BULLSEYE: 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.
BULLSEYE
Largest movements
- Cash +€71,382
up €71,382 (+62.4%), from €114,349 to €185,730
mainly Net result for the year (+€44,410) and Other debts (+€13,074)
- Receivables within one year -€13,020
down €13,020 (-84.8%), from €15,360 to €2,340
of which Trade receivables: -€13,148
- Reserves +€44,410
up €44,410 (+19.2%), from €231,372 to €275,782
- Other debts +€13,074
up €13,074 (+2.4%), from €551,442 to €564,516
- Financial income -€19,215
down €19,215 (-96.1%), from €19,990 to €775
- Gross operating margin +€10,261
up €10,261 (+12.8%), from €80,267 to €90,528
- Taxes +€1,275
up €1,275 (+5.6%), from €22,757 to €24,031
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 | €950,144 | €1,008,265 | +€58,121 | +6.1% |
| Fixed assets | 21/28 | €819,947 | €819,782 | -€165 | 0.0% |
| Tangible fixed assets | 22/27 | €447 | €282 | -€165 | -37.0% |
| Plant, machinery and equipment | 23 | €447 | €282 | -€165 | -37.0% |
| Financial fixed assets | 28 | €819,500 | €819,500 | = | 0.0% |
| Current assets | 29/58 | €130,197 | €188,484 | +€58,286 | +44.8% |
| Amounts receivable within one year | 40/41 | €15,360 | €2,340 | -€13,020 | -84.8% |
| Trade receivables | 40 | €15,360 | €2,211 | -€13,148 | -85.6% |
| Other amounts receivable | 41 | - | €128 | +€128 | |
| Cash at bank and in hand | 54/58 | €114,349 | €185,730 | +€71,382 | +62.4% |
| Deferred charges and accrued income | 490/1 | €489 | €414 | -€75 | -15.4% |
| Total equity and liabilities | 10/49 | €950,144 | €1,008,265 | +€58,121 | +6.1% |
| Equity | 10/15 | €374,259 | €418,669 | +€44,410 | +11.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €231,372 | €275,782 | +€44,410 | +19.2% |
| Distributable reserves | 133 | €231,372 | €275,782 | +€44,410 | +19.2% |
| Profit (loss) carried forward | 14 | €122,888 | €122,888 | = | 0.0% |
| Amounts payable | 17/49 | €575,885 | €589,596 | +€13,711 | +2.4% |
| Amounts payable within one year | 42/48 | €566,941 | €579,029 | +€12,087 | +2.1% |
| Trade debts | 44 | €1,118 | €2,071 | +€952 | +85.1% |
| Suppliers | 440/4 | €1,118 | €2,071 | +€952 | +85.1% |
| Taxes, remuneration and social security | 45 | €14,381 | €12,443 | -€1,939 | -13.5% |
| Taxes | 450/3 | €14,381 | €12,443 | -€1,939 | -13.5% |
| Other amounts payable | 47/48 | €551,442 | €564,516 | +€13,074 | +2.4% |
| Accrued charges and deferred income | 492/3 | €8,943 | €10,567 | +€1,624 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175 | €165 | -€10 | -5.7% |
| Other operating charges | 640/8 | €1,258 | €968 | -€291 | -23.1% |
| Gross operating margin | 9900 | €80,267 | €90,528 | +€10,261 | +12.8% |
| Operating profit (loss) | 9901 | €78,834 | €89,395 | +€10,561 | +13.4% |
| Financial income | 75/76B | €19,990 | €775 | -€19,215 | -96.1% |
| Recurring financial income | 75 | €19,990 | €775 | -€19,215 | -96.1% |
| Financial charges | 65/66B | €21,205 | €21,729 | +€524 | +2.5% |
| Recurring financial charges | 65 | €21,205 | €21,729 | +€524 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €77,619 | €68,441 | -€9,177 | -11.8% |
| Income taxes | 67/77 | €22,757 | €24,031 | +€1,275 | +5.6% |
| Profit (loss) for the period | 9904 | €54,862 | €44,410 | -€10,452 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,862 | €44,410 | -€10,452 | -19.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.