MD-AFSLUITINGEN: 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.
MD-AFSLUITINGEN
Largest movements
- Tangible fixed assets -€56,267
down €56,267 (-15.0%), from €375,585 to €319,318
of which Furniture and vehicles: -€29,310
- Stocks and contracts -€39,000
down €39,000 (-28.9%), from €135,000 to €96,000
- Receivables within one year -€25,125
down €25,125 (-8.0%), from €312,865 to €287,740
of which Trade receivables: -€50,511
- Cash +€10,842
up €10,842 (+607%), from €1,786 to €12,628
mainly Depreciation (+€75,388) and Stocks and contracts (+€39,000)
- Debts after one year -€64,558
down €64,558 (-33.2%), from €194,265 to €129,707
- Reserves -€57,001
down €57,001 (-20.7%), from €274,964 to €217,963
of which Distributable reserves: -€57,001
- Trade debts +€28,280
up €28,280 (+16.0%), from €176,463 to €204,744
- Short-term financial debts -€23,991
down €23,991 (-24.4%), from €98,470 to €74,479
- Gross operating margin -€48,520
down €48,520 (-30.5%), from €159,332 to €110,812
- Staff costs -€48,346
down €48,346 (-41.6%), from €116,283 to €67,938
- Financial charges +€3,737
up €3,737 (+19.2%), from €19,482 to €23,219
- Financial income +€3,160
up €3,160 (+1,155%), from €274 to €3,433
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 | €831,026 | €715,686 | -€115,340 | -13.9% |
| Fixed assets | 21/28 | €375,585 | €319,318 | -€56,267 | -15.0% |
| Tangible fixed assets | 22/27 | €375,585 | €319,318 | -€56,267 | -15.0% |
| Land and buildings | 22 | €148,224 | €135,923 | -€12,301 | -8.3% |
| Plant, machinery and equipment | 23 | €36,267 | €24,803 | -€11,464 | -31.6% |
| Furniture and vehicles | 24 | €79,459 | €50,149 | -€29,310 | -36.9% |
| Other tangible fixed assets | 26 | €111,636 | €108,443 | -€3,192 | -2.9% |
| Current assets | 29/58 | €455,441 | €396,368 | -€59,073 | -13.0% |
| Stocks and contracts in progress | 3 | €135,000 | €96,000 | -€39,000 | -28.9% |
| Stocks | 30/36 | €135,000 | €96,000 | -€39,000 | -28.9% |
| Amounts receivable within one year | 40/41 | €312,865 | €287,740 | -€25,125 | -8.0% |
| Trade receivables | 40 | €283,213 | €232,702 | -€50,511 | -17.8% |
| Other amounts receivable | 41 | €29,653 | €55,038 | +€25,385 | +85.6% |
| Cash at bank and in hand | 54/58 | €1,786 | €12,628 | +€10,842 | +607% |
| Deferred charges and accrued income | 490/1 | €5,790 | €0 | -€5,790 | -100% |
| Total equity and liabilities | 10/49 | €831,026 | €715,686 | -€115,340 | -13.9% |
| Equity | 10/15 | €293,564 | €236,563 | -€57,001 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €274,964 | €217,963 | -€57,001 | -20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €274,964 | €217,963 | -€57,001 | -20.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €537,462 | €479,123 | -€58,339 | -10.9% |
| Amounts payable after more than one year | 17 | €194,265 | €129,707 | -€64,558 | -33.2% |
| Financial debts | 170/4 | €194,265 | €129,707 | -€64,558 | -33.2% |
| Amounts payable within one year | 42/48 | €343,198 | €349,416 | +€6,219 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €62,658 | €64,558 | +€1,900 | +3.0% |
| Financial debts | 43 | €98,470 | €74,479 | -€23,991 | -24.4% |
| Credit institutions | 430/8 | €98,470 | €74,479 | -€23,991 | -24.4% |
| Trade debts | 44 | €176,463 | €204,744 | +€28,280 | +16.0% |
| Suppliers | 440/4 | €176,463 | €204,744 | +€28,280 | +16.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,607 | €1,261 | -€4,346 | -77.5% |
| Taxes | 450/3 | €740 | €1,054 | +€314 | +42.4% |
| Remuneration and social security | 454/9 | €4,867 | €207 | -€4,660 | -95.7% |
| Other amounts payable | 47/48 | €0 | €4,375 | +€4,375 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €116,283 | €67,938 | -€48,346 | -41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,324 | €75,388 | +€1,064 | +1.4% |
| Other operating charges | 640/8 | €4,530 | €4,388 | -€142 | -3.1% |
| Gross operating margin | 9900 | €159,332 | €110,812 | -€48,520 | -30.5% |
| Operating profit (loss) | 9901 | -€35,806 | -€36,903 | -€1,096 | -3.1% |
| Financial income | 75/76B | €274 | €3,433 | +€3,160 | +1,155% |
| Recurring financial income | 75 | €274 | €3,433 | +€3,160 | +1,155% |
| Financial charges | 65/66B | €19,482 | €23,219 | +€3,737 | +19.2% |
| Recurring financial charges | 65 | €19,482 | €23,219 | +€3,737 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | -€55,015 | -€56,689 | -€1,674 | -3.0% |
| Income taxes | 67/77 | €281 | €312 | +€32 | +11.3% |
| Profit (loss) for the period | 9904 | -€55,295 | -€57,001 | -€1,706 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,295 | -€57,001 | -€1,706 | -3.1% |
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 18 October 2026 via checked.be.