Over the Hedge: 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.
Over the Hedge
Largest movements
- Tangible fixed assets +€134,358
up €134,358 (+376%), from €35,773 to €170,131
of which Land and buildings: +€124,600
- Receivables within one year -€48,725
down €48,725 (-66.7%), from €73,085 to €24,360
of which Trade receivables: -€48,759
- Cash -€23,590
down €23,590 (-41.3%), from €57,096 to €33,507
mainly Investment in fixed assets (net) (-€155,941) and Net result for the year (-€33,866)
- Debts after one year +€123,028
up €123,028 (+453%), from €27,181 to €150,209
- Profit (loss) carried forward -€33,866
down €33,866, from €1,038 to -€32,827
- Tax, wage and social debts -€18,533
down €18,533 (-82.0%), from €22,598 to €4,064
of which Taxes: -€18,894
- Trade debts -€10,846
down €10,846 (-45.1%), from €24,057 to €13,211
- Current portion of long-term debt +€8,127
up €8,127 (+58.2%), from €13,963 to €22,090
- Gross operating margin -€49,079
down €49,079 (-88.1%), from €55,726 to €6,647
- Staff costs -€10,448
down €10,448 (-54.6%), from €19,143 to €8,695
- Depreciation +€6,285
up €6,285 (+41.1%), from €15,297 to €21,582
- Taxes -€5,887
down €5,887 (-96.1%), from €6,128 to €241
- Other operating charges -€4,112
down €4,112 (-61.1%), from €6,725 to €2,613
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 | €175,443 | €237,508 | +€62,065 | +35.4% |
| Fixed assets | 21/28 | €38,023 | €172,381 | +€134,358 | +353% |
| Tangible fixed assets | 22/27 | €35,773 | €170,131 | +€134,358 | +376% |
| Land and buildings | 22 | €22,500 | €147,100 | +€124,600 | +554% |
| Plant, machinery and equipment | 23 | €3,759 | €14,156 | +€10,397 | +277% |
| Furniture and vehicles | 24 | €8,239 | €8,278 | +€39 | +0.5% |
| Other tangible fixed assets | 26 | €1,275 | €597 | -€678 | -53.2% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €137,420 | €65,126 | -€72,293 | -52.6% |
| Stocks and contracts in progress | 3 | €4,000 | €4,000 | = | 0.0% |
| Stocks | 30/36 | €4,000 | €4,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,085 | €24,360 | -€48,725 | -66.7% |
| Trade receivables | 40 | €73,085 | €24,326 | -€48,759 | -66.7% |
| Other amounts receivable | 41 | €0 | €34 | +€34 | |
| Cash at bank and in hand | 54/58 | €57,096 | €33,507 | -€23,590 | -41.3% |
| Deferred charges and accrued income | 490/1 | €3,239 | €3,260 | +€21 | +0.7% |
| Total equity and liabilities | 10/49 | €175,443 | €237,508 | +€62,065 | +35.4% |
| Equity | 10/15 | €68,607 | €34,741 | -€33,866 | -49.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,368 | €61,368 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €61,368 | €61,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,038 | -€32,827 | -€33,866 | |
| Amounts payable | 17/49 | €106,836 | €202,767 | +€95,930 | +89.8% |
| Amounts payable after more than one year | 17 | €27,181 | €150,209 | +€123,028 | +453% |
| Financial debts | 170/4 | €27,181 | €150,209 | +€123,028 | +453% |
| Amounts payable within one year | 42/48 | €79,656 | €52,204 | -€27,452 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €13,963 | €22,090 | +€8,127 | +58.2% |
| Trade debts | 44 | €24,057 | €13,211 | -€10,846 | -45.1% |
| Suppliers | 440/4 | €24,057 | €13,211 | -€10,846 | -45.1% |
| Taxes, remuneration and social security | 45 | €22,598 | €4,064 | -€18,533 | -82.0% |
| Taxes | 450/3 | €22,518 | €3,624 | -€18,894 | -83.9% |
| Remuneration and social security | 454/9 | €80 | €441 | +€361 | +453% |
| Other amounts payable | 47/48 | €19,038 | €12,839 | -€6,200 | -32.6% |
| Accrued charges and deferred income | 492/3 | - | €354 | +€354 | |
| Remuneration, social security and pensions | 62 | €19,143 | €8,695 | -€10,448 | -54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,297 | €21,582 | +€6,285 | +41.1% |
| Other operating charges | 640/8 | €6,725 | €2,613 | -€4,112 | -61.1% |
| Gross operating margin | 9900 | €55,726 | €6,647 | -€49,079 | -88.1% |
| Operating profit (loss) | 9901 | €14,561 | -€26,243 | -€40,804 | |
| Financial income | 75/76B | €227 | €0 | -€227 | -100% |
| Recurring financial income | 75 | €227 | €0 | -€227 | -100% |
| Financial charges | 65/66B | €4,880 | €7,381 | +€2,501 | +51.2% |
| Recurring financial charges | 65 | €4,880 | €7,381 | +€2,501 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €9,908 | -€33,625 | -€43,532 | |
| Income taxes | 67/77 | €6,128 | €241 | -€5,887 | -96.1% |
| Profit (loss) for the period | 9904 | €3,780 | -€33,866 | -€37,645 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,780 | -€33,866 | -€37,645 |
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 29 October 2026 via checked.be.