GO - 4 - IT: 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.
GO - 4 - IT
Largest movements
- Cash +€105,837
up €105,837 (+181%), from €58,395 to €164,232
mainly Receivables within one year (+€95,435) and Stocks and contracts (+€93,774)
- Receivables within one year -€95,435
down €95,435 (-72.3%), from €132,078 to €36,643
of which Trade receivables: -€92,713
- Stocks and contracts -€93,774
down €93,774 (-76.1%), from €123,201 to €29,427
of which Contracts in progress: -€90,176
- Tangible fixed assets -€42,773
down €42,773 (-12.5%), from €343,322 to €300,548
of which Leasing and similar rights: -€35,752
- Deferred charges and accrued income +€20,150
new in 2025: €20,150
- Tax, wage and social debts -€42,189
down €42,189 (-96.6%), from €43,695 to €1,505
of which Remuneration and social security: -€27,419
- Trade debts -€35,870
down €35,870 (-74.6%), from €48,111 to €12,241
- Debts after one year -€15,890
down €15,890 (-98.8%), from €16,090 to €200
of which Financial debts: -€15,890
- Current portion of long-term debt -€12,630
down €12,630 (-100%), from €12,630 to €0
- Staff costs -€75,144
down €75,144 (-72.2%), from €104,068 to €28,924
- Other operating charges +€10,984
up €10,984 (+359%), from €3,057 to €14,041
- Depreciation +€4,263
up €4,263 (+9.8%), from €43,509 to €47,773
- Gross operating margin -€3,035
down €3,035 (-3.2%), from €96,307 to €93,273
- Taxes +€980
up €980 (+286%), from €343 to €1,324
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 | €657,121 | €551,124 | -€105,996 | -16.1% |
| Fixed assets | 21/28 | €343,447 | €300,673 | -€42,773 | -12.5% |
| Tangible fixed assets | 22/27 | €343,322 | €300,548 | -€42,773 | -12.5% |
| Land and buildings | 22 | €262,732 | €251,251 | -€11,480 | -4.4% |
| Plant, machinery and equipment | 23 | €22,009 | €12,864 | -€9,144 | -41.5% |
| Furniture and vehicles | 24 | €4,002 | €17,605 | +€13,603 | +340% |
| Leasing and similar rights | 25 | €54,580 | €18,828 | -€35,752 | -65.5% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €313,674 | €250,451 | -€63,223 | -20.2% |
| Stocks and contracts in progress | 3 | €123,201 | €29,427 | -€93,774 | -76.1% |
| Stocks | 30/36 | €11,478 | €7,880 | -€3,598 | -31.3% |
| Contracts in progress | 37 | €111,723 | €21,547 | -€90,176 | -80.7% |
| Amounts receivable within one year | 40/41 | €132,078 | €36,643 | -€95,435 | -72.3% |
| Trade receivables | 40 | €105,069 | €12,356 | -€92,713 | -88.2% |
| Other amounts receivable | 41 | €27,009 | €24,287 | -€2,722 | -10.1% |
| Cash at bank and in hand | 54/58 | €58,395 | €164,232 | +€105,837 | +181% |
| Deferred charges and accrued income | 490/1 | - | €20,150 | +€20,150 | |
| Total equity and liabilities | 10/49 | €657,121 | €551,124 | -€105,996 | -16.1% |
| Equity | 10/15 | €434,038 | €437,354 | +€3,316 | +0.8% |
| Contributions | 10/11 | €19,850 | €19,850 | = | 0.0% |
| Reserves | 13 | €407,581 | €410,897 | +€3,316 | +0.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €112,600 | €106,983 | -€5,617 | -5.0% |
| Distributable reserves | 133 | €294,981 | €303,914 | +€8,933 | +3.0% |
| Profit (loss) carried forward | 14 | €6,606 | €6,606 | = | 0.0% |
| Provisions and deferred taxes | 16 | €43,885 | €41,119 | -€2,766 | -6.3% |
| Deferred taxes | 168 | €43,885 | €41,119 | -€2,766 | -6.3% |
| Amounts payable | 17/49 | €179,198 | €72,652 | -€106,546 | -59.5% |
| Amounts payable after more than one year | 17 | €16,090 | €200 | -€15,890 | -98.8% |
| Financial debts | 170/4 | €15,890 | €0 | -€15,890 | -100% |
| Other amounts payable | 178/9 | €200 | €200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €163,108 | €72,452 | -€90,656 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €12,630 | €0 | -€12,630 | -100% |
| Trade debts | 44 | €48,111 | €12,241 | -€35,870 | -74.6% |
| Suppliers | 440/4 | €48,111 | €12,241 | -€35,870 | -74.6% |
| Taxes, remuneration and social security | 45 | €43,695 | €1,505 | -€42,189 | -96.6% |
| Taxes | 450/3 | €16,275 | €1,505 | -€14,770 | -90.7% |
| Remuneration and social security | 454/9 | €27,419 | €0 | -€27,419 | -100% |
| Other amounts payable | 47/48 | €58,672 | €58,705 | +€33 | +0.1% |
| Remuneration, social security and pensions | 62 | €104,068 | €28,924 | -€75,144 | -72.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,509 | €47,773 | +€4,263 | +9.8% |
| Other operating charges | 640/8 | €3,057 | €14,041 | +€10,984 | +359% |
| Gross operating margin | 9900 | €96,307 | €93,273 | -€3,035 | -3.2% |
| Operating profit (loss) | 9901 | -€54,327 | €2,535 | +€56,862 | |
| Financial income | 75/76B | €139 | €34 | -€104 | -75.2% |
| Recurring financial income | 75 | €139 | €34 | -€104 | -75.2% |
| Financial charges | 65/66B | €657 | €696 | +€38 | +5.8% |
| Recurring financial charges | 65 | €657 | €696 | +€38 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | -€54,846 | €1,873 | +€56,719 | |
| Transfer from deferred taxes | 780 | €2,766 | €2,766 | = | 0.0% |
| Income taxes | 67/77 | €343 | €1,324 | +€980 | +286% |
| Profit (loss) for the period | 9904 | -€52,423 | €3,316 | +€55,739 | |
| Transfer from tax-exempt reserves | 789 | €5,617 | €5,617 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,806 | €8,933 | +€55,739 |
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 23 October 2026 via checked.be.