ALL MANAGEMENT: 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.
ALL MANAGEMENT
Largest movements
- Cash -€3,804
down €3,804 (-46.4%), from €8,193 to €4,389
mainly Net result for the year (-€52,154) and Investment in fixed assets (net) (-€34,850)
- Tangible fixed assets -€3,803
down €3,803 (-1.9%), from €197,551 to €193,748
of which Land and buildings: -€10,855
- Other debts +€66,585
up €66,585 (+19.8%), from €335,987 to €402,572
- Profit (loss) carried forward -€52,154
down €52,154 (-11.0%), from -€474,654 to -€526,808
- Trade debts -€13,512
down €13,512 (-73.3%), from €18,423 to €4,911
- Debts after one year -€10,238
no longer reported in 2025 (was €10,238)
- Gross operating margin -€16,548
down €16,548 (-29.2%), from €56,708 to €40,160
- Staff costs -€9,724
down €9,724 (-25.9%), from €37,501 to €27,778
- Depreciation +€7,819
up €7,819 (+25.4%), from €30,834 to €38,653
- Other operating charges +€7,276
up €7,276 (+47.0%), from €15,489 to €22,766
- Financial income +€924
up €924 (+191.6%), from €482 to €1,406
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 | €254,623 | €247,756 | -€6,867 | -2.7% |
| Fixed assets | 21/28 | €198,855 | €195,052 | -€3,803 | -1.9% |
| Tangible fixed assets | 22/27 | €197,551 | €193,748 | -€3,803 | -1.9% |
| Land and buildings | 22 | €89,223 | €78,369 | -€10,855 | -12.2% |
| Plant, machinery and equipment | 23 | €75,950 | €75,477 | -€472 | -0.6% |
| Furniture and vehicles | 24 | €32,378 | €39,902 | +€7,524 | +23.2% |
| Financial fixed assets | 28 | €1,304 | €1,304 | = | 0.0% |
| Current assets | 29/58 | €55,768 | €52,703 | -€3,065 | -5.5% |
| Amounts receivable within one year | 40/41 | €41,799 | €42,653 | +€854 | +2.0% |
| Trade receivables | 40 | €41,799 | €42,653 | +€854 | +2.0% |
| Cash at bank and in hand | 54/58 | €8,193 | €4,389 | -€3,804 | -46.4% |
| Deferred charges and accrued income | 490/1 | €5,776 | €5,662 | -€115 | -2.0% |
| Total equity and liabilities | 10/49 | €254,623 | €247,756 | -€6,867 | -2.7% |
| Equity | 10/15 | -€136,815 | -€188,969 | -€52,154 | -38.1% |
| Contributions | 10/11 | €327,219 | €327,219 | = | 0.0% |
| Capital | 10 | €327,219 | €327,219 | = | 0.0% |
| Issued capital | 100 | €327,219 | €327,219 | = | 0.0% |
| Reserves | 13 | €10,620 | €10,620 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,620 | €10,620 | = | 0.0% |
| Legal reserve | 130 | €10,620 | €10,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€474,654 | -€526,808 | -€52,154 | -11.0% |
| Amounts payable | 17/49 | €391,438 | €436,724 | +€45,286 | +11.6% |
| Amounts payable after more than one year | 17 | €10,238 | - | -€10,238 | |
| Financial debts | 170/4 | €10,238 | - | -€10,238 | |
| Amounts payable within one year | 42/48 | €381,200 | €436,724 | +€55,524 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €16,878 | €16,883 | +€5 | 0.0% |
| Trade debts | 44 | €18,423 | €4,911 | -€13,512 | -73.3% |
| Suppliers | 440/4 | €18,423 | €4,911 | -€13,512 | -73.3% |
| Advances received on contracts in progress | 46 | €1,350 | €1,350 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,562 | €11,008 | +€2,446 | +28.6% |
| Taxes | 450/3 | €4,524 | €3,877 | -€648 | -14.3% |
| Remuneration and social security | 454/9 | €4,038 | €7,131 | +€3,094 | +76.6% |
| Other amounts payable | 47/48 | €335,987 | €402,572 | +€66,585 | +19.8% |
| Remuneration, social security and pensions | 62 | €37,501 | €27,778 | -€9,724 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,834 | €38,653 | +€7,819 | +25.4% |
| Other operating charges | 640/8 | €15,489 | €22,766 | +€7,276 | +47.0% |
| Gross operating margin | 9900 | €56,708 | €40,160 | -€16,548 | -29.2% |
| Operating profit (loss) | 9901 | -€27,116 | -€49,036 | -€21,920 | -80.8% |
| Financial income | 75/76B | €482 | €1,406 | +€924 | +191.6% |
| Recurring financial income | 75 | €482 | €1,406 | +€924 | +191.6% |
| Financial charges | 65/66B | €3,943 | €4,021 | +€78 | +2.0% |
| Recurring financial charges | 65 | €3,943 | €4,021 | +€78 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,577 | -€51,650 | -€21,073 | -68.9% |
| Income taxes | 67/77 | €517 | €503 | -€14 | -2.7% |
| Profit (loss) for the period | 9904 | -€31,094 | -€52,154 | -€21,059 | -67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,094 | -€52,154 | -€21,059 | -67.7% |
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 2 October 2026 via checked.be.