Buckle Up: 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.
Buckle Up
Largest movements
- Tangible fixed assets +€507,963
up €507,963 (+5,600%), from €9,071 to €517,034
of which Land and buildings: +€512,066
- Cash -€107,207
down €107,207 (-79.8%), from €134,381 to €27,174
mainly Investment in fixed assets (net) (-€540,485) and Short-term financial debts (-€17,636)
- Receivables within one year -€36,335
down €36,335 (-58.1%), from €62,486 to €26,151
of which Trade receivables: -€42,789
- Deferred charges and accrued income -€30,418
down €30,418 (-96.5%), from €31,521 to €1,103
- Debts after one year +€307,222
new in 2025: €307,222
- Current portion of long-term debt +€23,333
new in 2025: €23,333
- Short-term financial debts -€17,636
down €17,636 (-99.8%), from €17,671 to €35
- Other debts +€15,897
up €15,897 (+286%), from €5,564 to €21,461
- Reserves +€12,614
up €12,614 (+6.4%), from €197,298 to €209,911
- Gross operating margin -€109,294
down €109,294 (-57.5%), from €190,050 to €80,757
- Taxes -€35,907
down €35,907 (-83.4%), from €43,038 to €7,131
- Depreciation +€31,496
up €31,496 (+3,069%), from €1,026 to €32,522
- Financial charges +€12,792
up €12,792 (+319%), from €4,010 to €16,802
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.
Derived cash bridge
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 | €237,459 | €571,463 | +€334,003 | +141% |
| Fixed assets | 21/28 | €9,071 | €517,034 | +€507,963 | +5,600% |
| Tangible fixed assets | 22/27 | €9,071 | €517,034 | +€507,963 | +5,600% |
| Land and buildings | 22 | - | €512,066 | +€512,066 | |
| Plant, machinery and equipment | 23 | - | €1,885 | +€1,885 | |
| Furniture and vehicles | 24 | - | €3,082 | +€3,082 | |
| Other tangible fixed assets | 26 | €9,071 | €0 | -€9,071 | -100% |
| Current assets | 29/58 | €228,388 | €54,429 | -€173,960 | -76.2% |
| Amounts receivable within one year | 40/41 | €62,486 | €26,151 | -€36,335 | -58.1% |
| Trade receivables | 40 | €62,482 | €19,693 | -€42,789 | -68.5% |
| Other amounts receivable | 41 | €4 | €6,458 | +€6,455 | +169,857% |
| Cash at bank and in hand | 54/58 | €134,381 | €27,174 | -€107,207 | -79.8% |
| Deferred charges and accrued income | 490/1 | €31,521 | €1,103 | -€30,418 | -96.5% |
| Total equity and liabilities | 10/49 | €237,459 | €571,463 | +€334,003 | +141% |
| Equity | 10/15 | €199,298 | €211,911 | +€12,614 | +6.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €197,298 | €209,911 | +€12,614 | +6.4% |
| Distributable reserves | 133 | €197,298 | €209,911 | +€12,614 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €38,162 | €359,551 | +€321,389 | +842% |
| Amounts payable after more than one year | 17 | - | €307,222 | +€307,222 | |
| Financial debts | 170/4 | - | €307,222 | +€307,222 | |
| Amounts payable within one year | 42/48 | €36,726 | €52,329 | +€15,603 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | - | €23,333 | +€23,333 | |
| Financial debts | 43 | €17,671 | €35 | -€17,636 | -99.8% |
| Credit institutions | 430/8 | €17,671 | €35 | -€17,636 | -99.8% |
| Trade debts | 44 | €945 | €2,142 | +€1,197 | +127% |
| Suppliers | 440/4 | €945 | €2,142 | +€1,197 | +127% |
| Taxes, remuneration and social security | 45 | €12,546 | €5,357 | -€7,188 | -57.3% |
| Taxes | 450/3 | €10,346 | €3,007 | -€7,338 | -70.9% |
| Remuneration and social security | 454/9 | €2,200 | €2,350 | +€150 | +6.8% |
| Other amounts payable | 47/48 | €5,564 | €21,461 | +€15,897 | +286% |
| Accrued charges and deferred income | 492/3 | €1,436 | €0 | -€1,436 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,026 | €32,522 | +€31,496 | +3,069% |
| Other operating charges | 640/8 | €236 | €678 | +€441 | +187% |
| Non-recurring operating charges | 66A | - | €11,011 | +€11,011 | |
| Gross operating margin | 9900 | €190,050 | €80,757 | -€109,294 | -57.5% |
| Operating profit (loss) | 9901 | €188,788 | €36,546 | -€152,242 | -80.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,010 | €16,802 | +€12,792 | +319% |
| Recurring financial charges | 65 | €4,010 | €16,802 | +€12,792 | +319% |
| Profit (loss) for the period before taxes | 9903 | €184,778 | €19,745 | -€165,034 | -89.3% |
| Income taxes | 67/77 | €43,038 | €7,131 | -€35,907 | -83.4% |
| Profit (loss) for the period | 9904 | €141,741 | €12,614 | -€129,127 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €141,741 | €12,614 | -€129,127 | -91.1% |
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 18 October 2026 via checked.be.