Group IR: 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.
Group IR
Largest movements
- Receivables after one year +€40,000
up €40,000 (+26.7%), from €150,000 to €190,000
- Receivables within one year -€34,995
down €34,995 (-100.0%), from €35,000 to €5
of which Trade receivables: -€35,000
- Tangible fixed assets -€26,266
down €26,266 (-11.5%), from €228,913 to €202,648
of which Land and buildings: -€25,565
- Cash -€15,424
down €15,424 (-97.7%), from €15,781 to €357
mainly Accrued charges and deferred income (-€55,832) and Receivables after one year (-€40,000)
- Deferred charges and accrued income +€12,750
up €12,750 (+159.4%), from €8,000 to €20,750
- Accrued charges and deferred income -€55,832
down €55,832 (-98.9%), from €56,429 to €597
- Other debts -€26,785
down €26,785 (-91.1%), from €29,397 to €2,612
- Advances received +€19,058
up €19,058 (+196.9%), from €9,680 to €28,738
- Current portion of long-term debt +€15,375
up €15,375 (+42.9%), from €35,811 to €51,185
- Reserves +€15,200
up €15,200 (+10.4%), from €146,354 to €161,554
of which Distributable reserves: +€15,200
- Gross operating margin -€11,811
down €11,811 (-16.9%), from €69,992 to €58,181
- Taxes -€6,028
down €6,028 (-41.8%), from €14,435 to €8,407
- Depreciation +€2,834
up €2,834 (+12.1%), from €23,431 to €26,266
- Financial charges +€2,534
up €2,534 (+34.1%), from €7,428 to €9,962
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 | €447,264 | €424,329 | -€22,935 | -5.1% |
| Fixed assets | 21/28 | €228,913 | €202,648 | -€26,266 | -11.5% |
| Tangible fixed assets | 22/27 | €228,913 | €202,648 | -€26,266 | -11.5% |
| Land and buildings | 22 | €227,571 | €202,007 | -€25,565 | -11.2% |
| Plant, machinery and equipment | 23 | €398 | €55 | -€343 | -86.2% |
| Furniture and vehicles | 24 | €944 | €586 | -€358 | -37.9% |
| Current assets | 29/58 | €218,351 | €221,682 | +€3,331 | +1.5% |
| Amounts receivable after more than one year | 29 | €150,000 | €190,000 | +€40,000 | +26.7% |
| Other amounts receivable | 291 | €150,000 | €190,000 | +€40,000 | +26.7% |
| Amounts receivable within one year | 40/41 | €35,000 | €5 | -€34,995 | -100.0% |
| Trade receivables | 40 | €35,000 | €0 | -€35,000 | -100.0% |
| Other amounts receivable | 41 | €0 | €5 | +€5 | |
| Current investments | 50/53 | €9,570 | €10,570 | +€1,000 | +10.4% |
| Cash at bank and in hand | 54/58 | €15,781 | €357 | -€15,424 | -97.7% |
| Deferred charges and accrued income | 490/1 | €8,000 | €20,750 | +€12,750 | +159.4% |
| Total equity and liabilities | 10/49 | €447,264 | €424,329 | -€22,935 | -5.1% |
| Equity | 10/15 | €164,904 | €180,171 | +€15,267 | +9.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €146,354 | €161,554 | +€15,200 | +10.4% |
| Non-distributable reserves | 130/1 | €6,321 | €6,321 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,321 | €6,321 | = | 0.0% |
| Distributable reserves | 133 | €140,032 | €155,232 | +€15,200 | +10.9% |
| Profit (loss) carried forward | 14 | - | €67 | +€67 | |
| Amounts payable | 17/49 | €282,361 | €244,158 | -€38,202 | -13.5% |
| Amounts payable after more than one year | 17 | €129,752 | €139,233 | +€9,481 | +7.3% |
| Financial debts | 170/4 | €129,752 | €139,233 | +€9,481 | +7.3% |
| Amounts payable within one year | 42/48 | €96,179 | €104,327 | +€8,148 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €35,811 | €51,185 | +€15,375 | +42.9% |
| Trade debts | 44 | - | €6,329 | +€6,329 | |
| Suppliers | 440/4 | - | €6,329 | +€6,329 | |
| Advances received on contracts in progress | 46 | €9,680 | €28,738 | +€19,058 | +196.9% |
| Taxes, remuneration and social security | 45 | €21,291 | €15,464 | -€5,828 | -27.4% |
| Taxes | 450/3 | €21,291 | €15,464 | -€5,828 | -27.4% |
| Other amounts payable | 47/48 | €29,397 | €2,612 | -€26,785 | -91.1% |
| Accrued charges and deferred income | 492/3 | €56,429 | €597 | -€55,832 | -98.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,431 | €26,266 | +€2,834 | +12.1% |
| Other operating charges | 640/8 | €2,331 | €2,330 | -€2 | -0.1% |
| Gross operating margin | 9900 | €69,992 | €58,181 | -€11,811 | -16.9% |
| Operating profit (loss) | 9901 | €44,230 | €29,586 | -€14,644 | -33.1% |
| Financial income | 75/76B | €3,750 | €4,050 | +€300 | +8.0% |
| Recurring financial income | 75 | €3,750 | €4,050 | +€300 | +8.0% |
| Financial charges | 65/66B | €7,428 | €9,962 | +€2,534 | +34.1% |
| Recurring financial charges | 65 | €7,428 | €9,962 | +€2,534 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €40,552 | €23,674 | -€16,878 | -41.6% |
| Income taxes | 67/77 | €14,435 | €8,407 | -€6,028 | -41.8% |
| Profit (loss) for the period | 9904 | €26,117 | €15,267 | -€10,850 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,117 | €15,267 | -€10,850 | -41.5% |
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 6 October 2026 via checked.be.