FOURTY NINE: what changed
Two fiscal 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.
FOURTY NINE
Largest movements
- Receivables within one year -€96,259
down €96,259 (-80.2%), from €119,961 to €23,702
of which Other amounts receivable: -€108,666
- Cash +€58,967
up €58,967 (+97.2%), from €60,646 to €119,613
mainly Receivables within one year (+€96,259) and Depreciation (+€10,422)
- Tangible fixed assets -€7,942
down €7,942 (-38.6%), from €20,548 to €12,607
of which Furniture and vehicles: -€7,431
- Other debts -€14,506
down €14,506 (-89.9%), from €16,133 to €1,627
- Tax, wage and social debts -€9,522
down €9,522 (-84.8%), from €11,225 to €1,703
- Debts after one year -€6,527
down €6,527 (-100.0%), from €6,527 to €0
- Reserves -€5,586
down €5,586 (-4.0%), from €138,420 to €132,834
of which Distributable reserves: -€5,586
- Short-term financial debts -€5,549
down €5,549 (-73.3%), from €7,569 to €2,020
of which Credit institutions: -€7,569
- Gross operating margin -€25,158
down €25,158 (-73.2%), from €34,349 to €9,191
- Taxes -€7,418
down €7,418 (-77.2%), from €9,605 to €2,186
- Financial income -€4,045
down €4,045 (-100.0%), from €4,045 to €0
- Other operating charges -€547
down €547 (-30.6%), from €1,786 to €1,239
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 | €209,143 | €162,291 | -€46,852 | -22.4% |
| Fixed assets | 21/28 | €25,348 | €17,407 | -€7,942 | -31.3% |
| Tangible fixed assets | 22/27 | €20,548 | €12,607 | -€7,942 | -38.6% |
| Plant, machinery and equipment | 23 | €978 | €615 | -€363 | -37.1% |
| Furniture and vehicles | 24 | €19,276 | €11,845 | -€7,431 | -38.6% |
| Other tangible fixed assets | 26 | €294 | €147 | -€147 | -50.0% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €183,795 | €144,884 | -€38,911 | -21.2% |
| Amounts receivable within one year | 40/41 | €119,961 | €23,702 | -€96,259 | -80.2% |
| Trade receivables | 40 | €3,481 | €15,888 | +€12,407 | +356.4% |
| Other amounts receivable | 41 | €116,480 | €7,814 | -€108,666 | -93.3% |
| Cash at bank and in hand | 54/58 | €60,646 | €119,613 | +€58,967 | +97.2% |
| Deferred charges and accrued income | 490/1 | €3,187 | €1,569 | -€1,618 | -50.8% |
| Total equity and liabilities | 10/49 | €209,143 | €162,291 | -€46,852 | -22.4% |
| Equity | 10/15 | €152,820 | €147,234 | -€5,586 | -3.7% |
| Contributions | 10/11 | €14,400 | €14,400 | = | 0.0% |
| Reserves | 13 | €138,420 | €132,834 | -€5,586 | -4.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €138,420 | €132,834 | -€5,586 | -4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,323 | €15,057 | -€41,266 | -73.3% |
| Amounts payable after more than one year | 17 | €6,527 | €0 | -€6,527 | -100.0% |
| Financial debts | 170/4 | €6,527 | €0 | -€6,527 | -100.0% |
| Amounts payable within one year | 42/48 | €49,796 | €15,057 | -€34,739 | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €7,064 | €6,527 | -€536 | -7.6% |
| Financial debts | 43 | €7,569 | €2,020 | -€5,549 | -73.3% |
| Credit institutions | 430/8 | €7,569 | €0 | -€7,569 | -100.0% |
| Other loans | 439 | - | €2,020 | +€2,020 | |
| Trade debts | 44 | €7,805 | €3,179 | -€4,626 | -59.3% |
| Suppliers | 440/4 | €7,805 | €3,179 | -€4,626 | -59.3% |
| Taxes, remuneration and social security | 45 | €11,225 | €1,703 | -€9,522 | -84.8% |
| Taxes | 450/3 | €11,225 | €1,703 | -€9,522 | -84.8% |
| Other amounts payable | 47/48 | €16,133 | €1,627 | -€14,506 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,164 | €10,422 | +€259 | +2.5% |
| Other operating charges | 640/8 | €1,786 | €1,239 | -€547 | -30.6% |
| Gross operating margin | 9900 | €34,349 | €9,191 | -€25,158 | -73.2% |
| Operating profit (loss) | 9901 | €22,399 | -€2,470 | -€24,869 | |
| Financial income | 75/76B | €4,045 | €0 | -€4,045 | -100.0% |
| Recurring financial income | 75 | €4,045 | €0 | -€4,045 | -100.0% |
| Financial charges | 65/66B | €1,046 | €930 | -€116 | -11.1% |
| Recurring financial charges | 65 | €1,046 | €930 | -€116 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €25,398 | -€3,400 | -€28,798 | |
| Income taxes | 67/77 | €9,605 | €2,186 | -€7,418 | -77.2% |
| Profit (loss) for the period | 9904 | €15,794 | -€5,586 | -€21,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,794 | -€5,586 | -€21,379 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.