Double-V: 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.
Double-V
Largest movements
- Stocks and contracts -€24,265
down €24,265 (-9.2%), from €264,519 to €240,254
- Cash -€6,189
down €6,189 (-52.2%), from €11,849 to €5,660
mainly Debts after one year (-€40,000) and Trade debts (-€7,599)
- Debts after one year -€40,000
down €40,000 (-40.0%), from €100,000 to €60,000
- Profit (loss) carried forward +€19,462
up €19,462 (+69.4%), from -€28,043 to -€8,581
- Trade debts -€7,599
down €7,599 (-71.8%), from €10,581 to €2,982
- Gross operating margin +€15,131
up €15,131 (+208.0%), from €7,276 to €22,407
- Financial charges -€4,772
down €4,772 (-72.9%), from €6,542 to €1,770
- Other operating charges -€4,772
no longer reported in 2025 (was €4,772)
- Taxes +€1,648
new in 2025: €1,648
- Depreciation +€237
up €237 (+111.0%), from €213 to €450
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 | €284,462 | €256,049 | -€28,413 | -10.0% |
| Fixed assets | 21/28 | €1,707 | €1,257 | -€450 | -26.3% |
| Tangible fixed assets | 22/27 | €1,137 | €687 | -€450 | -39.6% |
| Land and buildings | 22 | - | €687 | +€687 | |
| Plant, machinery and equipment | 23 | €1,137 | - | -€1,137 | |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €282,756 | €254,792 | -€27,964 | -9.9% |
| Stocks and contracts in progress | 3 | €264,519 | €240,254 | -€24,265 | -9.2% |
| Stocks | 30/36 | €264,519 | €240,254 | -€24,265 | -9.2% |
| Amounts receivable within one year | 40/41 | €6,388 | €8,878 | +€2,490 | +39.0% |
| Trade receivables | 40 | €4,794 | €5,668 | +€874 | +18.2% |
| Other amounts receivable | 41 | €1,594 | €3,210 | +€1,616 | +101.4% |
| Cash at bank and in hand | 54/58 | €11,849 | €5,660 | -€6,189 | -52.2% |
| Total equity and liabilities | 10/49 | €284,462 | €256,049 | -€28,413 | -10.0% |
| Equity | 10/15 | €171,957 | €191,419 | +€19,462 | +11.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,043 | -€8,581 | +€19,462 | +69.4% |
| Amounts payable | 17/49 | €112,506 | €64,630 | -€47,876 | -42.6% |
| Amounts payable after more than one year | 17 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Financial debts | 170/4 | €100,000 | €60,000 | -€40,000 | -40.0% |
| Amounts payable within one year | 42/48 | €12,506 | €4,630 | -€7,876 | -63.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,581 | €2,982 | -€7,599 | -71.8% |
| Suppliers | 440/4 | €10,581 | €2,982 | -€7,599 | -71.8% |
| Taxes, remuneration and social security | 45 | €1,925 | €1,648 | -€277 | -14.4% |
| Taxes | 450/3 | €1,925 | €1,648 | -€277 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €450 | +€237 | +111.0% |
| Other operating charges | 640/8 | €4,772 | - | -€4,772 | |
| Gross operating margin | 9900 | €7,276 | €22,407 | +€15,131 | +208.0% |
| Operating profit (loss) | 9901 | €2,291 | €21,957 | +€19,666 | +858.6% |
| Financial income | 75/76B | €1,120 | €923 | -€197 | -17.6% |
| Recurring financial income | 75 | €1,120 | €923 | -€197 | -17.6% |
| Financial charges | 65/66B | €6,542 | €1,770 | -€4,772 | -72.9% |
| Recurring financial charges | 65 | €6,542 | €1,770 | -€4,772 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,132 | €21,110 | +€24,242 | |
| Income taxes | 67/77 | - | €1,648 | +€1,648 | |
| Profit (loss) for the period | 9904 | -€3,132 | €19,462 | +€22,594 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,132 | €19,462 | +€22,594 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.