COHERENCES: 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.
COHERENCES
Largest movements
- Receivables within one year +€120,171
up €120,171 (+453%), from €26,555 to €146,726
- Cash +€23,721
up €23,721 (+64.1%), from €37,022 to €60,742
mainly Net result for the year (+€90,864) and Trade debts (+€69,025)
- Tangible fixed assets -€5,299
down €5,299 (-5.2%), from €102,243 to €96,945
of which Land and buildings: -€11,032
- Trade debts +€69,025
up €69,025 (+1,135%), from €6,080 to €75,105
- Reserves +€51,864
up €51,864 (+44.9%), from €115,517 to €167,381
of which Distributable reserves: +€53,724
- Other debts +€24,629
up €24,629 (+285%), from €8,644 to €33,272
- Tax, wage and social debts -€5,498
down €5,498 (-29.9%), from €18,371 to €12,873
- Gross operating margin +€95,259
up €95,259 (+191%), from €49,929 to €145,188
- Taxes +€27,355
up €27,355 (+226%), from €12,080 to €39,435
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 | €167,211 | €307,231 | +€140,020 | +83.7% |
| Fixed assets | 21/28 | €102,293 | €96,995 | -€5,299 | -5.2% |
| Tangible fixed assets | 22/27 | €102,243 | €96,945 | -€5,299 | -5.2% |
| Land and buildings | 22 | €99,289 | €88,257 | -€11,032 | -11.1% |
| Plant, machinery and equipment | 23 | - | €5,285 | +€5,285 | |
| Furniture and vehicles | 24 | €2,955 | €3,403 | +€448 | +15.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €64,918 | €210,237 | +€145,318 | +224% |
| Amounts receivable within one year | 40/41 | €26,555 | €146,726 | +€120,171 | +453% |
| Trade receivables | 40 | €26,555 | €146,726 | +€120,171 | +453% |
| Cash at bank and in hand | 54/58 | €37,022 | €60,742 | +€23,721 | +64.1% |
| Deferred charges and accrued income | 490/1 | €1,342 | €2,769 | +€1,427 | +106% |
| Total equity and liabilities | 10/49 | €167,211 | €307,231 | +€140,020 | +83.7% |
| Equity | 10/15 | €134,117 | €185,981 | +€51,864 | +38.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,517 | €167,381 | +€51,864 | +44.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €113,657 | €167,381 | +€53,724 | +47.3% |
| Amounts payable | 17/49 | €33,095 | €121,251 | +€88,156 | +266% |
| Amounts payable within one year | 42/48 | €33,095 | €121,251 | +€88,156 | +266% |
| Trade debts | 44 | €6,080 | €75,105 | +€69,025 | +1,135% |
| Suppliers | 440/4 | €6,080 | €75,105 | +€69,025 | +1,135% |
| Taxes, remuneration and social security | 45 | €18,371 | €12,873 | -€5,498 | -29.9% |
| Taxes | 450/3 | €18,371 | €12,873 | -€5,498 | -29.9% |
| Other amounts payable | 47/48 | €8,644 | €33,272 | +€24,629 | +285% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,035 | €11,826 | +€791 | +7.2% |
| Other operating charges | 640/8 | €2,195 | €1,652 | -€543 | -24.7% |
| Gross operating margin | 9900 | €49,929 | €145,188 | +€95,259 | +191% |
| Operating profit (loss) | 9901 | €36,698 | €131,710 | +€95,012 | +259% |
| Financial income | 75/76B | €23 | €8 | -€15 | -64.3% |
| Recurring financial income | 75 | €23 | €8 | -€15 | -64.3% |
| Financial charges | 65/66B | €1,100 | €1,419 | +€319 | +29.0% |
| Recurring financial charges | 65 | €1,100 | €1,419 | +€319 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €35,621 | €130,299 | +€94,678 | +266% |
| Income taxes | 67/77 | €12,080 | €39,435 | +€27,355 | +226% |
| Profit (loss) for the period | 9904 | €23,541 | €90,864 | +€67,323 | +286% |
| Profit (loss) for the period to be appropriated | 9905 | €23,541 | €90,864 | +€67,323 | +286% |
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 17 October 2026 via checked.be.