D. TRENDS: 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.
D. TRENDS
Largest movements
- Cash +€15,746
up €15,746 (+9.2%), from €171,870 to €187,616
mainly Net result for the year (+€20,116) and Stocks and contracts (+€332)
- Reserves +€20,116
up €20,116 (+14.6%), from €138,036 to €158,152
- Other debts -€4,306
down €4,306 (-17.4%), from €24,757 to €20,451
- Gross operating margin -€8,902
down €8,902 (-22.6%), from €39,349 to €30,447
- Taxes -€2,835
down €2,835 (-22.9%), from €12,359 to €9,525
- Financial income +€794
up €794 (+358.3%), from €222 to €1,016
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 | €178,363 | €194,469 | +€16,105 | +9.0% |
| Fixed assets | 21/28 | €482 | €385 | -€98 | -20.3% |
| Tangible fixed assets | 22/27 | €309 | €212 | -€98 | -31.6% |
| Furniture and vehicles | 24 | €309 | €212 | -€98 | -31.6% |
| Financial fixed assets | 28 | €173 | €173 | = | 0.0% |
| Current assets | 29/58 | €177,881 | €194,084 | +€16,203 | +9.1% |
| Stocks and contracts in progress | 3 | €581 | €249 | -€332 | -57.1% |
| Stocks | 30/36 | €581 | €249 | -€332 | -57.1% |
| Amounts receivable within one year | 40/41 | €3,274 | €4,151 | +€877 | +26.8% |
| Trade receivables | 40 | €222 | €2,620 | +€2,398 | +1078.0% |
| Other amounts receivable | 41 | €3,052 | €1,531 | -€1,521 | -49.8% |
| Cash at bank and in hand | 54/58 | €171,870 | €187,616 | +€15,746 | +9.2% |
| Deferred charges and accrued income | 490/1 | €2,157 | €2,069 | -€88 | -4.1% |
| Total equity and liabilities | 10/49 | €178,363 | €194,469 | +€16,105 | +9.0% |
| Equity | 10/15 | €152,296 | €172,412 | +€20,116 | +13.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €138,036 | €158,152 | +€20,116 | +14.6% |
| Distributable reserves | 133 | €138,036 | €158,152 | +€20,116 | +14.6% |
| Amounts payable | 17/49 | €26,067 | €22,057 | -€4,011 | -15.4% |
| Amounts payable within one year | 42/48 | €26,067 | €22,057 | -€4,011 | -15.4% |
| Trade debts | 44 | €1,309 | €1,577 | +€268 | +20.5% |
| Suppliers | 440/4 | €1,309 | €1,577 | +€268 | +20.5% |
| Taxes, remuneration and social security | 45 | €1 | €29 | +€27 | +2037.3% |
| Taxes | 450/3 | €1 | €29 | +€27 | +2037.3% |
| Other amounts payable | 47/48 | €24,757 | €20,451 | -€4,306 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €370 | €98 | -€273 | -73.6% |
| Other operating charges | 640/8 | €1,362 | €1,216 | -€146 | -10.7% |
| Gross operating margin | 9900 | €39,349 | €30,447 | -€8,902 | -22.6% |
| Operating profit (loss) | 9901 | €37,616 | €29,133 | -€8,483 | -22.6% |
| Financial income | 75/76B | €222 | €1,016 | +€794 | +358.3% |
| Recurring financial income | 75 | €222 | €1,016 | +€794 | +358.3% |
| Financial charges | 65/66B | €454 | €509 | +€54 | +12.0% |
| Recurring financial charges | 65 | €454 | €509 | +€54 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €37,383 | €29,640 | -€7,743 | -20.7% |
| Income taxes | 67/77 | €12,359 | €9,525 | -€2,835 | -22.9% |
| Profit (loss) for the period | 9904 | €25,024 | €20,116 | -€4,908 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,024 | €20,116 | -€4,908 | -19.6% |
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 3 October 2026 via checked.be.