FORUM: 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.
FORUM
Largest movements
- Receivables within one year +€50,946
up €50,946 (+72.2%), from €70,552 to €121,498
of which Other amounts receivable: +€29,398
- Cash -€16,540
down €16,540 (-98.4%), from €16,801 to €261
mainly Receivables within one year (-€50,946) and Investment in fixed assets (net) (-€7,386)
- Deferred charges and accrued income -€3,050
down €3,050 (-100%), from €3,050 to €0
- Trade debts +€9,140
up €9,140 (+74.3%), from €12,293 to €21,433
- Current portion of long-term debt +€8,339
up €8,339 (+87.7%), from €9,506 to €17,845
- Profit (loss) carried forward +€7,107
up €7,107, from -€414 to €6,693
- Short-term financial debts +€5,126
up €5,126 (+28.0%), from €18,321 to €23,448
- Debts after one year +€4,957
up €4,957 (+78.8%), from €6,290 to €11,247
- Gross operating margin -€13,039
down €13,039 (-30.5%), from €42,763 to €29,723
- Financial charges +€5,298
up €5,298 (+72.6%), from €7,300 to €12,598
- Taxes +€3,424
up €3,424 (+561%), from €611 to €4,035
- Financial income +€1,333
up €1,333 (+43.5%), from €3,065 to €4,398
- Other operating charges -€775
down €775 (-22.7%), from €3,409 to €2,633
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 | €115,605 | €145,936 | +€30,331 | +26.2% |
| Fixed assets | 21/28 | €18,539 | €18,177 | -€362 | -2.0% |
| Tangible fixed assets | 22/27 | €18,539 | €18,177 | -€362 | -2.0% |
| Plant, machinery and equipment | 23 | €8,595 | €7,179 | -€1,416 | -16.5% |
| Furniture and vehicles | 24 | €3,388 | €4,209 | +€821 | +24.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €6,556 | €6,789 | +€233 | +3.5% |
| Current assets | 29/58 | €97,066 | €127,759 | +€30,693 | +31.6% |
| Stocks and contracts in progress | 3 | €6,663 | €6,000 | -€663 | -9.9% |
| Stocks | 30/36 | €6,663 | €6,000 | -€663 | -9.9% |
| Amounts receivable within one year | 40/41 | €70,552 | €121,498 | +€50,946 | +72.2% |
| Trade receivables | 40 | €0 | €21,547 | +€21,547 | |
| Other amounts receivable | 41 | €70,552 | €99,951 | +€29,398 | +41.7% |
| Cash at bank and in hand | 54/58 | €16,801 | €261 | -€16,540 | -98.4% |
| Deferred charges and accrued income | 490/1 | €3,050 | €0 | -€3,050 | -100% |
| Total equity and liabilities | 10/49 | €115,605 | €145,936 | +€30,331 | +26.2% |
| Equity | 10/15 | €59,612 | €66,719 | +€7,107 | +11.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €47,626 | €47,626 | = | 0.0% |
| Distributable reserves | 133 | €47,626 | €47,626 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€414 | €6,693 | +€7,107 | |
| Amounts payable | 17/49 | €55,993 | €79,217 | +€23,224 | +41.5% |
| Amounts payable after more than one year | 17 | €6,290 | €11,247 | +€4,957 | +78.8% |
| Financial debts | 170/4 | €6,290 | €11,247 | +€4,957 | +78.8% |
| Amounts payable within one year | 42/48 | €49,703 | €67,970 | +€18,267 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €9,506 | €17,845 | +€8,339 | +87.7% |
| Financial debts | 43 | €18,321 | €23,448 | +€5,126 | +28.0% |
| Credit institutions | 430/8 | €18,321 | €23,448 | +€5,126 | +28.0% |
| Trade debts | 44 | €12,293 | €21,433 | +€9,140 | +74.3% |
| Suppliers | 440/4 | €12,293 | €21,433 | +€9,140 | +74.3% |
| Taxes, remuneration and social security | 45 | €9,582 | €5,244 | -€4,339 | -45.3% |
| Taxes | 450/3 | €9,582 | €5,244 | -€4,339 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,595 | €7,748 | +€153 | +2.0% |
| Other operating charges | 640/8 | €3,409 | €2,633 | -€775 | -22.7% |
| Gross operating margin | 9900 | €42,763 | €29,723 | -€13,039 | -30.5% |
| Operating profit (loss) | 9901 | €31,759 | €19,342 | -€12,417 | -39.1% |
| Financial income | 75/76B | €3,065 | €4,398 | +€1,333 | +43.5% |
| Recurring financial income | 75 | €3,065 | €4,398 | +€1,333 | +43.5% |
| Financial charges | 65/66B | €7,300 | €12,598 | +€5,298 | +72.6% |
| Recurring financial charges | 65 | €7,300 | €12,598 | +€5,298 | +72.6% |
| Profit (loss) for the period before taxes | 9903 | €27,524 | €11,142 | -€16,381 | -59.5% |
| Income taxes | 67/77 | €611 | €4,035 | +€3,424 | +561% |
| Profit (loss) for the period | 9904 | €26,913 | €7,107 | -€19,806 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,913 | €7,107 | -€19,806 | -73.6% |
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 13 October 2026 via checked.be.