A.R. MANAGEMENT: 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.R. MANAGEMENT
Largest movements
- Cash +€54,530
up €54,530 (+51.2%), from €106,453 to €160,983
mainly Other debts (+€47,889) and Net result for the year (+€27,138)
- Receivables within one year -€24,772
down €24,772 (-60.0%), from €41,276 to €16,504
of which Trade receivables: -€26,719
- Tangible fixed assets -€5,250
down €5,250 (-19.8%), from €26,514 to €21,264
of which Furniture and vehicles: -€6,770
- Other debts +€47,889
up €47,889 (+39.2%), from €122,174 to €170,064
- Reserves -€20,734
down €20,734 (-91.8%), from €22,594 to €1,860
of which Distributable reserves: -€20,734
- Accrued charges and deferred income -€5,840
no longer reported in 2025 (was €5,840)
- Gross operating margin -€6,768
down €6,768 (-13.7%), from €49,323 to €42,555
- Financial charges -€5,916
down €5,916 (-98.7%), from €5,992 to €77
- Taxes -€1,947
down €1,947 (-22.2%), from €8,769 to €6,822
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 | €179,175 | €201,163 | +€21,988 | +12.3% |
| Fixed assets | 21/28 | €28,909 | €22,416 | -€6,493 | -22.5% |
| Intangible fixed assets | 21 | €2,395 | €1,152 | -€1,243 | -51.9% |
| Tangible fixed assets | 22/27 | €26,514 | €21,264 | -€5,250 | -19.8% |
| Plant, machinery and equipment | 23 | €1,247 | €799 | -€448 | -35.9% |
| Furniture and vehicles | 24 | €25,267 | €18,497 | -€6,770 | -26.8% |
| Other tangible fixed assets | 26 | - | €1,967 | +€1,967 | |
| Current assets | 29/58 | €150,266 | €178,747 | +€28,481 | +19.0% |
| Amounts receivable within one year | 40/41 | €41,276 | €16,504 | -€24,772 | -60.0% |
| Trade receivables | 40 | €40,045 | €13,326 | -€26,719 | -66.7% |
| Other amounts receivable | 41 | €1,231 | €3,178 | +€1,947 | +158% |
| Cash at bank and in hand | 54/58 | €106,453 | €160,983 | +€54,530 | +51.2% |
| Deferred charges and accrued income | 490/1 | €2,537 | €1,260 | -€1,277 | -50.3% |
| Total equity and liabilities | 10/49 | €179,175 | €201,163 | +€21,988 | +12.3% |
| Equity | 10/15 | €41,194 | €20,460 | -€20,734 | -50.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,594 | €1,860 | -€20,734 | -91.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,734 | - | -€20,734 | |
| Amounts payable | 17/49 | €137,981 | €180,703 | +€42,722 | +31.0% |
| Amounts payable within one year | 42/48 | €132,141 | €180,703 | +€48,562 | +36.7% |
| Trade debts | 44 | €1,207 | - | -€1,207 | |
| Suppliers | 440/4 | €1,207 | - | -€1,207 | |
| Taxes, remuneration and social security | 45 | €8,760 | €10,639 | +€1,880 | +21.5% |
| Taxes | 450/3 | €8,760 | €10,639 | +€1,880 | +21.5% |
| Other amounts payable | 47/48 | €122,174 | €170,064 | +€47,889 | +39.2% |
| Accrued charges and deferred income | 492/3 | €5,840 | - | -€5,840 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,641 | €8,519 | -€121 | -1.4% |
| Gross operating margin | 9900 | €49,323 | €42,555 | -€6,768 | -13.7% |
| Operating profit (loss) | 9901 | €40,682 | €34,036 | -€6,646 | -16.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -70.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -70.0% |
| Financial charges | 65/66B | €5,992 | €77 | -€5,916 | -98.7% |
| Recurring financial charges | 65 | €5,992 | €77 | -€5,916 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | €34,690 | €33,959 | -€731 | -2.1% |
| Income taxes | 67/77 | €8,769 | €6,822 | -€1,947 | -22.2% |
| Profit (loss) for the period | 9904 | €25,921 | €27,138 | +€1,217 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,921 | €27,138 | +€1,217 | +4.7% |
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 14 October 2026 via checked.be.