CONCEPTS: what changed
CONCEPTS
Largest movements
- Cash +€34,938
up €34,938 (+36.1%), from €96,651 to €131,589
mainly Net result for the year (+€26,071) and Depreciation (+€18,243)
- Stocks and contracts +€18,299
up €18,299 (+7.8%), from €234,288 to €252,587
- Tangible fixed assets -€18,243
down €18,243 (-32.5%), from €56,135 to €37,893
of which Furniture and vehicles: -€13,398
- Receivables within one year -€5,486
down €5,486 (-20.6%), from €26,644 to €21,158
of which Trade receivables: -€8,416
- Reserves +€26,071
up €26,071 (+13.1%), from €199,492 to €225,563
of which Distributable reserves: +€26,071
- Advances received -€5,040
down €5,040 (-100%), from €5,040 to €0
- Gross operating margin +€27,194
up €27,194 (+62.8%), from €43,280 to €70,474
- Taxes +€7,087
up €7,087 (+95.3%), from €7,435 to €14,522
- Financial charges +€5,311
up €5,311 (+53.1%), from €10,009 to €15,320
- Depreciation +€3,933
up €3,933 (+27.5%), from €14,310 to €18,243
- Financial income +€2,080
up €2,080 (+68.2%), from €3,051 to €5,131
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €413,802 | €443,310 | +€29,508 | +7.1% |
| Fixed assets | 21/28 | €56,219 | €37,977 | -€18,243 | -32.4% |
| Tangible fixed assets | 22/27 | €56,135 | €37,893 | -€18,243 | -32.5% |
| Land and buildings | 22 | €17,672 | €13,167 | -€4,505 | -25.5% |
| Plant, machinery and equipment | 23 | €1,489 | €1,150 | -€339 | -22.8% |
| Furniture and vehicles | 24 | €36,974 | €23,576 | -€13,398 | -36.2% |
| Financial fixed assets | 28 | €84 | €84 | = | 0.0% |
| Current assets | 29/58 | €357,583 | €405,334 | +€47,751 | +13.4% |
| Stocks and contracts in progress | 3 | €234,288 | €252,587 | +€18,299 | +7.8% |
| Stocks | 30/36 | €234,288 | €252,587 | +€18,299 | +7.8% |
| Amounts receivable within one year | 40/41 | €26,644 | €21,158 | -€5,486 | -20.6% |
| Trade receivables | 40 | €24,008 | €15,592 | -€8,416 | -35.1% |
| Other amounts receivable | 41 | €2,636 | €5,566 | +€2,930 | +111% |
| Cash at bank and in hand | 54/58 | €96,651 | €131,589 | +€34,938 | +36.1% |
| Total equity and liabilities | 10/49 | €413,802 | €443,310 | +€29,508 | +7.1% |
| Equity | 10/15 | €221,844 | €247,915 | +€26,071 | +11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €199,492 | €225,563 | +€26,071 | +13.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €199,492 | €225,563 | +€26,071 | +13.1% |
| Profit (loss) carried forward | 14 | €3,752 | €3,752 | = | 0.0% |
| Amounts payable | 17/49 | €191,959 | €195,395 | +€3,437 | +1.8% |
| Amounts payable within one year | 42/48 | €182,527 | €182,491 | -€36 | 0.0% |
| Trade debts | 44 | €758 | €2,253 | +€1,495 | +197% |
| Suppliers | 440/4 | €758 | €2,253 | +€1,495 | +197% |
| Advances received on contracts in progress | 46 | €5,040 | €0 | -€5,040 | -100% |
| Taxes, remuneration and social security | 45 | €4,519 | €4,310 | -€209 | -4.6% |
| Taxes | 450/3 | €3,694 | €4,310 | +€616 | +16.7% |
| Remuneration and social security | 454/9 | €825 | €0 | -€825 | -100% |
| Other amounts payable | 47/48 | €172,211 | €175,928 | +€3,717 | +2.2% |
| Accrued charges and deferred income | 492/3 | €9,431 | €12,904 | +€3,473 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,310 | €18,243 | +€3,933 | +27.5% |
| Other operating charges | 640/8 | €1,754 | €1,449 | -€305 | -17.4% |
| Gross operating margin | 9900 | €43,280 | €70,474 | +€27,194 | +62.8% |
| Operating profit (loss) | 9901 | €27,216 | €50,782 | +€23,566 | +86.6% |
| Financial income | 75/76B | €3,051 | €5,131 | +€2,080 | +68.2% |
| Recurring financial income | 75 | €3,051 | €5,131 | +€2,080 | +68.2% |
| Financial charges | 65/66B | €10,009 | €15,320 | +€5,311 | +53.1% |
| Recurring financial charges | 65 | €10,009 | €15,320 | +€5,311 | +53.1% |
| Profit (loss) for the period before taxes | 9903 | €20,258 | €40,593 | +€20,336 | +100% |
| Income taxes | 67/77 | €7,435 | €14,522 | +€7,087 | +95.3% |
| Profit (loss) for the period | 9904 | €12,823 | €26,071 | +€13,249 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €12,823 | €26,071 | +€13,249 | +103% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.