Anne Massij: 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.
Anne Massij
Largest movements
- Cash +€182,309
up €182,309 (+105%), from €173,003 to €355,312
mainly Net result for the year (+€186,377) and Other debts (+€31,347)
- Receivables after one year +€78,400
up €78,400 (+21.6%), from €363,600 to €442,000
- Receivables within one year -€30,660
down €30,660 (-98.5%), from €31,120 to €461
- Reserves +€186,377
up €186,377 (+56.4%), from €330,371 to €516,748
- Other debts +€31,347
up €31,347 (+11.9%), from €264,093 to €295,440
- Tax, wage and social debts +€10,965
new in 2025: €10,965
- Accrued charges and deferred income +€8,675
up €8,675 (+135%), from €6,415 to €15,089
- Gross operating margin +€301,611
up €301,611, from -€36,911 to €264,700
- Taxes +€67,784
up €67,784 (+37,468%), from €181 to €67,965
- Financial charges +€8,690
up €8,690 (+102%), from €8,502 to €17,192
- Financial income +€5,960
up €5,960 (+161%), from €3,711 to €9,671
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.
Derived cash bridge
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 | €581,696 | €817,999 | +€236,303 | +40.6% |
| Fixed assets | 21/28 | €8,723 | €8,675 | -€48 | -0.6% |
| Tangible fixed assets | 22/27 | €8,723 | €8,675 | -€48 | -0.6% |
| Land and buildings | 22 | €7,648 | €8,145 | +€497 | +6.5% |
| Furniture and vehicles | 24 | €1,076 | €530 | -€545 | -50.7% |
| Current assets | 29/58 | €572,973 | €809,324 | +€236,351 | +41.2% |
| Amounts receivable after more than one year | 29 | €363,600 | €442,000 | +€78,400 | +21.6% |
| Other amounts receivable | 291 | €363,600 | €442,000 | +€78,400 | +21.6% |
| Amounts receivable within one year | 40/41 | €31,120 | €461 | -€30,660 | -98.5% |
| Other amounts receivable | 41 | €31,120 | €461 | -€30,660 | -98.5% |
| Cash at bank and in hand | 54/58 | €173,003 | €355,312 | +€182,309 | +105% |
| Deferred charges and accrued income | 490/1 | €5,249 | €11,551 | +€6,302 | +120% |
| Total equity and liabilities | 10/49 | €581,696 | €817,999 | +€236,303 | +40.6% |
| Equity | 10/15 | €306,573 | €492,950 | +€186,377 | +60.8% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €330,371 | €516,748 | +€186,377 | +56.4% |
| Distributable reserves | 133 | €330,371 | €516,748 | +€186,377 | +56.4% |
| Profit (loss) carried forward | 14 | -€44,203 | -€44,203 | = | 0.0% |
| Amounts payable | 17/49 | €275,123 | €325,049 | +€49,926 | +18.1% |
| Amounts payable within one year | 42/48 | €268,709 | €309,960 | +€41,251 | +15.4% |
| Trade debts | 44 | €4,616 | €3,555 | -€1,061 | -23.0% |
| Suppliers | 440/4 | €4,616 | €3,555 | -€1,061 | -23.0% |
| Taxes, remuneration and social security | 45 | - | €10,965 | +€10,965 | |
| Taxes | 450/3 | - | €10,965 | +€10,965 | |
| Other amounts payable | 47/48 | €264,093 | €295,440 | +€31,347 | +11.9% |
| Accrued charges and deferred income | 492/3 | €6,415 | €15,089 | +€8,675 | +135% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,210 | €2,545 | +€335 | +15.2% |
| Other operating charges | 640/8 | €109 | €291 | +€182 | +167% |
| Gross operating margin | 9900 | -€36,911 | €264,700 | +€301,611 | |
| Operating profit (loss) | 9901 | -€39,231 | €261,863 | +€301,094 | |
| Financial income | 75/76B | €3,711 | €9,671 | +€5,960 | +161% |
| Recurring financial income | 75 | €3,711 | €9,671 | +€5,960 | +161% |
| Financial charges | 65/66B | €8,502 | €17,192 | +€8,690 | +102% |
| Recurring financial charges | 65 | €8,502 | €17,192 | +€8,690 | +102% |
| Profit (loss) for the period before taxes | 9903 | -€44,022 | €254,342 | +€298,364 | |
| Income taxes | 67/77 | €181 | €67,965 | +€67,784 | +37,468% |
| Profit (loss) for the period | 9904 | -€44,203 | €186,377 | +€230,580 | |
| Profit (loss) for the period to be appropriated | 9905 | -€44,203 | €186,377 | +€230,580 |
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 26 October 2026 via checked.be.