homework: 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.
homework
Largest movements
- Tangible fixed assets +€277,444
up €277,444 (+63.3%), from €438,073 to €715,516
of which Land and buildings: +€266,348
- Cash -€67,745
down €67,745 (-72.3%), from €93,707 to €25,963
mainly Investment in fixed assets (net) (-€301,373) and Trade debts (-€49,596)
- Debts after one year +€173,421
up €173,421 (+61.6%), from €281,720 to €455,142
- Other debts +€68,390
up €68,390 (+8210.1%), from €833 to €69,223
- Trade debts -€49,596
down €49,596 (-87.9%), from €56,398 to €6,802
- Gross operating margin +€20,580
up €20,580 (+75.1%), from €27,399 to €47,979
- Depreciation +€16,019
up €16,019 (+202.5%), from €7,910 to €23,929
- Financial charges +€14,196
up €14,196 (+254.9%), from €5,568 to €19,764
- Taxes -€883
down €883 (-78.2%), from €1,130 to €247
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 | €548,565 | €757,494 | +€208,929 | +38.1% |
| Fixed assets | 21/28 | €438,273 | €715,716 | +€277,444 | +63.3% |
| Tangible fixed assets | 22/27 | €438,073 | €715,516 | +€277,444 | +63.3% |
| Land and buildings | 22 | €419,990 | €686,338 | +€266,348 | +63.4% |
| Plant, machinery and equipment | 23 | €7,610 | €22,906 | +€15,296 | +201.0% |
| Furniture and vehicles | 24 | €10,473 | €6,272 | -€4,201 | -40.1% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €110,293 | €41,778 | -€68,515 | -62.1% |
| Amounts receivable within one year | 40/41 | €16,065 | €15,495 | -€571 | -3.6% |
| Trade receivables | 40 | €12,656 | €12,991 | +€336 | +2.7% |
| Other amounts receivable | 41 | €3,410 | €2,503 | -€906 | -26.6% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €93,707 | €25,963 | -€67,745 | -72.3% |
| Deferred charges and accrued income | 490/1 | €270 | €71 | -€200 | -73.9% |
| Total equity and liabilities | 10/49 | €548,565 | €757,494 | +€208,929 | +38.1% |
| Equity | 10/15 | €189,468 | €191,075 | +€1,607 | +0.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €129,468 | €131,075 | +€1,607 | +1.2% |
| Distributable reserves | 133 | €129,468 | €131,075 | +€1,607 | +1.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €359,097 | €566,419 | +€207,322 | +57.7% |
| Amounts payable after more than one year | 17 | €281,720 | €455,142 | +€173,421 | +61.6% |
| Financial debts | 170/4 | €281,720 | €455,142 | +€173,421 | +61.6% |
| Amounts payable within one year | 42/48 | €77,362 | €108,748 | +€31,385 | +40.6% |
| Current portion of amounts payable after more than one year | 42 | €19,091 | €22,091 | +€3,001 | +15.7% |
| Trade debts | 44 | €56,398 | €6,802 | -€49,596 | -87.9% |
| Suppliers | 440/4 | €56,398 | €6,802 | -€49,596 | -87.9% |
| Advances received on contracts in progress | 46 | - | €2,213 | +€2,213 | |
| Taxes, remuneration and social security | 45 | €1,040 | €8,418 | +€7,378 | +709.3% |
| Taxes | 450/3 | €1,040 | €8,418 | +€7,378 | +709.3% |
| Other amounts payable | 47/48 | €833 | €69,223 | +€68,390 | +8210.1% |
| Accrued charges and deferred income | 492/3 | €14 | €2,530 | +€2,515 | +17420.0% |
| Non-recurring operating income | 76A | - | €2,344 | +€2,344 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,910 | €23,929 | +€16,019 | +202.5% |
| Other operating charges | 640/8 | €1,493 | €1,574 | +€81 | +5.4% |
| Gross operating margin | 9900 | €27,399 | €47,979 | +€20,580 | +75.1% |
| Operating profit (loss) | 9901 | €17,995 | €22,476 | +€4,480 | +24.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +3200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +3200.0% |
| Financial charges | 65/66B | €5,568 | €19,764 | +€14,196 | +254.9% |
| Recurring financial charges | 65 | €5,568 | €19,764 | +€14,196 | +254.9% |
| Profit (loss) for the period before taxes | 9903 | €12,427 | €2,712 | -€9,715 | -78.2% |
| Income taxes | 67/77 | €1,130 | €247 | -€883 | -78.2% |
| Profit (loss) for the period | 9904 | €11,297 | €2,466 | -€8,832 | -78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,297 | €2,466 | -€8,832 | -78.2% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.