GROUP DILEMMA: 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.
GROUP DILEMMA
Largest movements
- Receivables within one year +€23,873
up €23,873 (+3,315%), from €720 to €24,593
of which Trade receivables: +€19,628
- Cash +€16,662
up €16,662 (+50.0%), from €33,352 to €50,014
mainly Tax, wage and social debts (+€45,672) and Net result for the year (+€33,585)
- Tangible fixed assets +€13,112
up €13,112 (+40.6%), from €32,266 to €45,378
of which Furniture and vehicles: +€13,582
- Deferred charges and accrued income +€1,361
new in 2025: €1,361
- Tax, wage and social debts +€45,672
up €45,672 (+460%), from €9,919 to €55,591
- Profit (loss) carried forward +€33,585
up €33,585 (+72.0%), from -€46,626 to -€13,041
- Other debts -€14,154
down €14,154 (-27.2%), from €51,983 to €37,830
- Trade debts -€10,189
down €10,189 (-24.8%), from €41,062 to €30,873
- Gross operating margin +€41,437
up €41,437 (+134%), from €30,868 to €72,305
- Taxes +€21,047
new in 2025: €21,047
- Depreciation +€4,607
up €4,607 (+176%), from €2,611 to €7,218
- Financial charges +€4,493
up €4,493 (+144%), from €3,116 to €7,609
- Other operating charges -€1,259
down €1,259 (-30.7%), from €4,106 to €2,847
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 | €66,338 | €121,346 | +€55,007 | +82.9% |
| Fixed assets | 21/28 | €32,266 | €45,378 | +€13,112 | +40.6% |
| Tangible fixed assets | 22/27 | €32,266 | €45,378 | +€13,112 | +40.6% |
| Plant, machinery and equipment | 23 | €2,771 | €2,301 | -€470 | -17.0% |
| Furniture and vehicles | 24 | €29,495 | €43,077 | +€13,582 | +46.0% |
| Current assets | 29/58 | €34,072 | €75,967 | +€41,895 | +123% |
| Amounts receivable within one year | 40/41 | €720 | €24,593 | +€23,873 | +3,315% |
| Trade receivables | 40 | €715 | €20,343 | +€19,628 | +2,747% |
| Other amounts receivable | 41 | €6 | €4,250 | +€4,244 | +76,893% |
| Cash at bank and in hand | 54/58 | €33,352 | €50,014 | +€16,662 | +50.0% |
| Deferred charges and accrued income | 490/1 | - | €1,361 | +€1,361 | |
| Total equity and liabilities | 10/49 | €66,338 | €121,346 | +€55,007 | +82.9% |
| Equity | 10/15 | -€36,626 | -€3,041 | +€33,585 | +91.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,626 | -€13,041 | +€33,585 | +72.0% |
| Amounts payable | 17/49 | €102,964 | €124,387 | +€21,423 | +20.8% |
| Amounts payable within one year | 42/48 | €102,964 | €124,294 | +€21,329 | +20.7% |
| Trade debts | 44 | €41,062 | €30,873 | -€10,189 | -24.8% |
| Suppliers | 440/4 | €41,062 | €30,873 | -€10,189 | -24.8% |
| Taxes, remuneration and social security | 45 | €9,919 | €55,591 | +€45,672 | +460% |
| Taxes | 450/3 | €9,919 | €55,591 | +€45,672 | +460% |
| Other amounts payable | 47/48 | €51,983 | €37,830 | -€14,154 | -27.2% |
| Accrued charges and deferred income | 492/3 | - | €93 | +€93 | |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,611 | €7,218 | +€4,607 | +176% |
| Other operating charges | 640/8 | €4,106 | €2,847 | -€1,259 | -30.7% |
| Gross operating margin | 9900 | €30,868 | €72,305 | +€41,437 | +134% |
| Operating profit (loss) | 9901 | €24,151 | €62,241 | +€38,089 | +158% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,116 | €7,609 | +€4,493 | +144% |
| Recurring financial charges | 65 | €3,116 | €7,609 | +€4,493 | +144% |
| Profit (loss) for the period before taxes | 9903 | €21,037 | €54,632 | +€33,595 | +160% |
| Income taxes | 67/77 | - | €21,047 | +€21,047 | |
| Profit (loss) for the period | 9904 | €21,037 | €33,585 | +€12,548 | +59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,037 | €33,585 | +€12,548 | +59.6% |
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 1 November 2026 via checked.be.