ACTION ONE: 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.
ACTION ONE
Largest movements
- Tangible fixed assets -€22,359
down €22,359 (-16.9%), from €132,687 to €110,328
of which Leasing and similar rights: -€17,519
- Receivables within one year -€15,702
down €15,702 (-77.7%), from €20,208 to €4,506
of which Trade receivables: -€14,656
- Stocks and contracts -€5,392
down €5,392 (-17.1%), from €31,467 to €26,075
- Profit (loss) carried forward -€33,200
down €33,200 (-168%), from -€19,704 to -€52,904
- Trade debts -€22,545
down €22,545 (-37.1%), from €60,781 to €38,237
- Debts after one year -€12,173
down €12,173 (-15.4%), from €79,026 to €66,853
- Other debts +€11,460
up €11,460 (+25.7%), from €44,527 to €55,987
- Short-term financial debts +€7,647
new in 2025: €7,647
- Depreciation +€15,287
up €15,287 (+115%), from €13,314 to €28,601
- Gross operating margin +€8,888
up €8,888 (+578%), from €1,537 to €10,425
- Financial charges +€6,973
up €6,973 (+147%), from €4,749 to €11,721
- Other operating charges +€1,797
up €1,797 (+119%), from €1,508 to €3,306
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 | €196,366 | €152,031 | -€44,335 | -22.6% |
| Fixed assets | 21/28 | €138,777 | €116,418 | -€22,359 | -16.1% |
| Tangible fixed assets | 22/27 | €132,687 | €110,328 | -€22,359 | -16.9% |
| Plant, machinery and equipment | 23 | €13,868 | €9,968 | -€3,900 | -28.1% |
| Leasing and similar rights | 25 | €71,801 | €54,282 | -€17,519 | -24.4% |
| Other tangible fixed assets | 26 | €47,018 | €46,078 | -€940 | -2.0% |
| Financial fixed assets | 28 | €6,090 | €6,090 | = | 0.0% |
| Current assets | 29/58 | €57,588 | €35,613 | -€21,976 | -38.2% |
| Stocks and contracts in progress | 3 | €31,467 | €26,075 | -€5,392 | -17.1% |
| Stocks | 30/36 | €31,467 | €26,075 | -€5,392 | -17.1% |
| Amounts receivable within one year | 40/41 | €20,208 | €4,506 | -€15,702 | -77.7% |
| Trade receivables | 40 | €15,548 | €892 | -€14,656 | -94.3% |
| Other amounts receivable | 41 | €4,660 | €3,614 | -€1,046 | -22.4% |
| Cash at bank and in hand | 54/58 | €4,722 | €2,766 | -€1,956 | -41.4% |
| Deferred charges and accrued income | 490/1 | €1,191 | €2,265 | +€1,074 | +90.2% |
| Total equity and liabilities | 10/49 | €196,366 | €152,031 | -€44,335 | -22.6% |
| Equity | 10/15 | -€11,644 | -€44,844 | -€33,200 | -285% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,704 | -€52,904 | -€33,200 | -168% |
| Amounts payable | 17/49 | €208,009 | €196,875 | -€11,135 | -5.4% |
| Amounts payable after more than one year | 17 | €79,026 | €66,853 | -€12,173 | -15.4% |
| Financial debts | 170/4 | €79,026 | €66,853 | -€12,173 | -15.4% |
| Amounts payable within one year | 42/48 | €126,412 | €127,521 | +€1,109 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €20,095 | €23,983 | +€3,889 | +19.4% |
| Financial debts | 43 | - | €7,647 | +€7,647 | |
| Credit institutions | 430/8 | - | €7,647 | +€7,647 | |
| Trade debts | 44 | €60,781 | €38,237 | -€22,545 | -37.1% |
| Suppliers | 440/4 | €60,781 | €38,237 | -€22,545 | -37.1% |
| Taxes, remuneration and social security | 45 | €1,010 | €1,667 | +€658 | +65.1% |
| Taxes | 450/3 | €1,010 | €1,667 | +€658 | +65.1% |
| Other amounts payable | 47/48 | €44,527 | €55,987 | +€11,460 | +25.7% |
| Accrued charges and deferred income | 492/3 | €2,571 | €2,500 | -€71 | -2.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,314 | €28,601 | +€15,287 | +115% |
| Other operating charges | 640/8 | €1,508 | €3,306 | +€1,797 | +119% |
| Gross operating margin | 9900 | €1,537 | €10,425 | +€8,888 | +578% |
| Operating profit (loss) | 9901 | -€13,285 | -€21,481 | -€8,196 | -61.7% |
| Financial income | 75/76B | €3 | €3 | = | 0.0% |
| Recurring financial income | 75 | €3 | €3 | = | 0.0% |
| Financial charges | 65/66B | €4,749 | €11,721 | +€6,973 | +147% |
| Recurring financial charges | 65 | €4,749 | €11,721 | +€6,973 | +147% |
| Profit (loss) for the period before taxes | 9903 | -€18,031 | -€33,200 | -€15,169 | -84.1% |
| Profit (loss) for the period | 9904 | -€18,031 | -€33,200 | -€15,169 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,031 | -€33,200 | -€15,169 | -84.1% |
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 18 October 2026 via checked.be.