EQUITY@WORK: 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.
EQUITY@WORK
Largest movements
- Receivables within one year +€596,556
up €596,556 (+399%), from €149,510 to €746,066
of which Trade receivables: +€561,926
- Tangible fixed assets +€397,732
up €397,732 (+15.5%), from €2.6m to €3.0m
of which Land and buildings: +€298,996
- Cash -€352,875
down €352,875 (-57.1%), from €617,487 to €264,611
mainly Receivables within one year (-€596,556) and Investment in fixed assets (net) (-€516,521)
- Reserves +€506,916
up €506,916 (+27.8%), from €1.8m to €2.3m
of which Distributable reserves: +€301,744
- Tax, wage and social debts +€86,632
up €86,632 (+117%), from €74,183 to €160,815
- Gross operating margin +€402,163
up €402,163 (+81.5%), from €493,226 to €895,388
- Taxes +€132,460
up €132,460 (+155%), from €85,199 to €217,658
- Depreciation -€67,729
down €67,729 (-36.3%), from €186,518 to €118,789
- Financial charges +€23,949
up €23,949 (+68.9%), from €34,765 to €58,714
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 | €3,335,946 | €3,977,937 | +€641,992 | +19.2% |
| Fixed assets | 21/28 | €2,562,931 | €2,960,663 | +€397,732 | +15.5% |
| Tangible fixed assets | 22/27 | €2,562,931 | €2,960,663 | +€397,732 | +15.5% |
| Land and buildings | 22 | €2,535,005 | €2,834,001 | +€298,996 | +11.8% |
| Plant, machinery and equipment | 23 | €15,066 | €17,545 | +€2,479 | +16.5% |
| Furniture and vehicles | 24 | €12,859 | €109,117 | +€96,257 | +749% |
| Current assets | 29/58 | €773,015 | €1,017,274 | +€244,259 | +31.6% |
| Amounts receivable within one year | 40/41 | €149,510 | €746,066 | +€596,556 | +399% |
| Trade receivables | 40 | €144,790 | €706,716 | +€561,926 | +388% |
| Other amounts receivable | 41 | €4,720 | €39,350 | +€34,630 | +734% |
| Cash at bank and in hand | 54/58 | €617,487 | €264,611 | -€352,875 | -57.1% |
| Deferred charges and accrued income | 490/1 | €6,018 | €6,597 | +€579 | +9.6% |
| Total equity and liabilities | 10/49 | €3,335,946 | €3,977,937 | +€641,992 | +19.2% |
| Equity | 10/15 | €1,843,163 | €2,350,079 | +€506,916 | +27.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,824,563 | €2,331,479 | +€506,916 | +27.8% |
| Tax-exempt reserves | 132 | €121,456 | €326,627 | +€205,172 | +169% |
| Distributable reserves | 133 | €1,703,107 | €2,004,851 | +€301,744 | +17.7% |
| Provisions and deferred taxes | 16 | €40,485 | €38,709 | -€1,776 | -4.4% |
| Deferred taxes | 168 | €40,485 | €38,709 | -€1,776 | -4.4% |
| Amounts payable | 17/49 | €1,452,298 | €1,589,150 | +€136,852 | +9.4% |
| Amounts payable after more than one year | 17 | €1,088,698 | €1,112,511 | +€23,813 | +2.2% |
| Financial debts | 170/4 | €1,088,698 | €1,112,511 | +€23,813 | +2.2% |
| Amounts payable within one year | 42/48 | €338,407 | €435,316 | +€96,909 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €113,333 | €144,062 | +€30,729 | +27.1% |
| Trade debts | 44 | €66,558 | €84,160 | +€17,602 | +26.4% |
| Suppliers | 440/4 | €66,558 | €84,160 | +€17,602 | +26.4% |
| Taxes, remuneration and social security | 45 | €74,183 | €160,815 | +€86,632 | +117% |
| Taxes | 450/3 | €74,183 | €160,815 | +€86,632 | +117% |
| Other amounts payable | 47/48 | €84,333 | €46,279 | -€38,055 | -45.1% |
| Accrued charges and deferred income | 492/3 | €25,193 | €41,323 | +€16,130 | +64.0% |
| Non-recurring operating income | 76A | €28,310 | €495 | -€27,815 | -98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,518 | €118,789 | -€67,729 | -36.3% |
| Other operating charges | 640/8 | €9,276 | €6,649 | -€2,627 | -28.3% |
| Gross operating margin | 9900 | €493,226 | €895,388 | +€402,163 | +81.5% |
| Operating profit (loss) | 9901 | €297,431 | €769,950 | +€472,519 | +159% |
| Financial income | 75/76B | €3,983 | €11,563 | +€7,580 | +190% |
| Recurring financial income | 75 | €3,983 | €11,563 | +€7,580 | +190% |
| Financial charges | 65/66B | €34,765 | €58,714 | +€23,949 | +68.9% |
| Recurring financial charges | 65 | €34,765 | €58,714 | +€23,949 | +68.9% |
| Profit (loss) for the period before taxes | 9903 | €266,649 | €722,798 | +€456,149 | +171% |
| Transfer from deferred taxes | 780 | €1,780 | €1,776 | -€4 | -0.2% |
| Income taxes | 67/77 | €85,199 | €217,658 | +€132,460 | +155% |
| Profit (loss) for the period | 9904 | €183,231 | €506,916 | +€323,685 | +177% |
| Transfer from tax-exempt reserves | 789 | €5,341 | €5,328 | -€12 | -0.2% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €188,571 | €301,744 | +€113,173 | +60.0% |
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 16 October 2026 via checked.be.