GLOBAL MOVE: 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.
GLOBAL MOVE
Largest movements
- Financial fixed assets +€69,176
up €69,176 (+23058.7%), from €300 to €69,476
- Receivables within one year +€31,470
up €31,470 (+195.8%), from €16,069 to €47,540
of which Other amounts receivable: +€47,250
- Tangible fixed assets -€6,574
down €6,574 (-2.0%), from €331,027 to €324,454
of which Land and buildings: -€5,724
- Debts after one year +€51,815
up €51,815 (+32.8%), from €158,200 to €210,016
- Other debts +€37,832
up €37,832 (+94.4%), from €40,081 to €77,913
- Profit (loss) carried forward +€18,731
up €18,731 (+31.3%), from €59,753 to €78,484
- Trade debts -€17,163
down €17,163 (-81.3%), from €21,112 to €3,950
- Current portion of long-term debt -€12,539
down €12,539 (-40.4%), from €31,022 to €18,483
- Gross operating margin +€44,591
up €44,591 (+88.3%), from €50,505 to €95,096
- Depreciation +€14,378
up €14,378 (+72.1%), from €19,938 to €34,316
- Financial charges +€12,758
up €12,758 (+119.5%), from €10,675 to €23,433
- Provisions +€6,401
new in 2025: €6,401
- Taxes +€4,030
up €4,030 (+65.3%), from €6,175 to €10,205
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €347,397 | €443,188 | +€95,791 | +27.6% |
| Fixed assets | 21/28 | €331,327 | €393,930 | +€62,602 | +18.9% |
| Tangible fixed assets | 22/27 | €331,027 | €324,454 | -€6,574 | -2.0% |
| Land and buildings | 22 | €329,897 | €324,172 | -€5,724 | -1.7% |
| Plant, machinery and equipment | 23 | €1,131 | €282 | -€849 | -75.1% |
| Financial fixed assets | 28 | €300 | €69,476 | +€69,176 | +23058.7% |
| Current assets | 29/58 | €16,069 | €49,258 | +€33,188 | +206.5% |
| Amounts receivable within one year | 40/41 | €16,069 | €47,540 | +€31,470 | +195.8% |
| Trade receivables | 40 | €15,779 | - | -€15,779 | |
| Other amounts receivable | 41 | €290 | €47,540 | +€47,250 | +16298.1% |
| Cash at bank and in hand | 54/58 | - | €1,718 | +€1,718 | |
| Total equity and liabilities | 10/49 | €347,397 | €443,188 | +€95,791 | +27.6% |
| Equity | 10/15 | €91,691 | €110,422 | +€18,731 | +20.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,338 | €13,338 | = | 0.0% |
| Distributable reserves | 133 | €13,338 | €13,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,753 | €78,484 | +€18,731 | +31.3% |
| Provisions and deferred taxes | 16 | - | €6,401 | +€6,401 | |
| Provisions for liabilities and charges | 160/5 | - | €6,401 | +€6,401 | |
| Other liabilities and charges | 164/5 | - | €6,401 | +€6,401 | |
| Amounts payable | 17/49 | €255,706 | €326,364 | +€70,658 | +27.6% |
| Amounts payable after more than one year | 17 | €158,200 | €210,016 | +€51,815 | +32.8% |
| Financial debts | 170/4 | €158,200 | €210,016 | +€51,815 | +32.8% |
| Amounts payable within one year | 42/48 | €97,506 | €116,349 | +€18,843 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €31,022 | €18,483 | -€12,539 | -40.4% |
| Financial debts | 43 | €874 | €6,000 | +€5,126 | +586.8% |
| Credit institutions | 430/8 | €874 | €6,000 | +€5,126 | +586.8% |
| Trade debts | 44 | €21,112 | €3,950 | -€17,163 | -81.3% |
| Suppliers | 440/4 | €21,112 | €3,950 | -€17,163 | -81.3% |
| Taxes, remuneration and social security | 45 | €4,417 | €10,003 | +€5,586 | +126.5% |
| Taxes | 450/3 | €4,417 | €10,003 | +€5,586 | +126.5% |
| Other amounts payable | 47/48 | €40,081 | €77,913 | +€37,832 | +94.4% |
| Non-recurring operating income | 76A | - | €2,678 | +€2,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,938 | €34,316 | +€14,378 | +72.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €6,401 | +€6,401 | |
| Other operating charges | 640/8 | €384 | €2,701 | +€2,316 | +602.5% |
| Gross operating margin | 9900 | €50,505 | €95,096 | +€44,591 | +88.3% |
| Operating profit (loss) | 9901 | €30,183 | €51,679 | +€21,496 | +71.2% |
| Financial income | 75/76B | €5 | €691 | +€686 | +13713.8% |
| Recurring financial income | 75 | €5 | €691 | +€686 | +13713.8% |
| Financial charges | 65/66B | €10,675 | €23,433 | +€12,758 | +119.5% |
| Recurring financial charges | 65 | €10,675 | €23,433 | +€12,758 | +119.5% |
| Profit (loss) for the period before taxes | 9903 | €19,513 | €28,936 | +€9,423 | +48.3% |
| Income taxes | 67/77 | €6,175 | €10,205 | +€4,030 | +65.3% |
| Profit (loss) for the period | 9904 | €13,338 | €18,731 | +€5,394 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,338 | €18,731 | +€5,394 | +40.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.