MAKE IT REAL!: 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.
MAKE IT REAL!
Largest movements
- Cash +€32,082
up €32,082 (+11.7%), from €274,362 to €306,444
mainly Net result for the year (+€81,993) and Other debts (+€10,840)
- Tangible fixed assets -€10,739
down €10,739 (-5.3%), from €201,568 to €190,829
of which Land and buildings: -€6,477
- Reserves +€60,000
up €60,000 (+68.4%), from €87,690 to €147,690
of which Distributable reserves: +€60,000
- Tax, wage and social debts -€24,984
down €24,984 (-62.0%), from €40,278 to €15,294
- Profit (loss) carried forward -€18,007
down €18,007 (-10.1%), from €177,850 to €159,843
- Other debts +€10,840
up €10,840 (+36.1%), from €30,000 to €40,840
- Debts after one year -€10,048
down €10,048 (-7.7%), from €130,723 to €120,675
- Taxes -€5,025
down €5,025 (-17.3%), from €29,115 to €24,090
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 | €478,327 | €499,268 | +€20,941 | +4.4% |
| Fixed assets | 21/28 | €201,568 | €190,829 | -€10,739 | -5.3% |
| Tangible fixed assets | 22/27 | €201,568 | €190,829 | -€10,739 | -5.3% |
| Land and buildings | 22 | €179,228 | €172,750 | -€6,477 | -3.6% |
| Plant, machinery and equipment | 23 | €895 | €597 | -€298 | -33.3% |
| Furniture and vehicles | 24 | €21,445 | €17,482 | -€3,963 | -18.5% |
| Current assets | 29/58 | €276,759 | €308,439 | +€31,680 | +11.4% |
| Amounts receivable within one year | 40/41 | €986 | €964 | -€22 | -2.2% |
| Other amounts receivable | 41 | €986 | €964 | -€22 | -2.2% |
| Cash at bank and in hand | 54/58 | €274,362 | €306,444 | +€32,082 | +11.7% |
| Deferred charges and accrued income | 490/1 | €1,411 | €1,030 | -€381 | -27.0% |
| Total equity and liabilities | 10/49 | €478,327 | €499,268 | +€20,941 | +4.4% |
| Equity | 10/15 | €265,640 | €307,633 | +€41,993 | +15.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €87,690 | €147,690 | +€60,000 | +68.4% |
| Tax-exempt reserves | 132 | €12,690 | €12,690 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €135,000 | +€60,000 | +80.0% |
| Profit (loss) carried forward | 14 | €177,850 | €159,843 | -€18,007 | -10.1% |
| Amounts payable | 17/49 | €212,687 | €191,635 | -€21,052 | -9.9% |
| Amounts payable after more than one year | 17 | €130,723 | €120,675 | -€10,048 | -7.7% |
| Financial debts | 170/4 | €130,723 | €120,675 | -€10,048 | -7.7% |
| Amounts payable within one year | 42/48 | €81,364 | €68,704 | -€12,659 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €9,877 | €10,048 | +€171 | +1.7% |
| Trade debts | 44 | €1,209 | €2,522 | +€1,313 | +108.6% |
| Suppliers | 440/4 | €1,209 | €2,522 | +€1,313 | +108.6% |
| Taxes, remuneration and social security | 45 | €40,278 | €15,294 | -€24,984 | -62.0% |
| Taxes | 450/3 | €40,278 | €15,294 | -€24,984 | -62.0% |
| Other amounts payable | 47/48 | €30,000 | €40,840 | +€10,840 | +36.1% |
| Accrued charges and deferred income | 492/3 | €600 | €2,255 | +€1,655 | +275.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,562 | €10,739 | +€177 | +1.7% |
| Other operating charges | 640/8 | €953 | €1,337 | +€384 | +40.3% |
| Gross operating margin | 9900 | €121,152 | €120,700 | -€452 | -0.4% |
| Operating profit (loss) | 9901 | €109,637 | €108,624 | -€1,013 | -0.9% |
| Financial income | 75/76B | €7 | €21 | +€14 | +193.0% |
| Recurring financial income | 75 | €7 | €21 | +€14 | +193.0% |
| Financial charges | 65/66B | €2,848 | €2,562 | -€286 | -10.0% |
| Recurring financial charges | 65 | €2,848 | €2,562 | -€286 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €106,796 | €106,083 | -€713 | -0.7% |
| Income taxes | 67/77 | €29,115 | €24,090 | -€5,025 | -17.3% |
| Profit (loss) for the period | 9904 | €77,681 | €81,993 | +€4,312 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,681 | €81,993 | +€4,312 | +5.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.