INCEPTION: 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.
INCEPTION
Largest movements
- Tangible fixed assets +€30,415
new in 2025: €30,415
- Receivables within one year +€22,455
up €22,455 (+390.7%), from €5,748 to €28,203
of which Trade receivables: +€16,940
- Cash -€15,439
down €15,439 (-87.9%), from €17,560 to €2,121
mainly Investment in fixed assets (net) (-€30,487) and Receivables within one year (-€22,455)
- Trade debts +€38,319
up €38,319 (+3504.6%), from €1,093 to €39,412
- Tax, wage and social debts -€5,797
down €5,797 (-77.1%), from €7,516 to €1,720
- Other debts +€3,556
up €3,556 (+302.1%), from €1,177 to €4,733
- Reserves +€1,368
up €1,368 (+10.3%), from €13,289 to €14,656
- Gross operating margin -€14,027
down €14,027 (-83.3%), from €16,838 to €2,812
- Taxes -€3,120
down €3,120 (-93.4%), from €3,339 to €220
- Other operating charges +€755
up €755 (+367.6%), from €206 to €961
- Financial charges +€187
up €187 (+3748.0%), from €5 to €192
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 | €23,575 | €61,021 | +€37,445 | +158.8% |
| Fixed assets | 21/28 | - | €30,415 | +€30,415 | |
| Tangible fixed assets | 22/27 | - | €30,415 | +€30,415 | |
| Furniture and vehicles | 24 | - | €30,415 | +€30,415 | |
| Current assets | 29/58 | €23,575 | €30,606 | +€7,031 | +29.8% |
| Amounts receivable within one year | 40/41 | €5,748 | €28,203 | +€22,455 | +390.7% |
| Trade receivables | 40 | €5,748 | €22,687 | +€16,940 | +294.7% |
| Other amounts receivable | 41 | - | €5,515 | +€5,515 | |
| Cash at bank and in hand | 54/58 | €17,560 | €2,121 | -€15,439 | -87.9% |
| Deferred charges and accrued income | 490/1 | €268 | €282 | +€14 | +5.3% |
| Total equity and liabilities | 10/49 | €23,575 | €61,021 | +€37,445 | +158.8% |
| Equity | 10/15 | €13,789 | €15,156 | +€1,368 | +9.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €13,289 | €14,656 | +€1,368 | +10.3% |
| Distributable reserves | 133 | €13,289 | €14,656 | +€1,368 | +10.3% |
| Amounts payable | 17/49 | €9,787 | €45,864 | +€36,078 | +368.6% |
| Amounts payable within one year | 42/48 | €9,787 | €45,864 | +€36,078 | +368.6% |
| Trade debts | 44 | €1,093 | €39,412 | +€38,319 | +3504.6% |
| Suppliers | 440/4 | €1,093 | €39,412 | +€38,319 | +3504.6% |
| Taxes, remuneration and social security | 45 | €7,516 | €1,720 | -€5,797 | -77.1% |
| Taxes | 450/3 | €7,516 | €1,720 | -€5,797 | -77.1% |
| Other amounts payable | 47/48 | €1,177 | €4,733 | +€3,556 | +302.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €73 | +€73 | |
| Other operating charges | 640/8 | €206 | €961 | +€755 | +367.6% |
| Gross operating margin | 9900 | €16,838 | €2,812 | -€14,027 | -83.3% |
| Operating profit (loss) | 9901 | €16,633 | €1,778 | -€14,855 | -89.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5 | €192 | +€187 | +3748.0% |
| Recurring financial charges | 65 | €5 | €192 | +€187 | +3748.0% |
| Profit (loss) for the period before taxes | 9903 | €16,628 | €1,587 | -€15,041 | -90.5% |
| Income taxes | 67/77 | €3,339 | €220 | -€3,120 | -93.4% |
| Profit (loss) for the period | 9904 | €13,289 | €1,368 | -€11,921 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,289 | €1,368 | -€11,921 | -89.7% |
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.