CODE ZERO: 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 ZERO
Largest movements
- Cash +€23,036
up €23,036 (+43.7%), from €52,678 to €75,715
mainly Net result for the year (+€44,158) and Other debts (+€23,697)
- Tangible fixed assets +€20,448
up €20,448 (+154.3%), from €13,248 to €33,696
of which Furniture and vehicles: +€20,712
- Receivables within one year +€1,624
up €1,624 (+17.9%), from €9,059 to €10,683
of which Trade receivables: +€1,641
- Other debts +€23,697
up €23,697 (+124.6%), from €19,011 to €42,708
- Current portion of long-term debt +€16,447
new in 2025: €16,447
- Profit (loss) carried forward +€4,158
up €4,158 (+18.5%), from €22,422 to €26,581
- Trade debts +€2,659
up €2,659 (+30.7%), from €8,647 to €11,306
- Turnover +€147,142
new in 2025: €147,142
- Purchases and services +€96,140
new in 2025: €96,140
- Gross operating margin +€10,380
up €10,380 (+19.4%), from €53,632 to €64,012
- Depreciation +€2,355
up €2,355 (+77.5%), from €3,039 to €5,394
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 | €85,153 | €131,121 | +€45,967 | +54.0% |
| Fixed assets | 21/28 | €13,328 | €33,777 | +€20,448 | +153.4% |
| Tangible fixed assets | 22/27 | €13,248 | €33,696 | +€20,448 | +154.3% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €1,497 | €22,209 | +€20,712 | +1383.6% |
| Other tangible fixed assets | 26 | €11,751 | €11,487 | -€264 | -2.2% |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €71,825 | €97,344 | +€25,519 | +35.5% |
| Stocks and contracts in progress | 3 | €9,164 | €9,873 | +€709 | +7.7% |
| Stocks | 30/36 | €9,164 | €9,873 | +€709 | +7.7% |
| Amounts receivable within one year | 40/41 | €9,059 | €10,683 | +€1,624 | +17.9% |
| Trade receivables | 40 | €9,020 | €10,660 | +€1,641 | +18.2% |
| Other amounts receivable | 41 | €40 | €23 | -€17 | -42.0% |
| Cash at bank and in hand | 54/58 | €52,678 | €75,715 | +€23,036 | +43.7% |
| Deferred charges and accrued income | 490/1 | €924 | €1,074 | +€150 | +16.2% |
| Total equity and liabilities | 10/49 | €85,153 | €131,121 | +€45,967 | +54.0% |
| Equity | 10/15 | €43,010 | €47,169 | +€4,158 | +9.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Outside capital | 11 | €18,550 | - | -€18,550 | |
| Share premium | 1100/10 | €18,550 | - | -€18,550 | |
| Reserves | 13 | €2,038 | €2,038 | = | 0.0% |
| Tax-exempt reserves | 132 | €183 | €183 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,422 | €26,581 | +€4,158 | +18.5% |
| Amounts payable | 17/49 | €42,143 | €83,952 | +€41,809 | +99.2% |
| Amounts payable within one year | 42/48 | €42,143 | €83,952 | +€41,809 | +99.2% |
| Current portion of amounts payable after more than one year | 42 | - | €16,447 | +€16,447 | |
| Trade debts | 44 | €8,647 | €11,306 | +€2,659 | +30.7% |
| Suppliers | 440/4 | €8,647 | €11,306 | +€2,659 | +30.7% |
| Taxes, remuneration and social security | 45 | €14,485 | €13,491 | -€993 | -6.9% |
| Taxes | 450/3 | €14,485 | €13,491 | -€993 | -6.9% |
| Other amounts payable | 47/48 | €19,011 | €42,708 | +€23,697 | +124.6% |
| Turnover | 70 | - | €147,142 | +€147,142 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €96,140 | +€96,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,039 | €5,394 | +€2,355 | +77.5% |
| Other operating charges | 640/8 | €1,353 | €1,509 | +€156 | +11.5% |
| Gross operating margin | 9900 | €53,632 | €64,012 | +€10,380 | +19.4% |
| Operating profit (loss) | 9901 | €49,240 | €57,109 | +€7,869 | +16.0% |
| Financial income | 75/76B | €3 | €1 | -€2 | -80.4% |
| Recurring financial income | 75 | €3 | €1 | -€2 | -80.4% |
| Financial charges | 65/66B | €484 | €567 | +€83 | +17.2% |
| Recurring financial charges | 65 | €484 | €567 | +€83 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €48,760 | €56,543 | +€7,783 | +16.0% |
| Income taxes | 67/77 | €11,702 | €12,385 | +€683 | +5.8% |
| Profit (loss) for the period | 9904 | €37,058 | €44,158 | +€7,101 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,058 | €44,158 | +€7,101 | +19.2% |
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 30 September 2026 via checked.be.