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 +€107,250
up €107,250 (+83.8%), from €127,962 to €235,212
of which Trade receivables: +€56,793
- Trade debts +€55,064
up €55,064 (+97.3%), from €56,583 to €111,647
- Reserves +€51,844
up €51,844 (+98.6%), from €52,567 to €104,411
of which Distributable reserves: +€51,844
- Debts after one year -€7,143
down €7,143 (-44.2%), from €16,173 to €9,030
- Tax, wage and social debts +€6,691
up €6,691 (+10.7%), from €62,637 to €69,328
- Other debts -€3,534
no longer reported in 2025 (was €3,534)
- Gross operating margin +€27,714
up €27,714 (+42.7%), from €64,973 to €92,687
- Financial charges +€7,548
up €7,548 (+138.3%), from €5,459 to €13,007
- Taxes +€2,418
up €2,418 (+13.9%), from €17,364 to €19,782
- Other operating charges +€2,095
up €2,095 (+73.9%), from €2,837 to €4,931
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €234,635 | €340,261 | +€105,625 | +45.0% |
| Fixed assets | 21/28 | €106,674 | €105,049 | -€1,625 | -1.5% |
| Tangible fixed assets | 22/27 | €6,674 | €4,699 | -€1,975 | -29.6% |
| Furniture and vehicles | 24 | €6,674 | €4,699 | -€1,975 | -29.6% |
| Financial fixed assets | 28 | €100,000 | €100,350 | +€350 | +0.4% |
| Current assets | 29/58 | €127,962 | €235,212 | +€107,250 | +83.8% |
| Amounts receivable within one year | 40/41 | €127,962 | €235,212 | +€107,250 | +83.8% |
| Trade receivables | 40 | €42,921 | €99,713 | +€56,793 | +132.3% |
| Other amounts receivable | 41 | €85,041 | €135,499 | +€50,458 | +59.3% |
| Total equity and liabilities | 10/49 | €234,635 | €340,261 | +€105,625 | +45.0% |
| Equity | 10/15 | €71,167 | €123,011 | +€51,844 | +72.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,567 | €104,411 | +€51,844 | +98.6% |
| 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 | €50,707 | €102,551 | +€51,844 | +102.2% |
| Amounts payable | 17/49 | €163,468 | €217,249 | +€53,781 | +32.9% |
| Amounts payable after more than one year | 17 | €16,173 | €9,030 | -€7,143 | -44.2% |
| Financial debts | 170/4 | €16,173 | €9,030 | -€7,143 | -44.2% |
| Amounts payable within one year | 42/48 | €147,295 | €208,219 | +€60,924 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €22,627 | €22,241 | -€386 | -1.7% |
| Financial debts | 43 | €1,914 | €5,003 | +€3,089 | +161.4% |
| Credit institutions | 430/8 | €1,914 | €5,003 | +€3,089 | +161.4% |
| Trade debts | 44 | €56,583 | €111,647 | +€55,064 | +97.3% |
| Suppliers | 440/4 | €56,583 | €111,647 | +€55,064 | +97.3% |
| Taxes, remuneration and social security | 45 | €62,637 | €69,328 | +€6,691 | +10.7% |
| Taxes | 450/3 | €62,637 | €69,328 | +€6,691 | +10.7% |
| Other amounts payable | 47/48 | €3,534 | - | -€3,534 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,933 | €3,123 | +€190 | +6.5% |
| Other operating charges | 640/8 | €2,837 | €4,931 | +€2,095 | +73.9% |
| Gross operating margin | 9900 | €64,973 | €92,687 | +€27,714 | +42.7% |
| Operating profit (loss) | 9901 | €59,203 | €84,633 | +€25,430 | +43.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,459 | €13,007 | +€7,548 | +138.3% |
| Recurring financial charges | 65 | €5,459 | €13,007 | +€7,548 | +138.3% |
| Profit (loss) for the period before taxes | 9903 | €53,744 | €71,626 | +€17,883 | +33.3% |
| Income taxes | 67/77 | €17,364 | €19,782 | +€2,418 | +13.9% |
| Profit (loss) for the period | 9904 | €36,379 | €51,844 | +€15,464 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,379 | €51,844 | +€15,464 | +42.5% |
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 5 October 2026 via checked.be.