MICHIEL SCHAEVERBEKE: 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.
MICHIEL SCHAEVERBEKE
Largest movements
- Cash +€31,828
up €31,828 (+363%), from €8,775 to €40,603
mainly Net result for the year (+€28,745) and Depreciation (+€23,646)
- Tangible fixed assets -€19,896
down €19,896 (-31.9%), from €62,360 to €42,464
of which Land and buildings: -€23,481
- Receivables within one year +€11,012
up €11,012 (+54.5%), from €20,192 to €31,205
of which Trade receivables: +€11,816
- Deferred charges and accrued income -€2,843
down €2,843 (-86.9%), from €3,273 to €430
- Profit (loss) carried forward +€28,745
up €28,745 (+55.9%), from -€51,455 to -€22,710
- Current portion of long-term debt -€14,285
down €14,285 (-76.3%), from €18,717 to €4,432
- Debts after one year +€3,622
up €3,622 (+4.6%), from €78,115 to €81,737
- Tax, wage and social debts +€2,375
up €2,375 (+3,420%), from €69 to €2,444
- Gross operating margin +€41,017
up €41,017 (+163%), from €25,143 to €66,160
- Financial charges +€3,336
up €3,336 (+68.5%), from €4,872 to €8,207
- Other operating charges +€2,695
up €2,695 (+94.0%), from €2,867 to €5,562
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 | €94,600 | €114,702 | +€20,102 | +21.2% |
| Fixed assets | 21/28 | €62,360 | €42,464 | -€19,896 | -31.9% |
| Tangible fixed assets | 22/27 | €62,360 | €42,464 | -€19,896 | -31.9% |
| Land and buildings | 22 | €61,960 | €38,479 | -€23,481 | -37.9% |
| Plant, machinery and equipment | 23 | €400 | €300 | -€100 | -25.0% |
| Furniture and vehicles | 24 | - | €3,685 | +€3,685 | |
| Current assets | 29/58 | €32,240 | €72,238 | +€39,998 | +124% |
| Amounts receivable within one year | 40/41 | €20,192 | €31,205 | +€11,012 | +54.5% |
| Trade receivables | 40 | - | €11,816 | +€11,816 | |
| Other amounts receivable | 41 | €20,192 | €19,389 | -€803 | -4.0% |
| Cash at bank and in hand | 54/58 | €8,775 | €40,603 | +€31,828 | +363% |
| Deferred charges and accrued income | 490/1 | €3,273 | €430 | -€2,843 | -86.9% |
| Total equity and liabilities | 10/49 | €94,600 | €114,702 | +€20,102 | +21.2% |
| Equity | 10/15 | -€3,002 | €25,743 | +€28,745 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €36,052 | €36,052 | = | 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% |
| Distributable reserves | 133 | €34,192 | €34,192 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,455 | -€22,710 | +€28,745 | +55.9% |
| Amounts payable | 17/49 | €97,602 | €88,959 | -€8,643 | -8.9% |
| Amounts payable after more than one year | 17 | €78,115 | €81,737 | +€3,622 | +4.6% |
| Financial debts | 170/4 | €78,115 | €81,737 | +€3,622 | +4.6% |
| Amounts payable within one year | 42/48 | €19,487 | €7,222 | -€12,265 | -62.9% |
| Current portion of amounts payable after more than one year | 42 | €18,717 | €4,432 | -€14,285 | -76.3% |
| Trade debts | 44 | €700 | €345 | -€355 | -50.7% |
| Suppliers | 440/4 | €700 | €345 | -€355 | -50.7% |
| Taxes, remuneration and social security | 45 | €69 | €2,444 | +€2,375 | +3,420% |
| Taxes | 450/3 | €69 | €2,444 | +€2,375 | +3,420% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,701 | €23,646 | -€55 | -0.2% |
| Other operating charges | 640/8 | €2,867 | €5,562 | +€2,695 | +94.0% |
| Gross operating margin | 9900 | €25,143 | €66,160 | +€41,017 | +163% |
| Operating profit (loss) | 9901 | -€1,424 | €36,953 | +€38,377 | |
| Financial income | 75/76B | €60 | - | -€60 | |
| Recurring financial income | 75 | €60 | - | -€60 | |
| Financial charges | 65/66B | €4,872 | €8,207 | +€3,336 | +68.5% |
| Recurring financial charges | 65 | €4,872 | €8,207 | +€3,336 | +68.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,236 | €28,745 | +€34,981 | |
| Profit (loss) for the period | 9904 | -€6,236 | €28,745 | +€34,981 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,236 | €28,745 | +€34,981 |
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 26 October 2026 via checked.be.