A & B: 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 & B
Largest movements
- Receivables within one year -€2.6m
down €2.6m (-99.5%), from €2.6m to €12,949
of which Other amounts receivable: -€2.6m
- Financial fixed assets +€488,684
up €488,684 (+9.8%), from €5.0m to €5.5m
- Tangible fixed assets +€178,343
up €178,343 (+9.7%), from €1.8m to €2.0m
of which Furniture and vehicles: +€315,743
- Other debts -€1.6m
down €1.6m (-53.6%), from €3.0m to €1.4m
- Debts after one year -€760,000
no longer reported in 2025 (was €760,000)
- Current portion of long-term debt +€375,000
up €375,000 (+277.8%), from €135,000 to €510,000
- Reserves +€116,047
up €116,047 (+2.2%), from €5.4m to €5.5m
of which Distributable reserves: +€153,000
- Financial income -€3.9m
down €3.9m (-98.3%), from €3.9m to €67,192
of which Non-recurring financial income: -€2.5m
- Gross operating margin +€41,200
up €41,200 (+8.9%), from €462,638 to €503,838
- Other operating charges +€20,687
up €20,687 (+53.3%), from €38,843 to €59,530
- Depreciation +€7,009
up €7,009 (+5.0%), from €139,621 to €146,630
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 | €9,530,533 | €7,630,533 | -€1.9m | -19.9% |
| Fixed assets | 21/28 | €6,828,162 | €7,495,188 | +€667,026 | +9.8% |
| Tangible fixed assets | 22/27 | €1,845,016 | €2,023,358 | +€178,343 | +9.7% |
| Land and buildings | 22 | €1,840,497 | €1,703,601 | -€136,895 | -7.4% |
| Plant, machinery and equipment | 23 | €1,557 | €1,052 | -€505 | -32.4% |
| Furniture and vehicles | 24 | €2,962 | €318,705 | +€315,743 | +10660.9% |
| Financial fixed assets | 28 | €4,983,146 | €5,471,830 | +€488,684 | +9.8% |
| Current assets | 29/58 | €2,702,371 | €135,345 | -€2.6m | -95.0% |
| Amounts receivable within one year | 40/41 | €2,577,890 | €12,949 | -€2.6m | -99.5% |
| Trade receivables | 40 | €2,691 | €1,650 | -€1,041 | -38.7% |
| Other amounts receivable | 41 | €2,575,199 | €11,299 | -€2.6m | -99.6% |
| Cash at bank and in hand | 54/58 | €83,957 | €80,654 | -€3,303 | -3.9% |
| Deferred charges and accrued income | 490/1 | €40,525 | €41,743 | +€1,218 | +3.0% |
| Total equity and liabilities | 10/49 | €9,530,533 | €7,630,533 | -€1.9m | -19.9% |
| Equity | 10/15 | €5,447,334 | €5,550,792 | +€103,458 | +1.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €5,392,533 | €5,508,579 | +€116,047 | +2.2% |
| Non-distributable reserves | 130/1 | €3,000 | - | -€3,000 | |
| Reserves not available under the articles | 1311 | €3,000 | - | -€3,000 | |
| Tax-exempt reserves | 132 | €339,533 | €305,579 | -€33,953 | -10.0% |
| Distributable reserves | 133 | €5,050,000 | €5,203,000 | +€153,000 | +3.0% |
| Profit (loss) carried forward | 14 | €24,801 | €12,212 | -€12,589 | -50.8% |
| Provisions and deferred taxes | 16 | €113,178 | €101,860 | -€11,318 | -10.0% |
| Deferred taxes | 168 | €113,178 | €101,860 | -€11,318 | -10.0% |
| Amounts payable | 17/49 | €3,970,022 | €1,977,881 | -€2.0m | -50.2% |
| Amounts payable after more than one year | 17 | €760,000 | - | -€760,000 | |
| Financial debts | 170/4 | €760,000 | - | -€760,000 | |
| Amounts payable within one year | 42/48 | €3,210,022 | €1,977,881 | -€1.2m | -38.4% |
| Current portion of amounts payable after more than one year | 42 | €135,000 | €510,000 | +€375,000 | +277.8% |
| Financial debts | 43 | - | €11,269 | +€11,269 | |
| Credit institutions | 430/8 | - | €11,269 | +€11,269 | |
| Trade debts | 44 | €26,130 | €44,179 | +€18,049 | +69.1% |
| Suppliers | 440/4 | €26,130 | €44,179 | +€18,049 | +69.1% |
| Taxes, remuneration and social security | 45 | €4,891 | €203 | -€4,689 | -95.9% |
| Taxes | 450/3 | €4,891 | €203 | -€4,689 | -95.9% |
| Other amounts payable | 47/48 | €3,044,000 | €1,412,230 | -€1.6m | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,621 | €146,630 | +€7,009 | +5.0% |
| Other operating charges | 640/8 | €38,843 | €59,530 | +€20,687 | +53.3% |
| Gross operating margin | 9900 | €462,638 | €503,838 | +€41,200 | +8.9% |
| Operating profit (loss) | 9901 | €284,174 | €297,678 | +€13,504 | +4.8% |
| Financial income | 75/76B | €3,934,945 | €67,192 | -€3.9m | -98.3% |
| Recurring financial income | 75 | €1,473,187 | €67,192 | -€1.4m | -95.4% |
| Non-recurring financial income | 76B | €2,461,758 | - | -€2.5m | |
| Financial charges | 65/66B | €43,684 | €45,026 | +€1,342 | +3.1% |
| Recurring financial charges | 65 | €43,684 | €45,026 | +€1,342 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €4,175,435 | €319,844 | -€3.9m | -92.3% |
| Transfer from deferred taxes | 780 | €11,318 | €11,318 | = | 0.0% |
| Income taxes | 67/77 | €74,547 | €77,704 | +€3,156 | +4.2% |
| Profit (loss) for the period | 9904 | €4,112,205 | €253,458 | -€3.9m | -93.8% |
| Transfer from tax-exempt reserves | 789 | €33,953 | €33,953 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,146,159 | €287,411 | -€3.9m | -93.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.