NATALIE MCNELIS: 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.
NATALIE MCNELIS
Largest movements
- Tangible fixed assets -€6,695
down €6,695 (-31.0%), from €21,607 to €14,912
of which Land and buildings: -€6,062
- Receivables within one year -€500
down €500 (-6.2%), from €8,047 to €7,547
- Current investments +€355
new in 2025: €355
- Cash -€344
no longer reported in 2025 (was €344)
mainly Net result for the year (-€8,436) and Current investments (-€355)
- Profit (loss) carried forward -€8,436
down €8,436 (-38.5%), from €21,938 to €13,502
- Trade debts +€1,252
new in 2025: €1,252
- Depreciation -€370
down €370 (-5.2%), from €7,065 to €6,695
- Other operating charges +€307
up €307 (+379%), from €81 to €387
- Gross operating margin +€249
up €249 (+16.6%), from -€1,500 to -€1,252
- Financial charges +€98
up €98 (+2,792%), from €4 to €102
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 | €29,998 | €22,813 | -€7,184 | -23.9% |
| Fixed assets | 21/28 | €21,607 | €14,912 | -€6,695 | -31.0% |
| Tangible fixed assets | 22/27 | €21,607 | €14,912 | -€6,695 | -31.0% |
| Land and buildings | 22 | €20,975 | €14,912 | -€6,062 | -28.9% |
| Furniture and vehicles | 24 | €633 | €0 | -€633 | -100% |
| Current assets | 29/58 | €8,390 | €7,901 | -€489 | -5.8% |
| Amounts receivable within one year | 40/41 | €8,047 | €7,547 | -€500 | -6.2% |
| Other amounts receivable | 41 | €8,047 | €7,547 | -€500 | -6.2% |
| Current investments | 50/53 | - | €355 | +€355 | |
| Cash at bank and in hand | 54/58 | €344 | - | -€344 | |
| Total equity and liabilities | 10/49 | €29,998 | €22,813 | -€7,184 | -23.9% |
| Equity | 10/15 | €29,998 | €21,562 | -€8,436 | -28.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €21,938 | €13,502 | -€8,436 | -38.5% |
| Amounts payable | 17/49 | - | €1,252 | +€1,252 | |
| Amounts payable within one year | 42/48 | - | €1,252 | +€1,252 | |
| Trade debts | 44 | - | €1,252 | +€1,252 | |
| Suppliers | 440/4 | - | €1,252 | +€1,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,065 | €6,695 | -€370 | -5.2% |
| Other operating charges | 640/8 | €81 | €387 | +€307 | +379% |
| Gross operating margin | 9900 | -€1,500 | -€1,252 | +€249 | +16.6% |
| Operating profit (loss) | 9901 | -€8,646 | -€8,334 | +€312 | +3.6% |
| Financial charges | 65/66B | €4 | €102 | +€98 | +2,792% |
| Recurring financial charges | 65 | €4 | €102 | +€98 | +2,792% |
| Profit (loss) for the period before taxes | 9903 | -€8,650 | -€8,436 | +€214 | +2.5% |
| Profit (loss) for the period | 9904 | -€8,650 | -€8,436 | +€214 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,650 | -€8,436 | +€214 | +2.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.