COVER 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.
COVER ONE
Largest movements
- Cash -€212,786
down €212,786 (-44.0%), from €483,299 to €270,513
mainly Investment in fixed assets (net) (-€113,938) and Tax, wage and social debts (-€48,861)
- Tangible fixed assets +€86,831
up €86,831 (+337.2%), from €25,748 to €112,578
of which Furniture and vehicles: +€70,555
- Intangible fixed assets -€34,949
down €34,949 (-11.6%), from €301,615 to €266,666
- Receivables after one year +€10,572
up €10,572 (+59.5%), from €17,762 to €28,334
- Receivables within one year -€8,700
down €8,700 (-30.7%), from €28,367 to €19,667
of which Trade receivables: -€11,372
- Tax, wage and social debts -€48,861
down €48,861 (-100.0%), from €48,861 to €0
- Reserves -€46,836
down €46,836 (-6.8%), from €690,220 to €643,384
- Current portion of long-term debt -€37,678
down €37,678 (-85.2%), from €44,233 to €6,555
- Debts after one year -€20,100
down €20,100 (-45.3%), from €44,345 to €24,245
of which Financial debts: -€20,100
- Financial income -€517,680
down €517,680 (-99.3%), from €521,400 to €3,720
of which Financial income: -€517,680
- Taxes -€49,159
down €49,159 (-99.3%), from €49,487 to €328
- Gross operating margin -€36,638
down €36,638 (-74.4%), from €49,228 to €12,590
- Depreciation +€13,995
up €13,995 (+31.6%), from €44,341 to €58,336
- Financial charges -€1,184
down €1,184 (-27.6%), from €4,294 to €3,110
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 | €858,538 | €702,802 | -€155,736 | -18.1% |
| Fixed assets | 21/28 | €327,363 | €382,965 | +€55,602 | +17.0% |
| Intangible fixed assets | 21 | €301,615 | €266,666 | -€34,949 | -11.6% |
| Tangible fixed assets | 22/27 | €25,748 | €112,578 | +€86,831 | +337.2% |
| Plant, machinery and equipment | 23 | €470 | €16,746 | +€16,276 | +3460.0% |
| Furniture and vehicles | 24 | €25,277 | €95,832 | +€70,555 | +279.1% |
| Financial fixed assets | 28 | €0 | €3,720 | +€3,720 | |
| Current assets | 29/58 | €531,175 | €319,837 | -€211,338 | -39.8% |
| Amounts receivable after more than one year | 29 | €17,762 | €28,334 | +€10,572 | +59.5% |
| Other amounts receivable | 291 | €17,762 | €28,334 | +€10,572 | +59.5% |
| Amounts receivable within one year | 40/41 | €28,367 | €19,667 | -€8,700 | -30.7% |
| Trade receivables | 40 | €28,367 | €16,995 | -€11,372 | -40.1% |
| Other amounts receivable | 41 | €0 | €2,672 | +€2,672 | |
| Cash at bank and in hand | 54/58 | €483,299 | €270,513 | -€212,786 | -44.0% |
| Deferred charges and accrued income | 490/1 | €1,747 | €1,324 | -€423 | -24.2% |
| Total equity and liabilities | 10/49 | €858,538 | €702,802 | -€155,736 | -18.1% |
| Equity | 10/15 | €710,680 | €663,844 | -€46,836 | -6.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €690,220 | €643,384 | -€46,836 | -6.8% |
| Distributable reserves | 133 | €690,220 | €643,384 | -€46,836 | -6.8% |
| Amounts payable | 17/49 | €147,857 | €38,958 | -€108,899 | -73.7% |
| Amounts payable after more than one year | 17 | €44,345 | €24,245 | -€20,100 | -45.3% |
| Financial debts | 170/4 | €44,345 | €24,245 | -€20,100 | -45.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €103,512 | €14,713 | -€88,799 | -85.8% |
| Current portion of amounts payable after more than one year | 42 | €44,233 | €6,555 | -€37,678 | -85.2% |
| Trade debts | 44 | €10,418 | €5,590 | -€4,828 | -46.3% |
| Suppliers | 440/4 | €10,418 | €5,590 | -€4,828 | -46.3% |
| Taxes, remuneration and social security | 45 | €48,861 | €0 | -€48,861 | -100.0% |
| Taxes | 450/3 | €48,861 | €0 | -€48,861 | -100.0% |
| Other amounts payable | 47/48 | - | €2,567 | +€2,567 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,341 | €58,336 | +€13,995 | +31.6% |
| Other operating charges | 640/8 | €1,501 | €1,373 | -€129 | -8.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €49,228 | €12,590 | -€36,638 | -74.4% |
| Operating profit (loss) | 9901 | €3,386 | -€47,118 | -€50,504 | |
| Financial income | 75/76B | €521,400 | €3,720 | -€517,680 | -99.3% |
| Recurring financial income | 75 | €521,400 | €3,720 | -€517,680 | -99.3% |
| Non-recurring financial income | 76B | €521,400 | €3,720 | -€517,680 | -99.3% |
| Financial charges | 65/66B | €4,294 | €3,110 | -€1,184 | -27.6% |
| Recurring financial charges | 65 | €4,294 | €3,110 | -€1,184 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €520,493 | -€46,508 | -€567,001 | |
| Income taxes | 67/77 | €49,487 | €328 | -€49,159 | -99.3% |
| Profit (loss) for the period | 9904 | €471,005 | -€46,836 | -€517,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €471,005 | -€46,836 | -€517,842 |
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 8 October 2026 via checked.be.