august: 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.
august
Largest movements
- Tangible fixed assets +€474,856
up €474,856 (+51.4%), from €922,998 to €1.4m
of which Other tangible fixed assets: +€383,122
- Deferred charges and accrued income +€84,442
up €84,442 (+211.6%), from €39,902 to €124,344
- Cash +€57,767
up €57,767 (+26.0%), from €222,462 to €280,229
mainly Other debts (+€461,784) and Trade debts (+€320,212)
- Other debts +€461,784
up €461,784 (+192.2%), from €240,290 to €702,074
- Reserves -€460,252
down €460,252 (-81.2%), from €566,752 to €106,500
of which Distributable reserves: -€460,252
- Trade debts +€320,212
up €320,212 (+92.5%), from €346,088 to €666,300
- Profit (loss) carried forward +€133,508
up €133,508 (+1154.1%), from €11,569 to €145,076
- Current portion of long-term debt +€75,609
up €75,609 (+28.0%), from €269,978 to €345,587
- Depreciation +€127,963
up €127,963 (+217.8%), from €58,740 to €186,703
- Gross operating margin -€115,777
down €115,777 (-29.2%), from €395,968 to €280,191
- Staff costs +€60,401
up €60,401 (+20.6%), from €293,082 to €353,483
- Financial charges +€25,968
up €25,968 (+102.1%), from €25,443 to €51,411
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 | €2,111,209 | €2,766,249 | +€655,039 | +31.0% |
| Fixed assets | 21/28 | €955,386 | €1,435,242 | +€479,856 | +50.2% |
| Tangible fixed assets | 22/27 | €922,998 | €1,397,854 | +€474,856 | +51.4% |
| Plant, machinery and equipment | 23 | €781 | - | -€781 | |
| Furniture and vehicles | 24 | €81,573 | €174,089 | +€92,515 | +113.4% |
| Other tangible fixed assets | 26 | €840,644 | €1,223,766 | +€383,122 | +45.6% |
| Financial fixed assets | 28 | €32,387 | €37,387 | +€5,000 | +15.4% |
| Current assets | 29/58 | €1,155,824 | €1,331,007 | +€175,183 | +15.2% |
| Stocks and contracts in progress | 3 | €522,523 | €532,298 | +€9,776 | +1.9% |
| Stocks | 30/36 | €522,523 | €532,298 | +€9,776 | +1.9% |
| Amounts receivable within one year | 40/41 | €370,936 | €394,135 | +€23,199 | +6.3% |
| Trade receivables | 40 | €320,465 | €394,135 | +€73,670 | +23.0% |
| Other amounts receivable | 41 | €50,471 | - | -€50,471 | |
| Cash at bank and in hand | 54/58 | €222,462 | €280,229 | +€57,767 | +26.0% |
| Deferred charges and accrued income | 490/1 | €39,902 | €124,344 | +€84,442 | +211.6% |
| Total equity and liabilities | 10/49 | €2,111,209 | €2,766,249 | +€655,039 | +31.0% |
| Equity | 10/15 | €678,321 | €351,576 | -€326,745 | -48.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €566,752 | €106,500 | -€460,252 | -81.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €556,752 | €96,500 | -€460,252 | -82.7% |
| Profit (loss) carried forward | 14 | €11,569 | €145,076 | +€133,508 | +1154.1% |
| Amounts payable | 17/49 | €1,432,889 | €2,414,672 | +€981,784 | +68.5% |
| Amounts payable after more than one year | 17 | €524,362 | €567,473 | +€43,110 | +8.2% |
| Financial debts | 170/4 | €524,362 | €567,473 | +€43,110 | +8.2% |
| Amounts payable within one year | 42/48 | €908,526 | €1,847,200 | +€938,673 | +103.3% |
| Current portion of amounts payable after more than one year | 42 | €269,978 | €345,587 | +€75,609 | +28.0% |
| Trade debts | 44 | €346,088 | €666,300 | +€320,212 | +92.5% |
| Suppliers | 440/4 | €346,088 | €666,300 | +€320,212 | +92.5% |
| Advances received on contracts in progress | 46 | €10,486 | €54,741 | +€44,255 | +422.0% |
| Taxes, remuneration and social security | 45 | €41,685 | €78,498 | +€36,813 | +88.3% |
| Taxes | 450/3 | €30,949 | €68,918 | +€37,969 | +122.7% |
| Remuneration and social security | 454/9 | €10,735 | €9,580 | -€1,155 | -10.8% |
| Other amounts payable | 47/48 | €240,290 | €702,074 | +€461,784 | +192.2% |
| Remuneration, social security and pensions | 62 | €293,082 | €353,483 | +€60,401 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,740 | €186,703 | +€127,963 | +217.8% |
| Other operating charges | 640/8 | €8,222 | €7,657 | -€565 | -6.9% |
| Non-recurring operating charges | 66A | - | €7,698 | +€7,698 | |
| Gross operating margin | 9900 | €395,968 | €280,191 | -€115,777 | -29.2% |
| Operating profit (loss) | 9901 | €35,924 | -€275,350 | -€311,274 | |
| Financial income | 75/76B | €373 | €35 | -€337 | -90.6% |
| Recurring financial income | 75 | €373 | €35 | -€337 | -90.6% |
| Financial charges | 65/66B | €25,443 | €51,411 | +€25,968 | +102.1% |
| Recurring financial charges | 65 | €25,443 | €51,411 | +€25,968 | +102.1% |
| Profit (loss) for the period before taxes | 9903 | €10,854 | -€326,726 | -€337,580 | |
| Income taxes | 67/77 | €3,703 | €18 | -€3,685 | -99.5% |
| Profit (loss) for the period | 9904 | €7,150 | -€326,745 | -€333,895 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,150 | -€326,745 | -€333,895 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.