MANAGEMENT PLUS: 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.
MANAGEMENT PLUS
Largest movements
- Financial fixed assets +€60,556
up €60,556 (+70.2%), from €86,275 to €146,831
- Receivables within one year -€47,340
down €47,340 (-88.9%), from €53,225 to €5,885
of which Other amounts receivable: -€44,040
- Cash -€31,222
down €31,222 (-89.2%), from €35,008 to €3,787
mainly Investment in fixed assets (net) (-€69,047) and Current investments (-€21,368)
- Current investments +€21,368
up €21,368 (+10.4%), from €204,522 to €225,890
- Tangible fixed assets -€15,314
down €15,314 (-1.7%), from €920,818 to €905,504
of which Furniture and vehicles: -€13,710
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€221,313
down €221,313 (-90.0%), from €245,982 to €24,669
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 | €1,310,251 | €1,298,275 | -€11,976 | -0.9% |
| Fixed assets | 21/28 | €1,015,093 | €1,060,334 | +€45,242 | +4.5% |
| Intangible fixed assets | 21 | €8,000 | €8,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €920,818 | €905,504 | -€15,314 | -1.7% |
| Land and buildings | 22 | €823,646 | €823,646 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,498 | €666 | -€832 | -55.5% |
| Furniture and vehicles | 24 | €91,272 | €77,562 | -€13,710 | -15.0% |
| Other tangible fixed assets | 26 | €4,403 | €3,630 | -€773 | -17.5% |
| Financial fixed assets | 28 | €86,275 | €146,831 | +€60,556 | +70.2% |
| Current assets | 29/58 | €295,159 | €237,941 | -€57,218 | -19.4% |
| Amounts receivable within one year | 40/41 | €53,225 | €5,885 | -€47,340 | -88.9% |
| Trade receivables | 40 | €8,042 | €4,743 | -€3,299 | -41.0% |
| Other amounts receivable | 41 | €45,183 | €1,142 | -€44,040 | -97.5% |
| Current investments | 50/53 | €204,522 | €225,890 | +€21,368 | +10.4% |
| Cash at bank and in hand | 54/58 | €35,008 | €3,787 | -€31,222 | -89.2% |
| Deferred charges and accrued income | 490/1 | €2,403 | €2,379 | -€24 | -1.0% |
| Total equity and liabilities | 10/49 | €1,310,251 | €1,298,275 | -€11,976 | -0.9% |
| Equity | 10/15 | €1,269,418 | €1,270,921 | +€1,503 | +0.1% |
| Contributions | 10/11 | €1,374,200 | €1,374,200 | = | 0.0% |
| Reserves | 13 | €40,909 | €40,909 | = | 0.0% |
| Distributable reserves | 133 | €40,909 | €40,909 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,691 | -€144,188 | +€1,503 | +1.0% |
| Amounts payable | 17/49 | €40,833 | €27,354 | -€13,479 | -33.0% |
| Amounts payable within one year | 42/48 | €39,852 | €26,342 | -€13,510 | -33.9% |
| Trade debts | 44 | €1,908 | €1,511 | -€397 | -20.8% |
| Suppliers | 440/4 | €1,908 | €1,511 | -€397 | -20.8% |
| Taxes, remuneration and social security | 45 | €3,838 | €3,145 | -€693 | -18.1% |
| Taxes | 450/3 | €3,838 | €3,145 | -€693 | -18.1% |
| Other amounts payable | 47/48 | €34,106 | €21,686 | -€12,420 | -36.4% |
| Accrued charges and deferred income | 492/3 | €981 | €1,012 | +€31 | +3.1% |
| Non-recurring operating income | 76A | €209,398 | - | -€209,398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,189 | €23,805 | -€1,384 | -5.5% |
| Other operating charges | 640/8 | €3,236 | €3,230 | -€6 | -0.2% |
| Gross operating margin | 9900 | €245,982 | €24,669 | -€221,313 | -90.0% |
| Operating profit (loss) | 9901 | €217,557 | -€2,366 | -€219,923 | |
| Financial income | 75/76B | €3,317 | €4,832 | +€1,514 | +45.6% |
| Recurring financial income | 75 | €3,317 | €4,832 | +€1,514 | +45.6% |
| Financial charges | 65/66B | €2,897 | €656 | -€2,241 | -77.4% |
| Recurring financial charges | 65 | €2,897 | €656 | -€2,241 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | €217,977 | €1,810 | -€216,167 | -99.2% |
| Income taxes | 67/77 | €333 | €307 | -€26 | -7.9% |
| Profit (loss) for the period | 9904 | €217,644 | €1,503 | -€216,141 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €217,644 | €1,503 | -€216,141 | -99.3% |
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 3 October 2026 via checked.be.