MADE IN: 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.
MADE IN
Largest movements
- Receivables within one year -€143,134
down €143,134 (-48.2%), from €296,903 to €153,768
of which Other amounts receivable: -€139,376
- Tangible fixed assets -€41,759
down €41,759 (-2.5%), from €1.7m to €1.6m
- Trade debts -€145,802
down €145,802 (-43.8%), from €333,128 to €187,327
- Debts after one year -€92,288
down €92,288 (-10.4%), from €884,426 to €792,138
- Other debts +€82,944
up €82,944 (+1999.0%), from €4,149 to €87,093
- Provisions -€43,814
down €43,814 (-13.4%), from €326,393 to €282,579
- Reserves -€28,928
down €28,928 (-4.8%), from €608,636 to €579,708
of which Tax-exempt reserves: -€28,928
- Gross operating margin +€130,700
up €130,700 (+216.6%), from €60,329 to €191,029
- Depreciation -€6,430
down €6,430 (-12.9%), from €49,773 to €43,343
- Financial charges -€3,333
down €3,333 (-14.2%), from €23,422 to €20,089
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 | €2,091,892 | €1,894,505 | -€197,388 | -9.4% |
| Fixed assets | 21/28 | €1,670,531 | €1,628,772 | -€41,759 | -2.5% |
| Tangible fixed assets | 22/27 | €1,670,531 | €1,628,772 | -€41,759 | -2.5% |
| Land and buildings | 22 | €1,670,531 | €1,628,772 | -€41,759 | -2.5% |
| Current assets | 29/58 | €421,362 | €265,733 | -€155,629 | -36.9% |
| Amounts receivable within one year | 40/41 | €296,903 | €153,768 | -€143,134 | -48.2% |
| Trade receivables | 40 | €3,758 | - | -€3,758 | |
| Other amounts receivable | 41 | €293,145 | €153,768 | -€139,376 | -47.5% |
| Cash at bank and in hand | 54/58 | €1,432 | €3,740 | +€2,308 | +161.1% |
| Deferred charges and accrued income | 490/1 | €123,027 | €108,225 | -€14,802 | -12.0% |
| Total equity and liabilities | 10/49 | €2,091,892 | €1,894,505 | -€197,388 | -9.4% |
| Equity | 10/15 | €450,480 | €445,463 | -€5,017 | -1.1% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €608,636 | €579,708 | -€28,928 | -4.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €602,439 | €573,511 | -€28,928 | -4.8% |
| Profit (loss) carried forward | 14 | -€220,129 | -€196,218 | +€23,911 | +10.9% |
| Provisions and deferred taxes | 16 | €326,393 | €282,579 | -€43,814 | -13.4% |
| Deferred taxes | 168 | €326,393 | €282,579 | -€43,814 | -13.4% |
| Amounts payable | 17/49 | €1,315,019 | €1,166,463 | -€148,556 | -11.3% |
| Amounts payable after more than one year | 17 | €884,426 | €792,138 | -€92,288 | -10.4% |
| Financial debts | 170/4 | €884,426 | €792,138 | -€92,288 | -10.4% |
| Amounts payable within one year | 42/48 | €429,565 | €374,325 | -€55,240 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €92,288 | €99,906 | +€7,618 | +8.3% |
| Trade debts | 44 | €333,128 | €187,327 | -€145,802 | -43.8% |
| Suppliers | 440/4 | €333,128 | €187,327 | -€145,802 | -43.8% |
| Other amounts payable | 47/48 | €4,149 | €87,093 | +€82,944 | +1999.0% |
| Accrued charges and deferred income | 492/3 | €1,028 | - | -€1,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,773 | €43,343 | -€6,430 | -12.9% |
| Other operating charges | 640/8 | €7,068 | €7,257 | +€189 | +2.7% |
| Gross operating margin | 9900 | €60,329 | €191,029 | +€130,700 | +216.6% |
| Operating profit (loss) | 9901 | €3,488 | €140,429 | +€136,941 | +3925.7% |
| Financial charges | 65/66B | €23,422 | €20,089 | -€3,333 | -14.2% |
| Recurring financial charges | 65 | €23,422 | €20,089 | -€3,333 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | -€19,934 | €120,340 | +€140,274 | |
| Transfer from deferred taxes | 780 | €9,643 | €9,643 | = | 0.0% |
| Income taxes | 67/77 | €1,468 | - | -€1,468 | |
| Profit (loss) for the period | 9904 | -€11,759 | €129,983 | +€141,742 | |
| Transfer from tax-exempt reserves | 789 | €28,928 | €28,928 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,169 | €158,911 | +€141,742 | +825.6% |
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 2 October 2026 via checked.be.