IAN'S CORNER: 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.
IAN'S CORNER
Largest movements
- Cash +€145,578
up €145,578 (+191.7%), from €75,932 to €221,510
mainly Current investments (+€130,000) and Stocks and contracts (+€14,593)
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
- Stocks and contracts -€14,593
down €14,593 (-13.0%), from €112,484 to €97,891
- Tangible fixed assets -€12,067
down €12,067 (-8.6%), from €141,106 to €129,039
of which Land and buildings: -€7,330
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€14,359
down €14,359 (-43.6%), from €32,967 to €18,608
- Financial income +€3,927
up €3,927 (+1387.5%), from €283 to €4,210
- Taxes -€2,987
down €2,987 (-62.6%), from €4,775 to €1,788
- Other operating charges -€952
down €952 (-26.1%), from €3,647 to €2,695
- Depreciation +€534
up €534 (+4.0%), from €13,449 to €13,983
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 | €461,416 | €449,968 | -€11,448 | -2.5% |
| Fixed assets | 21/28 | €141,106 | €129,039 | -€12,067 | -8.6% |
| Tangible fixed assets | 22/27 | €141,106 | €129,039 | -€12,067 | -8.6% |
| Land and buildings | 22 | €102,007 | €94,677 | -€7,330 | -7.2% |
| Plant, machinery and equipment | 23 | €39,099 | €34,362 | -€4,737 | -12.1% |
| Current assets | 29/58 | €320,310 | €320,929 | +€619 | +0.2% |
| Stocks and contracts in progress | 3 | €112,484 | €97,891 | -€14,593 | -13.0% |
| Stocks | 30/36 | €112,484 | €97,891 | -€14,593 | -13.0% |
| Amounts receivable within one year | 40/41 | €148 | - | -€148 | |
| Trade receivables | 40 | €148 | - | -€148 | |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €75,932 | €221,510 | +€145,578 | +191.7% |
| Deferred charges and accrued income | 490/1 | €1,746 | €1,528 | -€218 | -12.5% |
| Total equity and liabilities | 10/49 | €461,416 | €449,968 | -€11,448 | -2.5% |
| Equity | 10/15 | €291,558 | €288,817 | -€2,741 | -0.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Outside capital | 11 | €200,000 | €200,000 | = | 0.0% |
| Other | 1109/19 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €91,558 | €88,817 | -€2,741 | -3.0% |
| Non-distributable reserves | 130/1 | €10,025 | €10,025 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,025 | €10,025 | = | 0.0% |
| Distributable reserves | 133 | €81,533 | €78,792 | -€2,741 | -3.4% |
| Amounts payable | 17/49 | €169,858 | €161,152 | -€8,706 | -5.1% |
| Amounts payable after more than one year | 17 | €115,000 | €115,000 | = | 0.0% |
| Financial debts | 170/4 | €115,000 | €115,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,358 | €44,652 | -€8,706 | -16.3% |
| Trade debts | 44 | €1,965 | €127 | -€1,838 | -93.5% |
| Suppliers | 440/4 | €1,965 | €127 | -€1,838 | -93.5% |
| Taxes, remuneration and social security | 45 | €7,608 | €5,270 | -€2,338 | -30.7% |
| Taxes | 450/3 | €7,608 | €3,950 | -€3,658 | -48.1% |
| Remuneration and social security | 454/9 | - | €1,320 | +€1,320 | |
| Other amounts payable | 47/48 | €43,785 | €39,255 | -€4,530 | -10.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,449 | €13,983 | +€534 | +4.0% |
| Other operating charges | 640/8 | €3,647 | €2,695 | -€952 | -26.1% |
| Gross operating margin | 9900 | €32,967 | €18,608 | -€14,359 | -43.6% |
| Operating profit (loss) | 9901 | €15,871 | €1,931 | -€13,940 | -87.8% |
| Financial income | 75/76B | €283 | €4,210 | +€3,927 | +1387.5% |
| Recurring financial income | 75 | €283 | €4,210 | +€3,927 | +1387.5% |
| Financial charges | 65/66B | €418 | €144 | -€274 | -65.5% |
| Recurring financial charges | 65 | €418 | €144 | -€274 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | €15,736 | €5,996 | -€9,740 | -61.9% |
| Income taxes | 67/77 | €4,775 | €1,788 | -€2,987 | -62.6% |
| Profit (loss) for the period | 9904 | €10,961 | €4,209 | -€6,752 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,961 | €4,209 | -€6,752 | -61.6% |
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 6 October 2026 via checked.be.