Elements: 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.
Elements
Largest movements
- Tangible fixed assets +€412,805
up €412,805 (+516%), from €80,005 to €492,811
of which Land and buildings: +€406,432
- Receivables after one year -€233,782
no longer reported in 2025 (was €233,782)
- Stocks and contracts +€191,393
up €191,393 (+128%), from €149,502 to €340,895
- Receivables within one year -€57,484
down €57,484 (-19.1%), from €301,183 to €243,700
of which Other amounts receivable: -€57,381
- Deferred charges and accrued income -€11,490
down €11,490 (-32.5%), from €35,350 to €23,860
- Other debts +€283,494
up €283,494 (+262%), from €108,053 to €391,547
- Tax, wage and social debts -€26,742
down €26,742 (-66.2%), from €40,416 to €13,673
- Short-term financial debts +€26,070
up €26,070 (+19,962%), from €131 to €26,201
- Debts after one year +€21,736
up €21,736 (+6.2%), from €350,000 to €371,736
- Current portion of long-term debt +€21,728
up €21,728 (+52.5%), from €41,415 to €63,143
- Gross operating margin -€40,025
down €40,025 (-42.7%), from €93,789 to €53,763
- Financial charges -€36,359
down €36,359 (-54.1%), from €67,148 to €30,789
- Depreciation +€19,112
up €19,112 (+2,146%), from €891 to €20,002
- Taxes -€4,818
down €4,818 (-82.1%), from €5,866 to €1,048
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 | €800,137 | €1,109,356 | +€309,219 | +38.6% |
| Fixed assets | 21/28 | €80,005 | €492,811 | +€412,805 | +516% |
| Tangible fixed assets | 22/27 | €80,005 | €492,811 | +€412,805 | +516% |
| Land and buildings | 22 | - | €406,432 | +€406,432 | |
| Furniture and vehicles | 24 | - | €7,264 | +€7,264 | |
| Other tangible fixed assets | 26 | €80,005 | €79,115 | -€891 | -1.1% |
| Current assets | 29/58 | €720,132 | €616,546 | -€103,586 | -14.4% |
| Amounts receivable after more than one year | 29 | €233,782 | - | -€233,782 | |
| Other amounts receivable | 291 | €233,782 | - | -€233,782 | |
| Stocks and contracts in progress | 3 | €149,502 | €340,895 | +€191,393 | +128% |
| Stocks | 30/36 | €149,502 | €340,895 | +€191,393 | +128% |
| Amounts receivable within one year | 40/41 | €301,183 | €243,700 | -€57,484 | -19.1% |
| Trade receivables | 40 | €140,506 | €140,404 | -€102 | -0.1% |
| Other amounts receivable | 41 | €160,677 | €103,296 | -€57,381 | -35.7% |
| Cash at bank and in hand | 54/58 | €314 | €8,091 | +€7,777 | +2,476% |
| Deferred charges and accrued income | 490/1 | €35,350 | €23,860 | -€11,490 | -32.5% |
| Total equity and liabilities | 10/49 | €800,137 | €1,109,356 | +€309,219 | +38.6% |
| Equity | 10/15 | €153,119 | €153,582 | +€463 | +0.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €134,137 | €134,137 | = | 0.0% |
| Distributable reserves | 133 | €134,137 | €134,137 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,982 | €18,445 | +€463 | +2.6% |
| Amounts payable | 17/49 | €647,018 | €955,774 | +€308,756 | +47.7% |
| Amounts payable after more than one year | 17 | €350,000 | €371,736 | +€21,736 | +6.2% |
| Financial debts | 170/4 | €350,000 | €371,736 | +€21,736 | +6.2% |
| Amounts payable within one year | 42/48 | €269,512 | €570,976 | +€301,464 | +112% |
| Current portion of amounts payable after more than one year | 42 | €41,415 | €63,143 | +€21,728 | +52.5% |
| Financial debts | 43 | €131 | €26,201 | +€26,070 | +19,962% |
| Credit institutions | 430/8 | €131 | €26,201 | +€26,070 | +19,962% |
| Trade debts | 44 | €70,997 | €76,413 | +€5,416 | +7.6% |
| Suppliers | 440/4 | €70,997 | €76,413 | +€5,416 | +7.6% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €8,500 | - | -€8,500 | |
| Taxes, remuneration and social security | 45 | €40,416 | €13,673 | -€26,742 | -66.2% |
| Taxes | 450/3 | €40,416 | €13,673 | -€26,742 | -66.2% |
| Other amounts payable | 47/48 | €108,053 | €391,547 | +€283,494 | +262% |
| Accrued charges and deferred income | 492/3 | €27,506 | €13,062 | -€14,444 | -52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €891 | €20,002 | +€19,112 | +2,146% |
| Other operating charges | 640/8 | €1,069 | €1,003 | -€66 | -6.2% |
| Gross operating margin | 9900 | €93,789 | €53,763 | -€40,025 | -42.7% |
| Operating profit (loss) | 9901 | €91,830 | €32,758 | -€59,071 | -64.3% |
| Financial income | 75/76B | - | €375 | +€375 | |
| Recurring financial income | 75 | - | €375 | +€375 | |
| Financial charges | 65/66B | €67,148 | €30,789 | -€36,359 | -54.1% |
| Recurring financial charges | 65 | €67,148 | €30,789 | -€36,359 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €24,681 | €2,344 | -€22,337 | -90.5% |
| Income taxes | 67/77 | €5,866 | €1,048 | -€4,818 | -82.1% |
| Profit (loss) for the period | 9904 | €18,815 | €1,296 | -€17,519 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,815 | €1,296 | -€17,519 | -93.1% |
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 20 October 2026 via checked.be.