ANDRE SEBASTIEN: 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.
ANDRE SEBASTIEN
Largest movements
- Cash -€24,015
down €24,015 (-62.4%), from €38,484 to €14,469
mainly Net result for the year (-€20,251) and Current portion of long-term debt (-€7,786)
- Tangible fixed assets -€8,568
down €8,568 (-19.7%), from €43,400 to €34,832
- Receivables within one year +€2,465
up €2,465 (+60.7%), from €4,063 to €6,529
of which Trade receivables: +€3,959
- Reserves -€20,251
down €20,251 (-34.6%), from €58,589 to €38,337
- Current portion of long-term debt -€7,786
no longer reported in 2025 (was €7,786)
- Other debts -€2,213
down €2,213 (-64.6%), from €3,424 to €1,211
- Gross operating margin -€12,764
down €12,764, from €2,324 to -€10,440
- Depreciation -€3,699
down €3,699 (-30.2%), from €12,267 to €8,568
- Financial charges -€376
down €376 (-32.5%), from €1,157 to €782
- Other operating charges -€320
down €320 (-22.3%), from €1,432 to €1,112
- Financial income +€148
up €148 (+23.1%), from €643 to €792
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 | €87,990 | €57,760 | -€30,230 | -34.4% |
| Fixed assets | 21/28 | €43,400 | €34,832 | -€8,568 | -19.7% |
| Tangible fixed assets | 22/27 | €43,400 | €34,832 | -€8,568 | -19.7% |
| Land and buildings | 22 | €29,138 | €26,394 | -€2,745 | -9.4% |
| Plant, machinery and equipment | 23 | €11,588 | €8,439 | -€3,150 | -27.2% |
| Furniture and vehicles | 24 | €2,674 | - | -€2,674 | |
| Current assets | 29/58 | €44,589 | €22,928 | -€21,662 | -48.6% |
| Amounts receivable within one year | 40/41 | €4,063 | €6,529 | +€2,465 | +60.7% |
| Trade receivables | 40 | €1,545 | €5,504 | +€3,959 | +256.2% |
| Other amounts receivable | 41 | €2,518 | €1,024 | -€1,494 | -59.3% |
| Cash at bank and in hand | 54/58 | €38,484 | €14,469 | -€24,015 | -62.4% |
| Deferred charges and accrued income | 490/1 | €2,042 | €1,930 | -€112 | -5.5% |
| Total equity and liabilities | 10/49 | €87,990 | €57,760 | -€30,230 | -34.4% |
| Equity | 10/15 | €70,989 | €50,737 | -€20,251 | -28.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €58,589 | €38,337 | -€20,251 | -34.6% |
| Distributable reserves | 133 | €58,589 | €38,337 | -€20,251 | -34.6% |
| Amounts payable | 17/49 | €17,001 | €7,023 | -€9,978 | -58.7% |
| Amounts payable within one year | 42/48 | €17,001 | €7,023 | -€9,978 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €7,786 | - | -€7,786 | |
| Trade debts | 44 | €1,791 | €1,856 | +€65 | +3.6% |
| Suppliers | 440/4 | €1,791 | €1,856 | +€65 | +3.6% |
| Taxes, remuneration and social security | 45 | €4,000 | €3,955 | -€44 | -1.1% |
| Taxes | 450/3 | €1,400 | €1,355 | -€44 | -3.2% |
| Remuneration and social security | 454/9 | €2,600 | €2,600 | = | 0.0% |
| Other amounts payable | 47/48 | €3,424 | €1,211 | -€2,213 | -64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,267 | €8,568 | -€3,699 | -30.2% |
| Other operating charges | 640/8 | €1,432 | €1,112 | -€320 | -22.3% |
| Gross operating margin | 9900 | €2,324 | -€10,440 | -€12,764 | |
| Operating profit (loss) | 9901 | -€11,374 | -€20,120 | -€8,746 | -76.9% |
| Financial income | 75/76B | €643 | €792 | +€148 | +23.1% |
| Recurring financial income | 75 | €643 | €792 | +€148 | +23.1% |
| Financial charges | 65/66B | €1,157 | €782 | -€376 | -32.5% |
| Recurring financial charges | 65 | €1,157 | €782 | -€376 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,888 | -€20,110 | -€8,222 | -69.2% |
| Income taxes | 67/77 | €134 | €141 | +€7 | +5.4% |
| Profit (loss) for the period | 9904 | -€12,022 | -€20,251 | -€8,229 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,022 | -€20,251 | -€8,229 | -68.5% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.