MASTER SHOT: 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.
MASTER SHOT
Largest movements
- Tangible fixed assets +€186,508
up €186,508 (+815%), from €22,879 to €209,387
of which Land and buildings: +€195,233
- Cash -€74,418
down €74,418 (-56.2%), from €132,447 to €58,029
mainly Investment in fixed assets (net) (-€199,269) and Other debts (-€39,153)
- Receivables within one year +€14,424
up €14,424 (+238%), from €6,064 to €20,488
of which Trade receivables: +€20,488
- Debts after one year +€150,390
new in 2025: €150,390
- Other debts -€39,153
down €39,153 (-31.8%), from €122,954 to €83,802
- Tax, wage and social debts +€11,833
up €11,833 (+182%), from €6,487 to €18,320
of which Taxes: +€8,837
- Reserves +€4,134
up €4,134 (+37.8%), from €10,926 to €15,059
of which Distributable reserves: +€4,134
- Staff costs +€15,378
up €15,378 (+35.6%), from €43,180 to €58,558
- Gross operating margin +€5,235
up €5,235 (+7.0%), from €74,976 to €80,211
- Depreciation -€4,168
down €4,168 (-24.6%), from €16,928 to €12,761
- Taxes -€1,613
down €1,613 (-41.0%), from €3,936 to €2,323
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 | €163,230 | €289,446 | +€126,217 | +77.3% |
| Fixed assets | 21/28 | €22,929 | €209,437 | +€186,508 | +813% |
| Tangible fixed assets | 22/27 | €22,879 | €209,387 | +€186,508 | +815% |
| Land and buildings | 22 | - | €195,233 | +€195,233 | |
| Plant, machinery and equipment | 23 | €1,235 | €1,223 | -€12 | -1.0% |
| Furniture and vehicles | 24 | €17,806 | €10,602 | -€7,204 | -40.5% |
| Other tangible fixed assets | 26 | €3,838 | €2,329 | -€1,509 | -39.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €140,300 | €80,009 | -€60,292 | -43.0% |
| Amounts receivable within one year | 40/41 | €6,064 | €20,488 | +€14,424 | +238% |
| Trade receivables | 40 | - | €20,488 | +€20,488 | |
| Other amounts receivable | 41 | €6,064 | - | -€6,064 | |
| Cash at bank and in hand | 54/58 | €132,447 | €58,029 | -€74,418 | -56.2% |
| Deferred charges and accrued income | 490/1 | €1,789 | €1,491 | -€298 | -16.6% |
| Total equity and liabilities | 10/49 | €163,230 | €289,446 | +€126,217 | +77.3% |
| Equity | 10/15 | €29,526 | €33,659 | +€4,134 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,926 | €15,059 | +€4,134 | +37.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,066 | €13,199 | +€4,134 | +45.6% |
| Amounts payable | 17/49 | €133,704 | €255,787 | +€122,083 | +91.3% |
| Amounts payable after more than one year | 17 | - | €150,390 | +€150,390 | |
| Financial debts | 170/4 | - | €150,390 | +€150,390 | |
| Amounts payable within one year | 42/48 | €133,704 | €105,397 | -€28,307 | -21.2% |
| Trade debts | 44 | €4,262 | €3,275 | -€988 | -23.2% |
| Suppliers | 440/4 | €4,262 | €3,275 | -€988 | -23.2% |
| Taxes, remuneration and social security | 45 | €6,487 | €18,320 | +€11,833 | +182% |
| Taxes | 450/3 | €3,721 | €12,557 | +€8,837 | +237% |
| Remuneration and social security | 454/9 | €2,766 | €5,763 | +€2,997 | +108% |
| Other amounts payable | 47/48 | €122,954 | €83,802 | -€39,153 | -31.8% |
| Remuneration, social security and pensions | 62 | €43,180 | €58,558 | +€15,378 | +35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,928 | €12,761 | -€4,168 | -24.6% |
| Other operating charges | 640/8 | €340 | €679 | +€339 | +99.7% |
| Gross operating margin | 9900 | €74,976 | €80,211 | +€5,235 | +7.0% |
| Operating profit (loss) | 9901 | €14,528 | €8,213 | -€6,315 | -43.5% |
| Financial income | 75/76B | €151 | - | -€151 | |
| Recurring financial income | 75 | €151 | - | -€151 | |
| Financial charges | 65/66B | €1,677 | €1,756 | +€79 | +4.7% |
| Recurring financial charges | 65 | €1,677 | €1,756 | +€79 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €13,002 | €6,457 | -€6,545 | -50.3% |
| Income taxes | 67/77 | €3,936 | €2,323 | -€1,613 | -41.0% |
| Profit (loss) for the period | 9904 | €9,066 | €4,134 | -€4,932 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,066 | €4,134 | -€4,932 | -54.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.