COVER: 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.
COVER
Largest movements
- Receivables within one year +€151,412
up €151,412 (+126%), from €119,745 to €271,157
of which Other amounts receivable: +€88,222
- Cash -€76,069
down €76,069 (-22.4%), from €339,095 to €263,026
mainly Receivables within one year (-€151,412) and Contributions, distributions and other (-€50,000)
- Profit (loss) carried forward +€82,125
up €82,125 (+33.7%), from €243,721 to €325,847
- Other debts +€50,032
up €50,032 (+6,620%), from €756 to €50,788
- Trade debts -€38,671
down €38,671 (-54.3%), from €71,168 to €32,497
- Tax, wage and social debts -€15,899
down €15,899 (-30.2%), from €52,641 to €36,742
of which Remuneration and social security: -€14,299
- Gross operating margin +€150,625
up €150,625 (+20.6%), from €731,715 to €882,340
- Staff costs +€138,254
up €138,254 (+25.1%), from €549,853 to €688,107
- Taxes +€18,381
up €18,381 (+56.8%), from €32,349 to €50,730
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 | €550,597 | €623,184 | +€72,588 | +13.2% |
| Fixed assets | 21/28 | €12,472 | €9,484 | -€2,989 | -24.0% |
| Tangible fixed assets | 22/27 | €12,122 | €9,134 | -€2,989 | -24.7% |
| Furniture and vehicles | 24 | €12,122 | €9,134 | -€2,989 | -24.7% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €538,124 | €613,701 | +€75,576 | +14.0% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €119,745 | €271,157 | +€151,412 | +126% |
| Trade receivables | 40 | €13,517 | €76,706 | +€63,189 | +467% |
| Other amounts receivable | 41 | €106,228 | €194,451 | +€88,222 | +83.0% |
| Cash at bank and in hand | 54/58 | €339,095 | €263,026 | -€76,069 | -22.4% |
| Deferred charges and accrued income | 490/1 | €4,284 | €4,518 | +€234 | +5.5% |
| Total equity and liabilities | 10/49 | €550,597 | €623,184 | +€72,588 | +13.2% |
| Equity | 10/15 | €396,032 | €478,157 | +€82,125 | +20.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €133,718 | €133,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Distributable reserves | 133 | €130,000 | €130,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €243,721 | €325,847 | +€82,125 | +33.7% |
| Amounts payable | 17/49 | €154,565 | €145,027 | -€9,538 | -6.2% |
| Amounts payable within one year | 42/48 | €154,565 | €145,027 | -€9,538 | -6.2% |
| Financial debts | 43 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Credit institutions | 430/8 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Trade debts | 44 | €71,168 | €32,497 | -€38,671 | -54.3% |
| Suppliers | 440/4 | €71,168 | €32,497 | -€38,671 | -54.3% |
| Taxes, remuneration and social security | 45 | €52,641 | €36,742 | -€15,899 | -30.2% |
| Taxes | 450/3 | €2,350 | €750 | -€1,600 | -68.1% |
| Remuneration and social security | 454/9 | €50,291 | €35,992 | -€14,299 | -28.4% |
| Other amounts payable | 47/48 | €756 | €50,788 | +€50,032 | +6,620% |
| Remuneration, social security and pensions | 62 | €549,853 | €688,107 | +€138,254 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,645 | €5,413 | +€2,768 | +105% |
| Other operating charges | 640/8 | €10,119 | €6,166 | -€3,953 | -39.1% |
| Gross operating margin | 9900 | €731,715 | €882,340 | +€150,625 | +20.6% |
| Operating profit (loss) | 9901 | €169,098 | €182,654 | +€13,556 | +8.0% |
| Financial income | 75/76B | €13,731 | €5,479 | -€8,252 | -60.1% |
| Recurring financial income | 75 | €2,368 | €1,682 | -€687 | -29.0% |
| Non-recurring financial income | 76B | €11,363 | €3,798 | -€7,565 | -66.6% |
| Financial charges | 65/66B | €2,147 | €5,278 | +€3,131 | +146% |
| Recurring financial charges | 65 | €2,147 | €5,278 | +€3,131 | +146% |
| Profit (loss) for the period before taxes | 9903 | €180,682 | €182,855 | +€2,173 | +1.2% |
| Income taxes | 67/77 | €32,349 | €50,730 | +€18,381 | +56.8% |
| Profit (loss) for the period | 9904 | €148,334 | €132,125 | -€16,208 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €148,334 | €132,125 | -€16,208 | -10.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.