LINK & BOOK: 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.
LINK & BOOK
Largest movements
- Stocks and contracts +€20,219
up €20,219 (+57.9%), from €34,894 to €55,113
- Intangible fixed assets -€4,750
down €4,750 (-5.3%), from €90,250 to €85,500
- Current investments +€3,078
up €3,078 (+11.6%), from €26,592 to €29,670
- Receivables within one year +€1,853
up €1,853 (+1,524%), from €122 to €1,975
of which Trade receivables: +€1,226
- Debts after one year +€32,380
new in 2025: €32,380
- Other debts -€31,344
down €31,344 (-21.9%), from €143,079 to €111,735
- Current portion of long-term debt +€13,797
new in 2025: €13,797
- Trade debts +€5,720
up €5,720 (+555%), from €1,031 to €6,751
- Financial charges -€7,227
down €7,227 (-57.5%), from €12,559 to €5,331
- Gross operating margin -€4,329
down €4,329 (-14.3%), from €30,191 to €25,862
- Staff costs +€2,455
up €2,455 (+19.1%), from €12,847 to €15,302
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €151,858 | €172,258 | +€20,400 | +13.4% |
| Fixed assets | 21/28 | €90,250 | €85,500 | -€4,750 | -5.3% |
| Intangible fixed assets | 21 | €90,250 | €85,500 | -€4,750 | -5.3% |
| Current assets | 29/58 | €61,608 | €86,758 | +€25,150 | +40.8% |
| Stocks and contracts in progress | 3 | €34,894 | €55,113 | +€20,219 | +57.9% |
| Stocks | 30/36 | €34,894 | €55,113 | +€20,219 | +57.9% |
| Amounts receivable within one year | 40/41 | €122 | €1,975 | +€1,853 | +1,524% |
| Trade receivables | 40 | €122 | €1,348 | +€1,226 | +1,009% |
| Other amounts receivable | 41 | - | €627 | +€627 | |
| Current investments | 50/53 | €26,592 | €29,670 | +€3,078 | +11.6% |
| Total equity and liabilities | 10/49 | €151,858 | €172,258 | +€20,400 | +13.4% |
| Equity | 10/15 | €5,035 | €5,158 | +€123 | +2.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35 | €158 | +€123 | +354% |
| Amounts payable | 17/49 | €146,823 | €167,100 | +€20,277 | +13.8% |
| Amounts payable after more than one year | 17 | - | €32,380 | +€32,380 | |
| Financial debts | 170/4 | - | €32,380 | +€32,380 | |
| Amounts payable within one year | 42/48 | €146,823 | €134,721 | -€12,103 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | - | €13,797 | +€13,797 | |
| Trade debts | 44 | €1,031 | €6,751 | +€5,720 | +555% |
| Suppliers | 440/4 | €1,031 | €6,751 | +€5,720 | +555% |
| Taxes, remuneration and social security | 45 | €2,713 | €2,437 | -€276 | -10.2% |
| Taxes | 450/3 | €2,651 | €948 | -€1,703 | -64.3% |
| Remuneration and social security | 454/9 | €63 | €1,490 | +€1,427 | +2,280% |
| Other amounts payable | 47/48 | €143,079 | €111,735 | -€31,344 | -21.9% |
| Remuneration, social security and pensions | 62 | €12,847 | €15,302 | +€2,455 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,750 | €4,750 | = | 0.0% |
| Other operating charges | 640/8 | - | €288 | +€288 | |
| Gross operating margin | 9900 | €30,191 | €25,862 | -€4,329 | -14.3% |
| Operating profit (loss) | 9901 | €12,593 | €5,522 | -€7,071 | -56.1% |
| Financial charges | 65/66B | €12,559 | €5,331 | -€7,227 | -57.5% |
| Recurring financial charges | 65 | €12,559 | €5,331 | -€7,227 | -57.5% |
| Profit (loss) for the period before taxes | 9903 | €35 | €191 | +€156 | +449% |
| Income taxes | 67/77 | - | €68 | +€68 | |
| Profit (loss) for the period | 9904 | €35 | €123 | +€88 | +254% |
| Profit (loss) for the period to be appropriated | 9905 | €35 | €123 | +€88 | +254% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.