INTRODUCE: 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.
INTRODUCE
Largest movements
- Cash +€215,098
up €215,098 (+42.8%), from €502,957 to €718,055
mainly Net result for the year (+€145,659) and Trade debts (+€104,291)
- Receivables within one year -€53,229
down €53,229 (-10.9%), from €490,010 to €436,781
of which Trade receivables: -€48,556
- Tangible fixed assets +€13,244
up €13,244 (+15.1%), from €87,800 to €101,044
of which Furniture and vehicles: +€23,564
- Reserves +€111,325
up €111,325 (+24.5%), from €454,973 to €566,298
- Trade debts +€104,291
up €104,291 (+21.2%), from €491,289 to €595,580
- Accrued charges and deferred income -€17,635
down €17,635 (-27.8%), from €63,530 to €45,895
- Gross operating margin +€42,408
up €42,408 (+8.8%), from €480,408 to €522,816
- Staff costs +€37,006
up €37,006 (+15.5%), from €238,937 to €275,943
- Taxes -€11,155
down €11,155 (-15.3%), from €72,821 to €61,666
- Provisions +€7,500
up €7,500, from -€7,500 to €0
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 | €1,115,434 | €1,313,404 | +€197,970 | +17.7% |
| Fixed assets | 21/28 | €98,364 | €123,869 | +€25,505 | +25.9% |
| Intangible fixed assets | 21 | €10,564 | €22,825 | +€12,261 | +116.1% |
| Tangible fixed assets | 22/27 | €87,800 | €101,044 | +€13,244 | +15.1% |
| Land and buildings | 22 | €28,550 | €19,095 | -€9,455 | -33.1% |
| Plant, machinery and equipment | 23 | €21,408 | €20,543 | -€865 | -4.0% |
| Furniture and vehicles | 24 | €37,843 | €61,407 | +€23,564 | +62.3% |
| Current assets | 29/58 | €1,017,070 | €1,189,535 | +€172,465 | +17.0% |
| Amounts receivable within one year | 40/41 | €490,010 | €436,781 | -€53,229 | -10.9% |
| Trade receivables | 40 | €485,321 | €436,765 | -€48,556 | -10.0% |
| Other amounts receivable | 41 | €4,689 | €16 | -€4,673 | -99.7% |
| Cash at bank and in hand | 54/58 | €502,957 | €718,055 | +€215,098 | +42.8% |
| Deferred charges and accrued income | 490/1 | €24,102 | €34,698 | +€10,596 | +44.0% |
| Total equity and liabilities | 10/49 | €1,115,434 | €1,313,404 | +€197,970 | +17.7% |
| Equity | 10/15 | €473,573 | €584,898 | +€111,325 | +23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €454,973 | €566,298 | +€111,325 | +24.5% |
| Distributable reserves | 133 | €454,973 | €566,298 | +€111,325 | +24.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €641,861 | €728,506 | +€86,645 | +13.5% |
| Amounts payable after more than one year | 17 | €29,537 | €19,224 | -€10,313 | -34.9% |
| Financial debts | 170/4 | €29,537 | €19,224 | -€10,313 | -34.9% |
| Amounts payable within one year | 42/48 | €548,794 | €663,387 | +€114,592 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €10,192 | €10,313 | +€121 | +1.2% |
| Trade debts | 44 | €491,289 | €595,580 | +€104,291 | +21.2% |
| Suppliers | 440/4 | €491,289 | €595,580 | +€104,291 | +21.2% |
| Taxes, remuneration and social security | 45 | €47,313 | €57,369 | +€10,055 | +21.3% |
| Taxes | 450/3 | €34,388 | €41,509 | +€7,121 | +20.7% |
| Remuneration and social security | 454/9 | €12,925 | €15,860 | +€2,935 | +22.7% |
| Other amounts payable | 47/48 | €0 | €126 | +€126 | |
| Accrued charges and deferred income | 492/3 | €63,530 | €45,895 | -€17,635 | -27.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €238,937 | €275,943 | +€37,006 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,205 | €33,596 | +€3,391 | +11.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€7,500 | €0 | +€7,500 | |
| Other operating charges | 640/8 | €2,354 | €5,178 | +€2,824 | +119.9% |
| Non-recurring operating charges | 66A | €5,244 | €0 | -€5,244 | -100.0% |
| Gross operating margin | 9900 | €480,408 | €522,816 | +€42,408 | +8.8% |
| Operating profit (loss) | 9901 | €211,168 | €208,099 | -€3,070 | -1.5% |
| Financial income | 75/76B | €1,224 | €1,798 | +€574 | +46.9% |
| Recurring financial income | 75 | €1,224 | €1,798 | +€574 | +46.9% |
| Financial charges | 65/66B | €3,081 | €2,571 | -€510 | -16.5% |
| Recurring financial charges | 65 | €3,081 | €2,571 | -€510 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €209,311 | €207,325 | -€1,986 | -0.9% |
| Income taxes | 67/77 | €72,821 | €61,666 | -€11,155 | -15.3% |
| Profit (loss) for the period | 9904 | €136,490 | €145,659 | +€9,169 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €136,490 | €145,659 | +€9,169 | +6.7% |
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 4 October 2026 via checked.be.