E40: 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.
E40
Largest movements
- Receivables within one year +€294
up €294 (+9.7%), from €3,040 to €3,334
of which Other amounts receivable: +€389
- Cash -€79
down €79 (-90.6%), from €87 to €8
mainly Net result for the year (-€2,066) and Trade debts (-€1,456)
- Deferred charges and accrued income +€74
new in 2025: €74
- Other debts +€3,930
up €3,930 (+2.9%), from €137,604 to €141,534
- Profit (loss) carried forward -€2,066
down €2,066 (-1.0%), from -€199,618 to -€201,683
- Trade debts -€1,456
down €1,456 (-48.2%), from €3,021 to €1,565
- Accrued charges and deferred income -€120
no longer reported in 2025 (was €120)
- Other operating charges +€83
up €83 (+13.3%), from €627 to €711
- Gross operating margin +€77
up €77 (+6.1%), from -€1,260 to -€1,182
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 | €3,127 | €3,416 | +€289 | +9.2% |
| Current assets | 29/58 | €3,127 | €3,416 | +€289 | +9.2% |
| Amounts receivable within one year | 40/41 | €3,040 | €3,334 | +€294 | +9.7% |
| Trade receivables | 40 | €95 | - | -€95 | |
| Other amounts receivable | 41 | €2,946 | €3,334 | +€389 | +13.2% |
| Cash at bank and in hand | 54/58 | €87 | €8 | -€79 | -90.6% |
| Deferred charges and accrued income | 490/1 | - | €74 | +€74 | |
| Total equity and liabilities | 10/49 | €3,127 | €3,416 | +€289 | +9.2% |
| Equity | 10/15 | -€137,618 | -€139,683 | -€2,066 | -1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€199,618 | -€201,683 | -€2,066 | -1.0% |
| Amounts payable | 17/49 | €140,745 | €143,099 | +€2,354 | +1.7% |
| Amounts payable within one year | 42/48 | €140,625 | €143,099 | +€2,474 | +1.8% |
| Trade debts | 44 | €3,021 | €1,565 | -€1,456 | -48.2% |
| Suppliers | 440/4 | €3,021 | €1,565 | -€1,456 | -48.2% |
| Other amounts payable | 47/48 | €137,604 | €141,534 | +€3,930 | +2.9% |
| Accrued charges and deferred income | 492/3 | €120 | - | -€120 | |
| Other operating charges | 640/8 | €627 | €711 | +€83 | +13.3% |
| Gross operating margin | 9900 | -€1,260 | -€1,182 | +€77 | +6.1% |
| Operating profit (loss) | 9901 | -€1,887 | -€1,893 | -€6 | -0.3% |
| Financial charges | 65/66B | €184 | €172 | -€12 | -6.4% |
| Recurring financial charges | 65 | €184 | €172 | -€12 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,071 | -€2,066 | +€6 | +0.3% |
| Profit (loss) for the period | 9904 | -€2,071 | -€2,066 | +€6 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,071 | -€2,066 | +€6 | +0.3% |
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 1 October 2026 via checked.be.