MARKETLINK: 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.
MARKETLINK
Largest movements
- Receivables within one year -€954,277
down €954,277 (-49.0%), from €1.9m to €992,814
of which Trade receivables: -€952,430
- Cash +€168,925
up €168,925 (+86.6%), from €195,131 to €364,056
mainly Receivables within one year (+€954,277) and Accrued charges and deferred income (+€18,362)
- Trade debts -€680,137
down €680,137 (-49.7%), from €1.4m to €689,282
- Other debts -€97,325
down €97,325 (-25.3%), from €385,249 to €287,924
- Profit (loss) carried forward -€35,171
down €35,171 (-45.0%), from €78,203 to €43,032
- Gross operating margin -€274,843
down €274,843, from €207,158 to -€67,685
- Financial charges -€110,481
down €110,481 (-44.0%), from €251,178 to €140,697
- Financial income +€108,020
up €108,020 (+133.4%), from €80,987 to €189,007
- Taxes -€5,002
down €5,002 (-87.4%), from €5,721 to €719
- Staff costs +€3,200
up €3,200 (+71.4%), from €4,480 to €7,680
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 | €2,227,166 | €1,435,840 | -€791,326 | -35.5% |
| Fixed assets | 21/28 | €84,944 | €78,970 | -€5,974 | -7.0% |
| Tangible fixed assets | 22/27 | €84,944 | €78,970 | -€5,974 | -7.0% |
| Plant, machinery and equipment | 23 | €272 | - | -€272 | |
| Furniture and vehicles | 24 | €84,671 | €78,970 | -€5,701 | -6.7% |
| Current assets | 29/58 | €2,142,222 | €1,356,870 | -€785,352 | -36.7% |
| Amounts receivable within one year | 40/41 | €1,947,091 | €992,814 | -€954,277 | -49.0% |
| Trade receivables | 40 | €1,944,633 | €992,203 | -€952,430 | -49.0% |
| Other amounts receivable | 41 | €2,458 | €611 | -€1,847 | -75.1% |
| Cash at bank and in hand | 54/58 | €195,131 | €364,056 | +€168,925 | +86.6% |
| Total equity and liabilities | 10/49 | €2,227,166 | €1,435,840 | -€791,326 | -35.5% |
| Equity | 10/15 | €420,668 | €385,497 | -€35,171 | -8.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €242,465 | €242,465 | = | 0.0% |
| Distributable reserves | 133 | €242,465 | €242,465 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,203 | €43,032 | -€35,171 | -45.0% |
| Amounts payable | 17/49 | €1,806,497 | €1,050,343 | -€756,154 | -41.9% |
| Amounts payable within one year | 42/48 | €1,777,712 | €1,003,196 | -€774,516 | -43.6% |
| Trade debts | 44 | €1,369,418 | €689,282 | -€680,137 | -49.7% |
| Suppliers | 440/4 | €1,369,418 | €689,282 | -€680,137 | -49.7% |
| Taxes, remuneration and social security | 45 | €23,045 | €25,990 | +€2,945 | +12.8% |
| Taxes | 450/3 | €8,933 | €2,673 | -€6,260 | -70.1% |
| Remuneration and social security | 454/9 | €14,113 | €23,318 | +€9,205 | +65.2% |
| Other amounts payable | 47/48 | €385,249 | €287,924 | -€97,325 | -25.3% |
| Accrued charges and deferred income | 492/3 | €28,785 | €47,147 | +€18,362 | +63.8% |
| Remuneration, social security and pensions | 62 | €4,480 | €7,680 | +€3,200 | +71.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,054 | €5,974 | -€80 | -1.3% |
| Other operating charges | 640/8 | €1,223 | €1,424 | +€201 | +16.4% |
| Gross operating margin | 9900 | €207,158 | -€67,685 | -€274,843 | |
| Operating profit (loss) | 9901 | €195,401 | -€82,762 | -€278,163 | |
| Financial income | 75/76B | €80,987 | €189,007 | +€108,020 | +133.4% |
| Recurring financial income | 75 | €80,987 | €189,007 | +€108,020 | +133.4% |
| Financial charges | 65/66B | €251,178 | €140,697 | -€110,481 | -44.0% |
| Recurring financial charges | 65 | €251,178 | €140,697 | -€110,481 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €25,210 | -€34,452 | -€59,662 | |
| Income taxes | 67/77 | €5,721 | €719 | -€5,002 | -87.4% |
| Profit (loss) for the period | 9904 | €19,489 | -€35,171 | -€54,661 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,489 | -€35,171 | -€54,661 |
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.