PATCH: 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.
PATCH
Largest movements
- Tangible fixed assets -€48,406
down €48,406 (-2.8%), from €1.7m to €1.7m
of which Land and buildings: -€32,126
- Receivables within one year -€33,082
down €33,082 (-42.5%), from €77,810 to €44,728
of which Other amounts receivable: -€24,495
- Profit (loss) carried forward +€102,784
up €102,784 (+18.2%), from -€563,709 to -€460,925
- Debts after one year -€98,671
down €98,671 (-10.7%), from €924,145 to €825,475
- Other debts -€42,500
down €42,500 (-5.4%), from €792,377 to €749,877
- Trade debts -€34,310
down €34,310 (-12.1%), from €283,519 to €249,209
- Gross operating margin +€62,513
up €62,513 (+19.1%), from €327,345 to €389,858
- Depreciation -€6,208
down €6,208 (-7.8%), from €80,031 to €73,823
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 | €1,853,076 | €1,783,467 | -€69,609 | -3.8% |
| Fixed assets | 21/28 | €1,749,038 | €1,700,633 | -€48,406 | -2.8% |
| Tangible fixed assets | 22/27 | €1,749,038 | €1,700,633 | -€48,406 | -2.8% |
| Land and buildings | 22 | €1,699,268 | €1,667,142 | -€32,126 | -1.9% |
| Plant, machinery and equipment | 23 | €48,649 | €25,669 | -€22,980 | -47.2% |
| Other tangible fixed assets | 26 | €1,122 | €7,822 | +€6,700 | +597% |
| Current assets | 29/58 | €104,038 | €82,835 | -€21,203 | -20.4% |
| Amounts receivable within one year | 40/41 | €77,810 | €44,728 | -€33,082 | -42.5% |
| Trade receivables | 40 | €53,310 | €44,722 | -€8,587 | -16.1% |
| Other amounts receivable | 41 | €24,500 | €5 | -€24,495 | -100.0% |
| Cash at bank and in hand | 54/58 | €26,228 | €38,107 | +€11,879 | +45.3% |
| Total equity and liabilities | 10/49 | €1,853,076 | €1,783,467 | -€69,609 | -3.8% |
| Equity | 10/15 | -€303,278 | -€200,494 | +€102,784 | +33.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €198,431 | €198,431 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,890 | €12,890 | = | 0.0% |
| Distributable reserves | 133 | €179,340 | €179,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€563,709 | -€460,925 | +€102,784 | +18.2% |
| Amounts payable | 17/49 | €2,156,354 | €1,983,961 | -€172,393 | -8.0% |
| Amounts payable after more than one year | 17 | €924,145 | €825,475 | -€98,671 | -10.7% |
| Financial debts | 170/4 | €924,145 | €825,475 | -€98,671 | -10.7% |
| Amounts payable within one year | 42/48 | €1,211,003 | €1,135,140 | -€75,863 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €98,671 | €98,671 | = | 0.0% |
| Trade debts | 44 | €283,519 | €249,209 | -€34,310 | -12.1% |
| Suppliers | 440/4 | €283,519 | €249,209 | -€34,310 | -12.1% |
| Taxes, remuneration and social security | 45 | €36,436 | €37,383 | +€947 | +2.6% |
| Taxes | 450/3 | €14,267 | €15,090 | +€823 | +5.8% |
| Remuneration and social security | 454/9 | €22,169 | €22,293 | +€123 | +0.6% |
| Other amounts payable | 47/48 | €792,377 | €749,877 | -€42,500 | -5.4% |
| Accrued charges and deferred income | 492/3 | €21,206 | €23,347 | +€2,141 | +10.1% |
| Remuneration, social security and pensions | 62 | €133,680 | €135,393 | +€1,713 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,031 | €73,823 | -€6,208 | -7.8% |
| Other operating charges | 640/8 | €55,312 | €56,865 | +€1,553 | +2.8% |
| Gross operating margin | 9900 | €327,345 | €389,858 | +€62,513 | +19.1% |
| Operating profit (loss) | 9901 | €58,321 | €123,777 | +€65,456 | +112% |
| Financial income | 75/76B | €15 | €18 | +€4 | +23.8% |
| Recurring financial income | 75 | €15 | €18 | +€4 | +23.8% |
| Financial charges | 65/66B | €20,915 | €21,016 | +€102 | +0.5% |
| Recurring financial charges | 65 | €20,915 | €21,016 | +€102 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €37,422 | €102,779 | +€65,358 | +175% |
| Income taxes | 67/77 | €4 | -€4 | -€9 | |
| Profit (loss) for the period | 9904 | €37,417 | €102,784 | +€65,367 | +175% |
| Profit (loss) for the period to be appropriated | 9905 | €37,417 | €102,784 | +€65,367 | +175% |
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 18 October 2026 via checked.be.