AHEAD: what changed
Two fiscal 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.
AHEAD
Largest movements
- Receivables within one year +€15,889
up €15,889 (+23.9%), from €66,406 to €82,296
of which Other amounts receivable: +€12,515
- Tangible fixed assets -€8,909
down €8,909 (-5.9%), from €151,880 to €142,971
of which Land and buildings: -€6,215
- Cash -€6,929
down €6,929 (-53.0%), from €13,067 to €6,138
mainly Receivables within one year (-€15,889) and Debts after one year (-€9,600)
- Debts after one year -€9,600
down €9,600 (-9.6%), from €100,337 to €90,737
of which Financial debts: -€9,600
- Reserves +€6,900
up €6,900 (+73.7%), from €9,359 to €16,259
of which Distributable reserves: +€6,900
- Trade debts +€3,582
up €3,582 (+5632.4%), from €64 to €3,646
- Gross operating margin -€3,394
down €3,394 (-12.8%), from €26,549 to €23,155
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.
Cash bridge derived
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 | €232,433 | €231,404 | -€1,029 | -0.4% |
| Fixed assets | 21/28 | €151,880 | €142,971 | -€8,909 | -5.9% |
| Tangible fixed assets | 22/27 | €151,880 | €142,971 | -€8,909 | -5.9% |
| Land and buildings | 22 | €142,638 | €136,424 | -€6,215 | -4.4% |
| Plant, machinery and equipment | 23 | €898 | €658 | -€240 | -26.7% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €8,344 | €5,890 | -€2,454 | -29.4% |
| Current assets | 29/58 | €80,553 | €88,433 | +€7,880 | +9.8% |
| Amounts receivable within one year | 40/41 | €66,406 | €82,296 | +€15,889 | +23.9% |
| Trade receivables | 40 | €8,497 | €11,871 | +€3,374 | +39.7% |
| Other amounts receivable | 41 | €57,910 | €70,425 | +€12,515 | +21.6% |
| Cash at bank and in hand | 54/58 | €13,067 | €6,138 | -€6,929 | -53.0% |
| Deferred charges and accrued income | 490/1 | €1,080 | €0 | -€1,080 | -100.0% |
| Total equity and liabilities | 10/49 | €232,433 | €231,404 | -€1,029 | -0.4% |
| Equity | 10/15 | €119,297 | €126,296 | +€6,998 | +5.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9,359 | €16,259 | +€6,900 | +73.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €7,500 | €14,400 | +€6,900 | +92.0% |
| Profit (loss) carried forward | 14 | €91,346 | €91,444 | +€98 | +0.1% |
| Amounts payable | 17/49 | €113,136 | €105,109 | -€8,027 | -7.1% |
| Amounts payable after more than one year | 17 | €100,337 | €90,737 | -€9,600 | -9.6% |
| Financial debts | 170/4 | €99,262 | €89,662 | -€9,600 | -9.7% |
| Other amounts payable | 178/9 | €1,075 | €1,075 | = | 0.0% |
| Amounts payable within one year | 42/48 | €12,799 | €14,372 | +€1,573 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €10,402 | €10,402 | = | 0.0% |
| Trade debts | 44 | €64 | €3,646 | +€3,582 | +5632.4% |
| Suppliers | 440/4 | €64 | €3,646 | +€3,582 | +5632.4% |
| Taxes, remuneration and social security | 45 | €2,334 | €324 | -€2,009 | -86.1% |
| Taxes | 450/3 | €2,334 | €324 | -€2,009 | -86.1% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,124 | €8,909 | -€215 | -2.4% |
| Other operating charges | 640/8 | €2,308 | €2,405 | +€97 | +4.2% |
| Non-recurring operating charges | 66A | €170 | €252 | +€82 | +48.4% |
| Gross operating margin | 9900 | €26,549 | €23,155 | -€3,394 | -12.8% |
| Operating profit (loss) | 9901 | €14,947 | €11,589 | -€3,358 | -22.5% |
| Financial charges | 65/66B | €507 | €542 | +€35 | +6.8% |
| Recurring financial charges | 65 | €507 | €542 | +€35 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €14,440 | €11,047 | -€3,393 | -23.5% |
| Income taxes | 67/77 | €4,162 | €4,049 | -€113 | -2.7% |
| Profit (loss) for the period | 9904 | €10,278 | €6,998 | -€3,280 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,278 | €6,998 | -€3,280 | -31.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.