MASTER CONCEPT: 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.
MASTER CONCEPT
Largest movements
- Cash -€234,965
down €234,965 (-53.3%), from €441,184 to €206,219
mainly Trade debts (-€234,928) and Other debts (-€133,114)
- Receivables within one year -€174,230
down €174,230 (-49.0%), from €355,821 to €181,591
of which Trade receivables: -€161,397
- Tangible fixed assets +€31,426
up €31,426 (+49.4%), from €63,655 to €95,081
- Deferred charges and accrued income +€19,151
new in 2025: €19,151
- Trade debts -€234,928
down €234,928 (-45.3%), from €518,642 to €283,713
- Other debts -€133,114
down €133,114 (-96.9%), from €137,314 to €4,200
- Profit (loss) carried forward +€14,499
up €14,499 (+9.0%), from €161,001 to €175,499
- Gross operating margin -€63,834
down €63,834 (-55.0%), from €116,102 to €52,268
- Taxes -€18,736
down €18,736 (-72.7%), from €25,781 to €7,044
- Other operating charges +€2,455
up €2,455 (+46.4%), from €5,291 to €7,746
- Financial income +€1,684
up €1,684 (+35.1%), from €4,804 to €6,487
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 | €860,661 | €502,042 | -€358,619 | -41.7% |
| Fixed assets | 21/28 | €63,655 | €95,081 | +€31,426 | +49.4% |
| Tangible fixed assets | 22/27 | €63,655 | €95,081 | +€31,426 | +49.4% |
| Furniture and vehicles | 24 | €63,655 | €95,081 | +€31,426 | +49.4% |
| Current assets | 29/58 | €797,006 | €406,961 | -€390,045 | -48.9% |
| Amounts receivable within one year | 40/41 | €355,821 | €181,591 | -€174,230 | -49.0% |
| Trade receivables | 40 | €248,731 | €87,334 | -€161,397 | -64.9% |
| Other amounts receivable | 41 | €107,090 | €94,257 | -€12,833 | -12.0% |
| Cash at bank and in hand | 54/58 | €441,184 | €206,219 | -€234,965 | -53.3% |
| Deferred charges and accrued income | 490/1 | - | €19,151 | +€19,151 | |
| Total equity and liabilities | 10/49 | €860,661 | €502,042 | -€358,619 | -41.7% |
| Equity | 10/15 | €169,061 | €183,559 | +€14,499 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,001 | €175,499 | +€14,499 | +9.0% |
| Amounts payable | 17/49 | €691,600 | €318,483 | -€373,118 | -53.9% |
| Amounts payable within one year | 42/48 | €691,600 | €318,483 | -€373,118 | -53.9% |
| Trade debts | 44 | €518,642 | €283,713 | -€234,928 | -45.3% |
| Suppliers | 440/4 | €518,642 | €283,713 | -€234,928 | -45.3% |
| Taxes, remuneration and social security | 45 | €35,644 | €30,569 | -€5,075 | -14.2% |
| Taxes | 450/3 | €25,979 | €20,917 | -€5,062 | -19.5% |
| Remuneration and social security | 454/9 | €9,665 | €9,653 | -€13 | -0.1% |
| Other amounts payable | 47/48 | €137,314 | €4,200 | -€133,114 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,605 | €29,169 | -€436 | -1.5% |
| Other operating charges | 640/8 | €5,291 | €7,746 | +€2,455 | +46.4% |
| Gross operating margin | 9900 | €116,102 | €52,268 | -€63,834 | -55.0% |
| Operating profit (loss) | 9901 | €81,206 | €15,353 | -€65,853 | -81.1% |
| Financial income | 75/76B | €4,804 | €6,487 | +€1,684 | +35.1% |
| Recurring financial income | 75 | €4,804 | €6,487 | +€1,684 | +35.1% |
| Financial charges | 65/66B | €1,157 | €298 | -€859 | -74.3% |
| Recurring financial charges | 65 | €1,157 | €298 | -€859 | -74.3% |
| Profit (loss) for the period before taxes | 9903 | €84,853 | €21,543 | -€63,310 | -74.6% |
| Income taxes | 67/77 | €25,781 | €7,044 | -€18,736 | -72.7% |
| Profit (loss) for the period | 9904 | €59,072 | €14,499 | -€44,574 | -75.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,072 | €14,499 | -€44,574 | -75.5% |
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 2 October 2026 via checked.be.