Principe 41: 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.
Principe 41
Largest movements
- Receivables within one year -€61,297
down €61,297 (-77.0%), from €79,656 to €18,359
of which Trade receivables: -€38,892
- Cash -€20,210
down €20,210 (-46.0%), from €43,979 to €23,769
mainly Other debts (-€82,189) and Trade debts (-€21,690)
- Other debts -€82,189
down €82,189 (-100%), from €82,189 to €0
- Trade debts -€21,690
down €21,690 (-66.4%), from €32,660 to €10,969
- Profit (loss) carried forward +€12,392
up €12,392 (+363%), from €3,412 to €15,803
- Tax, wage and social debts +€8,420
up €8,420 (+5,389%), from €156 to €8,576
of which Taxes: +€8,420
- Short-term financial debts +€1,457
up €1,457 (+77.1%), from €1,889 to €3,347
- Gross operating margin -€24,477
down €24,477 (-58.8%), from €41,654 to €17,176
- Taxes +€713
up €713 (+17.2%), from €4,156 to €4,869
- Financial income -€469
down €469 (-39.9%), from €1,176 to €706
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 | €123,806 | €42,196 | -€81,610 | -65.9% |
| Current assets | 29/58 | €123,806 | €42,196 | -€81,610 | -65.9% |
| Amounts receivable within one year | 40/41 | €79,656 | €18,359 | -€61,297 | -77.0% |
| Trade receivables | 40 | €49,192 | €10,300 | -€38,892 | -79.1% |
| Other amounts receivable | 41 | €30,465 | €8,059 | -€22,405 | -73.5% |
| Cash at bank and in hand | 54/58 | €43,979 | €23,769 | -€20,210 | -46.0% |
| Deferred charges and accrued income | 490/1 | €170 | €67 | -€103 | -60.7% |
| Total equity and liabilities | 10/49 | €123,806 | €42,196 | -€81,610 | -65.9% |
| Equity | 10/15 | €6,912 | €19,303 | +€12,392 | +179% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,412 | €15,803 | +€12,392 | +363% |
| Amounts payable | 17/49 | €116,894 | €22,892 | -€94,002 | -80.4% |
| Amounts payable within one year | 42/48 | €116,894 | €22,892 | -€94,002 | -80.4% |
| Financial debts | 43 | €1,889 | €3,347 | +€1,457 | +77.1% |
| Credit institutions | 430/8 | €1,889 | €3,347 | +€1,457 | +77.1% |
| Trade debts | 44 | €32,660 | €10,969 | -€21,690 | -66.4% |
| Suppliers | 440/4 | €32,660 | €10,969 | -€21,690 | -66.4% |
| Taxes, remuneration and social security | 45 | €156 | €8,576 | +€8,420 | +5,389% |
| Taxes | 450/3 | €156 | €8,576 | +€8,420 | +5,389% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €82,189 | €0 | -€82,189 | -100% |
| Other operating charges | 640/8 | €502 | €507 | +€5 | +1.0% |
| Gross operating margin | 9900 | €41,654 | €17,176 | -€24,477 | -58.8% |
| Operating profit (loss) | 9901 | €41,151 | €16,669 | -€24,482 | -59.5% |
| Financial income | 75/76B | €1,176 | €706 | -€469 | -39.9% |
| Recurring financial income | 75 | €1,176 | €706 | -€469 | -39.9% |
| Financial charges | 65/66B | €167 | €114 | -€53 | -31.7% |
| Recurring financial charges | 65 | €167 | €114 | -€53 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €42,160 | €17,261 | -€24,899 | -59.1% |
| Income taxes | 67/77 | €4,156 | €4,869 | +€713 | +17.2% |
| Profit (loss) for the period | 9904 | €38,004 | €12,392 | -€25,612 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,004 | €12,392 | -€25,612 | -67.4% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.