ACTIVO: 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.
ACTIVO
Largest movements
- Cash +€195,828
up €195,828 (+7.0%), from €2.8m to €3.0m
mainly Other debts (+€416,531) and Net result for the year (+€95,526)
- Receivables within one year -€73,369
down €73,369 (-29.7%), from €246,793 to €173,424
of which Trade receivables: -€174,021
- Other debts +€416,531
up €416,531 (+34.7%), from €1.2m to €1.6m
- Reserves -€292,174
down €292,174 (-17.3%), from €1.7m to €1.4m
of which Distributable reserves: -€292,174
- Accrued charges and deferred income +€53,498
up €53,498 (+96.0%), from €55,723 to €109,221
- Tax, wage and social debts -€34,292
down €34,292 (-48.5%), from €70,741 to €36,449
of which Taxes: -€34,637
- Gross operating margin -€151,678
down €151,678 (-25.3%), from €599,601 to €447,923
- Write-downs +€150,118
new in 2025: €150,118
- Taxes -€116,180
down €116,180 (-74.6%), from €155,640 to €39,460
- Financial charges +€53,301
up €53,301 (+94.2%), from €56,604 to €109,905
- Depreciation +€11,300
up €11,300 (+86.2%), from €13,112 to €24,412
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 | €3,128,563 | €3,264,611 | +€136,048 | +4.3% |
| Fixed assets | 21/28 | €90,495 | €105,383 | +€14,888 | +16.5% |
| Tangible fixed assets | 22/27 | €90,495 | €105,383 | +€14,888 | +16.5% |
| Plant, machinery and equipment | 23 | €11,794 | €23,976 | +€12,182 | +103% |
| Furniture and vehicles | 24 | €77,309 | €59,914 | -€17,395 | -22.5% |
| Other tangible fixed assets | 26 | €1,392 | €21,493 | +€20,101 | +1,444% |
| Current assets | 29/58 | €3,038,068 | €3,159,228 | +€121,160 | +4.0% |
| Amounts receivable within one year | 40/41 | €246,793 | €173,424 | -€73,369 | -29.7% |
| Trade receivables | 40 | €246,755 | €72,733 | -€174,021 | -70.5% |
| Other amounts receivable | 41 | €38 | €100,691 | +€100,652 | +262,937% |
| Cash at bank and in hand | 54/58 | €2,781,773 | €2,977,601 | +€195,828 | +7.0% |
| Deferred charges and accrued income | 490/1 | €9,501 | €8,202 | -€1,299 | -13.7% |
| Total equity and liabilities | 10/49 | €3,128,563 | €3,264,611 | +€136,048 | +4.3% |
| Equity | 10/15 | €1,790,258 | €1,498,084 | -€292,174 | -16.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,690,258 | €1,398,084 | -€292,174 | -17.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,680,258 | €1,388,084 | -€292,174 | -17.4% |
| Amounts payable | 17/49 | €1,338,305 | €1,766,527 | +€428,222 | +32.0% |
| Amounts payable within one year | 42/48 | €1,282,582 | €1,657,306 | +€374,724 | +29.2% |
| Financial debts | 43 | €76 | - | -€76 | |
| Credit institutions | 430/8 | €76 | - | -€76 | |
| Trade debts | 44 | €11,147 | €3,707 | -€7,439 | -66.7% |
| Suppliers | 440/4 | €11,147 | €3,707 | -€7,439 | -66.7% |
| Taxes, remuneration and social security | 45 | €70,741 | €36,449 | -€34,292 | -48.5% |
| Taxes | 450/3 | €61,988 | €27,350 | -€34,637 | -55.9% |
| Remuneration and social security | 454/9 | €8,753 | €9,099 | +€346 | +3.9% |
| Other amounts payable | 47/48 | €1,200,618 | €1,617,149 | +€416,531 | +34.7% |
| Accrued charges and deferred income | 492/3 | €55,723 | €109,221 | +€53,498 | +96.0% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Remuneration, social security and pensions | 62 | €74,970 | €77,596 | +€2,626 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,112 | €24,412 | +€11,300 | +86.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €150,118 | +€150,118 | |
| Other operating charges | 640/8 | €1,667 | €1,730 | +€63 | +3.8% |
| Gross operating margin | 9900 | €599,601 | €447,923 | -€151,678 | -25.3% |
| Operating profit (loss) | 9901 | €509,852 | €194,067 | -€315,784 | -61.9% |
| Financial income | 75/76B | €50,278 | €50,823 | +€545 | +1.1% |
| Recurring financial income | 75 | €50,278 | €50,823 | +€545 | +1.1% |
| Financial charges | 65/66B | €56,604 | €109,905 | +€53,301 | +94.2% |
| Recurring financial charges | 65 | €56,604 | €109,905 | +€53,301 | +94.2% |
| Profit (loss) for the period before taxes | 9903 | €503,526 | €134,986 | -€368,540 | -73.2% |
| Income taxes | 67/77 | €155,640 | €39,460 | -€116,180 | -74.6% |
| Profit (loss) for the period | 9904 | €347,886 | €95,526 | -€252,360 | -72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €347,886 | €95,526 | -€252,360 | -72.5% |
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 19 October 2026 via checked.be.