GOING EAST: 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.
GOING EAST
Largest movements
- Tangible fixed assets +€172,656
up €172,656 (+59.6%), from €289,647 to €462,303
of which Land and buildings: +€166,402
- Receivables within one year -€82,241
down €82,241 (-61.4%), from €133,948 to €51,707
of which Trade receivables: -€82,469
- Stocks and contracts -€22,000
down €22,000 (-81.5%), from €27,000 to €5,000
- Cash +€20,821
up €20,821 (+1,352,032%), from €2 to €20,823
mainly Debts after one year (+€122,756) and Receivables within one year (+€82,241)
- Deferred charges and accrued income -€16,293
down €16,293 (-58.6%), from €27,814 to €11,522
- Debts after one year +€122,756
up €122,756 (+54.3%), from €226,116 to €348,873
of which Financial debts: +€120,756
- Advances received -€19,611
no longer reported in 2025 (was €19,611)
- Short-term financial debts -€12,956
down €12,956 (-78.4%), from €16,527 to €3,571
- Other debts -€9,450
down €9,450 (-59.6%), from €15,864 to €6,414
- Accrued charges and deferred income -€8,376
down €8,376 (-100%), from €8,376 to €0
- Staff costs +€33,284
up €33,284 (+52.5%), from €63,378 to €96,662
- Gross operating margin +€28,581
up €28,581 (+21.5%), from €132,696 to €161,277
- Financial charges +€2,740
up €2,740 (+19.8%), from €13,844 to €16,584
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 | €478,801 | €551,744 | +€72,943 | +15.2% |
| Fixed assets | 21/28 | €290,037 | €462,693 | +€172,656 | +59.5% |
| Tangible fixed assets | 22/27 | €289,647 | €462,303 | +€172,656 | +59.6% |
| Land and buildings | 22 | €275,634 | €442,036 | +€166,402 | +60.4% |
| Plant, machinery and equipment | 23 | €1,402 | €1,267 | -€134 | -9.6% |
| Furniture and vehicles | 24 | €7,001 | €16,011 | +€9,010 | +129% |
| Other tangible fixed assets | 26 | €5,611 | €2,989 | -€2,622 | -46.7% |
| Financial fixed assets | 28 | €390 | €390 | = | 0.0% |
| Current assets | 29/58 | €188,764 | €89,052 | -€99,713 | -52.8% |
| Stocks and contracts in progress | 3 | €27,000 | €5,000 | -€22,000 | -81.5% |
| Contracts in progress | 37 | €27,000 | €5,000 | -€22,000 | -81.5% |
| Amounts receivable within one year | 40/41 | €133,948 | €51,707 | -€82,241 | -61.4% |
| Trade receivables | 40 | €132,512 | €50,043 | -€82,469 | -62.2% |
| Other amounts receivable | 41 | €1,436 | €1,664 | +€228 | +15.9% |
| Cash at bank and in hand | 54/58 | €2 | €20,823 | +€20,821 | +1,352,032% |
| Deferred charges and accrued income | 490/1 | €27,814 | €11,522 | -€16,293 | -58.6% |
| Total equity and liabilities | 10/49 | €478,801 | €551,744 | +€72,943 | +15.2% |
| Equity | 10/15 | €100,782 | €102,374 | +€1,592 | +1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €94,182 | €94,182 | = | 0.0% |
| Distributable reserves | 133 | €94,182 | €94,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400 | €1,992 | +€1,592 | +398% |
| Amounts payable | 17/49 | €378,020 | €449,370 | +€71,351 | +18.9% |
| Amounts payable after more than one year | 17 | €226,116 | €348,873 | +€122,756 | +54.3% |
| Financial debts | 170/4 | €226,116 | €346,873 | +€120,756 | +53.4% |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | - | €2,000 | +€2,000 | |
| Amounts payable within one year | 42/48 | €143,527 | €100,498 | -€43,029 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €21,310 | €22,347 | +€1,037 | +4.9% |
| Financial debts | 43 | €16,527 | €3,571 | -€12,956 | -78.4% |
| Credit institutions | 430/8 | €16,527 | €3,571 | -€12,956 | -78.4% |
| Trade debts | 44 | €41,078 | €36,697 | -€4,381 | -10.7% |
| Suppliers | 440/4 | €41,078 | €36,697 | -€4,381 | -10.7% |
| Advances received on contracts in progress | 46 | €19,611 | - | -€19,611 | |
| Taxes, remuneration and social security | 45 | €29,137 | €31,468 | +€2,331 | +8.0% |
| Taxes | 450/3 | €16,245 | €20,794 | +€4,548 | +28.0% |
| Remuneration and social security | 454/9 | €12,892 | €10,674 | -€2,217 | -17.2% |
| Other amounts payable | 47/48 | €15,864 | €6,414 | -€9,450 | -59.6% |
| Accrued charges and deferred income | 492/3 | €8,376 | €0 | -€8,376 | -100% |
| Remuneration, social security and pensions | 62 | €63,378 | €96,662 | +€33,284 | +52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,547 | €34,361 | +€813 | +2.4% |
| Other operating charges | 640/8 | €5,290 | €6,601 | +€1,311 | +24.8% |
| Non-recurring operating charges | 66A | - | €1,246 | +€1,246 | |
| Gross operating margin | 9900 | €132,696 | €161,277 | +€28,581 | +21.5% |
| Operating profit (loss) | 9901 | €30,481 | €22,408 | -€8,073 | -26.5% |
| Financial income | 75/76B | €145 | €3 | -€142 | -97.6% |
| Recurring financial income | 75 | €145 | €3 | -€142 | -97.6% |
| Financial charges | 65/66B | €13,844 | €16,584 | +€2,740 | +19.8% |
| Recurring financial charges | 65 | €13,844 | €16,584 | +€2,740 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €16,782 | €5,828 | -€10,954 | -65.3% |
| Income taxes | 67/77 | €5,589 | €4,236 | -€1,353 | -24.2% |
| Profit (loss) for the period | 9904 | €11,193 | €1,592 | -€9,601 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,193 | €1,592 | -€9,601 | -85.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.