LABEL RENOVATION: 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.
LABEL RENOVATION
Largest movements
- Receivables within one year +€350,057
up €350,057 (+61.6%), from €567,858 to €917,915
of which Trade receivables: +€336,655
- Cash -€34,735
down €34,735 (-42.5%), from €81,716 to €46,981
mainly Receivables within one year (-€350,057) and Current portion of long-term debt (-€66,886)
- Tangible fixed assets -€20,652
down €20,652 (-24.7%), from €83,622 to €62,969
of which Furniture and vehicles: -€21,603
- Trade debts +€318,145
up €318,145 (+204%), from €156,253 to €474,398
of which Suppliers: +€324,715
- Profit (loss) carried forward +€76,547
up €76,547 (+128%), from €59,878 to €136,425
- Current portion of long-term debt -€66,886
down €66,886 (-81.5%), from €82,106 to €15,220
- Other debts -€65,639
down €65,639 (-96.5%), from €67,988 to €2,349
- Reserves +€50,000
up €50,000 (+18.5%), from €270,977 to €320,977
of which Distributable reserves: +€50,000
- Gross operating margin +€204,016
up €204,016 (+97.0%), from €210,255 to €414,271
- Taxes +€50,378
up €50,378 (+7,717%), from €653 to €51,030
- Staff costs +€11,447
up €11,447 (+6.1%), from €186,643 to €198,090
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.
Derived cash bridge
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 | €748,844 | €1,041,709 | +€292,865 | +39.1% |
| Fixed assets | 21/28 | €88,688 | €68,035 | -€20,652 | -23.3% |
| Tangible fixed assets | 22/27 | €83,622 | €62,969 | -€20,652 | -24.7% |
| Plant, machinery and equipment | 23 | €12 | €962 | +€950 | +8,110% |
| Furniture and vehicles | 24 | €83,610 | €62,007 | -€21,603 | -25.8% |
| Financial fixed assets | 28 | €5,066 | €5,066 | = | 0.0% |
| Current assets | 29/58 | €660,157 | €973,674 | +€313,517 | +47.5% |
| Amounts receivable within one year | 40/41 | €567,858 | €917,915 | +€350,057 | +61.6% |
| Trade receivables | 40 | €261,383 | €598,038 | +€336,655 | +129% |
| Other amounts receivable | 41 | €306,475 | €319,876 | +€13,402 | +4.4% |
| Cash at bank and in hand | 54/58 | €81,716 | €46,981 | -€34,735 | -42.5% |
| Deferred charges and accrued income | 490/1 | €10,583 | €8,778 | -€1,805 | -17.1% |
| Total equity and liabilities | 10/49 | €748,844 | €1,041,709 | +€292,865 | +39.1% |
| Equity | 10/15 | €337,055 | €463,602 | +€126,547 | +37.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €270,977 | €320,977 | +€50,000 | +18.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €269,117 | €319,117 | +€50,000 | +18.6% |
| Profit (loss) carried forward | 14 | €59,878 | €136,425 | +€76,547 | +128% |
| Amounts payable | 17/49 | €411,789 | €578,106 | +€166,317 | +40.4% |
| Amounts payable after more than one year | 17 | €36,612 | €21,392 | -€15,220 | -41.6% |
| Financial debts | 170/4 | €36,612 | €21,392 | -€15,220 | -41.6% |
| Amounts payable within one year | 42/48 | €375,177 | €556,715 | +€181,537 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €82,106 | €15,220 | -€66,886 | -81.5% |
| Trade debts | 44 | €156,253 | €474,398 | +€318,145 | +204% |
| Suppliers | 440/4 | €149,683 | €474,398 | +€324,715 | +217% |
| Bills of exchange payable | 441 | €6,570 | - | -€6,570 | |
| Taxes, remuneration and social security | 45 | €68,830 | €64,748 | -€4,082 | -5.9% |
| Taxes | 450/3 | €8,136 | €50,056 | +€41,921 | +515% |
| Remuneration and social security | 454/9 | €60,694 | €14,692 | -€46,003 | -75.8% |
| Other amounts payable | 47/48 | €67,988 | €2,349 | -€65,639 | -96.5% |
| Remuneration, social security and pensions | 62 | €186,643 | €198,090 | +€11,447 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,683 | €21,799 | +€1,116 | +5.4% |
| Other operating charges | 640/8 | €7,181 | €5,927 | -€1,254 | -17.5% |
| Non-recurring operating charges | 66A | - | €721 | +€721 | |
| Gross operating margin | 9900 | €210,255 | €414,271 | +€204,016 | +97.0% |
| Operating profit (loss) | 9901 | -€4,252 | €187,734 | +€191,985 | |
| Financial income | 75/76B | €264 | €1,213 | +€949 | +360% |
| Recurring financial income | 75 | €264 | €1,213 | +€949 | +360% |
| Financial charges | 65/66B | €14,434 | €11,370 | -€3,064 | -21.2% |
| Recurring financial charges | 65 | €14,434 | €11,370 | -€3,064 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,421 | €177,578 | +€195,999 | |
| Income taxes | 67/77 | €653 | €51,030 | +€50,378 | +7,717% |
| Profit (loss) for the period | 9904 | -€19,074 | €126,547 | +€145,621 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,074 | €126,547 | +€145,621 |
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 26 October 2026 via checked.be.