Belief: 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.
Belief
Largest movements
- Cash +€126,847
up €126,847 (+168.2%), from €75,423 to €202,270
mainly Current investments (+€70,000) and Net result for the year (+€66,318)
- Current investments -€70,000
down €70,000 (-100.0%), from €70,000 to €0
- Tangible fixed assets -€11,649
down €11,649 (-25.0%), from €46,510 to €34,861
- Reserves +€66,318
up €66,318 (+45.1%), from €147,112 to €213,430
- Debts after one year -€14,428
down €14,428 (-100.0%), from €14,428 to €0
- Tax, wage and social debts -€5,767
down €5,767 (-19.6%), from €29,358 to €23,591
of which Taxes: -€5,767
- Gross operating margin -€17,959
down €17,959 (-16.3%), from €110,042 to €92,083
- Financial income +€4,815
up €4,815 (+1174314.6%), from €0 to €4,815
- Taxes -€3,083
down €3,083 (-15.1%), from €20,401 to €17,318
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 | €213,570 | €259,147 | +€45,578 | +21.3% |
| Fixed assets | 21/28 | €46,601 | €34,952 | -€11,649 | -25.0% |
| Tangible fixed assets | 22/27 | €46,510 | €34,861 | -€11,649 | -25.0% |
| Furniture and vehicles | 24 | €46,510 | €34,861 | -€11,649 | -25.0% |
| Financial fixed assets | 28 | €91 | €91 | = | 0.0% |
| Current assets | 29/58 | €166,969 | €224,196 | +€57,226 | +34.3% |
| Amounts receivable within one year | 40/41 | €19,547 | €19,258 | -€289 | -1.5% |
| Trade receivables | 40 | €19,547 | €19,258 | -€289 | -1.5% |
| Current investments | 50/53 | €70,000 | €0 | -€70,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €75,423 | €202,270 | +€126,847 | +168.2% |
| Deferred charges and accrued income | 490/1 | €1,999 | €2,668 | +€669 | +33.5% |
| Total equity and liabilities | 10/49 | €213,570 | €259,147 | +€45,578 | +21.3% |
| Equity | 10/15 | €152,112 | €218,430 | +€66,318 | +43.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €147,112 | €213,430 | +€66,318 | +45.1% |
| Distributable reserves | 133 | €147,112 | €213,430 | +€66,318 | +45.1% |
| Amounts payable | 17/49 | €61,458 | €40,718 | -€20,741 | -33.7% |
| Amounts payable after more than one year | 17 | €14,428 | €0 | -€14,428 | -100.0% |
| Financial debts | 170/4 | €14,428 | €0 | -€14,428 | -100.0% |
| Amounts payable within one year | 42/48 | €47,030 | €39,647 | -€7,383 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €13,996 | €14,428 | +€432 | +3.1% |
| Trade debts | 44 | €1,552 | €898 | -€655 | -42.2% |
| Suppliers | 440/4 | €1,552 | €898 | -€655 | -42.2% |
| Taxes, remuneration and social security | 45 | €29,358 | €23,591 | -€5,767 | -19.6% |
| Taxes | 450/3 | €29,358 | €23,591 | -€5,767 | -19.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,124 | €730 | -€1,394 | -65.6% |
| Accrued charges and deferred income | 492/3 | €0 | €1,071 | +€1,071 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,649 | €11,649 | +€0 | 0.0% |
| Other operating charges | 640/8 | €688 | €862 | +€174 | +25.3% |
| Gross operating margin | 9900 | €110,042 | €92,083 | -€17,959 | -16.3% |
| Operating profit (loss) | 9901 | €97,706 | €79,573 | -€18,133 | -18.6% |
| Financial income | 75/76B | €0 | €4,815 | +€4,815 | +1174314.6% |
| Recurring financial income | 75 | €0 | €4,815 | +€4,815 | +1174314.6% |
| Financial charges | 65/66B | €1,652 | €752 | -€900 | -54.5% |
| Recurring financial charges | 65 | €1,652 | €752 | -€900 | -54.5% |
| Profit (loss) for the period before taxes | 9903 | €96,054 | €83,636 | -€12,418 | -12.9% |
| Income taxes | 67/77 | €20,401 | €17,318 | -€3,083 | -15.1% |
| Profit (loss) for the period | 9904 | €75,653 | €66,318 | -€9,335 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €75,653 | €66,318 | -€9,335 | -12.3% |
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 9 October 2026 via checked.be.