QUE PASA ?: 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.
QUE PASA ?
Largest movements
- Cash +€224,518
up €224,518 (+14.6%), from €1.5m to €1.8m
mainly Net result for the year (+€282,280) and Depreciation (+€82,916)
- Tangible fixed assets -€59,459
down €59,459 (-10.2%), from €584,805 to €525,346
of which Land and buildings: -€32,948
- Reserves +€282,280
up €282,280 (+13.4%), from €2.1m to €2.4m
of which Distributable reserves: +€282,280
- Other debts -€75,311
down €75,311 (-90.4%), from €83,296 to €7,985
- Tax, wage and social debts -€42,442
down €42,442 (-99.0%), from €42,871 to €430
- Gross operating margin -€88,989
down €88,989 (-15.0%), from €591,860 to €502,871
- Taxes -€25,450
down €25,450 (-14.9%), from €170,434 to €144,984
- Financial income +€6,113
up €6,113 (+71.5%), from €8,553 to €14,666
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 | €2,271,172 | €2,444,862 | +€173,690 | +7.6% |
| Fixed assets | 21/28 | €597,279 | €539,320 | -€57,959 | -9.7% |
| Tangible fixed assets | 22/27 | €584,805 | €525,346 | -€59,459 | -10.2% |
| Land and buildings | 22 | €470,113 | €437,165 | -€32,948 | -7.0% |
| Furniture and vehicles | 24 | €114,692 | €88,181 | -€26,511 | -23.1% |
| Financial fixed assets | 28 | €12,474 | €13,974 | +€1,500 | +12.0% |
| Current assets | 29/58 | €1,673,893 | €1,905,542 | +€231,649 | +13.8% |
| Amounts receivable within one year | 40/41 | €135,342 | €142,239 | +€6,896 | +5.1% |
| Trade receivables | 40 | €131,900 | €131,900 | = | 0.0% |
| Other amounts receivable | 41 | €3,442 | €10,339 | +€6,896 | +200.3% |
| Cash at bank and in hand | 54/58 | €1,535,023 | €1,759,541 | +€224,518 | +14.6% |
| Deferred charges and accrued income | 490/1 | €3,527 | €3,762 | +€235 | +6.7% |
| Total equity and liabilities | 10/49 | €2,271,172 | €2,444,862 | +€173,690 | +7.6% |
| Equity | 10/15 | €2,129,203 | €2,411,483 | +€282,280 | +13.3% |
| Contributions | 10/11 | €21,667 | €21,667 | = | 0.0% |
| Reserves | 13 | €2,107,536 | €2,389,816 | +€282,280 | +13.4% |
| Tax-exempt reserves | 132 | €20,230 | €20,230 | = | 0.0% |
| Distributable reserves | 133 | €2,087,306 | €2,369,586 | +€282,280 | +13.5% |
| Amounts payable | 17/49 | €141,969 | €33,380 | -€108,590 | -76.5% |
| Amounts payable within one year | 42/48 | €141,546 | €33,042 | -€108,504 | -76.7% |
| Financial debts | 43 | €600 | - | -€600 | |
| Other loans | 439 | €600 | - | -€600 | |
| Trade debts | 44 | €14,778 | €24,628 | +€9,849 | +66.6% |
| Suppliers | 440/4 | €14,778 | €24,628 | +€9,849 | +66.6% |
| Taxes, remuneration and social security | 45 | €42,871 | €430 | -€42,442 | -99.0% |
| Taxes | 450/3 | €42,871 | €430 | -€42,442 | -99.0% |
| Other amounts payable | 47/48 | €83,296 | €7,985 | -€75,311 | -90.4% |
| Accrued charges and deferred income | 492/3 | €423 | €337 | -€86 | -20.4% |
| Non-recurring operating income | 76A | €460 | - | -€460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,093 | €82,916 | +€5,823 | +7.6% |
| Other operating charges | 640/8 | €5,035 | €5,135 | +€100 | +2.0% |
| Gross operating margin | 9900 | €591,860 | €502,871 | -€88,989 | -15.0% |
| Operating profit (loss) | 9901 | €509,732 | €414,820 | -€94,912 | -18.6% |
| Financial income | 75/76B | €8,553 | €14,666 | +€6,113 | +71.5% |
| Recurring financial income | 75 | €8,553 | €14,666 | +€6,113 | +71.5% |
| Financial charges | 65/66B | €224 | €2,222 | +€1,999 | +893.4% |
| Recurring financial charges | 65 | €224 | €394 | +€171 | +76.2% |
| Non-recurring financial charges | 66B | - | €1,828 | +€1,828 | |
| Profit (loss) for the period before taxes | 9903 | €518,061 | €427,264 | -€90,797 | -17.5% |
| Income taxes | 67/77 | €170,434 | €144,984 | -€25,450 | -14.9% |
| Profit (loss) for the period | 9904 | €347,627 | €282,280 | -€65,347 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €347,627 | €282,280 | -€65,347 | -18.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.