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 -€209,595
down €209,595 (-34.7%), from €603,808 to €394,212
of which Trade receivables: -€107,889
- Stocks and contracts -€59,672
down €59,672 (-45.9%), from €130,018 to €70,347
- Tangible fixed assets -€36,330
down €36,330 (-21.6%), from €168,539 to €132,208
- Cash +€12,696
up €12,696 (+20.9%), from €60,863 to €73,559
mainly Receivables within one year (+€209,595) and Stocks and contracts (+€59,672)
- Other debts -€140,301
down €140,301 (-32.3%), from €433,766 to €293,466
- Profit (loss) carried forward -€121,312
down €121,312 (-15.2%), from -€800,005 to -€921,317
- Debts after one year -€22,706
down €22,706 (-24.9%), from €91,143 to €68,437
- Current portion of long-term debt -€10,261
down €10,261 (-31.1%), from €32,968 to €22,706
- Gross operating margin -€379,675
down €379,675 (-99.5%), from €381,479 to €1,803
- Other operating charges -€133,930
down €133,930 (-93.5%), from €143,313 to €9,383
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 | €969,253 | €671,925 | -€297,328 | -30.7% |
| Fixed assets | 21/28 | €168,697 | €132,367 | -€36,330 | -21.5% |
| Tangible fixed assets | 22/27 | €168,539 | €132,208 | -€36,330 | -21.6% |
| Plant, machinery and equipment | 23 | €2,663 | €1,045 | -€1,617 | -60.7% |
| Furniture and vehicles | 24 | €38,440 | €21,812 | -€16,628 | -43.3% |
| Other tangible fixed assets | 26 | €127,436 | €109,351 | -€18,085 | -14.2% |
| Financial fixed assets | 28 | €159 | €159 | = | 0.0% |
| Current assets | 29/58 | €800,555 | €539,558 | -€260,998 | -32.6% |
| Stocks and contracts in progress | 3 | €130,018 | €70,347 | -€59,672 | -45.9% |
| Stocks | 30/36 | €130,018 | €70,347 | -€59,672 | -45.9% |
| Amounts receivable within one year | 40/41 | €603,808 | €394,212 | -€209,595 | -34.7% |
| Trade receivables | 40 | €501,766 | €393,878 | -€107,889 | -21.5% |
| Other amounts receivable | 41 | €102,041 | €335 | -€101,706 | -99.7% |
| Current investments | 50/53 | €5 | €0 | -€5 | -100.0% |
| Cash at bank and in hand | 54/58 | €60,863 | €73,559 | +€12,696 | +20.9% |
| Deferred charges and accrued income | 490/1 | €5,862 | €1,440 | -€4,422 | -75.4% |
| Total equity and liabilities | 10/49 | €969,253 | €671,925 | -€297,328 | -30.7% |
| Equity | 10/15 | €279,781 | €158,469 | -€121,312 | -43.4% |
| Contributions | 10/11 | €1,027,631 | €1,027,631 | = | 0.0% |
| Capital | 10 | €1,027,631 | €1,027,631 | = | 0.0% |
| Issued capital | 100 | €1,027,631 | €1,027,631 | = | 0.0% |
| Reserves | 13 | €52,155 | €52,155 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,487 | €1,487 | = | 0.0% |
| Legal reserve | 130 | €1,487 | €1,487 | = | 0.0% |
| Tax-exempt reserves | 132 | €50,326 | €50,326 | = | 0.0% |
| Distributable reserves | 133 | €341 | €341 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€800,005 | -€921,317 | -€121,312 | -15.2% |
| Amounts payable | 17/49 | €689,471 | €513,456 | -€176,016 | -25.5% |
| Amounts payable after more than one year | 17 | €91,143 | €68,437 | -€22,706 | -24.9% |
| Financial debts | 170/4 | €91,143 | €68,437 | -€22,706 | -24.9% |
| Amounts payable within one year | 42/48 | €577,200 | €432,695 | -€144,505 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €32,968 | €22,706 | -€10,261 | -31.1% |
| Financial debts | 43 | €74,057 | €74,208 | +€151 | +0.2% |
| Credit institutions | 430/8 | €74,057 | €74,208 | +€151 | +0.2% |
| Trade debts | 44 | €7,190 | €15,554 | +€8,364 | +116.3% |
| Suppliers | 440/4 | €7,190 | €15,554 | +€8,364 | +116.3% |
| Taxes, remuneration and social security | 45 | €29,220 | €26,761 | -€2,459 | -8.4% |
| Taxes | 450/3 | €24,099 | €20,838 | -€3,261 | -13.5% |
| Remuneration and social security | 454/9 | €5,121 | €5,923 | +€802 | +15.7% |
| Other amounts payable | 47/48 | €433,766 | €293,466 | -€140,301 | -32.3% |
| Accrued charges and deferred income | 492/3 | €21,128 | €12,324 | -€8,804 | -41.7% |
| Remuneration, social security and pensions | 62 | €56,734 | €60,545 | +€3,811 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,629 | €37,803 | +€174 | +0.5% |
| Other operating charges | 640/8 | €143,313 | €9,383 | -€133,930 | -93.5% |
| Gross operating margin | 9900 | €381,479 | €1,803 | -€379,675 | -99.5% |
| Operating profit (loss) | 9901 | €143,802 | -€105,927 | -€249,729 | |
| Financial income | 75/76B | €3,700 | €3,524 | -€176 | -4.8% |
| Recurring financial income | 75 | €3,700 | €3,524 | -€176 | -4.8% |
| Financial charges | 65/66B | €16,632 | €18,715 | +€2,083 | +12.5% |
| Recurring financial charges | 65 | €16,632 | €18,715 | +€2,083 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €130,870 | -€121,118 | -€251,988 | |
| Income taxes | 67/77 | €149 | €194 | +€45 | +30.4% |
| Profit (loss) for the period | 9904 | €130,721 | -€121,312 | -€252,033 | |
| Profit (loss) for the period to be appropriated | 9905 | €130,721 | -€121,312 | -€252,033 |
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 6 October 2026 via checked.be.