PROSPECTIVE: 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.
PROSPECTIVE
Largest movements
- Stocks and contracts -€271,829
no longer reported in 2025 (was €271,829)
- Receivables within one year +€101,812
up €101,812 (+397.8%), from €25,593 to €127,405
of which Trade receivables: +€96,038
- Receivables after one year -€60,000
down €60,000 (-8.8%), from €680,000 to €620,000
- Tangible fixed assets -€44,768
down €44,768 (-2.9%), from €1.5m to €1.5m
- Cash -€40,905
down €40,905 (-39.2%), from €104,451 to €63,546
mainly Net result for the year (-€119,033) and Receivables within one year (-€101,812)
- Profit (loss) carried forward -€119,033
down €119,033, from €89,949 to -€29,085
- Debts after one year -€89,074
down €89,074 (-14.9%), from €596,998 to €507,924
- Other debts -€60,000
no longer reported in 2025 (was €60,000)
- Current portion of long-term debt -€42,111
down €42,111 (-22.5%), from €187,014 to €144,902
- Gross operating margin -€200,243
down €200,243, from €143,912 to -€56,331
- Turnover -€163,800
no longer reported in 2025 (was €163,800)
- Purchases and services -€19,887
no longer reported in 2025 (was €19,887)
- Financial charges -€12,348
down €12,348 (-39.2%), from €31,503 to €19,155
- Other operating charges -€4,886
down €4,886 (-29.7%), from €16,442 to €11,555
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 | €2,627,520 | €2,318,190 | -€309,330 | -11.8% |
| Fixed assets | 21/28 | €1,545,256 | €1,500,489 | -€44,768 | -2.9% |
| Tangible fixed assets | 22/27 | €1,545,256 | €1,500,489 | -€44,768 | -2.9% |
| Land and buildings | 22 | €1,545,256 | €1,500,489 | -€44,768 | -2.9% |
| Current assets | 29/58 | €1,082,264 | €817,701 | -€264,563 | -24.4% |
| Amounts receivable after more than one year | 29 | €680,000 | €620,000 | -€60,000 | -8.8% |
| Other amounts receivable | 291 | €680,000 | €620,000 | -€60,000 | -8.8% |
| Stocks and contracts in progress | 3 | €271,829 | - | -€271,829 | |
| Stocks | 30/36 | €271,829 | - | -€271,829 | |
| Amounts receivable within one year | 40/41 | €25,593 | €127,405 | +€101,812 | +397.8% |
| Trade receivables | 40 | €4,993 | €101,030 | +€96,038 | +1923.5% |
| Other amounts receivable | 41 | €20,600 | €26,375 | +€5,775 | +28.0% |
| Cash at bank and in hand | 54/58 | €104,451 | €63,546 | -€40,905 | -39.2% |
| Deferred charges and accrued income | 490/1 | €391 | €6,750 | +€6,359 | +1627.2% |
| Total equity and liabilities | 10/49 | €2,627,520 | €2,318,190 | -€309,330 | -11.8% |
| Equity | 10/15 | €1,377,255 | €1,258,221 | -€119,033 | -8.6% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,212,306 | €1,212,306 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,204,806 | €1,204,806 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,949 | -€29,085 | -€119,033 | |
| Provisions and deferred taxes | 16 | €401,602 | €401,602 | = | 0.0% |
| Deferred taxes | 168 | €401,602 | €401,602 | = | 0.0% |
| Amounts payable | 17/49 | €848,664 | €658,367 | -€190,297 | -22.4% |
| Amounts payable after more than one year | 17 | €596,998 | €507,924 | -€89,074 | -14.9% |
| Financial debts | 170/4 | €596,998 | €507,924 | -€89,074 | -14.9% |
| Amounts payable within one year | 42/48 | €251,666 | €148,891 | -€102,775 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €187,014 | €144,902 | -€42,111 | -22.5% |
| Trade debts | 44 | €4,652 | €3,988 | -€664 | -14.3% |
| Suppliers | 440/4 | €4,652 | €3,988 | -€664 | -14.3% |
| Other amounts payable | 47/48 | €60,000 | - | -€60,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,552 | +€1,552 | |
| Turnover | 70 | €163,800 | - | -€163,800 | |
| Goods, raw materials, services and sundry goods | 60/61 | €19,887 | - | -€19,887 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,768 | €44,768 | = | 0.0% |
| Other operating charges | 640/8 | €16,442 | €11,555 | -€4,886 | -29.7% |
| Gross operating margin | 9900 | €143,912 | -€56,331 | -€200,243 | |
| Operating profit (loss) | 9901 | €82,703 | -€112,654 | -€195,357 | |
| Financial income | 75/76B | €13,600 | €12,775 | -€825 | -6.1% |
| Recurring financial income | 75 | €13,600 | €12,775 | -€825 | -6.1% |
| Financial charges | 65/66B | €31,503 | €19,155 | -€12,348 | -39.2% |
| Recurring financial charges | 65 | €31,503 | €19,155 | -€12,348 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €64,800 | -€119,033 | -€183,833 | |
| Profit (loss) for the period | 9904 | €64,800 | -€119,033 | -€183,833 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,800 | -€119,033 | -€183,833 |
Source: filed annual accounts (NBB), fiscal 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 September 2026 via checked.be.