2M: 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.
2M
Largest movements
- Tangible fixed assets -€35,989
down €35,989 (-3.2%), from €1.1m to €1.1m
- Debts after one year -€45,796
down €45,796 (-5.9%), from €780,352 to €734,556
- Gross operating margin -€6,448
down €6,448 (-8.6%), from €75,003 to €68,554
- Financial charges -€3,878
down €3,878 (-14.4%), from €26,890 to €23,012
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 | €1,131,987 | €1,095,046 | -€36,941 | -3.3% |
| Fixed assets | 21/28 | €1,123,193 | €1,087,204 | -€35,989 | -3.2% |
| Tangible fixed assets | 22/27 | €1,123,193 | €1,087,204 | -€35,989 | -3.2% |
| Land and buildings | 22 | €1,123,193 | €1,087,204 | -€35,989 | -3.2% |
| Current assets | 29/58 | €8,794 | €7,842 | -€951 | -10.8% |
| Amounts receivable within one year | 40/41 | - | €3,604 | +€3,604 | |
| Trade receivables | 40 | - | €3,604 | +€3,604 | |
| Cash at bank and in hand | 54/58 | €8,794 | €4,238 | -€4,556 | -51.8% |
| Total equity and liabilities | 10/49 | €1,131,987 | €1,095,046 | -€36,941 | -3.3% |
| Equity | 10/15 | €295,837 | €299,870 | +€4,033 | +1.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,163 | -€130 | +€4,033 | +96.9% |
| Amounts payable | 17/49 | €836,149 | €795,176 | -€40,974 | -4.9% |
| Amounts payable after more than one year | 17 | €780,352 | €734,556 | -€45,796 | -5.9% |
| Financial debts | 170/4 | €780,352 | €734,556 | -€45,796 | -5.9% |
| Amounts payable within one year | 42/48 | €55,425 | €59,718 | +€4,292 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €45,506 | €45,796 | +€290 | +0.6% |
| Trade debts | 44 | €1,263 | €8,572 | +€7,309 | +578.8% |
| Suppliers | 440/4 | €1,263 | €8,572 | +€7,309 | +578.8% |
| Advances received on contracts in progress | 46 | €8,657 | - | -€8,657 | |
| Other amounts payable | 47/48 | - | €5,350 | +€5,350 | |
| Accrued charges and deferred income | 492/3 | €372 | €902 | +€530 | +142.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,598 | €35,989 | -€609 | -1.7% |
| Other operating charges | 640/8 | €5,311 | €5,520 | +€208 | +3.9% |
| Gross operating margin | 9900 | €75,003 | €68,554 | -€6,448 | -8.6% |
| Operating profit (loss) | 9901 | €33,093 | €27,045 | -€6,048 | -18.3% |
| Financial charges | 65/66B | €26,890 | €23,012 | -€3,878 | -14.4% |
| Recurring financial charges | 65 | €26,890 | €23,012 | -€3,878 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €6,203 | €4,033 | -€2,170 | -35.0% |
| Profit (loss) for the period | 9904 | €6,203 | €4,033 | -€2,170 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,203 | €4,033 | -€2,170 | -35.0% |
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 29 September 2026 via checked.be.