I: 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.
I
Largest movements
- Receivables within one year -€45,612
down €45,612 (-39.2%), from €116,310 to €70,697
of which Other amounts receivable: -€48,569
- Tangible fixed assets -€31,600
down €31,600 (-2.4%), from €1.3m to €1.3m
- Debts after one year +€131,527
up €131,527 (+54.7%), from €240,397 to €371,924
- Reserves -€100,000
down €100,000 (-15.3%), from €652,395 to €552,395
of which Distributable reserves: -€100,000
- Other debts -€90,630
no longer reported in 2025 (was €90,630)
- Gross operating margin -€50,850
down €50,850 (-695.5%), from -€7,311 to -€58,161
- Financial charges -€7,312
down €7,312 (-44.8%), from €16,315 to €9,003
- Other operating charges -€4,681
down €4,681 (-61.6%), from €7,601 to €2,920
- Financial income -€2,278
down €2,278 (-65.5%), from €3,478 to €1,200
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 | €1,426,018 | €1,360,822 | -€65,196 | -4.6% |
| Fixed assets | 21/28 | €1,298,300 | €1,266,700 | -€31,600 | -2.4% |
| Tangible fixed assets | 22/27 | €1,298,300 | €1,266,700 | -€31,600 | -2.4% |
| Land and buildings | 22 | €1,298,300 | €1,266,700 | -€31,600 | -2.4% |
| Current assets | 29/58 | €127,718 | €94,122 | -€33,596 | -26.3% |
| Amounts receivable within one year | 40/41 | €116,310 | €70,697 | -€45,612 | -39.2% |
| Trade receivables | 40 | - | €2,957 | +€2,957 | |
| Other amounts receivable | 41 | €116,310 | €67,740 | -€48,569 | -41.8% |
| Cash at bank and in hand | 54/58 | €11,409 | €23,425 | +€12,016 | +105.3% |
| Total equity and liabilities | 10/49 | €1,426,018 | €1,360,822 | -€65,196 | -4.6% |
| Equity | 10/15 | €1,085,510 | €985,026 | -€100,484 | -9.3% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €652,395 | €552,395 | -€100,000 | -15.3% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €640,000 | €540,000 | -€100,000 | -15.6% |
| Profit (loss) carried forward | 14 | €9,169 | €8,684 | -€484 | -5.3% |
| Amounts payable | 17/49 | €340,508 | €375,797 | +€35,288 | +10.4% |
| Amounts payable after more than one year | 17 | €240,397 | €371,924 | +€131,527 | +54.7% |
| Other amounts payable | 178/9 | €240,397 | €371,924 | +€131,527 | +54.7% |
| Amounts payable within one year | 42/48 | €100,111 | €3,872 | -€96,239 | -96.1% |
| Trade debts | 44 | €9,481 | €3,872 | -€5,609 | -59.2% |
| Suppliers | 440/4 | €9,481 | €3,872 | -€5,609 | -59.2% |
| Other amounts payable | 47/48 | €90,630 | - | -€90,630 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,600 | €31,600 | = | 0.0% |
| Other operating charges | 640/8 | €7,601 | €2,920 | -€4,681 | -61.6% |
| Gross operating margin | 9900 | -€7,311 | -€58,161 | -€50,850 | -695.5% |
| Operating profit (loss) | 9901 | -€46,512 | -€92,681 | -€46,169 | -99.3% |
| Financial income | 75/76B | €3,478 | €1,200 | -€2,278 | -65.5% |
| Recurring financial income | 75 | €3,478 | €1,200 | -€2,278 | -65.5% |
| Financial charges | 65/66B | €16,315 | €9,003 | -€7,312 | -44.8% |
| Recurring financial charges | 65 | €16,315 | €9,003 | -€7,312 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | -€59,349 | -€100,484 | -€41,135 | -69.3% |
| Profit (loss) for the period | 9904 | -€59,349 | -€100,484 | -€41,135 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,349 | -€100,484 | -€41,135 | -69.3% |
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 10 October 2026 via checked.be.