CHANGELOOP: what changed
Two fiscal 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.
CHANGELOOP
Largest movements
- Receivables within one year -€447,145
down €447,145 (-89.1%), from €501,827 to €54,683
of which Trade receivables: -€445,530
- Cash -€208,127
down €208,127 (-40.2%), from €518,055 to €309,927
mainly Trade debts (-€505,146) and Other debts (-€147,060)
- Tangible fixed assets -€32,783
down €32,783 (-2.9%), from €1.1m to €1.1m
of which Land and buildings: -€52,455
- Trade debts -€505,146
down €505,146 (-97.8%), from €516,565 to €11,419
- Other debts -€147,060
down €147,060 (-100.0%), from €147,060 to €0
- Debts after one year -€47,990
down €47,990 (-7.9%), from €604,178 to €556,188
of which Financial debts: -€47,990
- Reserves +€36,000
up €36,000 (+8.3%), from €435,175 to €471,175
of which Distributable reserves: +€36,000
- Gross operating margin -€259,602
down €259,602 (-68.4%), from €379,322 to €119,720
- Taxes -€84,980
down €84,980 (-93.9%), from €90,543 to €5,563
- Depreciation -€12,840
down €12,840 (-18.1%), from €70,793 to €57,953
- Financial charges +€6,285
up €6,285 (+31.0%), from €20,305 to €26,590
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 | €2,175,621 | €1,484,296 | -€691,325 | -31.8% |
| Fixed assets | 21/28 | €1,140,246 | €1,107,463 | -€32,783 | -2.9% |
| Tangible fixed assets | 22/27 | €1,140,246 | €1,107,463 | -€32,783 | -2.9% |
| Land and buildings | 22 | €1,131,279 | €1,078,824 | -€52,455 | -4.6% |
| Plant, machinery and equipment | 23 | €5,861 | €14,663 | +€8,802 | +150.2% |
| Furniture and vehicles | 24 | €3,107 | €13,976 | +€10,870 | +349.9% |
| Current assets | 29/58 | €1,035,374 | €376,833 | -€658,542 | -63.6% |
| Stocks and contracts in progress | 3 | €5,826 | €4,983 | -€843 | -14.5% |
| Stocks | 30/36 | €5,826 | €4,983 | -€843 | -14.5% |
| Amounts receivable within one year | 40/41 | €501,827 | €54,683 | -€447,145 | -89.1% |
| Trade receivables | 40 | €493,419 | €47,888 | -€445,530 | -90.3% |
| Other amounts receivable | 41 | €8,409 | €6,794 | -€1,614 | -19.2% |
| Cash at bank and in hand | 54/58 | €518,055 | €309,927 | -€208,127 | -40.2% |
| Deferred charges and accrued income | 490/1 | €9,667 | €7,240 | -€2,427 | -25.1% |
| Total equity and liabilities | 10/49 | €2,175,621 | €1,484,296 | -€691,325 | -31.8% |
| Equity | 10/15 | €682,448 | €702,636 | +€20,188 | +3.0% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €435,175 | €471,175 | +€36,000 | +8.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €117,880 | €117,880 | = | 0.0% |
| Distributable reserves | 133 | €317,295 | €353,295 | +€36,000 | +11.3% |
| Profit (loss) carried forward | 14 | €27,273 | €11,461 | -€15,812 | -58.0% |
| Provisions and deferred taxes | 16 | €151,552 | €151,552 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €151,552 | €151,552 | = | 0.0% |
| Pensions and similar obligations | 160 | €151,552 | €151,552 | = | 0.0% |
| Amounts payable | 17/49 | €1,341,621 | €630,108 | -€711,513 | -53.0% |
| Amounts payable after more than one year | 17 | €604,178 | €556,188 | -€47,990 | -7.9% |
| Financial debts | 170/4 | €603,855 | €555,865 | -€47,990 | -7.9% |
| Other amounts payable | 178/9 | €322 | €322 | = | 0.0% |
| Amounts payable within one year | 42/48 | €737,443 | €73,920 | -€663,523 | -90.0% |
| Current portion of amounts payable after more than one year | 42 | €46,134 | €48,141 | +€2,007 | +4.4% |
| Trade debts | 44 | €516,565 | €11,419 | -€505,146 | -97.8% |
| Suppliers | 440/4 | €516,565 | €11,419 | -€505,146 | -97.8% |
| Taxes, remuneration and social security | 45 | €27,684 | €14,360 | -€13,324 | -48.1% |
| Taxes | 450/3 | €27,684 | €14,360 | -€13,324 | -48.1% |
| Other amounts payable | 47/48 | €147,060 | €0 | -€147,060 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,793 | €57,953 | -€12,840 | -18.1% |
| Other operating charges | 640/8 | €16,225 | €14,041 | -€2,184 | -13.5% |
| Gross operating margin | 9900 | €379,322 | €119,720 | -€259,602 | -68.4% |
| Operating profit (loss) | 9901 | €292,304 | €47,726 | -€244,578 | -83.7% |
| Financial income | 75/76B | €5,639 | €4,616 | -€1,024 | -18.1% |
| Recurring financial income | 75 | €5,639 | €4,616 | -€1,024 | -18.1% |
| Financial charges | 65/66B | €20,305 | €26,590 | +€6,285 | +31.0% |
| Recurring financial charges | 65 | €20,305 | €26,590 | +€6,285 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €277,638 | €25,751 | -€251,887 | -90.7% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €90,543 | €5,563 | -€84,980 | -93.9% |
| Profit (loss) for the period | 9904 | €187,095 | €20,188 | -€166,907 | -89.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €117,880 | €0 | -€117,880 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €69,215 | €20,188 | -€49,027 | -70.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.