GALLERY 34: 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.
GALLERY 34
Largest movements
- Tangible fixed assets +€35,052
up €35,052 (+96.0%), from €36,530 to €71,582
of which Furniture and vehicles: +€35,998
- Receivables after one year +€25,283
new in 2025: €25,283
- Receivables within one year -€18,676
down €18,676 (-28.3%), from €65,979 to €47,303
of which Other amounts receivable: -€10,593
- Cash -€2,666
down €2,666 (-24.2%), from €11,008 to €8,342
mainly Investment in fixed assets (net) (-€46,588) and Receivables after one year (-€25,283)
- Debts after one year +€24,257
up €24,257 (+102.8%), from €23,589 to €47,846
- Reserves +€17,906
up €17,906 (+52.5%), from €34,115 to €52,021
- Trade debts -€8,983
down €8,983 (-71.6%), from €12,549 to €3,566
- Investment grants +€6,212
new in 2025: €6,212
- Other operating charges -€7,590
down €7,590 (-82.4%), from €9,208 to €1,618
- Taxes +€2,646
up €2,646 (+49.4%), from €5,354 to €8,000
- Financial income +€2,314
up €2,314 (+147.9%), from €1,564 to €3,879
- Gross operating margin +€1,505
up €1,505 (+3.9%), from €38,469 to €39,974
- Depreciation -€937
down €937 (-6.8%), from €13,873 to €12,936
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 | €118,435 | €156,209 | +€37,774 | +31.9% |
| Fixed assets | 21/28 | €40,147 | €73,799 | +€33,652 | +83.8% |
| Intangible fixed assets | 21 | €3,617 | €2,217 | -€1,400 | -38.7% |
| Tangible fixed assets | 22/27 | €36,530 | €71,582 | +€35,052 | +96.0% |
| Plant, machinery and equipment | 23 | €5,064 | €4,844 | -€220 | -4.3% |
| Furniture and vehicles | 24 | €10,510 | €46,508 | +€35,998 | +342.5% |
| Other tangible fixed assets | 26 | €20,955 | €20,229 | -€727 | -3.5% |
| Current assets | 29/58 | €78,288 | €82,410 | +€4,122 | +5.3% |
| Amounts receivable after more than one year | 29 | - | €25,283 | +€25,283 | |
| Other amounts receivable | 291 | - | €25,283 | +€25,283 | |
| Amounts receivable within one year | 40/41 | €65,979 | €47,303 | -€18,676 | -28.3% |
| Trade receivables | 40 | €22,990 | €14,906 | -€8,084 | -35.2% |
| Other amounts receivable | 41 | €42,990 | €32,397 | -€10,593 | -24.6% |
| Cash at bank and in hand | 54/58 | €11,008 | €8,342 | -€2,666 | -24.2% |
| Deferred charges and accrued income | 490/1 | €1,301 | €1,483 | +€182 | +14.0% |
| Total equity and liabilities | 10/49 | €118,435 | €156,209 | +€37,774 | +31.9% |
| Equity | 10/15 | €58,115 | €82,233 | +€24,118 | +41.5% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €34,115 | €52,021 | +€17,906 | +52.5% |
| Distributable reserves | 133 | €34,115 | €52,021 | +€17,906 | +52.5% |
| Investment grants | 15 | - | €6,212 | +€6,212 | |
| Amounts payable | 17/49 | €60,320 | €73,976 | +€13,655 | +22.6% |
| Amounts payable after more than one year | 17 | €23,589 | €47,846 | +€24,257 | +102.8% |
| Financial debts | 170/4 | €23,589 | €47,846 | +€24,257 | +102.8% |
| Amounts payable within one year | 42/48 | €36,731 | €26,130 | -€10,601 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €7,517 | €7,435 | -€82 | -1.1% |
| Trade debts | 44 | €12,549 | €3,566 | -€8,983 | -71.6% |
| Suppliers | 440/4 | €12,549 | €3,566 | -€8,983 | -71.6% |
| Taxes, remuneration and social security | 45 | €16,666 | €15,129 | -€1,536 | -9.2% |
| Taxes | 450/3 | €16,666 | €15,129 | -€1,536 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,873 | €12,936 | -€937 | -6.8% |
| Other operating charges | 640/8 | €9,208 | €1,618 | -€7,590 | -82.4% |
| Gross operating margin | 9900 | €38,469 | €39,974 | +€1,505 | +3.9% |
| Operating profit (loss) | 9901 | €15,388 | €25,421 | +€10,032 | +65.2% |
| Financial income | 75/76B | €1,564 | €3,879 | +€2,314 | +147.9% |
| Recurring financial income | 75 | €1,564 | €3,879 | +€2,314 | +147.9% |
| Financial charges | 65/66B | €1,226 | €1,727 | +€501 | +40.9% |
| Recurring financial charges | 65 | €1,226 | €1,727 | +€501 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €15,727 | €27,573 | +€11,846 | +75.3% |
| Income taxes | 67/77 | €5,354 | €8,000 | +€2,646 | +49.4% |
| Profit (loss) for the period | 9904 | €10,373 | €19,572 | +€9,200 | +88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,373 | €19,572 | +€9,200 | +88.7% |
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 5 October 2026 via checked.be.