M22: 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.
M22
Largest movements
- Cash -€33,993
down €33,993 (-38.1%), from €89,130 to €55,137
mainly Trade debts (-€54,975) and Net result for the year (-€28,734)
- Receivables within one year -€24,759
down €24,759 (-83.3%), from €29,720 to €4,961
of which Trade receivables: -€17,969
- Intangible fixed assets -€19,500
down €19,500 (-35.6%), from €54,731 to €35,231
- Tangible fixed assets -€5,374
down €5,374 (-21.5%), from €25,021 to €19,648
of which Furniture and vehicles: -€5,374
- Trade debts -€54,975
down €54,975 (-89.5%), from €61,450 to €6,476
- Reserves -€20,418
down €20,418 (-20.4%), from €100,000 to €79,582
- Profit (loss) carried forward -€8,316
down €8,316 (-100.0%), from €8,316 to €0
- Accrued charges and deferred income -€7,200
down €7,200 (-100.0%), from €7,200 to €0
- Tax, wage and social debts +€6,328
up €6,328 (+83.9%), from €7,539 to €13,867
of which Remuneration and social security: +€5,346
- Gross operating margin -€30,535
down €30,535 (-41.3%), from €74,008 to €43,473
- Depreciation +€15,419
up €15,419 (+163.1%), from €9,455 to €24,874
- Staff costs +€8,515
up €8,515 (+22.4%), from €38,093 to €46,608
- Taxes -€7,469
down €7,469 (-98.0%), from €7,620 to €151
- Financial income -€2,744
down €2,744 (-99.6%), from €2,754 to €10
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 | €203,265 | €119,799 | -€83,465 | -41.1% |
| Fixed assets | 21/28 | €79,902 | €55,029 | -€24,874 | -31.1% |
| Intangible fixed assets | 21 | €54,731 | €35,231 | -€19,500 | -35.6% |
| Tangible fixed assets | 22/27 | €25,021 | €19,648 | -€5,374 | -21.5% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €25,021 | €19,648 | -€5,374 | -21.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €123,362 | €64,771 | -€58,592 | -47.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €29,720 | €4,961 | -€24,759 | -83.3% |
| Trade receivables | 40 | €22,930 | €4,961 | -€17,969 | -78.4% |
| Other amounts receivable | 41 | €6,790 | €0 | -€6,790 | -100.0% |
| Cash at bank and in hand | 54/58 | €89,130 | €55,137 | -€33,993 | -38.1% |
| Deferred charges and accrued income | 490/1 | €4,513 | €4,673 | +€160 | +3.6% |
| Total equity and liabilities | 10/49 | €203,265 | €119,799 | -€83,465 | -41.1% |
| Equity | 10/15 | €126,916 | €98,182 | -€28,734 | -22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,000 | €79,582 | -€20,418 | -20.4% |
| Distributable reserves | 133 | €100,000 | €79,582 | -€20,418 | -20.4% |
| Profit (loss) carried forward | 14 | €8,316 | €0 | -€8,316 | -100.0% |
| Amounts payable | 17/49 | €76,349 | €21,617 | -€54,731 | -71.7% |
| Amounts payable within one year | 42/48 | €69,149 | €21,617 | -€47,531 | -68.7% |
| Financial debts | 43 | €133 | €1,111 | +€978 | +734.7% |
| Credit institutions | 430/8 | €133 | €1,111 | +€978 | +734.7% |
| Trade debts | 44 | €61,450 | €6,476 | -€54,975 | -89.5% |
| Suppliers | 440/4 | €61,450 | €6,476 | -€54,975 | -89.5% |
| Taxes, remuneration and social security | 45 | €7,539 | €13,867 | +€6,328 | +83.9% |
| Taxes | 450/3 | €1,596 | €2,578 | +€982 | +61.5% |
| Remuneration and social security | 454/9 | €5,944 | €11,289 | +€5,346 | +89.9% |
| Other amounts payable | 47/48 | €26 | €163 | +€137 | +524.7% |
| Accrued charges and deferred income | 492/3 | €7,200 | €0 | -€7,200 | -100.0% |
| Non-recurring operating income | 76A | €3,167 | €0 | -€3,167 | -100.0% |
| Remuneration, social security and pensions | 62 | €38,093 | €46,608 | +€8,515 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,455 | €24,874 | +€15,419 | +163.1% |
| Other operating charges | 640/8 | €567 | €488 | -€78 | -13.8% |
| Gross operating margin | 9900 | €74,008 | €43,473 | -€30,535 | -41.3% |
| Operating profit (loss) | 9901 | €25,893 | -€28,497 | -€54,390 | |
| Financial income | 75/76B | €2,754 | €10 | -€2,744 | -99.6% |
| Recurring financial income | 75 | €2,754 | €10 | -€2,744 | -99.6% |
| Financial charges | 65/66B | €95 | €96 | +€1 | +1.2% |
| Recurring financial charges | 65 | €95 | €96 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €28,553 | -€28,582 | -€57,135 | |
| Income taxes | 67/77 | €7,620 | €151 | -€7,469 | -98.0% |
| Profit (loss) for the period | 9904 | €20,932 | -€28,734 | -€49,666 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,932 | -€28,734 | -€49,666 |
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 8 October 2026 via checked.be.