LETTERSOEP: 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.
LETTERSOEP
Largest movements
- Receivables within one year +€9,953
up €9,953 (+36.1%), from €27,593 to €37,545
of which Trade receivables: +€14,037
- Tangible fixed assets -€5,354
down €5,354 (-7.3%), from €73,337 to €67,983
of which Other tangible fixed assets: -€10,275
- Cash +€1,958
up €1,958 (+3.7%), from €52,563 to €54,521
mainly Depreciation (+€12,916) and Net result for the year (+€10,995)
- Debts after one year -€12,051
down €12,051 (-49.3%), from €24,436 to €12,385
- Reserves +€10,995
up €10,995 (+12.5%), from €88,286 to €99,281
- Trade debts +€5,790
up €5,790 (+624.5%), from €927 to €6,717
- Gross operating margin +€10,670
up €10,670 (+53.4%), from €19,984 to €30,654
- Taxes +€2,584
up €2,584 (+102.9%), from €2,511 to €5,095
- Depreciation +€1,243
up €1,243 (+10.7%), from €11,673 to €12,916
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 | €154,634 | €160,896 | +€6,262 | +4.0% |
| Fixed assets | 21/28 | €73,337 | €67,983 | -€5,354 | -7.3% |
| Tangible fixed assets | 22/27 | €73,337 | €67,983 | -€5,354 | -7.3% |
| Furniture and vehicles | 24 | €5,893 | €10,813 | +€4,920 | +83.5% |
| Other tangible fixed assets | 26 | €67,445 | €57,170 | -€10,275 | -15.2% |
| Current assets | 29/58 | €81,297 | €92,913 | +€11,616 | +14.3% |
| Amounts receivable within one year | 40/41 | €27,593 | €37,545 | +€9,953 | +36.1% |
| Trade receivables | 40 | €20,024 | €34,061 | +€14,037 | +70.1% |
| Other amounts receivable | 41 | €7,569 | €3,484 | -€4,085 | -54.0% |
| Cash at bank and in hand | 54/58 | €52,563 | €54,521 | +€1,958 | +3.7% |
| Deferred charges and accrued income | 490/1 | €1,141 | €846 | -€295 | -25.8% |
| Total equity and liabilities | 10/49 | €154,634 | €160,896 | +€6,262 | +4.0% |
| Equity | 10/15 | €106,886 | €117,881 | +€10,995 | +10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,286 | €99,281 | +€10,995 | +12.5% |
| Distributable reserves | 133 | €88,286 | €99,281 | +€10,995 | +12.5% |
| Amounts payable | 17/49 | €47,748 | €43,015 | -€4,733 | -9.9% |
| Amounts payable after more than one year | 17 | €24,436 | €12,385 | -€12,051 | -49.3% |
| Financial debts | 170/4 | €24,436 | €12,385 | -€12,051 | -49.3% |
| Amounts payable within one year | 42/48 | €23,312 | €30,630 | +€7,318 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €11,727 | €12,051 | +€324 | +2.8% |
| Trade debts | 44 | €927 | €6,717 | +€5,790 | +624.5% |
| Suppliers | 440/4 | €927 | €6,717 | +€5,790 | +624.5% |
| Taxes, remuneration and social security | 45 | €3,299 | €4,556 | +€1,257 | +38.1% |
| Taxes | 450/3 | €1,299 | €2,556 | +€1,257 | +96.7% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €7,358 | €7,306 | -€52 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,673 | €12,916 | +€1,243 | +10.7% |
| Other operating charges | 640/8 | €683 | €866 | +€184 | +26.9% |
| Gross operating margin | 9900 | €19,984 | €30,654 | +€10,670 | +53.4% |
| Operating profit (loss) | 9901 | €7,629 | €16,871 | +€9,243 | +121.2% |
| Financial income | 75/76B | €267 | €291 | +€24 | +9.0% |
| Recurring financial income | 75 | €267 | €291 | +€24 | +9.0% |
| Financial charges | 65/66B | €1,373 | €1,072 | -€301 | -21.9% |
| Recurring financial charges | 65 | €1,373 | €1,072 | -€301 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €6,523 | €16,090 | +€9,567 | +146.7% |
| Income taxes | 67/77 | €2,511 | €5,095 | +€2,584 | +102.9% |
| Profit (loss) for the period | 9904 | €4,012 | €10,995 | +€6,983 | +174.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,012 | €10,995 | +€6,983 | +174.1% |
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 10 October 2026 via checked.be.