DEAL: 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.
DEAL
Largest movements
- Current investments +€32,353
new in 2025: €32,353
- Tangible fixed assets +€19,624
up €19,624 (+17.7%), from €110,719 to €130,343
of which Furniture and vehicles: +€18,942
- Receivables within one year +€10,016
up €10,016 (+9.1%), from €109,845 to €119,861
of which Trade receivables: +€27,985
- Cash -€5,969
down €5,969 (-28.3%), from €21,118 to €15,149
mainly Investment in fixed assets (net) (-€38,652) and Current investments (-€32,353)
- Deferred charges and accrued income -€4,140
no longer reported in 2025 (was €4,140)
- Profit (loss) carried forward +€83,755
up €83,755 (+23.1%), from -€362,052 to -€278,297
- Other debts -€13,235
down €13,235 (-2.8%), from €479,016 to €465,781
- Tax, wage and social debts -€11,170
down €11,170 (-47.3%), from €23,612 to €12,441
of which Remuneration and social security: -€8,279
- Debts after one year -€9,133
down €9,133 (-26.3%), from €34,740 to €25,607
- Financial charges -€20,019
down €20,019 (-37.0%), from €54,162 to €34,143
- Gross operating margin +€18,008
up €18,008 (+12.5%), from €143,655 to €161,663
- Depreciation +€7,052
up €7,052 (+58.9%), from €11,976 to €19,028
- Taxes +€3,621
up €3,621 (+18.2%), from €19,909 to €23,529
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 | €255,823 | €307,706 | +€51,883 | +20.3% |
| Fixed assets | 21/28 | €120,719 | €140,343 | +€19,624 | +16.3% |
| Tangible fixed assets | 22/27 | €110,719 | €130,343 | +€19,624 | +17.7% |
| Land and buildings | 22 | €50,741 | €49,988 | -€754 | -1.5% |
| Plant, machinery and equipment | 23 | €6,810 | €8,246 | +€1,436 | +21.1% |
| Furniture and vehicles | 24 | €53,168 | €72,109 | +€18,942 | +35.6% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €135,104 | €167,363 | +€32,259 | +23.9% |
| Amounts receivable within one year | 40/41 | €109,845 | €119,861 | +€10,016 | +9.1% |
| Trade receivables | 40 | €24,026 | €52,011 | +€27,985 | +116% |
| Other amounts receivable | 41 | €85,819 | €67,850 | -€17,969 | -20.9% |
| Current investments | 50/53 | - | €32,353 | +€32,353 | |
| Cash at bank and in hand | 54/58 | €21,118 | €15,149 | -€5,969 | -28.3% |
| Deferred charges and accrued income | 490/1 | €4,140 | - | -€4,140 | |
| Total equity and liabilities | 10/49 | €255,823 | €307,706 | +€51,883 | +20.3% |
| Equity | 10/15 | -€307,347 | -€223,593 | +€83,755 | +27.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €29,705 | €29,705 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €27,205 | €27,205 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€362,052 | -€278,297 | +€83,755 | +23.1% |
| Amounts payable | 17/49 | €563,170 | €531,299 | -€31,871 | -5.7% |
| Amounts payable after more than one year | 17 | €34,740 | €25,607 | -€9,133 | -26.3% |
| Financial debts | 170/4 | €34,740 | €25,607 | -€9,133 | -26.3% |
| Amounts payable within one year | 42/48 | €528,430 | €505,692 | -€22,738 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €22,913 | €23,188 | +€276 | +1.2% |
| Trade debts | 44 | €2,890 | €4,282 | +€1,391 | +48.1% |
| Suppliers | 440/4 | €2,890 | €4,282 | +€1,391 | +48.1% |
| Taxes, remuneration and social security | 45 | €23,612 | €12,441 | -€11,170 | -47.3% |
| Taxes | 450/3 | €15,332 | €12,441 | -€2,891 | -18.9% |
| Remuneration and social security | 454/9 | €8,279 | - | -€8,279 | |
| Other amounts payable | 47/48 | €479,016 | €465,781 | -€13,235 | -2.8% |
| Non-recurring operating income | 76A | €16,293 | - | -€16,293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,976 | €19,028 | +€7,052 | +58.9% |
| Other operating charges | 640/8 | €1,027 | €1,286 | +€260 | +25.3% |
| Gross operating margin | 9900 | €143,655 | €161,663 | +€18,008 | +12.5% |
| Operating profit (loss) | 9901 | €130,652 | €141,348 | +€10,696 | +8.2% |
| Financial income | 75/76B | €31 | €79 | +€48 | +155% |
| Recurring financial income | 75 | €31 | €79 | +€48 | +155% |
| Financial charges | 65/66B | €54,162 | €34,143 | -€20,019 | -37.0% |
| Recurring financial charges | 65 | €54,162 | €34,143 | -€20,019 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €76,521 | €107,284 | +€30,763 | +40.2% |
| Income taxes | 67/77 | €19,909 | €23,529 | +€3,621 | +18.2% |
| Profit (loss) for the period | 9904 | €56,612 | €83,755 | +€27,142 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,612 | €83,755 | +€27,142 | +47.9% |
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 28 October 2026 via checked.be.