PRESENT: 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.
PRESENT
Largest movements
- Stocks and contracts -€34,687
down €34,687 (-20.7%), from €167,931 to €133,243
- Tangible fixed assets -€27,660
down €27,660 (-7.5%), from €368,540 to €340,880
of which Other tangible fixed assets: -€15,317
- Intangible fixed assets -€19,616
down €19,616 (-34.5%), from €56,864 to €37,248
- Receivables within one year +€19,185
up €19,185 (+83.4%), from €23,007 to €42,193
of which Other amounts receivable: +€9,935
- Cash -€12,272
down €12,272 (-51.2%), from €23,955 to €11,683
mainly Net result for the year (-€99,333) and Receivables within one year (-€19,185)
- Profit (loss) carried forward -€99,333
down €99,333 (-145.4%), from -€68,312 to -€167,644
- Trade debts +€32,726
up €32,726 (+51.0%), from €64,230 to €96,956
- Debts after one year -€10,290
down €10,290 (-3.0%), from €344,054 to €333,764
- Provisions -€10,000
no longer reported in 2025 (was €10,000)
- Current portion of long-term debt +€9,715
up €9,715 (+23.9%), from €40,575 to €50,290
- Gross operating margin -€29,313
down €29,313 (-13.0%), from €225,880 to €196,568
- Provisions -€10,000
new in 2025: -€10,000
- Financial income +€3,443
up €3,443 (+305.2%), from €1,128 to €4,571
of which Non-recurring financial income: +€3,000
- Depreciation -€3,331
down €3,331 (-6.2%), from €53,967 to €50,635
- Write-downs -€3,146
down €3,146, from €333 to -€2,813
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 | €665,879 | €589,684 | -€76,195 | -11.4% |
| Fixed assets | 21/28 | €431,264 | €383,689 | -€47,575 | -11.0% |
| Intangible fixed assets | 21 | €56,864 | €37,248 | -€19,616 | -34.5% |
| Tangible fixed assets | 22/27 | €368,540 | €340,880 | -€27,660 | -7.5% |
| Land and buildings | 22 | €304,821 | €293,194 | -€11,627 | -3.8% |
| Furniture and vehicles | 24 | €1,763 | €1,047 | -€716 | -40.6% |
| Other tangible fixed assets | 26 | €61,956 | €46,639 | -€15,317 | -24.7% |
| Financial fixed assets | 28 | €5,860 | €5,560 | -€300 | -5.1% |
| Current assets | 29/58 | €234,615 | €205,996 | -€28,619 | -12.2% |
| Amounts receivable after more than one year | 29 | €14,451 | €14,798 | +€347 | +2.4% |
| Other amounts receivable | 291 | €14,451 | €14,798 | +€347 | +2.4% |
| Stocks and contracts in progress | 3 | €167,931 | €133,243 | -€34,687 | -20.7% |
| Stocks | 30/36 | €167,931 | €133,243 | -€34,687 | -20.7% |
| Amounts receivable within one year | 40/41 | €23,007 | €42,193 | +€19,185 | +83.4% |
| Trade receivables | 40 | €22,548 | €31,798 | +€9,250 | +41.0% |
| Other amounts receivable | 41 | €460 | €10,395 | +€9,935 | +2161.1% |
| Cash at bank and in hand | 54/58 | €23,955 | €11,683 | -€12,272 | -51.2% |
| Deferred charges and accrued income | 490/1 | €5,271 | €4,079 | -€1,192 | -22.6% |
| Total equity and liabilities | 10/49 | €665,879 | €589,684 | -€76,195 | -11.4% |
| Equity | 10/15 | €47,225 | -€52,107 | -€99,333 | |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €5,537 | €5,537 | = | 0.0% |
| Distributable reserves | 133 | €5,537 | €5,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,312 | -€167,644 | -€99,333 | -145.4% |
| Provisions and deferred taxes | 16 | €10,000 | - | -€10,000 | |
| Provisions for liabilities and charges | 160/5 | €10,000 | - | -€10,000 | |
| Major repairs and maintenance | 162 | €10,000 | - | -€10,000 | |
| Amounts payable | 17/49 | €608,654 | €641,792 | +€33,138 | +5.4% |
| Amounts payable after more than one year | 17 | €344,054 | €333,764 | -€10,290 | -3.0% |
| Financial debts | 170/4 | €344,054 | €333,764 | -€10,290 | -3.0% |
| Amounts payable within one year | 42/48 | €262,119 | €307,745 | +€45,626 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €40,575 | €50,290 | +€9,715 | +23.9% |
| Financial debts | 43 | €61,895 | €55,714 | -€6,181 | -10.0% |
| Credit institutions | 430/8 | €61,895 | €55,714 | -€6,181 | -10.0% |
| Trade debts | 44 | €64,230 | €96,956 | +€32,726 | +51.0% |
| Suppliers | 440/4 | €64,230 | €96,956 | +€32,726 | +51.0% |
| Advances received on contracts in progress | 46 | €1,463 | €1,255 | -€208 | -14.2% |
| Taxes, remuneration and social security | 45 | €40,510 | €43,847 | +€3,337 | +8.2% |
| Taxes | 450/3 | €5,844 | €11,950 | +€6,107 | +104.5% |
| Remuneration and social security | 454/9 | €34,667 | €31,897 | -€2,770 | -8.0% |
| Other amounts payable | 47/48 | €53,446 | €59,683 | +€6,238 | +11.7% |
| Accrued charges and deferred income | 492/3 | €2,481 | €283 | -€2,198 | -88.6% |
| Remuneration, social security and pensions | 62 | €235,487 | €233,157 | -€2,330 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,967 | €50,635 | -€3,331 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €333 | -€2,813 | -€3,146 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€10,000 | -€10,000 | |
| Other operating charges | 640/8 | €10,600 | €8,287 | -€2,313 | -21.8% |
| Gross operating margin | 9900 | €225,880 | €196,568 | -€29,313 | -13.0% |
| Operating profit (loss) | 9901 | -€74,505 | -€82,699 | -€8,193 | -11.0% |
| Financial income | 75/76B | €1,128 | €4,571 | +€3,443 | +305.2% |
| Recurring financial income | 75 | €1,128 | €1,571 | +€443 | +39.3% |
| Non-recurring financial income | 76B | - | €3,000 | +€3,000 | |
| Financial charges | 65/66B | €22,750 | €21,065 | -€1,685 | -7.4% |
| Recurring financial charges | 65 | €22,750 | €21,065 | -€1,685 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€96,127 | -€99,192 | -€3,065 | -3.2% |
| Income taxes | 67/77 | €138 | €140 | +€2 | +1.5% |
| Profit (loss) for the period | 9904 | -€96,265 | -€99,333 | -€3,067 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€96,265 | -€99,333 | -€3,067 | -3.2% |
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 7 October 2026 via checked.be.