9903 | €259,362 | €2,220 | -€257,142 | -99.1% |
| Income taxes | 67/77 | €79,992 | €1,180 | -€78,812 | -98.5% |
| Profit (loss) for the period | 9904 | €179,370 | €1,040 | -€178,330 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €179,370 | €1,040 | -€178,330 | -99.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.