PROPOSITUM: 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.
PROPOSITUM
Largest movements
- Current investments +€83,008
new in 2025: €83,008
- Tangible fixed assets -€60,224
down €60,224 (-5.1%), from €1.2m to €1.1m
of which Furniture and vehicles: -€33,005
- Cash -€13,101
down €13,101 (-60.0%), from €21,833 to €8,732
mainly Current investments (-€83,008) and Debts after one year (-€16,121)
- Debts after one year -€16,121
down €16,121 (-2.8%), from €576,493 to €560,372
of which Other amounts payable: -€576,493
- Current portion of long-term debt +€16,035
new in 2025: €16,035
- Short-term financial debts -€15,651
no longer reported in 2025 (was €15,651)
- Gross operating margin +€62,731
up €62,731 (+445.1%), from €14,095 to €76,826
- Depreciation +€8,461
up €8,461 (+18.9%), from €44,793 to €53,253
- Financial charges +€1,386
up €1,386 (+16.7%), from €8,277 to €9,664
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 | €1,226,010 | €1,225,368 | -€641 | -0.1% |
| Fixed assets | 21/28 | €1,186,642 | €1,126,418 | -€60,224 | -5.1% |
| Tangible fixed assets | 22/27 | €1,186,642 | €1,126,418 | -€60,224 | -5.1% |
| Land and buildings | 22 | €1,071,640 | €1,040,771 | -€30,869 | -2.9% |
| Plant, machinery and equipment | 23 | €32 | €4,154 | +€4,122 | +13082.0% |
| Furniture and vehicles | 24 | €113,682 | €80,677 | -€33,005 | -29.0% |
| Other tangible fixed assets | 26 | €1,289 | €817 | -€472 | -36.6% |
| Current assets | 29/58 | €39,367 | €98,950 | +€59,583 | +151.4% |
| Stocks and contracts in progress | 3 | €6,393 | €6,129 | -€264 | -4.1% |
| Stocks | 30/36 | €6,393 | €6,129 | -€264 | -4.1% |
| Amounts receivable within one year | 40/41 | €7,990 | €1,082 | -€6,908 | -86.5% |
| Trade receivables | 40 | €3,969 | €958 | -€3,011 | -75.9% |
| Other amounts receivable | 41 | €4,021 | €124 | -€3,897 | -96.9% |
| Current investments | 50/53 | - | €83,008 | +€83,008 | |
| Cash at bank and in hand | 54/58 | €21,833 | €8,732 | -€13,101 | -60.0% |
| Deferred charges and accrued income | 490/1 | €3,151 | - | -€3,151 | |
| Total equity and liabilities | 10/49 | €1,226,010 | €1,225,368 | -€641 | -0.1% |
| Equity | 10/15 | €600,258 | €607,545 | +€7,287 | +1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €720,664 | €720,664 | = | 0.0% |
| Distributable reserves | 133 | €720,664 | €720,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€126,606 | -€119,319 | +€7,287 | +5.8% |
| Amounts payable | 17/49 | €625,752 | €617,823 | -€7,928 | -1.3% |
| Amounts payable after more than one year | 17 | €576,493 | €560,372 | -€16,121 | -2.8% |
| Financial debts | 170/4 | - | €560,372 | +€560,372 | |
| Other amounts payable | 178/9 | €576,493 | - | -€576,493 | |
| Amounts payable within one year | 42/48 | €32,529 | €50,481 | +€17,951 | +55.2% |
| Current portion of amounts payable after more than one year | 42 | - | €16,035 | +€16,035 | |
| Financial debts | 43 | €15,651 | - | -€15,651 | |
| Credit institutions | 430/8 | €15,651 | - | -€15,651 | |
| Trade debts | 44 | €3,547 | €3,312 | -€235 | -6.6% |
| Suppliers | 440/4 | €3,547 | €3,312 | -€235 | -6.6% |
| Taxes, remuneration and social security | 45 | €291 | €7,752 | +€7,461 | +2563.5% |
| Taxes | 450/3 | €291 | €7,752 | +€7,461 | +2563.5% |
| Other amounts payable | 47/48 | €13,040 | €23,382 | +€10,342 | +79.3% |
| Accrued charges and deferred income | 492/3 | €16,729 | €6,971 | -€9,759 | -58.3% |
| Non-recurring operating income | 76A | - | €6,529 | +€6,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,793 | €53,253 | +€8,461 | +18.9% |
| Other operating charges | 640/8 | €6,425 | €6,466 | +€41 | +0.6% |
| Non-recurring operating charges | 66A | €7,080 | - | -€7,080 | |
| Gross operating margin | 9900 | €14,095 | €76,826 | +€62,731 | +445.1% |
| Operating profit (loss) | 9901 | -€44,204 | €17,106 | +€61,310 | |
| Financial income | 75/76B | €370 | €275 | -€96 | -25.8% |
| Recurring financial income | 75 | €370 | €275 | -€96 | -25.8% |
| Financial charges | 65/66B | €8,277 | €9,664 | +€1,386 | +16.7% |
| Recurring financial charges | 65 | €8,277 | €9,664 | +€1,386 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | -€52,111 | €7,717 | +€59,828 | |
| Income taxes | 67/77 | €291 | €430 | +€139 | +47.8% |
| Profit (loss) for the period | 9904 | -€52,402 | €7,287 | +€59,689 | |
| Profit (loss) for the period to be appropriated | 9905 | -€52,402 | €7,287 | +€59,689 |
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 11 October 2026 via checked.be.