BUSINESS: 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.
BUSINESS
Largest movements
- Receivables within one year +€103,335
up €103,335 (+88.8%), from €116,384 to €219,720
of which Other amounts receivable: +€176,190
- Tangible fixed assets -€66,799
down €66,799 (-18.4%), from €363,551 to €296,752
of which Other tangible fixed assets: -€57,793
- Cash -€27,082
down €27,082 (-46.0%), from €58,921 to €31,839
mainly Receivables within one year (-€103,335) and Debts after one year (-€102,830)
- Debts after one year -€102,830
down €102,830 (-14.2%), from €726,367 to €623,537
of which Other amounts payable: -€87,999
- Other debts +€85,143
up €85,143 (+482%), from €17,654 to €102,797
- Profit (loss) carried forward +€39,539
up €39,539 (+15.0%), from -€263,579 to -€224,040
- Trade debts -€24,496
down €24,496 (-46.1%), from €53,115 to €28,619
- Current portion of long-term debt +€11,226
up €11,226 (+182%), from €6,153 to €17,379
- Gross operating margin -€131,892
down €131,892 (-34.0%), from €388,475 to €256,583
- Staff costs -€20,137
down €20,137 (-12.1%), from €165,777 to €145,640
- Depreciation -€11,964
down €11,964 (-18.2%), from €65,700 to €53,735
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 | €666,840 | €677,087 | +€10,247 | +1.5% |
| Fixed assets | 21/28 | €363,821 | €297,022 | -€66,799 | -18.4% |
| Tangible fixed assets | 22/27 | €363,551 | €296,752 | -€66,799 | -18.4% |
| Plant, machinery and equipment | 23 | €1,517 | €820 | -€697 | -46.0% |
| Furniture and vehicles | 24 | €11,759 | €3,450 | -€8,309 | -70.7% |
| Other tangible fixed assets | 26 | €350,275 | €292,482 | -€57,793 | -16.5% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €303,019 | €380,065 | +€77,046 | +25.4% |
| Amounts receivable after more than one year | 29 | €115,000 | €115,000 | = | 0.0% |
| Other amounts receivable | 291 | €115,000 | €115,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €11,793 | €6,670 | -€5,123 | -43.4% |
| Stocks | 30/36 | €11,793 | €6,670 | -€5,123 | -43.4% |
| Amounts receivable within one year | 40/41 | €116,384 | €219,720 | +€103,335 | +88.8% |
| Trade receivables | 40 | €116,284 | €43,430 | -€72,855 | -62.7% |
| Other amounts receivable | 41 | €100 | €176,290 | +€176,190 | +176,437% |
| Cash at bank and in hand | 54/58 | €58,921 | €31,839 | -€27,082 | -46.0% |
| Deferred charges and accrued income | 490/1 | €921 | €6,837 | +€5,916 | +642% |
| Total equity and liabilities | 10/49 | €666,840 | €677,087 | +€10,247 | +1.5% |
| Equity | 10/15 | -€152,027 | -€112,488 | +€39,539 | +26.0% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Capital | 10 | €111,552 | €111,552 | = | 0.0% |
| Issued capital | 100 | €111,552 | €111,552 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€263,579 | -€224,040 | +€39,539 | +15.0% |
| Amounts payable | 17/49 | €818,866 | €789,574 | -€29,292 | -3.6% |
| Amounts payable after more than one year | 17 | €726,367 | €623,537 | -€102,830 | -14.2% |
| Financial debts | 170/4 | €515,391 | €500,560 | -€14,831 | -2.9% |
| Other amounts payable | 178/9 | €210,976 | €122,977 | -€87,999 | -41.7% |
| Amounts payable within one year | 42/48 | €92,500 | €166,037 | +€73,537 | +79.5% |
| Current portion of amounts payable after more than one year | 42 | €6,153 | €17,379 | +€11,226 | +182% |
| Trade debts | 44 | €53,115 | €28,619 | -€24,496 | -46.1% |
| Suppliers | 440/4 | €53,115 | €28,619 | -€24,496 | -46.1% |
| Taxes, remuneration and social security | 45 | €15,578 | €17,242 | +€1,665 | +10.7% |
| Taxes | 450/3 | €1,154 | €5,777 | +€4,623 | +401% |
| Remuneration and social security | 454/9 | €14,424 | €11,466 | -€2,958 | -20.5% |
| Other amounts payable | 47/48 | €17,654 | €102,797 | +€85,143 | +482% |
| Remuneration, social security and pensions | 62 | €165,777 | €145,640 | -€20,137 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,700 | €53,735 | -€11,964 | -18.2% |
| Other operating charges | 640/8 | €448 | €429 | -€19 | -4.2% |
| Non-recurring operating charges | 66A | €375 | €13,064 | +€12,689 | +3,384% |
| Gross operating margin | 9900 | €388,475 | €256,583 | -€131,892 | -34.0% |
| Operating profit (loss) | 9901 | €156,175 | €43,715 | -€112,460 | -72.0% |
| Financial income | 75/76B | €4,878 | €6,255 | +€1,377 | +28.2% |
| Recurring financial income | 75 | €4,878 | €6,255 | +€1,377 | +28.2% |
| Financial charges | 65/66B | €9,399 | €10,431 | +€1,032 | +11.0% |
| Recurring financial charges | 65 | €9,399 | €10,431 | +€1,032 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €151,654 | €39,539 | -€112,115 | -73.9% |
| Profit (loss) for the period | 9904 | €151,654 | €39,539 | -€112,115 | -73.9% |
| Profit (loss) for the period to be appropriated | 9905 | €151,654 | €39,539 | -€112,115 | -73.9% |
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 16 October 2026 via checked.be.