NEUTRAL: what changed
Two fiscal 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.
NEUTRAL
Largest movements
- Tangible fixed assets -€27,998
down €27,998 (-13.1%), from €214,368 to €186,370
of which Furniture and vehicles: -€23,311
- Receivables within one year -€13,429
down €13,429 (-27.8%), from €48,221 to €34,792
of which Trade receivables: -€15,555
- Profit (loss) carried forward -€46,131
down €46,131 (-72.4%), from -€63,735 to -€109,866
- Trade debts +€9,988
up €9,988 (+695.9%), from €1,435 to €11,423
- Tax, wage and social debts -€5,810
down €5,810 (-44.7%), from €12,994 to €7,184
of which Taxes: -€7,125
- Gross operating margin -€2,840
down €2,840 (-26.6%), from -€10,677 to -€13,517
- Depreciation +€2,224
up €2,224 (+8.3%), from €26,872 to €29,096
- Financial charges -€1,601
down €1,601 (-67.5%), from €2,370 to €769
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.
Cash bridge derived
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 | €266,884 | €224,421 | -€42,462 | -15.9% |
| Fixed assets | 21/28 | €214,368 | €186,370 | -€27,998 | -13.1% |
| Tangible fixed assets | 22/27 | €214,368 | €186,370 | -€27,998 | -13.1% |
| Land and buildings | 22 | €119,404 | €115,323 | -€4,081 | -3.4% |
| Plant, machinery and equipment | 23 | €4,293 | €3,687 | -€605 | -14.1% |
| Furniture and vehicles | 24 | €90,671 | €67,360 | -€23,311 | -25.7% |
| Current assets | 29/58 | €52,516 | €38,051 | -€14,465 | -27.5% |
| Amounts receivable within one year | 40/41 | €48,221 | €34,792 | -€13,429 | -27.8% |
| Trade receivables | 40 | €36,924 | €21,369 | -€15,555 | -42.1% |
| Other amounts receivable | 41 | €11,297 | €13,424 | +€2,127 | +18.8% |
| Cash at bank and in hand | 54/58 | €4,192 | €2,341 | -€1,851 | -44.1% |
| Deferred charges and accrued income | 490/1 | €103 | €918 | +€814 | +788.9% |
| Total equity and liabilities | 10/49 | €266,884 | €224,421 | -€42,462 | -15.9% |
| Equity | 10/15 | €31,737 | -€14,394 | -€46,131 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,272 | €89,272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €0 | = | |
| Distributable reserves | 133 | €87,412 | €89,272 | +€1,860 | +2.1% |
| Profit (loss) carried forward | 14 | -€63,735 | -€109,866 | -€46,131 | -72.4% |
| Amounts payable | 17/49 | €235,147 | €238,816 | +€3,669 | +1.6% |
| Amounts payable after more than one year | 17 | €6,135 | €3,942 | -€2,193 | -35.8% |
| Financial debts | 170/4 | €6,135 | €3,942 | -€2,193 | -35.8% |
| Amounts payable within one year | 42/48 | €229,012 | €234,874 | +€5,862 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €2,152 | €2,193 | +€42 | +1.9% |
| Financial debts | 43 | - | €1,232 | +€1,232 | |
| Other loans | 439 | - | €1,232 | +€1,232 | |
| Trade debts | 44 | €1,435 | €11,423 | +€9,988 | +695.9% |
| Suppliers | 440/4 | €1,435 | €11,423 | +€9,988 | +695.9% |
| Taxes, remuneration and social security | 45 | €12,994 | €7,184 | -€5,810 | -44.7% |
| Taxes | 450/3 | €9,299 | €2,174 | -€7,125 | -76.6% |
| Remuneration and social security | 454/9 | €3,695 | €5,010 | +€1,315 | +35.6% |
| Other amounts payable | 47/48 | €212,431 | €212,841 | +€410 | +0.2% |
| Non-recurring operating income | 76A | - | €4,150 | +€4,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,872 | €29,096 | +€2,224 | +8.3% |
| Other operating charges | 640/8 | €2,152 | €2,247 | +€95 | +4.4% |
| Gross operating margin | 9900 | -€10,677 | -€13,517 | -€2,840 | -26.6% |
| Operating profit (loss) | 9901 | -€39,701 | -€44,860 | -€5,159 | -13.0% |
| Financial income | 75/76B | €102 | €5 | -€97 | -95.1% |
| Recurring financial income | 75 | €102 | €5 | -€97 | -95.1% |
| Financial charges | 65/66B | €2,370 | €769 | -€1,601 | -67.5% |
| Recurring financial charges | 65 | €2,370 | €769 | -€1,601 | -67.5% |
| Profit (loss) for the period before taxes | 9903 | -€41,969 | -€45,624 | -€3,655 | -8.7% |
| Income taxes | 67/77 | €469 | €507 | +€38 | +8.0% |
| Profit (loss) for the period | 9904 | -€42,439 | -€46,131 | -€3,693 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,439 | -€46,131 | -€3,693 | -8.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.