L'objet 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.
L'objet I
Largest movements
- Financial fixed assets -€13.4m
down €13.4m (-30.2%), from €44.2m to €30.8m
- Cash +€9.6m
up €9.6m (+580.0%), from €1.7m to €11.2m
mainly Investment in fixed assets (net) (+€13.4m)
- Current investments +€1.6m
up €1.6m (+24.9%), from €6.3m to €7.9m
- Profit (loss) carried forward -€2.0m
down €2.0m (-5.8%), from €35.2m to €33.1m
- Financial charges +€4.9m
up €4.9m (+389070.1%), from €1,266 to €4.9m
- Financial income +€1.3m
up €1.3m (+82.1%), from €1.6m to €2.9m
- Gross operating margin +€4,556
up €4,556 (+31.6%), from -€14,402 to -€9,847
- Other operating charges +€3,369
up €3,369 (+10.5%), from €32,135 to €35,504
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 | €52,284,395 | €50,238,805 | -€2.0m | -3.9% |
| Fixed assets | 21/28 | €44,172,733 | €30,815,094 | -€13.4m | -30.2% |
| Financial fixed assets | 28 | €44,172,733 | €30,815,094 | -€13.4m | -30.2% |
| Current assets | 29/58 | €8,111,662 | €19,423,711 | +€11.3m | +139.5% |
| Amounts receivable within one year | 40/41 | €114,991 | €267,050 | +€152,059 | +132.2% |
| Other amounts receivable | 41 | €114,991 | €267,050 | +€152,059 | +132.2% |
| Current investments | 50/53 | €6,344,590 | €7,921,822 | +€1.6m | +24.9% |
| Cash at bank and in hand | 54/58 | €1,652,081 | €11,234,838 | +€9.6m | +580.0% |
| Total equity and liabilities | 10/49 | €52,284,395 | €50,238,805 | -€2.0m | -3.9% |
| Equity | 10/15 | €52,274,776 | €50,229,186 | -€2.0m | -3.9% |
| Contributions | 10/11 | €686,169 | €686,169 | = | 0.0% |
| Capital | 10 | €686,169 | €686,169 | = | 0.0% |
| Issued capital | 100 | €686,169 | €686,169 | = | 0.0% |
| Reserves | 13 | €16,396,617 | €16,396,617 | = | 0.0% |
| Non-distributable reserves | 130/1 | €68,617 | €68,617 | = | 0.0% |
| Legal reserve | 130 | €68,617 | €68,617 | = | 0.0% |
| Distributable reserves | 133 | €16,328,000 | €16,328,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,191,990 | €33,146,400 | -€2.0m | -5.8% |
| Amounts payable | 17/49 | €9,619 | €9,619 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,619 | €9,619 | = | 0.0% |
| Other amounts payable | 47/48 | €9,619 | €9,619 | = | 0.0% |
| Other operating charges | 640/8 | €32,135 | €35,504 | +€3,369 | +10.5% |
| Gross operating margin | 9900 | -€14,402 | -€9,847 | +€4,556 | +31.6% |
| Operating profit (loss) | 9901 | -€46,538 | -€45,351 | +€1,187 | +2.5% |
| Financial income | 75/76B | €1,607,289 | €2,926,149 | +€1.3m | +82.1% |
| Recurring financial income | 75 | €1,607,289 | €2,926,149 | +€1.3m | +82.1% |
| Financial charges | 65/66B | €1,266 | €4,926,388 | +€4.9m | +389070.1% |
| Recurring financial charges | 65 | €1,266 | €4,926,388 | +€4.9m | +389070.1% |
| Profit (loss) for the period before taxes | 9903 | €1,559,486 | -€2,045,590 | -€3.6m | |
| Profit (loss) for the period | 9904 | €1,559,486 | -€2,045,590 | -€3.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,559,486 | -€2,045,590 | -€3.6m |
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 11 October 2026 via checked.be.