MADE TO MOVE: 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.
MADE TO MOVE
Largest movements
- Tangible fixed assets +€156,908
up €156,908 (+53.6%), from €292,553 to €449,461
of which Land and buildings: +€161,503
- Receivables within one year -€110,308
down €110,308 (-38.4%), from €286,897 to €176,589
of which Trade receivables: -€132,884
- Cash +€85,095
up €85,095 (+163,834%), from €52 to €85,147
mainly Debts after one year (+€111,519) and Receivables within one year (+€110,308)
- Debts after one year +€111,519
up €111,519 (+119%), from €93,808 to €205,327
- Trade debts +€89,006
up €89,006 (+226%), from €39,357 to €128,362
- Tax, wage and social debts -€62,845
down €62,845 (-79.7%), from €78,859 to €16,014
of which Taxes: -€45,742
- Reserves +€23,487
up €23,487 (+6.6%), from €358,547 to €382,035
of which Distributable reserves: +€23,487
- Short-term financial debts -€20,142
down €20,142 (-100%), from €20,142 to €0
- Gross operating margin -€86,628
down €86,628 (-18.5%), from €468,682 to €382,053
- Taxes -€30,099
down €30,099 (-59.0%), from €51,046 to €20,947
- Depreciation +€10,031
up €10,031 (+39.1%), from €25,644 to €35,675
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
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 | €631,306 | €768,027 | +€136,721 | +21.7% |
| Fixed assets | 21/28 | €292,553 | €449,461 | +€156,908 | +53.6% |
| Tangible fixed assets | 22/27 | €292,553 | €449,461 | +€156,908 | +53.6% |
| Land and buildings | 22 | €255,134 | €416,637 | +€161,503 | +63.3% |
| Plant, machinery and equipment | 23 | €27,725 | €24,470 | -€3,254 | -11.7% |
| Furniture and vehicles | 24 | €9,694 | €8,354 | -€1,340 | -13.8% |
| Current assets | 29/58 | €338,753 | €318,566 | -€20,187 | -6.0% |
| Stocks and contracts in progress | 3 | €47,728 | €52,249 | +€4,521 | +9.5% |
| Stocks | 30/36 | €47,728 | €52,249 | +€4,521 | +9.5% |
| Amounts receivable within one year | 40/41 | €286,897 | €176,589 | -€110,308 | -38.4% |
| Trade receivables | 40 | €273,038 | €140,154 | -€132,884 | -48.7% |
| Other amounts receivable | 41 | €13,859 | €36,434 | +€22,576 | +163% |
| Cash at bank and in hand | 54/58 | €52 | €85,147 | +€85,095 | +163,834% |
| Deferred charges and accrued income | 490/1 | €4,077 | €4,581 | +€505 | +12.4% |
| Total equity and liabilities | 10/49 | €631,306 | €768,027 | +€136,721 | +21.7% |
| Equity | 10/15 | €364,747 | €388,235 | +€23,487 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €358,547 | €382,035 | +€23,487 | +6.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €356,687 | €380,175 | +€23,487 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €266,559 | €379,792 | +€113,234 | +42.5% |
| Amounts payable after more than one year | 17 | €93,808 | €205,327 | +€111,519 | +119% |
| Financial debts | 170/4 | €93,808 | €205,327 | +€111,519 | +119% |
| Amounts payable within one year | 42/48 | €172,751 | €174,465 | +€1,714 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €33,708 | €29,600 | -€4,108 | -12.2% |
| Financial debts | 43 | €20,142 | €0 | -€20,142 | -100% |
| Credit institutions | 430/8 | €20,142 | €0 | -€20,142 | -100% |
| Trade debts | 44 | €39,357 | €128,362 | +€89,006 | +226% |
| Suppliers | 440/4 | €39,357 | €128,362 | +€89,006 | +226% |
| Taxes, remuneration and social security | 45 | €78,859 | €16,014 | -€62,845 | -79.7% |
| Taxes | 450/3 | €55,558 | €9,817 | -€45,742 | -82.3% |
| Remuneration and social security | 454/9 | €23,300 | €6,198 | -€17,103 | -73.4% |
| Other amounts payable | 47/48 | €686 | €489 | -€197 | -28.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €257,306 | €258,695 | +€1,389 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,644 | €35,675 | +€10,031 | +39.1% |
| Other operating charges | 640/8 | €5,065 | €6,209 | +€1,144 | +22.6% |
| Gross operating margin | 9900 | €468,682 | €382,053 | -€86,628 | -18.5% |
| Operating profit (loss) | 9901 | €180,667 | €81,474 | -€99,192 | -54.9% |
| Financial income | 75/76B | €93 | €978 | +€886 | +956% |
| Recurring financial income | 75 | €93 | €978 | +€886 | +956% |
| Financial charges | 65/66B | €9,586 | €8,318 | -€1,268 | -13.2% |
| Recurring financial charges | 65 | €9,586 | €8,318 | -€1,268 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €171,173 | €74,135 | -€97,039 | -56.7% |
| Income taxes | 67/77 | €51,046 | €20,947 | -€30,099 | -59.0% |
| Profit (loss) for the period | 9904 | €120,127 | €53,187 | -€66,940 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €120,127 | €53,187 | -€66,940 | -55.7% |
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 27 October 2026 via checked.be.