BALANCE: 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.
BALANCE
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Receivables within one year -€41,323
down €41,323 (-60.7%), from €68,051 to €26,729
- Cash +€17,505
up €17,505 (+14.3%), from €122,172 to €139,677
mainly Net result for the year (+€97,514) and Receivables within one year (+€41,323)
- Deferred charges and accrued income -€3,751
down €3,751 (-83.5%), from €4,492 to €741
- Reserves +€97,514
up €97,514 (+58.8%), from €165,737 to €263,252
- Tax, wage and social debts +€21,173
up €21,173 (+71.0%), from €29,816 to €50,989
- Gross operating margin +€47,018
up €47,018 (+59.0%), from €79,684 to €126,702
- Taxes +€11,690
up €11,690 (+69.8%), from €16,745 to €28,435
- Financial income +€2,707
new in 2025: €2,707
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 | €197,911 | €320,380 | +€122,469 | +61.9% |
| Fixed assets | 21/28 | €3,196 | €3,234 | +€38 | +1.2% |
| Tangible fixed assets | 22/27 | €3,196 | €3,234 | +€38 | +1.2% |
| Leasing and similar rights | 25 | €3,196 | €3,234 | +€38 | +1.2% |
| Current assets | 29/58 | €194,715 | €317,147 | +€122,431 | +62.9% |
| Amounts receivable within one year | 40/41 | €68,051 | €26,729 | -€41,323 | -60.7% |
| Trade receivables | 40 | €68,051 | €26,729 | -€41,323 | -60.7% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €122,172 | €139,677 | +€17,505 | +14.3% |
| Deferred charges and accrued income | 490/1 | €4,492 | €741 | -€3,751 | -83.5% |
| Total equity and liabilities | 10/49 | €197,911 | €320,380 | +€122,469 | +61.9% |
| Equity | 10/15 | €165,837 | €263,352 | +€97,514 | +58.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €165,737 | €263,252 | +€97,514 | +58.8% |
| Distributable reserves | 133 | €165,737 | €263,252 | +€97,514 | +58.8% |
| Amounts payable | 17/49 | €32,074 | €57,029 | +€24,955 | +77.8% |
| Amounts payable within one year | 42/48 | €32,074 | €57,029 | +€24,955 | +77.8% |
| Trade debts | 44 | €227 | €2,314 | +€2,087 | +921.2% |
| Suppliers | 440/4 | €227 | €2,314 | +€2,087 | +921.2% |
| Taxes, remuneration and social security | 45 | €29,816 | €50,989 | +€21,173 | +71.0% |
| Taxes | 450/3 | €29,816 | €50,989 | +€21,173 | +71.0% |
| Other amounts payable | 47/48 | €2,031 | €3,726 | +€1,695 | +83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,967 | €2,253 | +€286 | +14.6% |
| Other operating charges | 640/8 | €588 | €645 | +€57 | +9.7% |
| Gross operating margin | 9900 | €79,684 | €126,702 | +€47,018 | +59.0% |
| Operating profit (loss) | 9901 | €77,130 | €123,804 | +€46,674 | +60.5% |
| Financial income | 75/76B | - | €2,707 | +€2,707 | |
| Recurring financial income | 75 | - | €2,707 | +€2,707 | |
| Financial charges | 65/66B | €524 | €561 | +€37 | +7.1% |
| Recurring financial charges | 65 | €524 | €561 | +€37 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €76,606 | €125,950 | +€49,344 | +64.4% |
| Income taxes | 67/77 | €16,745 | €28,435 | +€11,690 | +69.8% |
| Profit (loss) for the period | 9904 | €59,861 | €97,514 | +€37,654 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €59,861 | €97,514 | +€37,654 | +62.9% |
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 6 October 2026 via checked.be.