BY-MANAGEMENT: 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.
BY-MANAGEMENT
Largest movements
- Cash +€58,754
up €58,754 (+281%), from €20,900 to €79,654
mainly Receivables within one year (+€51,842) and Net result for the year (+€26,037)
- Receivables within one year -€51,842
down €51,842 (-95.6%), from €54,216 to €2,374
of which Trade receivables: -€52,223
- Tangible fixed assets -€14,167
down €14,167 (-14.8%), from €95,626 to €81,459
- Profit (loss) carried forward +€26,037
up €26,037 (+21.3%), from -€122,014 to -€95,977
- Debts after one year -€19,960
down €19,960 (-40.3%), from €49,570 to €29,610
- Tax, wage and social debts -€6,935
down €6,935 (-42.1%), from €16,484 to €9,549
of which Taxes: -€5,731
- Trade debts -€4,725
down €4,725 (-75.0%), from €6,298 to €1,574
- Other debts -€2,968
down €2,968 (-21.6%), from €13,736 to €10,768
- Gross operating margin +€8,866
up €8,866 (+15.6%), from €56,917 to €65,783
- Staff costs -€4,333
down €4,333 (-18.0%), from €24,135 to €19,802
- Other operating charges -€1,205
down €1,205 (-41.6%), from €2,899 to €1,694
- Financial charges -€890
down €890 (-20.4%), from €4,353 to €3,463
- Depreciation -€885
down €885 (-5.6%), from €15,760 to €14,875
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 | €171,450 | €163,733 | -€7,717 | -4.5% |
| Fixed assets | 21/28 | €96,335 | €81,459 | -€14,875 | -15.4% |
| Intangible fixed assets | 21 | €708 | - | -€708 | |
| Tangible fixed assets | 22/27 | €95,626 | €81,459 | -€14,167 | -14.8% |
| Land and buildings | 22 | €95,626 | €81,459 | -€14,167 | -14.8% |
| Current assets | 29/58 | €75,115 | €82,274 | +€7,158 | +9.5% |
| Amounts receivable within one year | 40/41 | €54,216 | €2,374 | -€51,842 | -95.6% |
| Trade receivables | 40 | €52,223 | - | -€52,223 | |
| Other amounts receivable | 41 | €1,993 | €2,374 | +€381 | +19.1% |
| Cash at bank and in hand | 54/58 | €20,900 | €79,654 | +€58,754 | +281% |
| Deferred charges and accrued income | 490/1 | - | €246 | +€246 | |
| Total equity and liabilities | 10/49 | €171,450 | €163,733 | -€7,717 | -4.5% |
| Equity | 10/15 | €66,149 | €92,186 | +€26,037 | +39.4% |
| Contributions | 10/11 | €69,960 | €69,960 | = | 0.0% |
| Contributions outside capital | 11 | €69,960 | €69,960 | = | 0.0% |
| Other | 1109/19 | €69,960 | €69,960 | = | 0.0% |
| Reserves | 13 | €118,204 | €118,204 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,204 | €43,204 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,014 | -€95,977 | +€26,037 | +21.3% |
| Amounts payable | 17/49 | €105,301 | €71,547 | -€33,754 | -32.1% |
| Amounts payable after more than one year | 17 | €49,570 | €29,610 | -€19,960 | -40.3% |
| Financial debts | 170/4 | €49,570 | €29,610 | -€19,960 | -40.3% |
| Amounts payable within one year | 42/48 | €55,731 | €41,937 | -€13,795 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €19,213 | €19,960 | +€746 | +3.9% |
| Financial debts | 43 | - | €87 | +€87 | |
| Credit institutions | 430/8 | - | €87 | +€87 | |
| Trade debts | 44 | €6,298 | €1,574 | -€4,725 | -75.0% |
| Suppliers | 440/4 | €6,298 | €1,574 | -€4,725 | -75.0% |
| Taxes, remuneration and social security | 45 | €16,484 | €9,549 | -€6,935 | -42.1% |
| Taxes | 450/3 | €12,418 | €6,687 | -€5,731 | -46.2% |
| Remuneration and social security | 454/9 | €4,066 | €2,862 | -€1,204 | -29.6% |
| Other amounts payable | 47/48 | €13,736 | €10,768 | -€2,968 | -21.6% |
| Remuneration, social security and pensions | 62 | €24,135 | €19,802 | -€4,333 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,760 | €14,875 | -€885 | -5.6% |
| Other operating charges | 640/8 | €2,899 | €1,694 | -€1,205 | -41.6% |
| Gross operating margin | 9900 | €56,917 | €65,783 | +€8,866 | +15.6% |
| Operating profit (loss) | 9901 | €14,124 | €29,412 | +€15,289 | +108% |
| Financial income | 75/76B | - | €88 | +€88 | |
| Recurring financial income | 75 | - | €88 | +€88 | |
| Financial charges | 65/66B | €4,353 | €3,463 | -€890 | -20.4% |
| Recurring financial charges | 65 | €4,353 | €3,463 | -€890 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €9,771 | €26,037 | +€16,266 | +166% |
| Profit (loss) for the period | 9904 | €9,771 | €26,037 | +€16,266 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €9,771 | €26,037 | +€16,266 | +166% |
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 13 October 2026 via checked.be.