CODE: 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.
CODE
Largest movements
- Tangible fixed assets -€11,624
down €11,624 (-11.2%), from €103,575 to €91,950
of which Land and buildings: -€8,771
- Cash +€7,248
up €7,248 (+8.7%), from €83,227 to €90,475
mainly Depreciation (+€14,452) and Trade debts (+€7,101)
- Debts after one year -€13,853
down €13,853 (-20.1%), from €68,861 to €55,008
of which Financial debts: -€13,853
- Trade debts +€7,101
up €7,101 (+69.5%), from €10,212 to €17,313
- Reserves +€3,369
up €3,369 (+3.3%), from €102,171 to €105,540
- Purchases and services +€22,125
up €22,125 (+7.9%), from €281,286 to €303,410
- Turnover +€12,818
up €12,818 (+3.7%), from €346,874 to €359,691
- Gross operating margin -€8,422
down €8,422 (-12.1%), from €69,493 to €61,071
- Staff costs +€6,111
up €6,111 (+22.7%), from €26,910 to €33,021
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 | €225,705 | €221,642 | -€4,063 | -1.8% |
| Fixed assets | 21/28 | €103,825 | €92,450 | -€11,374 | -11.0% |
| Tangible fixed assets | 22/27 | €103,575 | €91,950 | -€11,624 | -11.2% |
| Land and buildings | 22 | €90,832 | €82,061 | -€8,771 | -9.7% |
| Plant, machinery and equipment | 23 | €4,851 | €3,662 | -€1,188 | -24.5% |
| Furniture and vehicles | 24 | €7,892 | €6,227 | -€1,665 | -21.1% |
| Financial fixed assets | 28 | €250 | €500 | +€250 | +100.0% |
| Current assets | 29/58 | €121,880 | €129,192 | +€7,311 | +6.0% |
| Stocks and contracts in progress | 3 | €3,469 | €3,733 | +€264 | +7.6% |
| Stocks | 30/36 | €3,469 | €3,733 | +€264 | +7.6% |
| Amounts receivable within one year | 40/41 | €28,732 | €27,175 | -€1,557 | -5.4% |
| Trade receivables | 40 | €15,243 | €16,027 | +€783 | +5.1% |
| Other amounts receivable | 41 | €13,489 | €11,148 | -€2,340 | -17.4% |
| Cash at bank and in hand | 54/58 | €83,227 | €90,475 | +€7,248 | +8.7% |
| Deferred charges and accrued income | 490/1 | €6,453 | €7,809 | +€1,356 | +21.0% |
| Total equity and liabilities | 10/49 | €225,705 | €221,642 | -€4,063 | -1.8% |
| Equity | 10/15 | €120,771 | €124,140 | +€3,369 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €102,171 | €105,540 | +€3,369 | +3.3% |
| Distributable reserves | 133 | €102,171 | €105,540 | +€3,369 | +3.3% |
| Amounts payable | 17/49 | €104,934 | €97,502 | -€7,432 | -7.1% |
| Amounts payable after more than one year | 17 | €68,861 | €55,008 | -€13,853 | -20.1% |
| Financial debts | 170/4 | €46,707 | €32,854 | -€13,853 | -29.7% |
| Other amounts payable | 178/9 | €22,153 | €22,153 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,073 | €41,977 | +€5,904 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €13,413 | €13,853 | +€440 | +3.3% |
| Trade debts | 44 | €10,212 | €17,313 | +€7,101 | +69.5% |
| Suppliers | 440/4 | €10,212 | €17,313 | +€7,101 | +69.5% |
| Taxes, remuneration and social security | 45 | €2,003 | €1,231 | -€772 | -38.5% |
| Taxes | 450/3 | €1,430 | €658 | -€772 | -54.0% |
| Remuneration and social security | 454/9 | €573 | €573 | = | 0.0% |
| Other amounts payable | 47/48 | €10,445 | €9,580 | -€865 | -8.3% |
| Accrued charges and deferred income | 492/3 | - | €517 | +€517 | |
| Turnover | 70 | €346,874 | €359,691 | +€12,818 | +3.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €281,286 | €303,410 | +€22,125 | +7.9% |
| Remuneration, social security and pensions | 62 | €26,910 | €33,021 | +€6,111 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,729 | €14,452 | -€1,278 | -8.1% |
| Other operating charges | 640/8 | €3,707 | €4,135 | +€428 | +11.5% |
| Gross operating margin | 9900 | €69,493 | €61,071 | -€8,422 | -12.1% |
| Operating profit (loss) | 9901 | €23,147 | €9,463 | -€13,684 | -59.1% |
| Financial income | 75/76B | €182 | €371 | +€189 | +103.9% |
| Recurring financial income | 75 | €182 | €371 | +€189 | +103.9% |
| Financial charges | 65/66B | €4,418 | €4,022 | -€397 | -9.0% |
| Recurring financial charges | 65 | €4,418 | €4,022 | -€397 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €18,911 | €5,813 | -€13,098 | -69.3% |
| Income taxes | 67/77 | €4,555 | €2,444 | -€2,111 | -46.3% |
| Profit (loss) for the period | 9904 | €14,356 | €3,369 | -€10,987 | -76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,356 | €3,369 | -€10,987 | -76.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.