M & A: 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.
M & A
Largest movements
- Receivables within one year -€7,551
down €7,551 (-84.6%), from €8,928 to €1,377
of which Trade receivables: -€8,824
- Trade debts -€7,545
no longer reported in 2025 (was €7,545)
- Other debts +€375
up €375 (+917.2%), from €41 to €416
- Profit (loss) carried forward -€366
down €366, from €327 to -€39
- Gross operating margin -€26,105
down €26,105 (-99.1%), from €26,338 to €233
- Other operating charges -€15,927
down €15,927 (-97.2%), from €16,380 to €453
- Staff costs -€7,219
no longer reported in 2025 (was €7,219)
- Depreciation -€2,041
no longer reported in 2025 (was €2,041)
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
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 | €8,928 | €1,377 | -€7,551 | -84.6% |
| Current assets | 29/58 | €8,928 | €1,377 | -€7,551 | -84.6% |
| Amounts receivable within one year | 40/41 | €8,928 | €1,377 | -€7,551 | -84.6% |
| Trade receivables | 40 | €8,824 | - | -€8,824 | |
| Other amounts receivable | 41 | €104 | €1,377 | +€1,273 | +1220.9% |
| Total equity and liabilities | 10/49 | €8,928 | €1,377 | -€7,551 | -84.6% |
| Equity | 10/15 | €1,327 | €961 | -€366 | -27.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €327 | -€39 | -€366 | |
| Amounts payable | 17/49 | €7,601 | €416 | -€7,185 | -94.5% |
| Amounts payable within one year | 42/48 | €7,601 | €416 | -€7,185 | -94.5% |
| Financial debts | 43 | €15 | - | -€15 | |
| Credit institutions | 430/8 | €15 | - | -€15 | |
| Trade debts | 44 | €7,545 | - | -€7,545 | |
| Suppliers | 440/4 | €7,545 | - | -€7,545 | |
| Other amounts payable | 47/48 | €41 | €416 | +€375 | +917.2% |
| Remuneration, social security and pensions | 62 | €7,219 | - | -€7,219 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,041 | - | -€2,041 | |
| Other operating charges | 640/8 | €16,380 | €453 | -€15,927 | -97.2% |
| Gross operating margin | 9900 | €26,338 | €233 | -€26,105 | -99.1% |
| Operating profit (loss) | 9901 | €699 | -€221 | -€919 | |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €380 | €145 | -€235 | -61.8% |
| Recurring financial charges | 65 | €380 | €145 | -€235 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | €327 | -€366 | -€693 | |
| Profit (loss) for the period | 9904 | €327 | -€366 | -€693 | |
| Profit (loss) for the period to be appropriated | 9905 | €327 | -€366 | -€693 |
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 28 September 2026 via checked.be.