AT38: 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.
AT38
Largest movements
- Cash -€28,040
down €28,040 (-79.4%), from €35,336 to €7,296
mainly Tax, wage and social debts (-€17,105) and Other debts (-€11,770)
- Receivables within one year -€4,770
down €4,770 (-13.7%), from €34,733 to €29,963
of which Other amounts receivable: -€2,771
- Tax, wage and social debts -€17,105
down €17,105 (-69.3%), from €24,677 to €7,572
of which Taxes: -€18,399
- Other debts -€11,770
down €11,770 (-98.1%), from €12,000 to €230
- Profit (loss) carried forward -€8,178
down €8,178, from €7,997 to -€181
- Short-term financial debts +€5,000
new in 2025: €5,000
- Trade debts -€1,374
down €1,374 (-37.4%), from €3,674 to €2,300
- Staff costs +€74,741
up €74,741 (+48.0%), from €155,555 to €230,296
- Gross operating margin +€46,730
up €46,730 (+26.1%), from €178,729 to €225,458
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 | €75,349 | €41,921 | -€33,428 | -44.4% |
| Fixed assets | 21/28 | €4,252 | €3,622 | -€630 | -14.8% |
| Tangible fixed assets | 22/27 | €4,252 | €3,622 | -€630 | -14.8% |
| Plant, machinery and equipment | 23 | €1,681 | €1,399 | -€282 | -16.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €2,571 | €2,223 | -€348 | -13.5% |
| Current assets | 29/58 | €71,097 | €38,299 | -€32,798 | -46.1% |
| Amounts receivable within one year | 40/41 | €34,733 | €29,963 | -€4,770 | -13.7% |
| Trade receivables | 40 | €31,963 | €29,963 | -€2,000 | -6.3% |
| Other amounts receivable | 41 | €2,771 | €0 | -€2,771 | -100% |
| Cash at bank and in hand | 54/58 | €35,336 | €7,296 | -€28,040 | -79.4% |
| Deferred charges and accrued income | 490/1 | €1,028 | €1,040 | +€12 | +1.2% |
| Total equity and liabilities | 10/49 | €75,349 | €41,921 | -€33,428 | -44.4% |
| Equity | 10/15 | €25,997 | €17,819 | -€8,178 | -31.5% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,997 | -€181 | -€8,178 | |
| Amounts payable | 17/49 | €49,351 | €24,101 | -€25,250 | -51.2% |
| Amounts payable after more than one year | 17 | €9,000 | €9,000 | = | 0.0% |
| Financial debts | 170/4 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,351 | €15,101 | -€25,250 | -62.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €5,000 | +€5,000 | |
| Credit institutions | 430/8 | - | €5,000 | +€5,000 | |
| Trade debts | 44 | €3,674 | €2,300 | -€1,374 | -37.4% |
| Suppliers | 440/4 | €3,674 | €2,300 | -€1,374 | -37.4% |
| Taxes, remuneration and social security | 45 | €24,677 | €7,572 | -€17,105 | -69.3% |
| Taxes | 450/3 | €24,677 | €6,278 | -€18,399 | -74.6% |
| Remuneration and social security | 454/9 | €0 | €1,294 | +€1,294 | |
| Other amounts payable | 47/48 | €12,000 | €230 | -€11,770 | -98.1% |
| Remuneration, social security and pensions | 62 | €155,555 | €230,296 | +€74,741 | +48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €801 | €1,150 | +€349 | +43.5% |
| Other operating charges | 640/8 | €747 | €766 | +€19 | +2.5% |
| Gross operating margin | 9900 | €178,729 | €225,458 | +€46,730 | +26.1% |
| Operating profit (loss) | 9901 | €21,625 | -€6,753 | -€28,379 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -42.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -42.9% |
| Financial charges | 65/66B | €1,231 | €1,283 | +€52 | +4.2% |
| Recurring financial charges | 65 | €1,231 | €1,283 | +€52 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €20,394 | -€8,036 | -€28,431 | |
| Income taxes | 67/77 | €1,640 | €141 | -€1,498 | -91.4% |
| Profit (loss) for the period | 9904 | €18,755 | -€8,178 | -€26,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,755 | -€8,178 | -€26,933 |
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 14 October 2026 via checked.be.