Pro-Letter: 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-Letter
Largest movements
- Tangible fixed assets +€15,884
up €15,884 (+13.6%), from €116,732 to €132,616
of which Furniture and vehicles: +€27,976
- Receivables within one year -€4,104
down €4,104 (-25.1%), from €16,372 to €12,269
- Cash -€3,050
down €3,050 (-3.5%), from €87,347 to €84,297
mainly Investment in fixed assets (net) (-€42,106) and Current portion of long-term debt (-€2,047)
- Reserves +€6,617
up €6,617 (+6.1%), from €107,818 to €114,434
- Gross operating margin +€12,377
up €12,377 (+34.2%), from €36,228 to €48,604
- Taxes +€3,766
up €3,766 (+288%), from €1,310 to €5,076
- Other operating charges +€3,016
up €3,016 (+72.8%), from €4,145 to €7,161
- Financial charges -€799
down €799 (-24.8%), from €3,215 to €2,416
- Depreciation -€520
down €520 (-1.9%), from €26,743 to €26,223
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 | €223,416 | €231,582 | +€8,165 | +3.7% |
| Fixed assets | 21/28 | €116,732 | €132,616 | +€15,884 | +13.6% |
| Tangible fixed assets | 22/27 | €116,732 | €132,616 | +€15,884 | +13.6% |
| Land and buildings | 22 | €58,810 | €51,526 | -€7,284 | -12.4% |
| Plant, machinery and equipment | 23 | €5,084 | €276 | -€4,808 | -94.6% |
| Furniture and vehicles | 24 | €52,838 | €80,814 | +€27,976 | +52.9% |
| Current assets | 29/58 | €106,685 | €98,966 | -€7,719 | -7.2% |
| Stocks and contracts in progress | 3 | €2,150 | €2,346 | +€196 | +9.1% |
| Stocks | 30/36 | €2,150 | €2,346 | +€196 | +9.1% |
| Amounts receivable within one year | 40/41 | €16,372 | €12,269 | -€4,104 | -25.1% |
| Trade receivables | 40 | €16,372 | €12,269 | -€4,104 | -25.1% |
| Cash at bank and in hand | 54/58 | €87,347 | €84,297 | -€3,050 | -3.5% |
| Deferred charges and accrued income | 490/1 | €815 | €55 | -€760 | -93.3% |
| Total equity and liabilities | 10/49 | €223,416 | €231,582 | +€8,165 | +3.7% |
| Equity | 10/15 | €124,676 | €131,293 | +€6,617 | +5.3% |
| Contributions | 10/11 | €16,859 | €16,859 | = | 0.0% |
| Reserves | 13 | €107,818 | €114,434 | +€6,617 | +6.1% |
| Distributable reserves | 133 | €107,818 | €114,434 | +€6,617 | +6.1% |
| Amounts payable | 17/49 | €98,740 | €100,289 | +€1,549 | +1.6% |
| Amounts payable after more than one year | 17 | €50,886 | €51,627 | +€742 | +1.5% |
| Financial debts | 170/4 | €50,886 | €51,627 | +€742 | +1.5% |
| Amounts payable within one year | 42/48 | €47,854 | €48,661 | +€807 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €21,306 | €19,259 | -€2,047 | -9.6% |
| Trade debts | 44 | €9,700 | €10,423 | +€722 | +7.4% |
| Suppliers | 440/4 | €9,700 | €10,423 | +€722 | +7.4% |
| Advances received on contracts in progress | 46 | - | €73 | +€73 | |
| Taxes, remuneration and social security | 45 | €9,700 | €10,030 | +€330 | +3.4% |
| Taxes | 450/3 | €9,700 | €10,030 | +€330 | +3.4% |
| Other amounts payable | 47/48 | €7,148 | €8,878 | +€1,729 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,743 | €26,223 | -€520 | -1.9% |
| Other operating charges | 640/8 | €4,145 | €7,161 | +€3,016 | +72.8% |
| Gross operating margin | 9900 | €36,228 | €48,604 | +€12,377 | +34.2% |
| Operating profit (loss) | 9901 | €5,340 | €15,221 | +€9,881 | +185% |
| Financial income | 75/76B | €412 | €554 | +€141 | +34.3% |
| Recurring financial income | 75 | €412 | €554 | +€141 | +34.3% |
| Financial charges | 65/66B | €3,215 | €2,416 | -€799 | -24.8% |
| Recurring financial charges | 65 | €3,215 | €2,416 | -€799 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €2,537 | €13,359 | +€10,821 | +426% |
| Income taxes | 67/77 | €1,310 | €5,076 | +€3,766 | +288% |
| Profit (loss) for the period | 9904 | €1,227 | €8,283 | +€7,055 | +575% |
| Profit (loss) for the period to be appropriated | 9905 | €1,227 | €8,283 | +€7,055 | +575% |
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 17 October 2026 via checked.be.