Deloitte Finance: 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.
Deloitte Finance
Largest movements
- Current investments +€14.2m
up €14.2m (+60.2%), from €23.6m to €37.9m
- Receivables within one year -€3.6m
down €3.6m (-5.0%), from €72.0m to €68.4m
of which Other amounts receivable: -€3.6m
- Financial fixed assets -€3.2m
down €3.2m (-91.2%), from €3.5m to €306,667
- Deferred charges and accrued income +€1.4m
up €1.4m (+69.0%), from €2.0m to €3.4m
- Short-term financial debts +€36.3m
up €36.3m (+60.1%), from €60.4m to €96.7m
of which Other loans: +€44.3m
- Other debts -€22.5m
down €22.5m (-98.8%), from €22.8m to €284,515
- Debts after one year -€2.6m
down €2.6m (-43.2%), from €6.0m to €3.4m
of which Financial debts: -€3.2m
- Current portion of long-term debt -€2.4m
down €2.4m (-72.6%), from €3.3m to €899,502
- Financial income +€2.9m
up €2.9m (+121%), from €2.4m to €5.2m
- Financial charges +€2.8m
up €2.8m (+181%), from €1.6m to €4.4m
- Turnover +€251,891
up €251,891 (+12.4%), from €2.0m to €2.3m
- Services and other goods -€114,693
down €114,693 (-19.1%), from €601,105 to €486,412
- Staff costs +€100,826
up €100,826 (+10.4%), from €970,076 to €1.1m
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,636,556 | €118,865,278 | +€9.2m | +8.4% |
| Fixed assets | 21/28 | €3,494,762 | €306,667 | -€3.2m | -91.2% |
| Financial fixed assets | 28 | €3,494,762 | €306,667 | -€3.2m | -91.2% |
| Companies linked by participating interests | 282/3 | €3,494,762 | €306,667 | -€3.2m | -91.2% |
| Amounts receivable | 283 | €3,494,762 | €306,667 | -€3.2m | -91.2% |
| Current assets | 29/58 | €106,141,794 | €118,558,611 | +€12.4m | +11.7% |
| Amounts receivable within one year | 40/41 | €71,985,126 | €68,370,584 | -€3.6m | -5.0% |
| Trade receivables | 40 | €372 | - | -€372 | |
| Other amounts receivable | 41 | €71,984,754 | €68,370,584 | -€3.6m | -5.0% |
| Current investments | 50/53 | €23,643,757 | €37,882,007 | +€14.2m | +60.2% |
| Other investments | 51/53 | €23,643,757 | €37,882,007 | +€14.2m | +60.2% |
| Cash at bank and in hand | 54/58 | €8,521,541 | €8,940,668 | +€419,127 | +4.9% |
| Deferred charges and accrued income | 490/1 | €1,991,370 | €3,365,352 | +€1.4m | +69.0% |
| Total equity and liabilities | 10/49 | €109,636,556 | €118,865,278 | +€9.2m | +8.4% |
| Equity | 10/15 | €16,593,044 | €16,887,195 | +€294,151 | +1.8% |
| Contributions | 10/11 | €15,875,000 | €15,875,000 | = | 0.0% |
| Reserves | 13 | €250,000 | €250,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €468,044 | €762,195 | +€294,151 | +62.8% |
| Amounts payable | 17/49 | €93,043,512 | €101,978,083 | +€8.9m | +9.6% |
| Amounts payable after more than one year | 17 | €6,047,901 | €3,436,760 | -€2.6m | -43.2% |
| Financial debts | 170/4 | €3,505,654 | €308,766 | -€3.2m | -91.2% |
| Credit institutions | 173 | €3,505,654 | €308,766 | -€3.2m | -91.2% |
| Other amounts payable | 178/9 | €2,542,247 | €3,127,994 | +€585,747 | +23.0% |
| Amounts payable within one year | 42/48 | €86,823,989 | €98,286,158 | +€11.5m | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €3,282,695 | €899,502 | -€2.4m | -72.6% |
| Financial debts | 43 | €60,429,309 | €96,740,581 | +€36.3m | +60.1% |
| Credit institutions | 430/8 | €33,000,000 | €25,000,000 | -€8.0m | -24.2% |
| Other loans | 439 | €27,429,309 | €71,740,581 | +€44.3m | +162% |
| Trade debts | 44 | €10,725 | €13,839 | +€3,114 | +29.0% |
| Suppliers | 440/4 | €10,725 | €13,839 | +€3,114 | +29.0% |
| Taxes, remuneration and social security | 45 | €317,012 | €347,721 | +€30,709 | +9.7% |
| Taxes | 450/3 | €34,841 | €79,967 | +€45,126 | +130% |
| Remuneration and social security | 454/9 | €282,171 | €267,754 | -€14,417 | -5.1% |
| Other amounts payable | 47/48 | €22,784,247 | €284,515 | -€22.5m | -98.8% |
| Accrued charges and deferred income | 492/3 | €171,622 | €255,165 | +€83,543 | +48.7% |
| Operating income | 70/76A | €2,034,489 | €2,315,329 | +€280,840 | +13.8% |
| Turnover | 70 | €2,024,572 | €2,276,463 | +€251,891 | +12.4% |
| Other operating income | 74 | €9,917 | €38,866 | +€28,949 | +292% |
| Operating charges | 60/66A | €1,578,834 | €1,568,482 | -€10,352 | -0.7% |
| Services and other goods | 61 | €601,105 | €486,412 | -€114,693 | -19.1% |
| Remuneration, social security and pensions | 62 | €970,076 | €1,070,902 | +€100,826 | +10.4% |
| Other operating charges | 640/8 | €7,652 | €11,168 | +€3,516 | +45.9% |
| Operating profit (loss) | 9901 | €455,655 | €746,847 | +€291,192 | +63.9% |
| Financial income | 75/76B | €2,363,484 | €5,235,048 | +€2.9m | +121% |
| Recurring financial income | 75 | €2,363,484 | €5,235,048 | +€2.9m | +121% |
| Income from current assets | 751 | €2,363,484 | €5,226,882 | +€2.9m | +121% |
| Other financial income | 752/9 | - | €8,166 | +€8,166 | |
| Financial charges | 65/66B | €1,554,867 | €4,361,828 | +€2.8m | +181% |
| Recurring financial charges | 65 | €1,554,867 | €4,361,828 | +€2.8m | +181% |
| Debt charges | 650 | €1,219,059 | €3,745,753 | +€2.5m | +207% |
| Other financial charges | 652/9 | €335,808 | €616,075 | +€280,267 | +83.5% |
| Profit (loss) for the period before taxes | 9903 | €1,264,272 | €1,620,067 | +€355,795 | +28.1% |
| Income taxes | 67/77 | €314,000 | €412,693 | +€98,693 | +31.4% |
| Taxes | 670/3 | €314,000 | €413,962 | +€99,962 | +31.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,269 | +€1,269 | |
| Profit (loss) for the period | 9904 | €950,272 | €1,207,374 | +€257,102 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €950,272 | €1,207,374 | +€257,102 | +27.1% |
Source: filed annual accounts (NBB), financial years ended 31 May 2023 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.