A&+: 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.
A&+
Largest movements
- Cash +€86,153
up €86,153 (+27.6%), from €311,870 to €398,023
mainly Net result for the year (+€80,826) and Tax, wage and social debts (+€6,503)
- Receivables within one year +€6,503
up €6,503 (+22.4%), from €29,040 to €35,543
- Reserves +€80,826
up €80,826 (+41.3%), from €195,869 to €276,695
- Tax, wage and social debts +€6,503
up €6,503 (+103.7%), from €6,268 to €12,771
- Financial income +€1.5m
up €1.5m (+37418.9%), from €3,998 to €1.5m
of which Non-recurring financial income: +€1.5m
- Write-downs -€38,475
new in 2025: -€38,475
- Other operating charges +€37,515
up €37,515 (+3906.7%), from €960 to €38,475
- Gross operating margin +€27,511
up €27,511 (+30.3%), from €90,883 to €118,394
- Taxes +€10,634
up €10,634 (+44.5%), from €23,910 to €34,544
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 | €369,462 | €459,164 | +€89,701 | +24.3% |
| Fixed assets | 21/28 | €28,552 | €25,598 | -€2,954 | -10.3% |
| Tangible fixed assets | 22/27 | €28,552 | €25,598 | -€2,954 | -10.3% |
| Plant, machinery and equipment | 23 | €375 | - | -€375 | |
| Furniture and vehicles | 24 | €3,803 | €2,635 | -€1,168 | -30.7% |
| Leasing and similar rights | 25 | €6,323 | €5,787 | -€536 | -8.5% |
| Other tangible fixed assets | 26 | €18,051 | €17,177 | -€875 | -4.8% |
| Current assets | 29/58 | €340,910 | €433,565 | +€92,656 | +27.2% |
| Amounts receivable within one year | 40/41 | €29,040 | €35,543 | +€6,503 | +22.4% |
| Trade receivables | 40 | €29,040 | €35,543 | +€6,503 | +22.4% |
| Cash at bank and in hand | 54/58 | €311,870 | €398,023 | +€86,153 | +27.6% |
| Total equity and liabilities | 10/49 | €369,462 | €459,164 | +€89,701 | +24.3% |
| Equity | 10/15 | €205,869 | €286,695 | +€80,826 | +39.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €195,869 | €276,695 | +€80,826 | +41.3% |
| Distributable reserves | 133 | €195,869 | €276,695 | +€80,826 | +41.3% |
| Amounts payable | 17/49 | €163,593 | €172,469 | +€8,876 | +5.4% |
| Amounts payable within one year | 42/48 | €163,593 | €172,469 | +€8,876 | +5.4% |
| Trade debts | 44 | €1,599 | - | -€1,599 | |
| Suppliers | 440/4 | €1,599 | - | -€1,599 | |
| Taxes, remuneration and social security | 45 | €6,268 | €12,771 | +€6,503 | +103.7% |
| Taxes | 450/3 | €6,268 | €12,771 | +€6,503 | +103.7% |
| Other amounts payable | 47/48 | €155,726 | €159,698 | +€3,972 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,424 | €2,954 | -€470 | -13.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€38,475 | -€38,475 | |
| Other operating charges | 640/8 | €960 | €38,475 | +€37,515 | +3906.7% |
| Non-recurring operating charges | 66A | - | €1,490,000 | +€1.5m | |
| Gross operating margin | 9900 | €90,883 | €118,394 | +€27,511 | +30.3% |
| Operating profit (loss) | 9901 | €86,499 | -€1,374,560 | -€1.5m | |
| Financial income | 75/76B | €3,998 | €1,500,000 | +€1.5m | +37418.9% |
| Recurring financial income | 75 | €3,998 | €1,500,000 | +€1.5m | +37418.9% |
| Non-recurring financial income | 76B | - | €1,500,000 | +€1.5m | |
| Financial charges | 65/66B | €68 | €10,070 | +€10,002 | +14728.3% |
| Recurring financial charges | 65 | €68 | €70 | +€2 | +2.9% |
| Non-recurring financial charges | 66B | - | €10,000 | +€10,000 | |
| Profit (loss) for the period before taxes | 9903 | €90,429 | €115,370 | +€24,941 | +27.6% |
| Income taxes | 67/77 | €23,910 | €34,544 | +€10,634 | +44.5% |
| Profit (loss) for the period | 9904 | €66,519 | €80,826 | +€14,307 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,519 | €80,826 | +€14,307 | +21.5% |
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 4 October 2026 via checked.be.