2Circle: 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.
2Circle
Largest movements
- Receivables within one year +€24,292
up €24,292 (+70.8%), from €34,291 to €58,582
of which Other amounts receivable: +€25,949
- Cash +€7,447
up €7,447 (+2.4%), from €315,164 to €322,611
mainly Net result for the year (+€109,520) and Depreciation (+€9,909)
- Reserves +€43,000
up €43,000 (+13.4%), from €320,594 to €363,594
of which Distributable reserves: +€43,000
- Other debts -€15,744
down €15,744 (-34.5%), from €45,688 to €29,944
- Tax, wage and social debts +€5,516
up €5,516 (+37.8%), from €14,583 to €20,098
of which Remuneration and social security: +€3,389
- Gross operating margin +€25,788
up €25,788 (+16.0%), from €160,738 to €186,526
- Staff costs +€11,846
new in 2025: €11,846
- Taxes +€5,701
up €5,701 (+12.4%), from €46,109 to €51,810
- Depreciation -€3,061
down €3,061 (-23.6%), from €12,970 to €9,909
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 | €419,661 | €451,898 | +€32,237 | +7.7% |
| Fixed assets | 21/28 | €43,426 | €43,718 | +€292 | +0.7% |
| Tangible fixed assets | 22/27 | €42,966 | €43,258 | +€292 | +0.7% |
| Land and buildings | 22 | €23,675 | €22,008 | -€1,667 | -7.0% |
| Plant, machinery and equipment | 23 | €3,161 | €12,050 | +€8,889 | +281.2% |
| Furniture and vehicles | 24 | €10,475 | €5,185 | -€5,290 | -50.5% |
| Other tangible fixed assets | 26 | €5,654 | €4,014 | -€1,640 | -29.0% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €376,235 | €408,180 | +€31,945 | +8.5% |
| Amounts receivable within one year | 40/41 | €34,291 | €58,582 | +€24,292 | +70.8% |
| Trade receivables | 40 | €30,240 | €28,582 | -€1,658 | -5.5% |
| Other amounts receivable | 41 | €4,051 | €30,000 | +€25,949 | +640.6% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €315,164 | €322,611 | +€7,447 | +2.4% |
| Deferred charges and accrued income | 490/1 | €1,781 | €1,987 | +€206 | +11.6% |
| Total equity and liabilities | 10/49 | €419,661 | €451,898 | +€32,237 | +7.7% |
| Equity | 10/15 | €357,553 | €401,074 | +€43,520 | +12.2% |
| Contributions | 10/11 | €35,945 | €35,945 | = | 0.0% |
| Reserves | 13 | €320,594 | €363,594 | +€43,000 | +13.4% |
| Non-distributable reserves | 130/1 | €3,594 | €3,594 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,594 | €3,594 | = | 0.0% |
| Distributable reserves | 133 | €317,000 | €360,000 | +€43,000 | +13.6% |
| Profit (loss) carried forward | 14 | €1,014 | €1,535 | +€520 | +51.3% |
| Amounts payable | 17/49 | €62,108 | €50,824 | -€11,284 | -18.2% |
| Amounts payable within one year | 42/48 | €62,108 | €50,824 | -€11,284 | -18.2% |
| Trade debts | 44 | €1,837 | €782 | -€1,055 | -57.4% |
| Suppliers | 440/4 | €1,837 | €782 | -€1,055 | -57.4% |
| Taxes, remuneration and social security | 45 | €14,583 | €20,098 | +€5,516 | +37.8% |
| Taxes | 450/3 | €14,583 | €16,709 | +€2,127 | +14.6% |
| Remuneration and social security | 454/9 | - | €3,389 | +€3,389 | |
| Other amounts payable | 47/48 | €45,688 | €29,944 | -€15,744 | -34.5% |
| Remuneration, social security and pensions | 62 | - | €11,846 | +€11,846 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,970 | €9,909 | -€3,061 | -23.6% |
| Other operating charges | 640/8 | €594 | €693 | +€98 | +16.6% |
| Non-recurring operating charges | 66A | €1,117 | €389 | -€728 | -65.2% |
| Gross operating margin | 9900 | €160,738 | €186,526 | +€25,788 | +16.0% |
| Operating profit (loss) | 9901 | €146,057 | €163,691 | +€17,633 | +12.1% |
| Financial income | 75/76B | €529 | €486 | -€42 | -8.0% |
| Recurring financial income | 75 | €529 | €486 | -€42 | -8.0% |
| Financial charges | 65/66B | €2,981 | €2,847 | -€134 | -4.5% |
| Recurring financial charges | 65 | €2,981 | €2,847 | -€134 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €143,605 | €161,330 | +€17,725 | +12.3% |
| Income taxes | 67/77 | €46,109 | €51,810 | +€5,701 | +12.4% |
| Profit (loss) for the period | 9904 | €97,497 | €109,520 | +€12,024 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €97,497 | €109,520 | +€12,024 | +12.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.