ACTIVIT: 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.
ACTIVIT
Largest movements
- Tangible fixed assets -€64,296
down €64,296 (-14.7%), from €436,420 to €372,124
of which Plant, machinery and equipment: -€43,242
- Intangible fixed assets -€24,180
down €24,180 (-26.4%), from €91,709 to €67,529
- Receivables within one year -€11,285
down €11,285 (-73.4%), from €15,383 to €4,098
of which Trade receivables: -€11,176
- Debts after one year -€96,618
down €96,618 (-23.7%), from €407,940 to €311,321
- Current portion of long-term debt +€96,618
new in 2025: €96,618
- Short-term financial debts -€85,646
down €85,646 (-91.1%), from €94,062 to €8,416
- Other debts +€39,337
up €39,337 (+130%), from €30,362 to €69,699
- Trade debts -€36,080
down €36,080 (-49.6%), from €72,672 to €36,592
- Gross operating margin +€56,400
up €56,400 (+49.9%), from €113,087 to €169,487
- Depreciation +€12,855
up €12,855 (+12.4%), from €103,740 to €116,595
- Staff costs +€9,134
up €9,134 (+23.5%), from €38,849 to €47,983
- Financial charges -€4,728
down €4,728 (-14.9%), from €31,767 to €27,039
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 | €549,329 | €445,516 | -€103,813 | -18.9% |
| Fixed assets | 21/28 | €528,139 | €439,663 | -€88,476 | -16.8% |
| Intangible fixed assets | 21 | €91,709 | €67,529 | -€24,180 | -26.4% |
| Tangible fixed assets | 22/27 | €436,420 | €372,124 | -€64,296 | -14.7% |
| Plant, machinery and equipment | 23 | €162,440 | €119,198 | -€43,242 | -26.6% |
| Furniture and vehicles | 24 | €9,795 | €23,883 | +€14,088 | +144% |
| Other tangible fixed assets | 26 | €264,185 | €229,042 | -€35,142 | -13.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €21,191 | €5,853 | -€15,337 | -72.4% |
| Stocks and contracts in progress | 3 | €3,912 | €1,045 | -€2,867 | -73.3% |
| Stocks | 30/36 | €3,912 | €1,045 | -€2,867 | -73.3% |
| Amounts receivable within one year | 40/41 | €15,383 | €4,098 | -€11,285 | -73.4% |
| Trade receivables | 40 | €14,750 | €3,574 | -€11,176 | -75.8% |
| Other amounts receivable | 41 | €633 | €524 | -€109 | -17.2% |
| Cash at bank and in hand | 54/58 | €150 | €92 | -€58 | -38.9% |
| Deferred charges and accrued income | 490/1 | €1,746 | €619 | -€1,127 | -64.5% |
| Total equity and liabilities | 10/49 | €549,329 | €445,516 | -€103,813 | -18.9% |
| Equity | 10/15 | -€71,809 | -€96,144 | -€24,336 | -33.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,809 | -€221,144 | -€24,336 | -12.4% |
| Amounts payable | 17/49 | €621,138 | €541,661 | -€79,477 | -12.8% |
| Amounts payable after more than one year | 17 | €407,940 | €311,321 | -€96,618 | -23.7% |
| Financial debts | 170/4 | €407,940 | €311,321 | -€96,618 | -23.7% |
| Amounts payable within one year | 42/48 | €213,175 | €230,156 | +€16,981 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | - | €96,618 | +€96,618 | |
| Financial debts | 43 | €94,062 | €8,416 | -€85,646 | -91.1% |
| Credit institutions | 430/8 | €94,062 | €8,416 | -€85,646 | -91.1% |
| Trade debts | 44 | €72,672 | €36,592 | -€36,080 | -49.6% |
| Suppliers | 440/4 | €72,672 | €36,592 | -€36,080 | -49.6% |
| Taxes, remuneration and social security | 45 | €16,079 | €18,831 | +€2,752 | +17.1% |
| Taxes | 450/3 | €5,162 | €3,995 | -€1,167 | -22.6% |
| Remuneration and social security | 454/9 | €10,917 | €14,836 | +€3,919 | +35.9% |
| Other amounts payable | 47/48 | €30,362 | €69,699 | +€39,337 | +130% |
| Accrued charges and deferred income | 492/3 | €24 | €184 | +€160 | +679% |
| Remuneration, social security and pensions | 62 | €38,849 | €47,983 | +€9,134 | +23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,740 | €116,595 | +€12,855 | +12.4% |
| Other operating charges | 640/8 | €1,644 | €2,107 | +€463 | +28.2% |
| Gross operating margin | 9900 | €113,087 | €169,487 | +€56,400 | +49.9% |
| Operating profit (loss) | 9901 | -€31,145 | €2,802 | +€33,948 | |
| Financial income | 75/76B | €9 | €4 | -€5 | -57.0% |
| Recurring financial income | 75 | €9 | €4 | -€5 | -57.0% |
| Financial charges | 65/66B | €31,767 | €27,039 | -€4,728 | -14.9% |
| Recurring financial charges | 65 | €31,767 | €27,039 | -€4,728 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€62,903 | -€24,233 | +€38,670 | +61.5% |
| Income taxes | 67/77 | - | €103 | +€103 | |
| Profit (loss) for the period | 9904 | -€62,903 | -€24,336 | +€38,567 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,903 | -€24,336 | +€38,567 | +61.3% |
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.