I Like: 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.
I Like
Largest movements
- Tangible fixed assets +€68,732
up €68,732 (+87.3%), from €78,765 to €147,497
of which Plant, machinery and equipment: +€68,024
- Cash -€15,158
down €15,158 (-100.0%), from €15,158 to €1
mainly Investment in fixed assets (net) (-€86,509) and Trade debts (-€29,225)
- Receivables within one year -€15,070
down €15,070 (-34.6%), from €43,571 to €28,501
- Debts after one year +€61,411
up €61,411 (+143.2%), from €42,898 to €104,309
- Trade debts -€29,225
down €29,225 (-66.0%), from €44,295 to €15,070
- Reserves -€4,061
down €4,061 (-24.1%), from €16,859 to €12,798
of which Distributable reserves: -€4,061
- Current portion of long-term debt +€3,877
up €3,877 (+48.2%), from €8,039 to €11,917
- Tax, wage and social debts +€3,255
up €3,255 (+35.7%), from €9,129 to €12,385
- Depreciation +€11,292
up €11,292 (+135.2%), from €8,353 to €19,645
- Other operating charges +€5,700
up €5,700 (+201.8%), from €2,824 to €8,525
- Financial charges +€4,236
up €4,236 (+303.2%), from €1,397 to €5,633
- Gross operating margin +€3,177
up €3,177 (+11.5%), from €27,533 to €30,710
- Taxes -€3,175
down €3,175 (-85.0%), from €3,736 to €560
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 | €157,670 | €194,282 | +€36,612 | +23.2% |
| Fixed assets | 21/28 | €94,989 | €161,853 | +€66,864 | +70.4% |
| Intangible fixed assets | 21 | €16,225 | €14,357 | -€1,868 | -11.5% |
| Tangible fixed assets | 22/27 | €78,765 | €147,497 | +€68,732 | +87.3% |
| Plant, machinery and equipment | 23 | €77,417 | €145,440 | +€68,024 | +87.9% |
| Furniture and vehicles | 24 | €1,348 | €2,056 | +€709 | +52.6% |
| Current assets | 29/58 | €62,680 | €32,429 | -€30,252 | -48.3% |
| Amounts receivable within one year | 40/41 | €43,571 | €28,501 | -€15,070 | -34.6% |
| Trade receivables | 40 | €43,571 | €28,501 | -€15,070 | -34.6% |
| Cash at bank and in hand | 54/58 | €15,158 | €1 | -€15,158 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,951 | €3,927 | -€24 | -0.6% |
| Total equity and liabilities | 10/49 | €157,670 | €194,282 | +€36,612 | +23.2% |
| Equity | 10/15 | €33,899 | €29,838 | -€4,061 | -12.0% |
| Contributions | 10/11 | €17,040 | €17,040 | = | 0.0% |
| Reserves | 13 | €16,859 | €12,798 | -€4,061 | -24.1% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €6,859 | €2,798 | -€4,061 | -59.2% |
| Amounts payable | 17/49 | €123,770 | €164,444 | +€40,674 | +32.9% |
| Amounts payable after more than one year | 17 | €42,898 | €104,309 | +€61,411 | +143.2% |
| Financial debts | 170/4 | €42,898 | €104,309 | +€61,411 | +143.2% |
| Amounts payable within one year | 42/48 | €80,872 | €60,135 | -€20,738 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €8,039 | €11,917 | +€3,877 | +48.2% |
| Financial debts | 43 | - | €1,874 | +€1,874 | |
| Credit institutions | 430/8 | - | €1,874 | +€1,874 | |
| Trade debts | 44 | €44,295 | €15,070 | -€29,225 | -66.0% |
| Suppliers | 440/4 | €44,295 | €15,070 | -€29,225 | -66.0% |
| Taxes, remuneration and social security | 45 | €9,129 | €12,385 | +€3,255 | +35.7% |
| Taxes | 450/3 | €9,129 | €12,385 | +€3,255 | +35.7% |
| Other amounts payable | 47/48 | €19,408 | €18,889 | -€519 | -2.7% |
| Remuneration, social security and pensions | 62 | - | €408 | +€408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,353 | €19,645 | +€11,292 | +135.2% |
| Other operating charges | 640/8 | €2,824 | €8,525 | +€5,700 | +201.8% |
| Gross operating margin | 9900 | €27,533 | €30,710 | +€3,177 | +11.5% |
| Operating profit (loss) | 9901 | €16,355 | €2,132 | -€14,223 | -87.0% |
| Financial income | 75/76B | €84 | €0 | -€84 | -100.0% |
| Recurring financial income | 75 | €84 | €0 | -€84 | -100.0% |
| Financial charges | 65/66B | €1,397 | €5,633 | +€4,236 | +303.2% |
| Recurring financial charges | 65 | €1,397 | €5,633 | +€4,236 | +303.2% |
| Profit (loss) for the period before taxes | 9903 | €15,042 | -€3,501 | -€18,543 | |
| Income taxes | 67/77 | €3,736 | €560 | -€3,175 | -85.0% |
| Profit (loss) for the period | 9904 | €11,306 | -€4,061 | -€15,368 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,306 | -€4,061 | -€15,368 |
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 5 October 2026 via checked.be.