R & S: 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.
R & S
Largest movements
- Stocks and contracts -€42,472
down €42,472 (-24.3%), from €175,067 to €132,595
- Receivables within one year +€17,211
up €17,211 (+80.8%), from €21,290 to €38,500
of which Trade receivables: +€17,320
- Cash -€6,150
down €6,150 (-67.7%), from €9,082 to €2,931
mainly Net result for the year (-€19,535) and Receivables within one year (-€17,211)
- Profit (loss) carried forward -€19,535
down €19,535 (-33.6%), from -€58,106 to -€77,641
- Trade debts -€13,787
down €13,787 (-30.1%), from €45,733 to €31,946
- Other debts +€3,572
up €3,572 (+2.9%), from €122,628 to €126,200
- Current portion of long-term debt -€3,253
down €3,253 (-83.0%), from €3,917 to €664
- Staff costs -€7,465
down €7,465 (-13.0%), from €57,619 to €50,154
- Gross operating margin +€1,817
up €1,817 (+5.1%), from €35,717 to €37,534
- Other operating charges -€1,571
down €1,571 (-67.6%), from €2,325 to €754
- Depreciation -€707
down €707 (-60.6%), from €1,166 to €459
- Financial charges -€649
down €649 (-9.5%), from €6,816 to €6,166
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 | €206,197 | €174,327 | -€31,871 | -15.5% |
| Fixed assets | 21/28 | €759 | €300 | -€459 | -60.5% |
| Intangible fixed assets | 21 | €600 | €300 | -€300 | -50.0% |
| Tangible fixed assets | 22/27 | €159 | €0 | -€159 | -100% |
| Furniture and vehicles | 24 | €159 | €0 | -€159 | -100% |
| Current assets | 29/58 | €205,438 | €174,027 | -€31,412 | -15.3% |
| Stocks and contracts in progress | 3 | €175,067 | €132,595 | -€42,472 | -24.3% |
| Stocks | 30/36 | €175,067 | €132,595 | -€42,472 | -24.3% |
| Amounts receivable within one year | 40/41 | €21,290 | €38,500 | +€17,211 | +80.8% |
| Trade receivables | 40 | €21,180 | €38,500 | +€17,320 | +81.8% |
| Other amounts receivable | 41 | €110 | €0 | -€110 | -100% |
| Cash at bank and in hand | 54/58 | €9,082 | €2,931 | -€6,150 | -67.7% |
| Total equity and liabilities | 10/49 | €206,197 | €174,327 | -€31,871 | -15.5% |
| Equity | 10/15 | -€36,106 | -€55,641 | -€19,535 | -54.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,106 | -€77,641 | -€19,535 | -33.6% |
| Amounts payable | 17/49 | €242,303 | €229,967 | -€12,336 | -5.1% |
| Amounts payable after more than one year | 17 | €664 | €0 | -€664 | -100% |
| Financial debts | 170/4 | €664 | €0 | -€664 | -100% |
| Amounts payable within one year | 42/48 | €241,639 | €229,967 | -€11,672 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €3,917 | €664 | -€3,253 | -83.0% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Other loans | 439 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €45,733 | €31,946 | -€13,787 | -30.1% |
| Suppliers | 440/4 | €45,733 | €31,946 | -€13,787 | -30.1% |
| Taxes, remuneration and social security | 45 | €19,361 | €21,157 | +€1,797 | +9.3% |
| Taxes | 450/3 | €2,045 | €2,430 | +€385 | +18.8% |
| Remuneration and social security | 454/9 | €17,315 | €18,727 | +€1,412 | +8.2% |
| Other amounts payable | 47/48 | €122,628 | €126,200 | +€3,572 | +2.9% |
| Remuneration, social security and pensions | 62 | €57,619 | €50,154 | -€7,465 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,166 | €459 | -€707 | -60.6% |
| Other operating charges | 640/8 | €2,325 | €754 | -€1,571 | -67.6% |
| Gross operating margin | 9900 | €35,717 | €37,534 | +€1,817 | +5.1% |
| Operating profit (loss) | 9901 | -€25,393 | -€13,833 | +€11,560 | +45.5% |
| Financial income | 75/76B | €109 | €465 | +€356 | +327% |
| Recurring financial income | 75 | €109 | €465 | +€356 | +327% |
| Financial charges | 65/66B | €6,816 | €6,166 | -€649 | -9.5% |
| Recurring financial charges | 65 | €6,816 | €6,166 | -€649 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€32,100 | -€19,535 | +€12,566 | +39.1% |
| Profit (loss) for the period | 9904 | -€32,100 | -€19,535 | +€12,566 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,100 | -€19,535 | +€12,566 | +39.1% |
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 13 October 2026 via checked.be.