CONTEXT: 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.
CONTEXT
Largest movements
- Cash +€120,561
up €120,561 (+113.8%), from €105,897 to €226,458
mainly Net result for the year (+€96,157) and Current investments (+€61,368)
- Current investments -€61,368
down €61,368 (-34.4%), from €178,150 to €116,782
- Receivables within one year +€42,005
up €42,005 (+16.6%), from €253,088 to €295,093
of which Trade receivables: +€42,005
- Stocks and contracts -€34,351
down €34,351 (-32.2%), from €106,751 to €72,400
- Tangible fixed assets -€17,841
down €17,841 (-12.1%), from €147,254 to €129,413
of which Furniture and vehicles: -€15,992
- Reserves +€68,859
up €68,859 (+13.9%), from €493,981 to €562,840
of which Non-distributable reserves: +€68,859
- Debts after one year -€21,350
down €21,350 (-28.8%), from €74,247 to €52,897
- Trade debts -€20,935
down €20,935 (-22.5%), from €93,226 to €72,291
- Tax, wage and social debts +€13,908
up €13,908 (+22.5%), from €61,903 to €75,811
of which Taxes: +€22,187
- Staff costs -€54,881
down €54,881 (-31.4%), from €174,647 to €119,766
- Gross operating margin -€26,935
down €26,935 (-7.7%), from €351,092 to €324,157
- Financial income -€20,321
down €20,321 (-83.0%), from €24,493 to €4,172
of which Non-recurring financial income: -€18,565
- Financial charges +€18,704
up €18,704 (+183.6%), from €10,189 to €28,893
of which Non-recurring financial charges: +€22,717
- Depreciation +€9,943
up €9,943 (+43.8%), from €22,704 to €32,647
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 | €794,586 | €840,394 | +€45,808 | +5.8% |
| Fixed assets | 21/28 | €147,254 | €129,413 | -€17,841 | -12.1% |
| Tangible fixed assets | 22/27 | €147,254 | €129,413 | -€17,841 | -12.1% |
| Plant, machinery and equipment | 23 | €23,672 | €25,422 | +€1,750 | +7.4% |
| Furniture and vehicles | 24 | €116,668 | €100,676 | -€15,992 | -13.7% |
| Leasing and similar rights | 25 | €6,630 | €3,315 | -€3,315 | -50.0% |
| Other tangible fixed assets | 26 | €284 | - | -€284 | |
| Current assets | 29/58 | €647,332 | €710,981 | +€63,649 | +9.8% |
| Amounts receivable after more than one year | 29 | €248 | €248 | = | 0.0% |
| Other amounts receivable | 291 | €248 | €248 | = | 0.0% |
| Stocks and contracts in progress | 3 | €106,751 | €72,400 | -€34,351 | -32.2% |
| Stocks | 30/36 | €106,751 | €72,400 | -€34,351 | -32.2% |
| Amounts receivable within one year | 40/41 | €253,088 | €295,093 | +€42,005 | +16.6% |
| Trade receivables | 40 | €151,505 | €193,510 | +€42,005 | +27.7% |
| Other amounts receivable | 41 | €101,583 | €101,583 | = | 0.0% |
| Current investments | 50/53 | €178,150 | €116,782 | -€61,368 | -34.4% |
| Cash at bank and in hand | 54/58 | €105,897 | €226,458 | +€120,561 | +113.8% |
| Deferred charges and accrued income | 490/1 | €3,198 | - | -€3,198 | |
| Total equity and liabilities | 10/49 | €794,586 | €840,394 | +€45,808 | +5.8% |
| Equity | 10/15 | €512,573 | €581,432 | +€68,859 | +13.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €493,981 | €562,840 | +€68,859 | +13.9% |
| Non-distributable reserves | 130/1 | €442,185 | €511,044 | +€68,859 | +15.6% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €440,326 | €509,185 | +€68,859 | +15.6% |
| Distributable reserves | 133 | €51,796 | €51,796 | = | 0.0% |
| Amounts payable | 17/49 | €282,013 | €258,962 | -€23,051 | -8.2% |
| Amounts payable after more than one year | 17 | €74,247 | €52,897 | -€21,350 | -28.8% |
| Financial debts | 170/4 | €74,247 | €52,897 | -€21,350 | -28.8% |
| Amounts payable within one year | 42/48 | €207,766 | €206,065 | -€1,701 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €20,331 | €21,350 | +€1,019 | +5.0% |
| Financial debts | 43 | €32,083 | €36,613 | +€4,530 | +14.1% |
| Credit institutions | 430/8 | €32,083 | €36,613 | +€4,530 | +14.1% |
| Trade debts | 44 | €93,226 | €72,291 | -€20,935 | -22.5% |
| Suppliers | 440/4 | €93,226 | €72,291 | -€20,935 | -22.5% |
| Taxes, remuneration and social security | 45 | €61,903 | €75,811 | +€13,908 | +22.5% |
| Taxes | 450/3 | €32,925 | €55,112 | +€22,187 | +67.4% |
| Remuneration and social security | 454/9 | €28,978 | €20,699 | -€8,279 | -28.6% |
| Other amounts payable | 47/48 | €223 | - | -€223 | |
| Remuneration, social security and pensions | 62 | €174,647 | €119,766 | -€54,881 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,704 | €32,647 | +€9,943 | +43.8% |
| Other operating charges | 640/8 | €3,543 | €3,009 | -€534 | -15.1% |
| Gross operating margin | 9900 | €351,092 | €324,157 | -€26,935 | -7.7% |
| Operating profit (loss) | 9901 | €150,198 | €168,735 | +€18,537 | +12.3% |
| Financial income | 75/76B | €24,493 | €4,172 | -€20,321 | -83.0% |
| Recurring financial income | 75 | €5,928 | €4,172 | -€1,756 | -29.6% |
| Non-recurring financial income | 76B | €18,565 | - | -€18,565 | |
| Financial charges | 65/66B | €10,189 | €28,893 | +€18,704 | +183.6% |
| Recurring financial charges | 65 | €10,189 | €6,176 | -€4,013 | -39.4% |
| Non-recurring financial charges | 66B | - | €22,717 | +€22,717 | |
| Profit (loss) for the period before taxes | 9903 | €164,502 | €144,014 | -€20,488 | -12.5% |
| Income taxes | 67/77 | €40,949 | €47,857 | +€6,908 | +16.9% |
| Profit (loss) for the period | 9904 | €123,553 | €96,157 | -€27,396 | -22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €123,553 | €96,157 | -€27,396 | -22.2% |
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 4 October 2026 via checked.be.