BALKO: 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.
BALKO
Largest movements
- Cash -€605,809
down €605,809 (-80.3%), from €754,810 to €149,000
- Current investments +€575,000
up €575,000 (+191.7%), from €300,000 to €875,000
- Stocks and contracts -€50,924
down €50,924 (-7.2%), from €711,252 to €660,328
- Receivables within one year +€40,587
up €40,587 (+7.8%), from €521,186 to €561,773
of which Trade receivables: +€98,774
- Deferred charges and accrued income +€32,271
new in 2025: €32,271
- Trade debts -€184,471
down €184,471 (-42.5%), from €434,029 to €249,559
- Short-term financial debts +€132,864
up €132,864 (+75.9%), from €175,000 to €307,864
- Accrued charges and deferred income +€46,176
up €46,176 (+48.5%), from €95,300 to €141,476
- Gross operating margin +€345,774
up €345,774 (+70.5%), from €490,406 to €836,180
- Staff costs +€264,147
up €264,147 (+72.0%), from €367,013 to €631,160
- Other operating charges +€56,790
up €56,790 (+623.5%), from €9,109 to €65,899
- Financial charges +€44,295
up €44,295 (+72.8%), from €60,839 to €105,134
- Financial income +€27,634
up €27,634 (+71.4%), from €38,705 to €66,340
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,686,516 | €2,688,696 | +€2,180 | +0.1% |
| Fixed assets | 21/28 | €49,268 | €60,324 | +€11,055 | +22.4% |
| Intangible fixed assets | 21 | €2,995 | €1,374 | -€1,621 | -54.1% |
| Tangible fixed assets | 22/27 | €46,133 | €58,809 | +€12,676 | +27.5% |
| Land and buildings | 22 | €17,490 | €15,008 | -€2,482 | -14.2% |
| Plant, machinery and equipment | 23 | €4,142 | €840 | -€3,302 | -79.7% |
| Furniture and vehicles | 24 | €2,504 | €3,589 | +€1,085 | +43.3% |
| Leasing and similar rights | 25 | €21,998 | €0 | -€21,998 | -100.0% |
| Other tangible fixed assets | 26 | - | €39,373 | +€39,373 | |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €2,637,248 | €2,628,372 | -€8,876 | -0.3% |
| Amounts receivable after more than one year | 29 | €350,000 | €350,000 | = | 0.0% |
| Other amounts receivable | 291 | €350,000 | €350,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €711,252 | €660,328 | -€50,924 | -7.2% |
| Stocks | 30/36 | €711,252 | €660,328 | -€50,924 | -7.2% |
| Amounts receivable within one year | 40/41 | €521,186 | €561,773 | +€40,587 | +7.8% |
| Trade receivables | 40 | €458,460 | €557,234 | +€98,774 | +21.5% |
| Other amounts receivable | 41 | €62,726 | €4,538 | -€58,188 | -92.8% |
| Current investments | 50/53 | €300,000 | €875,000 | +€575,000 | +191.7% |
| Cash at bank and in hand | 54/58 | €754,810 | €149,000 | -€605,809 | -80.3% |
| Deferred charges and accrued income | 490/1 | - | €32,271 | +€32,271 | |
| Total equity and liabilities | 10/49 | €2,686,516 | €2,688,696 | +€2,180 | +0.1% |
| Equity | 10/15 | €1,492,144 | €1,500,475 | +€8,330 | +0.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,367,144 | €1,375,475 | +€8,330 | +0.6% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €1,354,644 | €1,362,975 | +€8,330 | +0.6% |
| Amounts payable | 17/49 | €1,194,372 | €1,188,221 | -€6,151 | -0.5% |
| Amounts payable after more than one year | 17 | €284,493 | €278,350 | -€6,144 | -2.2% |
| Financial debts | 170/4 | €284,493 | €278,350 | -€6,144 | -2.2% |
| Amounts payable within one year | 42/48 | €814,578 | €768,396 | -€46,183 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €19,030 | €0 | -€19,030 | -100.0% |
| Financial debts | 43 | €175,000 | €307,864 | +€132,864 | +75.9% |
| Credit institutions | 430/8 | €175,000 | €307,864 | +€132,864 | +75.9% |
| Trade debts | 44 | €434,029 | €249,559 | -€184,471 | -42.5% |
| Suppliers | 440/4 | €434,029 | €249,559 | -€184,471 | -42.5% |
| Taxes, remuneration and social security | 45 | €78,927 | €87,745 | +€8,819 | +11.2% |
| Taxes | 450/3 | €25,461 | €21,599 | -€3,862 | -15.2% |
| Remuneration and social security | 454/9 | €53,466 | €66,146 | +€12,681 | +23.7% |
| Other amounts payable | 47/48 | €107,592 | €123,228 | +€15,636 | +14.5% |
| Accrued charges and deferred income | 492/3 | €95,300 | €141,476 | +€46,176 | +48.5% |
| Non-recurring operating income | 76A | €87,007 | - | -€87,007 | |
| Remuneration, social security and pensions | 62 | €367,013 | €631,160 | +€264,147 | +72.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,241 | €47,019 | +€10,778 | +29.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,093 | -€23,312 | -€20,220 | -653.8% |
| Other operating charges | 640/8 | €9,109 | €65,899 | +€56,790 | +623.5% |
| Non-recurring operating charges | 66A | - | €44,994 | +€44,994 | |
| Gross operating margin | 9900 | €490,406 | €836,180 | +€345,774 | +70.5% |
| Operating profit (loss) | 9901 | €81,136 | €70,420 | -€10,716 | -13.2% |
| Financial income | 75/76B | €38,705 | €66,340 | +€27,634 | +71.4% |
| Recurring financial income | 75 | €38,705 | €66,340 | +€27,634 | +71.4% |
| Financial charges | 65/66B | €60,839 | €105,134 | +€44,295 | +72.8% |
| Recurring financial charges | 65 | €60,839 | €105,134 | +€44,295 | +72.8% |
| Profit (loss) for the period before taxes | 9903 | €59,002 | €31,626 | -€27,377 | -46.4% |
| Income taxes | 67/77 | €21,102 | €23,295 | +€2,194 | +10.4% |
| Profit (loss) for the period | 9904 | €37,901 | €8,330 | -€29,570 | -78.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,901 | €8,330 | -€29,570 | -78.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.