Alison Cloet: 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.
Alison Cloet
Largest movements
- Tangible fixed assets +€13,101
up €13,101 (+106.1%), from €12,350 to €25,452
of which Plant, machinery and equipment: +€12,538
- Receivables within one year +€6,279
up €6,279 (+45.9%), from €13,689 to €19,969
of which Other amounts receivable: +€6,767
- Cash -€721
down €721 (-6.1%), from €11,773 to €11,052
mainly Investment in fixed assets (net) (-€15,935) and Tax, wage and social debts (-€6,682)
- Deferred charges and accrued income -€706
down €706 (-44.3%), from €1,594 to €888
- Reserves +€21,528
up €21,528 (+138.9%), from €15,500 to €37,028
- Tax, wage and social debts -€6,682
down €6,682 (-85.3%), from €7,832 to €1,150
- Debts after one year +€6,248
up €6,248 (+118.3%), from €5,281 to €11,529
- Trade debts -€4,170
no longer reported in 2025 (was €4,170)
- Accrued charges and deferred income +€721
up €721 (+701.6%), from €103 to €823
- Gross operating margin +€9,126
up €9,126 (+35.5%), from €25,673 to €34,799
- Taxes +€2,145
up €2,145 (+32.1%), from €6,682 to €8,827
- Depreciation +€976
up €976 (+49.3%), from €1,977 to €2,953
- Financial charges +€373
up €373 (+138.0%), from €270 to €643
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 | €39,526 | €57,360 | +€17,834 | +45.1% |
| Fixed assets | 21/28 | €12,470 | €25,452 | +€12,982 | +104.1% |
| Intangible fixed assets | 21 | €119 | - | -€119 | |
| Tangible fixed assets | 22/27 | €12,350 | €25,452 | +€13,101 | +106.1% |
| Plant, machinery and equipment | 23 | €9,676 | €22,214 | +€12,538 | +129.6% |
| Furniture and vehicles | 24 | €2,674 | €3,237 | +€563 | +21.1% |
| Current assets | 29/58 | €27,056 | €31,909 | +€4,852 | +17.9% |
| Amounts receivable within one year | 40/41 | €13,689 | €19,969 | +€6,279 | +45.9% |
| Trade receivables | 40 | €9,001 | €8,513 | -€488 | -5.4% |
| Other amounts receivable | 41 | €4,689 | €11,456 | +€6,767 | +144.3% |
| Cash at bank and in hand | 54/58 | €11,773 | €11,052 | -€721 | -6.1% |
| Deferred charges and accrued income | 490/1 | €1,594 | €888 | -€706 | -44.3% |
| Total equity and liabilities | 10/49 | €39,526 | €57,360 | +€17,834 | +45.1% |
| Equity | 10/15 | €17,604 | €39,133 | +€21,528 | +122.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €15,500 | €37,028 | +€21,528 | +138.9% |
| Distributable reserves | 133 | €15,500 | €37,028 | +€21,528 | +138.9% |
| Profit (loss) carried forward | 14 | €104 | €104 | = | 0.0% |
| Amounts payable | 17/49 | €21,922 | €18,228 | -€3,694 | -16.9% |
| Amounts payable after more than one year | 17 | €5,281 | €11,529 | +€6,248 | +118.3% |
| Financial debts | 170/4 | €5,281 | €11,529 | +€6,248 | +118.3% |
| Amounts payable within one year | 42/48 | €16,538 | €5,875 | -€10,663 | -64.5% |
| Current portion of amounts payable after more than one year | 42 | €3,703 | €3,866 | +€163 | +4.4% |
| Trade debts | 44 | €4,170 | - | -€4,170 | |
| Suppliers | 440/4 | €4,170 | - | -€4,170 | |
| Taxes, remuneration and social security | 45 | €7,832 | €1,150 | -€6,682 | -85.3% |
| Taxes | 450/3 | €7,832 | €1,150 | -€6,682 | -85.3% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Accrued charges and deferred income | 492/3 | €103 | €823 | +€721 | +701.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,977 | €2,953 | +€976 | +49.3% |
| Other operating charges | 640/8 | €434 | €387 | -€47 | -10.8% |
| Gross operating margin | 9900 | €25,673 | €34,799 | +€9,126 | +35.5% |
| Operating profit (loss) | 9901 | €23,262 | €31,459 | +€8,197 | +35.2% |
| Financial income | 75/76B | €127 | €398 | +€271 | +212.7% |
| Recurring financial income | 75 | €127 | €398 | +€271 | +212.7% |
| Financial charges | 65/66B | €270 | €643 | +€373 | +138.0% |
| Recurring financial charges | 65 | €270 | €643 | +€373 | +138.0% |
| Profit (loss) for the period before taxes | 9903 | €23,119 | €31,214 | +€8,095 | +35.0% |
| Income taxes | 67/77 | €6,682 | €8,827 | +€2,145 | +32.1% |
| Profit (loss) for the period | 9904 | €16,437 | €22,387 | +€5,950 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,437 | €22,387 | +€5,950 | +36.2% |
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 7 October 2026 via checked.be.