AR/JUN: 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.
AR/JUN
Largest movements
- Stocks and contracts +€8,453
up €8,453 (+54.2%), from €15,605 to €24,058
- Receivables within one year +€3,096
up €3,096 (+20,643%), from €15 to €3,111
of which Trade receivables: +€2,280
- Intangible fixed assets -€800
down €800 (-21.3%), from €3,756 to €2,956
- Cash +€651
up €651 (+65.3%), from €996 to €1,647
mainly Debts after one year (+€29,436) and Depreciation (+€800)
- Debts after one year +€29,436
up €29,436 (+206%), from €14,261 to €43,697
- Profit (loss) carried forward -€16,003
down €16,003 (-39.2%), from -€40,844 to -€56,847
- Trade debts -€1,393
down €1,393 (-37.5%), from €3,715 to €2,322
- Tax, wage and social debts -€583
no longer reported in 2025 (was €583)
- Gross operating margin -€8,656
down €8,656 (-155%), from -€5,580 to -€14,236
- Depreciation +€556
up €556 (+228%), from €244 to €800
- Financial charges +€389
up €389 (+259%), from €150 to €539
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 | €21,376 | €32,772 | +€11,396 | +53.3% |
| Fixed assets | 21/28 | €4,706 | €3,906 | -€800 | -17.0% |
| Intangible fixed assets | 21 | €3,756 | €2,956 | -€800 | -21.3% |
| Tangible fixed assets | 22/27 | €950 | €950 | = | 0.0% |
| Furniture and vehicles | 24 | €950 | €950 | = | 0.0% |
| Current assets | 29/58 | €16,670 | €28,866 | +€12,196 | +73.2% |
| Stocks and contracts in progress | 3 | €15,605 | €24,058 | +€8,453 | +54.2% |
| Stocks | 30/36 | €15,605 | €24,058 | +€8,453 | +54.2% |
| Amounts receivable within one year | 40/41 | €15 | €3,111 | +€3,096 | +20,643% |
| Trade receivables | 40 | - | €2,280 | +€2,280 | |
| Other amounts receivable | 41 | €15 | €831 | +€816 | +5,443% |
| Cash at bank and in hand | 54/58 | €996 | €1,647 | +€651 | +65.3% |
| Deferred charges and accrued income | 490/1 | €54 | €50 | -€4 | -7.7% |
| Total equity and liabilities | 10/49 | €21,376 | €32,772 | +€11,396 | +53.3% |
| Equity | 10/15 | €2,756 | -€13,247 | -€16,003 | |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,844 | -€56,847 | -€16,003 | -39.2% |
| Amounts payable | 17/49 | €18,620 | €46,019 | +€27,399 | +147% |
| Amounts payable after more than one year | 17 | €14,261 | €43,697 | +€29,436 | +206% |
| Financial debts | 170/4 | €14,261 | €43,697 | +€29,436 | +206% |
| Amounts payable within one year | 42/48 | €4,359 | €2,322 | -€2,037 | -46.7% |
| Trade debts | 44 | €3,715 | €2,322 | -€1,393 | -37.5% |
| Suppliers | 440/4 | €3,715 | €2,322 | -€1,393 | -37.5% |
| Advances received on contracts in progress | 46 | €61 | - | -€61 | |
| Taxes, remuneration and social security | 45 | €583 | - | -€583 | |
| Taxes | 450/3 | €583 | - | -€583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244 | €800 | +€556 | +228% |
| Other operating charges | 640/8 | €424 | €400 | -€25 | -5.8% |
| Non-recurring operating charges | 66A | - | €63 | +€63 | |
| Gross operating margin | 9900 | -€5,580 | -€14,236 | -€8,656 | -155% |
| Operating profit (loss) | 9901 | -€6,248 | -€15,498 | -€9,250 | -148% |
| Financial income | 75/76B | €50 | €34 | -€15 | -30.9% |
| Recurring financial income | 75 | €50 | €34 | -€15 | -30.9% |
| Financial charges | 65/66B | €150 | €539 | +€389 | +259% |
| Recurring financial charges | 65 | €150 | €539 | +€389 | +259% |
| Profit (loss) for the period before taxes | 9903 | -€6,349 | -€16,003 | -€9,654 | -152% |
| Profit (loss) for the period | 9904 | -€6,349 | -€16,003 | -€9,654 | -152% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,349 | -€16,003 | -€9,654 | -152% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.