CLOSING: 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.
CLOSING
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+110,681%), from €928 to €1.0m
- Current investments +€730,538
up €730,538 (+612%), from €119,462 to €850,000
- Cash -€697,806
down €697,806 (-56.7%), from €1.2m to €532,701
mainly Investment in fixed assets (net) (-€1.0m) and Contributions, distributions and other (-€874,713)
- Receivables within one year -€593,910
down €593,910 (-43.5%), from €1.4m to €770,030
of which Other amounts receivable: -€1.1m
- Reserves +€907,059
up €907,059 (+748%), from €121,322 to €1.0m
of which Non-distributable reserves: +€907,059
- Profit (loss) carried forward -€907,059
down €907,059 (-62.1%), from €1.5m to €553,436
- Trade debts +€743,875
up €743,875 (+4,386%), from €16,960 to €760,834
- Other debts -€235,970
down €235,970 (-23.8%), from €991,644 to €755,674
- Tax, wage and social debts -€47,879
down €47,879 (-35.4%), from €135,375 to €87,497
of which Taxes: -€65,494
- Gross operating margin -€1.1m
down €1.1m (-42.1%), from €2.6m to €1.5m
- Staff costs +€110,082
up €110,082 (+59.8%), from €184,075 to €294,157
- Taxes -€76,511
down €76,511 (-20.0%), from €382,045 to €305,534
- Write-downs +€30,000
new in 2025: €30,000
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 | €2,744,397 | €3,204,492 | +€460,095 | +16.8% |
| Fixed assets | 21/28 | €6,216 | €1,032,253 | +€1.0m | +16,507% |
| Tangible fixed assets | 22/27 | €5,288 | €4,202 | -€1,085 | -20.5% |
| Furniture and vehicles | 24 | €5,288 | €4,202 | -€1,085 | -20.5% |
| Financial fixed assets | 28 | €928 | €1,028,050 | +€1.0m | +110,681% |
| Current assets | 29/58 | €2,738,181 | €2,172,240 | -€565,942 | -20.7% |
| Amounts receivable within one year | 40/41 | €1,363,941 | €770,030 | -€593,910 | -43.5% |
| Trade receivables | 40 | €228,768 | €736,795 | +€508,027 | +222% |
| Other amounts receivable | 41 | €1,135,173 | €33,235 | -€1.1m | -97.1% |
| Current investments | 50/53 | €119,462 | €850,000 | +€730,538 | +612% |
| Cash at bank and in hand | 54/58 | €1,230,507 | €532,701 | -€697,806 | -56.7% |
| Deferred charges and accrued income | 490/1 | €24,271 | €19,508 | -€4,763 | -19.6% |
| Total equity and liabilities | 10/49 | €2,744,397 | €3,204,492 | +€460,095 | +16.8% |
| Equity | 10/15 | €1,600,418 | €1,600,418 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,322 | €1,028,381 | +€907,059 | +748% |
| Non-distributable reserves | 130/1 | €119,462 | €1,026,521 | +€907,059 | +759% |
| Reserves not available under the articles | 1311 | - | €1,026,521 | +€1.0m | |
| Own shares acquired | 1312 | €119,462 | €0 | -€119,462 | -100% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,460,496 | €553,436 | -€907,059 | -62.1% |
| Amounts payable | 17/49 | €1,143,979 | €1,604,074 | +€460,095 | +40.2% |
| Amounts payable within one year | 42/48 | €1,143,979 | €1,604,005 | +€460,026 | +40.2% |
| Trade debts | 44 | €16,960 | €760,834 | +€743,875 | +4,386% |
| Suppliers | 440/4 | €16,960 | €760,834 | +€743,875 | +4,386% |
| Taxes, remuneration and social security | 45 | €135,375 | €87,497 | -€47,879 | -35.4% |
| Taxes | 450/3 | €92,236 | €26,742 | -€65,494 | -71.0% |
| Remuneration and social security | 454/9 | €43,140 | €60,755 | +€17,615 | +40.8% |
| Other amounts payable | 47/48 | €991,644 | €755,674 | -€235,970 | -23.8% |
| Accrued charges and deferred income | 492/3 | €0 | €69 | +€69 | |
| Remuneration, social security and pensions | 62 | €184,075 | €294,157 | +€110,082 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €863 | €1,085 | +€222 | +25.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €30,000 | +€30,000 | |
| Other operating charges | 640/8 | €4,896 | €1,944 | -€2,952 | -60.3% |
| Gross operating margin | 9900 | €2,590,412 | €1,498,573 | -€1.1m | -42.1% |
| Operating profit (loss) | 9901 | €2,400,577 | €1,171,386 | -€1.2m | -51.2% |
| Financial income | 75/76B | €16,868 | €14,672 | -€2,196 | -13.0% |
| Recurring financial income | 75 | €16,868 | €14,672 | -€2,196 | -13.0% |
| Financial charges | 65/66B | €1,505 | €5,811 | +€4,306 | +286% |
| Recurring financial charges | 65 | €1,505 | €5,811 | +€4,306 | +286% |
| Profit (loss) for the period before taxes | 9903 | €2,415,940 | €1,180,247 | -€1.2m | -51.1% |
| Income taxes | 67/77 | €382,045 | €305,534 | -€76,511 | -20.0% |
| Profit (loss) for the period | 9904 | €2,033,895 | €874,713 | -€1.2m | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,033,895 | €874,713 | -€1.2m | -57.0% |
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 19 October 2026 via checked.be.