BY US: 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 US
Largest movements
- Receivables within one year +€759,596
new in 2025: €759,596
of which Trade receivables: +€759,031
- Cash -€156,755
down €156,755 (-62.9%), from €249,145 to €92,390
mainly Receivables within one year (-€759,596) and Accrued charges and deferred income (-€128,388)
- Stocks and contracts -€46,389
down €46,389 (-96.3%), from €48,154 to €1,765
- Tangible fixed assets +€20,176
up €20,176 (+425.7%), from €4,739 to €24,915
of which Plant, machinery and equipment: +€21,806
- Trade debts +€629,889
up €629,889 (+576.8%), from €109,197 to €739,086
- Accrued charges and deferred income -€128,388
no longer reported in 2025 (was €128,388)
- Profit (loss) carried forward +€104,439
up €104,439, from -€2,217 to €102,221
- Tax, wage and social debts -€28,618
down €28,618 (-45.6%), from €62,706 to €34,088
- Gross operating margin +€149,958
up €149,958, from -€2,031 to €147,928
- Taxes +€28,442
new in 2025: €28,442
- Depreciation +€5,080
up €5,080 (+3364.7%), from €151 to €5,231
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
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 | €303,073 | €880,395 | +€577,322 | +190.5% |
| Fixed assets | 21/28 | €4,739 | €24,915 | +€20,176 | +425.7% |
| Tangible fixed assets | 22/27 | €4,739 | €24,915 | +€20,176 | +425.7% |
| Plant, machinery and equipment | 23 | - | €21,806 | +€21,806 | |
| Furniture and vehicles | 24 | €4,739 | €3,109 | -€1,630 | -34.4% |
| Current assets | 29/58 | €298,334 | €855,480 | +€557,145 | +186.8% |
| Stocks and contracts in progress | 3 | €48,154 | €1,765 | -€46,389 | -96.3% |
| Stocks | 30/36 | €48,154 | €1,765 | -€46,389 | -96.3% |
| Amounts receivable within one year | 40/41 | - | €759,596 | +€759,596 | |
| Trade receivables | 40 | - | €759,031 | +€759,031 | |
| Other amounts receivable | 41 | - | €565 | +€565 | |
| Cash at bank and in hand | 54/58 | €249,145 | €92,390 | -€156,755 | -62.9% |
| Deferred charges and accrued income | 490/1 | €1,035 | €1,729 | +€693 | +67.0% |
| Total equity and liabilities | 10/49 | €303,073 | €880,395 | +€577,322 | +190.5% |
| Equity | 10/15 | €2,783 | €107,221 | +€104,439 | +3753.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,217 | €102,221 | +€104,439 | |
| Amounts payable | 17/49 | €300,291 | €773,174 | +€472,883 | +157.5% |
| Amounts payable within one year | 42/48 | €171,902 | €773,174 | +€601,271 | +349.8% |
| Trade debts | 44 | €109,197 | €739,086 | +€629,889 | +576.8% |
| Suppliers | 440/4 | €109,197 | €739,086 | +€629,889 | +576.8% |
| Taxes, remuneration and social security | 45 | €62,706 | €34,088 | -€28,618 | -45.6% |
| Taxes | 450/3 | €62,706 | €34,088 | -€28,618 | -45.6% |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | €128,388 | - | -€128,388 | |
| Non-recurring operating income | 76A | - | €9,136 | +€9,136 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151 | €5,231 | +€5,080 | +3364.7% |
| Other operating charges | 640/8 | - | €429 | +€429 | |
| Non-recurring operating charges | 66A | - | €9,500 | +€9,500 | |
| Gross operating margin | 9900 | -€2,031 | €147,928 | +€149,958 | |
| Operating profit (loss) | 9901 | -€2,181 | €132,768 | +€134,950 | |
| Financial income | 75/76B | - | €451 | +€451 | |
| Recurring financial income | 75 | - | €451 | +€451 | |
| Financial charges | 65/66B | €36 | €338 | +€303 | +846.6% |
| Recurring financial charges | 65 | €36 | €338 | +€303 | +846.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,217 | €132,881 | +€135,098 | |
| Income taxes | 67/77 | - | €28,442 | +€28,442 | |
| Profit (loss) for the period | 9904 | -€2,217 | €104,439 | +€106,656 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,217 | €104,439 | +€106,656 |
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 10 October 2026 via checked.be.