N3: 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.
N3
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€19,346
down €19,346 (-16.4%), from €118,162 to €98,815
mainly Current investments (-€100,000) and Debts after one year (-€50,119)
- Tangible fixed assets -€12,565
down €12,565 (-3.8%), from €328,999 to €316,434
of which Land and buildings: -€12,565
- Reserves +€103,138
up €103,138 (+29.1%), from €353,928 to €457,066
- Debts after one year -€50,119
down €50,119 (-47.5%), from €105,550 to €55,431
- Other debts +€17,841
up €17,841 (+69.7%), from €25,607 to €43,448
- Gross operating margin +€19,198
up €19,198 (+9.2%), from €207,913 to €227,111
- Taxes +€9,383
up €9,383 (+18.3%), from €51,290 to €60,673
- Other operating charges -€8,054
down €8,054 (-56.8%), from €14,192 to €6,138
- Depreciation -€4,124
down €4,124 (-18.0%), from €22,851 to €18,727
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 | €538,032 | €605,541 | +€67,510 | +12.5% |
| Fixed assets | 21/28 | €335,820 | €318,566 | -€17,254 | -5.1% |
| Intangible fixed assets | 21 | €6,821 | €2,132 | -€4,689 | -68.7% |
| Tangible fixed assets | 22/27 | €328,999 | €316,434 | -€12,565 | -3.8% |
| Land and buildings | 22 | €328,999 | €316,434 | -€12,565 | -3.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €202,212 | €286,975 | +€84,764 | +41.9% |
| Amounts receivable within one year | 40/41 | €80,587 | €85,525 | +€4,938 | +6.1% |
| Trade receivables | 40 | €76,877 | €84,496 | +€7,619 | +9.9% |
| Other amounts receivable | 41 | €3,710 | €1,029 | -€2,681 | -72.3% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €118,162 | €98,815 | -€19,346 | -16.4% |
| Deferred charges and accrued income | 490/1 | €3,463 | €2,635 | -€828 | -23.9% |
| Total equity and liabilities | 10/49 | €538,032 | €605,541 | +€67,510 | +12.5% |
| Equity | 10/15 | €372,528 | €475,666 | +€103,138 | +27.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €353,928 | €457,066 | +€103,138 | +29.1% |
| Distributable reserves | 133 | €353,928 | €457,066 | +€103,138 | +29.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €165,504 | €129,875 | -€35,629 | -21.5% |
| Amounts payable after more than one year | 17 | €105,550 | €55,431 | -€50,119 | -47.5% |
| Financial debts | 170/4 | €105,550 | €55,431 | -€50,119 | -47.5% |
| Amounts payable within one year | 42/48 | €56,887 | €71,613 | +€14,726 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €19,765 | €20,119 | +€354 | +1.8% |
| Trade debts | 44 | €6,844 | €2,289 | -€4,555 | -66.6% |
| Suppliers | 440/4 | €6,844 | €2,289 | -€4,555 | -66.6% |
| Taxes, remuneration and social security | 45 | €4,671 | €5,756 | +€1,085 | +23.2% |
| Taxes | 450/3 | €3,130 | €5,756 | +€2,627 | +83.9% |
| Remuneration and social security | 454/9 | €1,541 | €0 | -€1,541 | -100% |
| Other amounts payable | 47/48 | €25,607 | €43,448 | +€17,841 | +69.7% |
| Accrued charges and deferred income | 492/3 | €3,067 | €2,831 | -€236 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,851 | €18,727 | -€4,124 | -18.0% |
| Other operating charges | 640/8 | €14,192 | €6,138 | -€8,054 | -56.8% |
| Gross operating margin | 9900 | €207,913 | €227,111 | +€19,198 | +9.2% |
| Operating profit (loss) | 9901 | €170,870 | €202,246 | +€31,376 | +18.4% |
| Financial income | 75/76B | €18 | €0 | -€18 | -99.9% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -99.9% |
| Financial charges | 65/66B | €5,433 | €5,806 | +€373 | +6.9% |
| Recurring financial charges | 65 | €5,433 | €5,806 | +€373 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €165,455 | €196,440 | +€30,985 | +18.7% |
| Income taxes | 67/77 | €51,290 | €60,673 | +€9,383 | +18.3% |
| Profit (loss) for the period | 9904 | €114,166 | €135,767 | +€21,602 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,166 | €135,767 | +€21,602 | +18.9% |
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 17 October 2026 via checked.be.