Mentaliteit: 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.
Mentaliteit
Largest movements
- Tangible fixed assets +€249,425
up €249,425 (+50.9%), from €489,646 to €739,071
of which Assets under construction and advance payments: +€139,758
- Receivables within one year +€210,932
up €210,932 (+27.4%), from €769,173 to €980,105
of which Trade receivables: +€193,405
- Cash +€36,102
up €36,102 (+40.3%), from €89,599 to €125,701
mainly Debts after one year (+€187,881) and Depreciation (+€140,827)
- Debts after one year +€187,881
up €187,881 (+50.7%), from €370,458 to €558,339
- Tax, wage and social debts +€125,237
up €125,237 (+50.1%), from €250,173 to €375,410
of which Remuneration and social security: +€97,530
- Profit (loss) carried forward +€78,473
up €78,473 (+35.2%), from €222,879 to €301,352
- Short-term financial debts +€51,702
up €51,702 (+18.3%), from €282,594 to €334,296
of which Credit institutions: +€50,708
- Current portion of long-term debt +€22,465
up €22,465 (+17.7%), from €126,894 to €149,358
- Staff costs +€504,588
up €504,588 (+46.0%), from €1.1m to €1.6m
- Gross operating margin +€496,592
up €496,592 (+33.9%), from €1.5m to €2.0m
- Depreciation +€53,081
up €53,081 (+60.5%), from €87,746 to €140,827
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 | €1,375,446 | €1,867,746 | +€492,300 | +35.8% |
| Fixed assets | 21/28 | €489,686 | €739,111 | +€249,425 | +50.9% |
| Tangible fixed assets | 22/27 | €489,646 | €739,071 | +€249,425 | +50.9% |
| Land and buildings | 22 | - | €137,600 | +€137,600 | |
| Plant, machinery and equipment | 23 | €5,132 | €1,692 | -€3,439 | -67.0% |
| Furniture and vehicles | 24 | €5,422 | €4,563 | -€860 | -15.9% |
| Leasing and similar rights | 25 | €479,092 | €455,458 | -€23,634 | -4.9% |
| Assets under construction and advance payments | 27 | - | €139,758 | +€139,758 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €885,760 | €1,128,635 | +€242,875 | +27.4% |
| Amounts receivable within one year | 40/41 | €769,173 | €980,105 | +€210,932 | +27.4% |
| Trade receivables | 40 | €761,173 | €954,578 | +€193,405 | +25.4% |
| Other amounts receivable | 41 | €8,000 | €25,527 | +€17,527 | +219% |
| Cash at bank and in hand | 54/58 | €89,599 | €125,701 | +€36,102 | +40.3% |
| Deferred charges and accrued income | 490/1 | €26,988 | €22,828 | -€4,160 | -15.4% |
| Total equity and liabilities | 10/49 | €1,375,446 | €1,867,746 | +€492,300 | +35.8% |
| Equity | 10/15 | €229,079 | €307,552 | +€78,473 | +34.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €222,879 | €301,352 | +€78,473 | +35.2% |
| Amounts payable | 17/49 | €1,146,367 | €1,560,194 | +€413,827 | +36.1% |
| Amounts payable after more than one year | 17 | €370,458 | €558,339 | +€187,881 | +50.7% |
| Financial debts | 170/4 | €370,458 | €558,339 | +€187,881 | +50.7% |
| Amounts payable within one year | 42/48 | €774,887 | €989,998 | +€215,111 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €126,894 | €149,358 | +€22,465 | +17.7% |
| Financial debts | 43 | €282,594 | €334,296 | +€51,702 | +18.3% |
| Credit institutions | 430/8 | €237,594 | €288,301 | +€50,708 | +21.3% |
| Other loans | 439 | €45,000 | €45,995 | +€995 | +2.2% |
| Trade debts | 44 | €115,227 | €130,934 | +€15,706 | +13.6% |
| Suppliers | 440/4 | €115,227 | €130,934 | +€15,706 | +13.6% |
| Taxes, remuneration and social security | 45 | €250,173 | €375,410 | +€125,237 | +50.1% |
| Taxes | 450/3 | €37,113 | €64,820 | +€27,707 | +74.7% |
| Remuneration and social security | 454/9 | €213,060 | €310,590 | +€97,530 | +45.8% |
| Accrued charges and deferred income | 492/3 | €1,021 | €11,857 | +€10,836 | +1,061% |
| Non-recurring operating income | 76A | €21,476 | €0 | -€21,476 | -100% |
| Remuneration, social security and pensions | 62 | €1,097,741 | €1,602,330 | +€504,588 | +46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,746 | €140,827 | +€53,081 | +60.5% |
| Other operating charges | 640/8 | €17,625 | €23,884 | +€6,259 | +35.5% |
| Gross operating margin | 9900 | €1,462,926 | €1,959,518 | +€496,592 | +33.9% |
| Operating profit (loss) | 9901 | €259,814 | €192,477 | -€67,336 | -25.9% |
| Financial income | 75/76B | €3,405 | €1,526 | -€1,879 | -55.2% |
| Recurring financial income | 75 | €3,405 | €1,526 | -€1,879 | -55.2% |
| Financial charges | 65/66B | €56,488 | €66,196 | +€9,708 | +17.2% |
| Recurring financial charges | 65 | €56,488 | €66,196 | +€9,708 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €206,730 | €127,808 | -€78,923 | -38.2% |
| Income taxes | 67/77 | €61,000 | €49,335 | -€11,665 | -19.1% |
| Profit (loss) for the period | 9904 | €145,730 | €78,473 | -€67,257 | -46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €145,730 | €78,473 | -€67,257 | -46.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.