EVOLUTION: 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.
EVOLUTION
Largest movements
- Receivables within one year +€42,378
up €42,378 (+64.9%), from €65,329 to €107,707
of which Trade receivables: +€24,256
- Cash +€22,687
up €22,687 (+13058.0%), from €174 to €22,861
mainly Net result for the year (+€42,177) and Trade debts (+€17,130)
- Tangible fixed assets -€11,989
down €11,989 (-8.3%), from €144,648 to €132,659
of which Land and buildings: -€8,222
- Stocks and contracts +€4,600
new in 2025: €4,600
- Profit (loss) carried forward +€42,177
up €42,177 (+37.8%), from €111,687 to €153,864
- Trade debts +€17,130
up €17,130 (+188.3%), from €9,098 to €26,228
- Debts after one year -€9,469
down €9,469 (-13.4%), from €70,899 to €61,430
- Tax, wage and social debts +€7,568
up €7,568 (+175.9%), from €4,302 to €11,870
- Financial charges -€70,453
down €70,453 (-93.9%), from €75,030 to €4,577
- Gross operating margin +€62,401
up €62,401 (+2386.1%), from €2,615 to €65,016
- Other operating charges +€7,015
up €7,015 (+277.0%), from €2,533 to €9,547
- Depreciation -€4,221
down €4,221 (-29.6%), from €14,245 to €10,024
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 | €213,463 | €271,870 | +€58,407 | +27.4% |
| Fixed assets | 21/28 | €145,398 | €133,409 | -€11,989 | -8.2% |
| Tangible fixed assets | 22/27 | €144,648 | €132,659 | -€11,989 | -8.3% |
| Land and buildings | 22 | €134,741 | €126,519 | -€8,222 | -6.1% |
| Plant, machinery and equipment | 23 | €1,742 | €1,108 | -€634 | -36.4% |
| Furniture and vehicles | 24 | €6,342 | €3,574 | -€2,768 | -43.6% |
| Other tangible fixed assets | 26 | €1,822 | €1,458 | -€364 | -20.0% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €68,065 | €138,461 | +€70,396 | +103.4% |
| Stocks and contracts in progress | 3 | - | €4,600 | +€4,600 | |
| Stocks | 30/36 | - | €4,600 | +€4,600 | |
| Amounts receivable within one year | 40/41 | €65,329 | €107,707 | +€42,378 | +64.9% |
| Trade receivables | 40 | €48,141 | €72,398 | +€24,256 | +50.4% |
| Other amounts receivable | 41 | €17,188 | €35,310 | +€18,122 | +105.4% |
| Cash at bank and in hand | 54/58 | €174 | €22,861 | +€22,687 | +13058.0% |
| Deferred charges and accrued income | 490/1 | €2,563 | €3,293 | +€731 | +28.5% |
| Total equity and liabilities | 10/49 | €213,463 | €271,870 | +€58,407 | +27.4% |
| Equity | 10/15 | €120,047 | €162,224 | +€42,177 | +35.1% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,687 | €153,864 | +€42,177 | +37.8% |
| Amounts payable | 17/49 | €93,416 | €109,646 | +€16,230 | +17.4% |
| Amounts payable after more than one year | 17 | €70,899 | €61,430 | -€9,469 | -13.4% |
| Financial debts | 170/4 | €70,899 | €61,430 | -€9,469 | -13.4% |
| Amounts payable within one year | 42/48 | €22,517 | €47,566 | +€25,049 | +111.2% |
| Current portion of amounts payable after more than one year | 42 | €9,117 | €9,469 | +€351 | +3.9% |
| Trade debts | 44 | €9,098 | €26,228 | +€17,130 | +188.3% |
| Suppliers | 440/4 | €9,098 | €26,228 | +€17,130 | +188.3% |
| Taxes, remuneration and social security | 45 | €4,302 | €11,870 | +€7,568 | +175.9% |
| Taxes | 450/3 | €4,302 | €11,870 | +€7,568 | +175.9% |
| Accrued charges and deferred income | 492/3 | - | €650 | +€650 | |
| Non-recurring operating income | 76A | - | €10,536 | +€10,536 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,245 | €10,024 | -€4,221 | -29.6% |
| Other operating charges | 640/8 | €2,533 | €9,547 | +€7,015 | +277.0% |
| Gross operating margin | 9900 | €2,615 | €65,016 | +€62,401 | +2386.1% |
| Operating profit (loss) | 9901 | -€14,162 | €45,445 | +€59,607 | |
| Financial income | 75/76B | €1,750 | €1,534 | -€216 | -12.4% |
| Recurring financial income | 75 | €1,750 | €1,534 | -€216 | -12.4% |
| Financial charges | 65/66B | €75,030 | €4,577 | -€70,453 | -93.9% |
| Recurring financial charges | 65 | €75,030 | €4,577 | -€70,453 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | -€87,442 | €42,402 | +€129,844 | |
| Income taxes | 67/77 | €245 | €225 | -€20 | -8.0% |
| Profit (loss) for the period | 9904 | -€87,687 | €42,177 | +€129,864 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,687 | €42,177 | +€129,864 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.