F & R: 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.
F & R
Largest movements
- Cash +€17,976
up €17,976 (+22.6%), from €79,669 to €97,645
mainly Depreciation (+€111,950) and Net result for the year (+€72,832)
- Reserves +€72,832
up €72,832 (+17.4%), from €417,994 to €490,826
- Trade debts -€54,289
down €54,289 (-57.0%), from €95,167 to €40,878
- Debts after one year -€49,882
down €49,882 (-11.8%), from €424,385 to €374,503
- Current portion of long-term debt +€43,666
up €43,666 (+48.2%), from €90,532 to €134,198
- Tax, wage and social debts +€22,785
up €22,785 (+104.6%), from €21,788 to €44,573
of which Taxes: +€21,947
- Gross operating margin +€84,001
up €84,001 (+26.6%), from €316,190 to €400,190
- Staff costs +€15,857
up €15,857 (+10.3%), from €154,088 to €169,945
- Depreciation +€15,172
up €15,172 (+15.7%), from €96,778 to €111,950
- Taxes +€13,861
up €13,861 (+216.0%), from €6,416 to €20,276
- Financial charges +€7,090
up €7,090 (+53.6%), from €13,221 to €20,311
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 | €1,067,784 | €1,093,532 | +€25,748 | +2.4% |
| Fixed assets | 21/28 | €863,672 | €865,671 | +€1,999 | +0.2% |
| Tangible fixed assets | 22/27 | €828,672 | €830,671 | +€1,999 | +0.2% |
| Land and buildings | 22 | €423,191 | €443,511 | +€20,320 | +4.8% |
| Plant, machinery and equipment | 23 | €219,035 | €189,463 | -€29,573 | -13.5% |
| Furniture and vehicles | 24 | €17,268 | €25,047 | +€7,779 | +45.0% |
| Leasing and similar rights | 25 | €169,177 | €172,651 | +€3,473 | +2.1% |
| Financial fixed assets | 28 | €35,000 | €35,000 | = | 0.0% |
| Current assets | 29/58 | €204,112 | €227,860 | +€23,749 | +11.6% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,000 | €7,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €3,500 | €3,500 | = | 0.0% |
| Stocks | 30/36 | €3,500 | €3,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,819 | €118,861 | +€7,041 | +6.3% |
| Trade receivables | 40 | €105,735 | €97,956 | -€7,779 | -7.4% |
| Other amounts receivable | 41 | €6,084 | €20,905 | +€14,820 | +243.6% |
| Cash at bank and in hand | 54/58 | €79,669 | €97,645 | +€17,976 | +22.6% |
| Deferred charges and accrued income | 490/1 | €2,123 | €854 | -€1,269 | -59.8% |
| Total equity and liabilities | 10/49 | €1,067,784 | €1,093,532 | +€25,748 | +2.4% |
| Equity | 10/15 | €424,194 | €497,026 | +€72,832 | +17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €417,994 | €490,826 | +€72,832 | +17.4% |
| Distributable reserves | 133 | €417,994 | €490,826 | +€72,832 | +17.4% |
| Amounts payable | 17/49 | €643,590 | €596,506 | -€47,084 | -7.3% |
| Amounts payable after more than one year | 17 | €424,385 | €374,503 | -€49,882 | -11.8% |
| Financial debts | 170/4 | €424,385 | €374,503 | -€49,882 | -11.8% |
| Amounts payable within one year | 42/48 | €210,685 | €220,150 | +€9,466 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €90,532 | €134,198 | +€43,666 | +48.2% |
| Trade debts | 44 | €95,167 | €40,878 | -€54,289 | -57.0% |
| Suppliers | 440/4 | €95,167 | €40,878 | -€54,289 | -57.0% |
| Taxes, remuneration and social security | 45 | €21,788 | €44,573 | +€22,785 | +104.6% |
| Taxes | 450/3 | €3,928 | €25,875 | +€21,947 | +558.8% |
| Remuneration and social security | 454/9 | €17,860 | €18,697 | +€837 | +4.7% |
| Other amounts payable | 47/48 | €3,198 | €502 | -€2,696 | -84.3% |
| Accrued charges and deferred income | 492/3 | €8,521 | €1,852 | -€6,668 | -78.3% |
| Non-recurring operating income | 76A | - | €18,832 | +€18,832 | |
| Remuneration, social security and pensions | 62 | €154,088 | €169,945 | +€15,857 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,778 | €111,950 | +€15,172 | +15.7% |
| Other operating charges | 640/8 | €4,696 | €5,502 | +€806 | +17.2% |
| Non-recurring operating charges | 66A | €13,129 | - | -€13,129 | |
| Gross operating margin | 9900 | €316,190 | €400,190 | +€84,001 | +26.6% |
| Operating profit (loss) | 9901 | €47,498 | €112,794 | +€65,295 | +137.5% |
| Financial income | 75/76B | €328 | €626 | +€297 | +90.6% |
| Recurring financial income | 75 | €328 | €626 | +€297 | +90.6% |
| Financial charges | 65/66B | €13,221 | €20,311 | +€7,090 | +53.6% |
| Recurring financial charges | 65 | €13,221 | €20,311 | +€7,090 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €34,606 | €93,109 | +€58,503 | +169.1% |
| Income taxes | 67/77 | €6,416 | €20,276 | +€13,861 | +216.0% |
| Profit (loss) for the period | 9904 | €28,190 | €72,832 | +€44,642 | +158.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,190 | €72,832 | +€44,642 | +158.4% |
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 9 October 2026 via checked.be.