BOX 3: 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.
BOX 3
Largest movements
- Receivables within one year -€37,728
down €37,728 (-60.1%), from €62,772 to €25,044
of which Trade receivables: -€29,984
- Tangible fixed assets -€25,261
down €25,261 (-30.1%), from €83,869 to €58,608
of which Furniture and vehicles: -€22,623
- Deferred charges and accrued income -€2,216
down €2,216 (-51.5%), from €4,305 to €2,088
- Profit (loss) carried forward -€117,097
down €117,097 (-104.9%), from -€111,632 to -€228,729
- Other debts +€88,305
up €88,305 (+454.1%), from €19,447 to €107,752
- Short-term financial debts -€24,043
down €24,043 (-31.7%), from €75,878 to €51,836
- Debts after one year -€17,644
down €17,644 (-22.6%), from €77,941 to €60,298
of which Financial debts: -€17,644
- Tax, wage and social debts +€2,521
up €2,521 (+20.2%), from €12,472 to €14,994
of which Taxes: +€2,864
- Gross operating margin -€70,754
down €70,754 (-89.7%), from €78,912 to €8,158
- Other operating charges -€58,205
down €58,205 (-95.7%), from €60,819 to €2,614
- Staff costs -€3,635
down €3,635 (-3.8%), from €96,854 to €93,219
- Financial income +€3,263
up €3,263 (+334.6%), from €975 to €4,239
- Depreciation -€2,183
down €2,183 (-8.0%), from €27,444 to €25,261
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,114 | €85,910 | -€65,205 | -43.1% |
| Fixed assets | 21/28 | €84,038 | €58,778 | -€25,261 | -30.1% |
| Tangible fixed assets | 22/27 | €83,869 | €58,608 | -€25,261 | -30.1% |
| Furniture and vehicles | 24 | €72,033 | €49,410 | -€22,623 | -31.4% |
| Other tangible fixed assets | 26 | €11,836 | €9,198 | -€2,638 | -22.3% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €67,076 | €27,132 | -€39,944 | -59.6% |
| Amounts receivable within one year | 40/41 | €62,772 | €25,044 | -€37,728 | -60.1% |
| Trade receivables | 40 | €55,028 | €25,044 | -€29,984 | -54.5% |
| Other amounts receivable | 41 | €7,744 | - | -€7,744 | |
| Deferred charges and accrued income | 490/1 | €4,305 | €2,088 | -€2,216 | -51.5% |
| Total equity and liabilities | 10/49 | €151,114 | €85,910 | -€65,205 | -43.1% |
| Equity | 10/15 | -€90,232 | -€207,329 | -€117,097 | -129.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,800 | €2,800 | = | 0.0% |
| Distributable reserves | 133 | €2,800 | €2,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,632 | -€228,729 | -€117,097 | -104.9% |
| Amounts payable | 17/49 | €241,346 | €293,239 | +€51,892 | +21.5% |
| Amounts payable after more than one year | 17 | €77,941 | €60,298 | -€17,644 | -22.6% |
| Financial debts | 170/4 | €43,918 | €26,275 | -€17,644 | -40.2% |
| Other amounts payable | 178/9 | €34,023 | €34,023 | = | 0.0% |
| Amounts payable within one year | 42/48 | €162,515 | €232,051 | +€69,536 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | €17,070 | €17,644 | +€574 | +3.4% |
| Financial debts | 43 | €75,878 | €51,836 | -€24,043 | -31.7% |
| Credit institutions | 430/8 | €75,878 | €51,836 | -€24,043 | -31.7% |
| Trade debts | 44 | €37,647 | €39,825 | +€2,178 | +5.8% |
| Suppliers | 440/4 | €37,647 | €39,825 | +€2,178 | +5.8% |
| Taxes, remuneration and social security | 45 | €12,472 | €14,994 | +€2,521 | +20.2% |
| Taxes | 450/3 | €2,300 | €5,164 | +€2,864 | +124.5% |
| Remuneration and social security | 454/9 | €10,172 | €9,829 | -€343 | -3.4% |
| Other amounts payable | 47/48 | €19,447 | €107,752 | +€88,305 | +454.1% |
| Accrued charges and deferred income | 492/3 | €890 | €890 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €96,854 | €93,219 | -€3,635 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,444 | €25,261 | -€2,183 | -8.0% |
| Other operating charges | 640/8 | €60,819 | €2,614 | -€58,205 | -95.7% |
| Gross operating margin | 9900 | €78,912 | €8,158 | -€70,754 | -89.7% |
| Operating profit (loss) | 9901 | -€106,205 | -€112,935 | -€6,730 | -6.3% |
| Financial income | 75/76B | €975 | €4,239 | +€3,263 | +334.6% |
| Recurring financial income | 75 | €975 | €4,239 | +€3,263 | +334.6% |
| Financial charges | 65/66B | €6,292 | €8,127 | +€1,835 | +29.2% |
| Recurring financial charges | 65 | €6,292 | €8,127 | +€1,835 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | -€111,522 | -€116,824 | -€5,302 | -4.8% |
| Income taxes | 67/77 | €146 | €273 | +€128 | +87.6% |
| Profit (loss) for the period | 9904 | -€111,668 | -€117,097 | -€5,429 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€111,668 | -€117,097 | -€5,429 | -4.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.