PRO - GESTION - PROJECTION: 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.
PRO - GESTION - PROJECTION
Largest movements
- Financial fixed assets +€203,000
up €203,000 (+16.9%), from €1.2m to €1.4m
- Receivables within one year -€70,076
down €70,076 (-30.7%), from €228,231 to €158,155
of which Trade receivables: -€69,027
- Short-term financial debts +€300,000
new in 2025: €300,000
- Trade debts -€129,935
down €129,935 (-20.6%), from €631,974 to €502,039
- Other debts -€61,667
down €61,667 (-7.1%), from €873,620 to €811,953
- Debts after one year -€27,033
down €27,033 (-62.5%), from €43,281 to €16,248
of which Financial debts: -€27,033
- Gross operating margin +€10,319
up €10,319 (+12.4%), from €83,207 to €93,526
- Taxes +€7,070
up €7,070 (+92.6%), from €7,632 to €14,703
- Financial income +€6,719
up €6,719 (+299%), from €2,248 to €8,966
- Financial charges +€3,900
up €3,900 (+108%), from €3,628 to €7,528
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 | €2,320,651 | €2,420,232 | +€99,581 | +4.3% |
| Fixed assets | 21/28 | €1,762,356 | €1,928,721 | +€166,365 | +9.4% |
| Intangible fixed assets | 21 | €39,132 | €19,566 | -€19,566 | -50.0% |
| Tangible fixed assets | 22/27 | €518,874 | €501,805 | -€17,069 | -3.3% |
| Land and buildings | 22 | €516,014 | €501,805 | -€14,209 | -2.8% |
| Other tangible fixed assets | 26 | €2,860 | - | -€2,860 | |
| Financial fixed assets | 28 | €1,204,350 | €1,407,350 | +€203,000 | +16.9% |
| Current assets | 29/58 | €558,295 | €491,511 | -€66,784 | -12.0% |
| Amounts receivable within one year | 40/41 | €228,231 | €158,155 | -€70,076 | -30.7% |
| Trade receivables | 40 | €210,961 | €141,934 | -€69,027 | -32.7% |
| Other amounts receivable | 41 | €17,269 | €16,221 | -€1,049 | -6.1% |
| Cash at bank and in hand | 54/58 | €330,064 | €333,357 | +€3,292 | +1.0% |
| Total equity and liabilities | 10/49 | €2,320,651 | €2,420,232 | +€99,581 | +4.3% |
| Equity | 10/15 | €742,029 | €756,724 | +€14,695 | +2.0% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €584,902 | €599,597 | +€14,695 | +2.5% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Distributable reserves | 133 | €570,028 | €584,723 | +€14,695 | +2.6% |
| Profit (loss) carried forward | 14 | €87,127 | €87,127 | = | 0.0% |
| Amounts payable | 17/49 | €1,578,622 | €1,663,508 | +€84,886 | +5.4% |
| Amounts payable after more than one year | 17 | €43,281 | €16,248 | -€27,033 | -62.5% |
| Financial debts | 170/4 | €40,802 | €13,769 | -€27,033 | -66.3% |
| Other amounts payable | 178/9 | €2,479 | €2,479 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,535,341 | €1,647,260 | +€111,919 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €26,374 | €27,033 | +€660 | +2.5% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €631,974 | €502,039 | -€129,935 | -20.6% |
| Suppliers | 440/4 | €631,974 | €502,039 | -€129,935 | -20.6% |
| Taxes, remuneration and social security | 45 | €3,373 | €6,235 | +€2,861 | +84.8% |
| Taxes | 450/3 | €3,373 | €6,235 | +€2,861 | +84.8% |
| Other amounts payable | 47/48 | €873,620 | €811,953 | -€61,667 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,635 | €36,635 | = | 0.0% |
| Other operating charges | 640/8 | €3,826 | €3,931 | +€106 | +2.8% |
| Gross operating margin | 9900 | €83,207 | €93,526 | +€10,319 | +12.4% |
| Operating profit (loss) | 9901 | €42,746 | €52,959 | +€10,214 | +23.9% |
| Financial income | 75/76B | €2,248 | €8,966 | +€6,719 | +299% |
| Recurring financial income | 75 | €2,248 | €8,966 | +€6,719 | +299% |
| Financial charges | 65/66B | €3,628 | €7,528 | +€3,900 | +108% |
| Recurring financial charges | 65 | €3,628 | €7,528 | +€3,900 | +108% |
| Profit (loss) for the period before taxes | 9903 | €41,365 | €54,398 | +€13,032 | +31.5% |
| Income taxes | 67/77 | €7,632 | €14,703 | +€7,070 | +92.6% |
| Profit (loss) for the period | 9904 | €33,733 | €39,695 | +€5,962 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,733 | €39,695 | +€5,962 | +17.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.