CORE ONE: 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.
CORE ONE
Largest movements
- Financial fixed assets +€225,000
up €225,000 (+6.6%), from €3.4m to €3.6m
- Cash +€204,273
up €204,273 (+42.7%), from €478,366 to €682,639
mainly Net result for the year (+€466,174) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Reserves +€466,174
up €466,174 (+14.9%), from €3.1m to €3.6m
- Debts after one year -€129,968
down €129,968 (-32.8%), from €396,135 to €266,168
- Financial income -€144,833
down €144,833 (-25.9%), from €559,220 to €414,387
of which Financial income: -€144,833
- Gross operating margin -€22,059
down €22,059 (-21.5%), from €102,614 to €80,555
- Financial charges -€16,509
down €16,509 (-66.2%), from €24,927 to €8,418
- Taxes +€3,413
up €3,413 (+21.5%), from €15,844 to €19,257
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 | €4,270,932 | €4,587,632 | +€316,700 | +7.4% |
| Fixed assets | 21/28 | €3,416,493 | €3,641,493 | +€225,000 | +6.6% |
| Financial fixed assets | 28 | €3,416,493 | €3,641,493 | +€225,000 | +6.6% |
| Current assets | 29/58 | €854,439 | €946,139 | +€91,700 | +10.7% |
| Amounts receivable after more than one year | 29 | €112,499 | €112,499 | = | 0.0% |
| Other amounts receivable | 291 | €112,499 | €112,499 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €56,171 | €50,838 | -€5,333 | -9.5% |
| Trade receivables | 40 | €45,375 | €45,375 | = | 0.0% |
| Other amounts receivable | 41 | €10,796 | €5,463 | -€5,333 | -49.4% |
| Current investments | 50/53 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €478,366 | €682,639 | +€204,273 | +42.7% |
| Deferred charges and accrued income | 490/1 | €7,403 | €163 | -€7,240 | -97.8% |
| Total equity and liabilities | 10/49 | €4,270,932 | €4,587,632 | +€316,700 | +7.4% |
| Equity | 10/15 | €3,666,754 | €4,132,928 | +€466,174 | +12.7% |
| Contributions | 10/11 | €538,445 | €538,445 | = | 0.0% |
| Reserves | 13 | €3,128,310 | €3,594,484 | +€466,174 | +14.9% |
| Distributable reserves | 133 | €3,128,310 | €3,594,484 | +€466,174 | +14.9% |
| Amounts payable | 17/49 | €604,178 | €454,704 | -€149,474 | -24.7% |
| Amounts payable after more than one year | 17 | €396,135 | €266,168 | -€129,968 | -32.8% |
| Financial debts | 170/4 | €396,135 | €266,168 | -€129,968 | -32.8% |
| Amounts payable within one year | 42/48 | €206,175 | €188,536 | -€17,639 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €127,934 | €129,968 | +€2,034 | +1.6% |
| Trade debts | 44 | €43,560 | €43,935 | +€375 | +0.9% |
| Suppliers | 440/4 | €43,560 | €43,935 | +€375 | +0.9% |
| Taxes, remuneration and social security | 45 | €20,619 | €14,633 | -€5,986 | -29.0% |
| Taxes | 450/3 | €20,619 | €14,633 | -€5,986 | -29.0% |
| Other amounts payable | 47/48 | €14,062 | €0 | -€14,062 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,868 | €0 | -€1,868 | -100.0% |
| Other operating charges | 640/8 | €499 | €1,094 | +€594 | +118.9% |
| Gross operating margin | 9900 | €102,614 | €80,555 | -€22,059 | -21.5% |
| Operating profit (loss) | 9901 | €102,115 | €79,462 | -€22,653 | -22.2% |
| Financial income | 75/76B | €559,220 | €414,387 | -€144,833 | -25.9% |
| Recurring financial income | 75 | €559,220 | €414,387 | -€144,833 | -25.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €24,927 | €8,418 | -€16,509 | -66.2% |
| Recurring financial charges | 65 | €24,927 | €8,418 | -€16,509 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | €636,408 | €485,431 | -€150,977 | -23.7% |
| Income taxes | 67/77 | €15,844 | €19,257 | +€3,413 | +21.5% |
| Profit (loss) for the period | 9904 | €620,564 | €466,174 | -€154,390 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €620,564 | €466,174 | -€154,390 | -24.9% |
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 7 October 2026 via checked.be.