A GREAT STEP FORWARD: what changed
Two financial 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 GREAT STEP FORWARD
Largest movements
- Tangible fixed assets +€694,491
up €694,491 (+259%), from €268,130 to €962,621
of which Land and buildings: +€628,887
- Cash +€620,218
up €620,218 (+1,186%), from €52,298 to €672,516
mainly Net result for the year (+€821,909) and Debts after one year (+€298,089)
- Receivables within one year +€88,591
up €88,591 (+44.0%), from €201,450 to €290,041
of which Other amounts receivable: +€82,620
- Reserves +€821,862
up €821,862 (+176%), from €467,500 to €1.3m
of which Tax-exempt reserves: +€728,862
- Debts after one year +€298,089
up €298,089 (+469%), from €63,596 to €361,685
- Provisions +€242,954
new in 2025: €242,954
- Current portion of long-term debt +€50,681
up €50,681 (+148%), from €34,167 to €84,848
- Financial income +€990,764
up €990,764 (+13,801%), from €7,179 to €997,943
of which Non-recurring financial income: +€990,764
- Taxes -€41,105
down €41,105 (-50.0%), from €82,212 to €41,107
- Financial charges +€22,339
up €22,339 (+325%), from €6,872 to €29,211
of which Financial charges: +€15,288
- Gross operating margin -€20,786
down €20,786 (-10.0%), from €208,800 to €188,014
- Other operating charges +€8,924
up €8,924 (+157%), from €5,673 to €14,597
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.
Derived cash bridge
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 | €791,878 | €2,195,178 | +€1.4m | +177% |
| Fixed assets | 21/28 | €268,130 | €962,621 | +€694,491 | +259% |
| Tangible fixed assets | 22/27 | €268,130 | €962,621 | +€694,491 | +259% |
| Land and buildings | 22 | €136,342 | €765,229 | +€628,887 | +461% |
| Plant, machinery and equipment | 23 | €49,089 | €36,356 | -€12,733 | -25.9% |
| Furniture and vehicles | 24 | €82,699 | €69,670 | -€13,029 | -15.8% |
| Other tangible fixed assets | 26 | - | €91,366 | +€91,366 | |
| Current assets | 29/58 | €523,748 | €1,232,557 | +€708,809 | +135% |
| Amounts receivable after more than one year | 29 | €270,000 | €270,000 | = | 0.0% |
| Trade receivables | 290 | €270,000 | €270,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €201,450 | €290,041 | +€88,591 | +44.0% |
| Trade receivables | 40 | €4,981 | €10,952 | +€5,971 | +120% |
| Other amounts receivable | 41 | €196,469 | €279,089 | +€82,620 | +42.1% |
| Cash at bank and in hand | 54/58 | €52,298 | €672,516 | +€620,218 | +1,186% |
| Total equity and liabilities | 10/49 | €791,878 | €2,195,178 | +€1.4m | +177% |
| Equity | 10/15 | €647,177 | €1,469,086 | +€821,909 | +127% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €467,500 | €1,289,362 | +€821,862 | +176% |
| Non-distributable reserves | 130/1 | €2,500 | - | -€2,500 | |
| Reserves not available under the articles | 1311 | €2,500 | - | -€2,500 | |
| Tax-exempt reserves | 132 | - | €728,862 | +€728,862 | |
| Distributable reserves | 133 | €465,000 | €560,500 | +€95,500 | +20.5% |
| Profit (loss) carried forward | 14 | €154,677 | €154,724 | +€47 | 0.0% |
| Provisions and deferred taxes | 16 | - | €242,954 | +€242,954 | |
| Deferred taxes | 168 | - | €242,954 | +€242,954 | |
| Amounts payable | 17/49 | €144,701 | €483,138 | +€338,437 | +234% |
| Amounts payable after more than one year | 17 | €63,596 | €361,685 | +€298,089 | +469% |
| Financial debts | 170/4 | €63,596 | €361,685 | +€298,089 | +469% |
| Amounts payable within one year | 42/48 | €81,105 | €121,453 | +€40,348 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €34,167 | €84,848 | +€50,681 | +148% |
| Trade debts | 44 | - | €8,091 | +€8,091 | |
| Suppliers | 440/4 | - | €8,091 | +€8,091 | |
| Taxes, remuneration and social security | 45 | €46,938 | €28,514 | -€18,424 | -39.3% |
| Taxes | 450/3 | €46,938 | €28,514 | -€18,424 | -39.3% |
| Turnover | 70 | €302,737 | €306,785 | +€4,048 | +1.3% |
| Non-recurring operating income | 76A | €21,535 | - | -€21,535 | |
| Goods, raw materials, services and sundry goods | 60/61 | €115,473 | €118,771 | +€3,298 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,102 | €36,179 | +€1,077 | +3.1% |
| Other operating charges | 640/8 | €5,673 | €14,597 | +€8,924 | +157% |
| Gross operating margin | 9900 | €208,800 | €188,014 | -€20,786 | -10.0% |
| Operating profit (loss) | 9901 | €168,025 | €137,238 | -€30,787 | -18.3% |
| Financial income | 75/76B | €7,179 | €997,943 | +€990,764 | +13,801% |
| Recurring financial income | 75 | €7,179 | €7,179 | = | 0.0% |
| Non-recurring financial income | 76B | - | €990,764 | +€990,764 | |
| Financial charges | 65/66B | €6,872 | €29,211 | +€22,339 | +325% |
| Recurring financial charges | 65 | €6,872 | €22,160 | +€15,288 | +222% |
| Non-recurring financial charges | 66B | - | €7,051 | +€7,051 | |
| Profit (loss) for the period before taxes | 9903 | €168,332 | €1,105,970 | +€937,638 | +557% |
| Transfer from deferred taxes | 780 | - | €4,737 | +€4,737 | |
| Transfer to deferred taxes | 680 | - | €247,691 | +€247,691 | |
| Income taxes | 67/77 | €82,212 | €41,107 | -€41,105 | -50.0% |
| Profit (loss) for the period | 9904 | €86,120 | €821,909 | +€735,789 | +854% |
| Transfer from tax-exempt reserves | 789 | - | €14,211 | +€14,211 | |
| Transfer to tax-exempt reserves | 689 | - | €743,073 | +€743,073 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,120 | €93,047 | +€6,927 | +8.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.