Caroline RICHARD: 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.
Caroline RICHARD
Largest movements
- Cash +€79,058
up €79,058 (+37.7%), from €209,632 to €288,690
mainly Net result for the year (+€117,019) and Depreciation (+€24,707)
- Tangible fixed assets +€37,700
up €37,700 (+186%), from €20,218 to €57,917
of which Assets under construction and advance payments: +€43,800
- Intangible fixed assets -€16,857
down €16,857 (-20.0%), from €84,286 to €67,429
- Stocks and contracts +€6,267
up €6,267 (+28.0%), from €22,387 to €28,654
- Reserves +€117,019
up €117,019 (+68.1%), from €171,727 to €288,746
- Debts after one year -€26,514
down €26,514 (-42.0%), from €63,160 to €36,646
- Tax, wage and social debts +€15,332
up €15,332 (+28.9%), from €52,986 to €68,318
of which Taxes: +€15,332
- Gross operating margin +€36,863
up €36,863 (+24.0%), from €153,426 to €190,289
- Taxes +€13,220
up €13,220 (+37.7%), from €35,108 to €48,328
- Financial income +€3,386
up €3,386 (+41,097%), from €8 to €3,395
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 | €337,862 | €444,893 | +€107,032 | +31.7% |
| Fixed assets | 21/28 | €104,503 | €125,346 | +€20,843 | +19.9% |
| Intangible fixed assets | 21 | €84,286 | €67,429 | -€16,857 | -20.0% |
| Tangible fixed assets | 22/27 | €20,218 | €57,917 | +€37,700 | +186% |
| Plant, machinery and equipment | 23 | €20,218 | €14,117 | -€6,100 | -30.2% |
| Assets under construction and advance payments | 27 | - | €43,800 | +€43,800 | |
| Current assets | 29/58 | €233,358 | €319,547 | +€86,189 | +36.9% |
| Stocks and contracts in progress | 3 | €22,387 | €28,654 | +€6,267 | +28.0% |
| Stocks | 30/36 | €22,387 | €28,654 | +€6,267 | +28.0% |
| Amounts receivable within one year | 40/41 | €837 | €1,379 | +€542 | +64.7% |
| Trade receivables | 40 | €837 | €1,379 | +€542 | +64.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €209,632 | €288,690 | +€79,058 | +37.7% |
| Deferred charges and accrued income | 490/1 | €502 | €824 | +€321 | +64.0% |
| Total equity and liabilities | 10/49 | €337,862 | €444,893 | +€107,032 | +31.7% |
| Equity | 10/15 | €176,727 | €293,746 | +€117,019 | +66.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €171,727 | €288,746 | +€117,019 | +68.1% |
| Distributable reserves | 133 | €171,727 | €288,746 | +€117,019 | +68.1% |
| Amounts payable | 17/49 | €161,135 | €151,148 | -€9,987 | -6.2% |
| Amounts payable after more than one year | 17 | €63,160 | €36,646 | -€26,514 | -42.0% |
| Financial debts | 170/4 | €63,160 | €36,646 | -€26,514 | -42.0% |
| Amounts payable within one year | 42/48 | €97,975 | €114,502 | +€16,527 | +16.9% |
| Current portion of amounts payable after more than one year | 42 | €25,710 | €26,514 | +€804 | +3.1% |
| Trade debts | 44 | €16,513 | €14,585 | -€1,928 | -11.7% |
| Suppliers | 440/4 | €16,513 | €14,585 | -€1,928 | -11.7% |
| Taxes, remuneration and social security | 45 | €52,986 | €68,318 | +€15,332 | +28.9% |
| Taxes | 450/3 | €50,786 | €66,118 | +€15,332 | +30.2% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | €2,766 | €5,084 | +€2,319 | +83.8% |
| Remuneration, social security and pensions | 62 | - | €66 | +€66 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,812 | €24,707 | +€895 | +3.8% |
| Other operating charges | 640/8 | €1,006 | €573 | -€433 | -43.0% |
| Gross operating margin | 9900 | €153,426 | €190,289 | +€36,863 | +24.0% |
| Operating profit (loss) | 9901 | €128,608 | €164,943 | +€36,335 | +28.3% |
| Financial income | 75/76B | €8 | €3,395 | +€3,386 | +41,097% |
| Recurring financial income | 75 | €8 | €3,395 | +€3,386 | +41,097% |
| Financial charges | 65/66B | €4,007 | €2,991 | -€1,017 | -25.4% |
| Recurring financial charges | 65 | €4,007 | €2,991 | -€1,017 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €124,609 | €165,347 | +€40,738 | +32.7% |
| Income taxes | 67/77 | €35,108 | €48,328 | +€13,220 | +37.7% |
| Profit (loss) for the period | 9904 | €89,501 | €117,019 | +€27,519 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €89,501 | €117,019 | +€27,519 | +30.7% |
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 21 October 2026 via checked.be.