Definion: 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.
Definion
Largest movements
- Current investments +€170,533
new in 2025: €170,533
- Cash -€32,817
down €32,817 (-30.3%), from €108,168 to €75,352
mainly Current investments (-€170,533) and Investment in fixed assets (net) (-€1,222)
- Receivables within one year -€17,065
down €17,065 (-40.3%), from €42,379 to €25,314
- Tangible fixed assets -€7,615
down €7,615 (-22.0%), from €34,690 to €27,075
- Reserves +€108,805
up €108,805 (+115.4%), from €94,278 to €203,083
- Tax, wage and social debts +€3,126
up €3,126 (+6.1%), from €51,229 to €54,355
- Gross operating margin +€16,423
up €16,423 (+11.5%), from €143,251 to €159,674
- Taxes +€6,293
up €6,293 (+16.3%), from €38,509 to €44,802
- Financial income +€3,078
new in 2025: €3,078
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 | €186,796 | €299,923 | +€113,127 | +60.6% |
| Formation expenses | 20 | €75 | €0 | -€75 | -100.0% |
| Fixed assets | 21/28 | €34,690 | €27,075 | -€7,615 | -22.0% |
| Tangible fixed assets | 22/27 | €34,690 | €27,075 | -€7,615 | -22.0% |
| Furniture and vehicles | 24 | €34,690 | €27,075 | -€7,615 | -22.0% |
| Current assets | 29/58 | €152,031 | €272,848 | +€120,817 | +79.5% |
| Amounts receivable within one year | 40/41 | €42,379 | €25,314 | -€17,065 | -40.3% |
| Trade receivables | 40 | €42,379 | €25,314 | -€17,065 | -40.3% |
| Current investments | 50/53 | - | €170,533 | +€170,533 | |
| Cash at bank and in hand | 54/58 | €108,168 | €75,352 | -€32,817 | -30.3% |
| Deferred charges and accrued income | 490/1 | €1,484 | €1,650 | +€165 | +11.1% |
| Total equity and liabilities | 10/49 | €186,796 | €299,923 | +€113,127 | +60.6% |
| Equity | 10/15 | €129,278 | €238,083 | +€108,805 | +84.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €94,278 | €203,083 | +€108,805 | +115.4% |
| Distributable reserves | 133 | €94,278 | €203,083 | +€108,805 | +115.4% |
| Amounts payable | 17/49 | €57,517 | €61,840 | +€4,323 | +7.5% |
| Amounts payable within one year | 42/48 | €57,517 | €61,840 | +€4,323 | +7.5% |
| Trade debts | 44 | €1,567 | €1,846 | +€279 | +17.8% |
| Suppliers | 440/4 | €1,567 | €1,846 | +€279 | +17.8% |
| Taxes, remuneration and social security | 45 | €51,229 | €54,355 | +€3,126 | +6.1% |
| Taxes | 450/3 | €51,229 | €54,355 | +€3,126 | +6.1% |
| Other amounts payable | 47/48 | €4,722 | €5,639 | +€917 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,252 | €8,912 | -€1,340 | -13.1% |
| Other operating charges | 640/8 | €197 | €189 | -€7 | -3.7% |
| Gross operating margin | 9900 | €143,251 | €159,674 | +€16,423 | +11.5% |
| Operating profit (loss) | 9901 | €132,802 | €150,572 | +€17,770 | +13.4% |
| Financial income | 75/76B | - | €3,078 | +€3,078 | |
| Recurring financial income | 75 | - | €3,078 | +€3,078 | |
| Financial charges | 65/66B | €15 | €44 | +€29 | +199.4% |
| Recurring financial charges | 65 | €15 | €44 | +€29 | +199.4% |
| Profit (loss) for the period before taxes | 9903 | €132,787 | €153,606 | +€20,819 | +15.7% |
| Income taxes | 67/77 | €38,509 | €44,802 | +€6,293 | +16.3% |
| Profit (loss) for the period | 9904 | €94,278 | €108,805 | +€14,526 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €94,278 | €108,805 | +€14,526 | +15.4% |
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 30 September 2026 via checked.be.