Raw Cut: 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.
Raw Cut
Largest movements
- Cash -€16,286
down €16,286 (-47.5%), from €34,301 to €18,015
mainly Tax, wage and social debts (-€25,556) and Investment in fixed assets (net) (-€16,053)
- Receivables within one year -€13,786
down €13,786 (-9.5%), from €145,316 to €131,529
of which Trade receivables: -€21,922
- Tangible fixed assets +€6,939
up €6,939 (+38.6%), from €17,982 to €24,921
of which Furniture and vehicles: +€8,314
- Tax, wage and social debts -€25,556
down €25,556 (-92.7%), from €27,581 to €2,025
of which Taxes: -€18,318
- Reserves +€14,000
up €14,000 (+12.7%), from €110,000 to €124,000
- Trade debts -€4,877
down €4,877 (-16.7%), from €29,177 to €24,300
- Other debts -€4,630
down €4,630 (-47.3%), from €9,785 to €5,154
- Current portion of long-term debt -€2,044
down €2,044 (-91.7%), from €2,228 to €184
- Gross operating margin -€48,060
down €48,060 (-61.9%), from €77,681 to €29,622
- Taxes -€9,741
down €9,741 (-66.6%), from €14,618 to €4,877
- Depreciation -€4,667
down €4,667 (-34.4%), from €13,581 to €8,914
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 | €199,179 | €177,708 | -€21,471 | -10.8% |
| Fixed assets | 21/28 | €17,982 | €25,121 | +€7,139 | +39.7% |
| Tangible fixed assets | 22/27 | €17,982 | €24,921 | +€6,939 | +38.6% |
| Furniture and vehicles | 24 | €9,135 | €17,449 | +€8,314 | +91.0% |
| Leasing and similar rights | 25 | €504 | €0 | -€504 | -100.0% |
| Other tangible fixed assets | 26 | €8,343 | €7,472 | -€871 | -10.4% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €181,197 | €152,587 | -€28,610 | -15.8% |
| Amounts receivable within one year | 40/41 | €145,316 | €131,529 | -€13,786 | -9.5% |
| Trade receivables | 40 | €143,060 | €121,138 | -€21,922 | -15.3% |
| Other amounts receivable | 41 | €2,256 | €10,392 | +€8,136 | +360.6% |
| Cash at bank and in hand | 54/58 | €34,301 | €18,015 | -€16,286 | -47.5% |
| Deferred charges and accrued income | 490/1 | €1,581 | €3,042 | +€1,462 | +92.5% |
| Total equity and liabilities | 10/49 | €199,179 | €177,708 | -€21,471 | -10.8% |
| Equity | 10/15 | €128,801 | €143,327 | +€14,526 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €110,000 | €124,000 | +€14,000 | +12.7% |
| Distributable reserves | 133 | €110,000 | €124,000 | +€14,000 | +12.7% |
| Profit (loss) carried forward | 14 | €201 | €727 | +€526 | +261.6% |
| Amounts payable | 17/49 | €70,378 | €34,380 | -€35,997 | -51.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €68,771 | €32,773 | -€35,998 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €2,228 | €184 | -€2,044 | -91.7% |
| Financial debts | 43 | €0 | €1,109 | +€1,109 | |
| Credit institutions | 430/8 | €0 | €1,109 | +€1,109 | |
| Trade debts | 44 | €29,177 | €24,300 | -€4,877 | -16.7% |
| Suppliers | 440/4 | €29,177 | €24,300 | -€4,877 | -16.7% |
| Taxes, remuneration and social security | 45 | €27,581 | €2,025 | -€25,556 | -92.7% |
| Taxes | 450/3 | €20,343 | €2,025 | -€18,318 | -90.0% |
| Remuneration and social security | 454/9 | €7,237 | €0 | -€7,237 | -100.0% |
| Other amounts payable | 47/48 | €9,785 | €5,154 | -€4,630 | -47.3% |
| Accrued charges and deferred income | 492/3 | €1,607 | €1,607 | +€1 | 0.0% |
| Non-recurring operating income | 76A | €0 | €1,329 | +€1,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,581 | €8,914 | -€4,667 | -34.4% |
| Other operating charges | 640/8 | €405 | €417 | +€12 | +3.0% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -100.0% |
| Gross operating margin | 9900 | €77,681 | €29,622 | -€48,060 | -61.9% |
| Operating profit (loss) | 9901 | €63,696 | €20,291 | -€43,404 | -68.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,328 | €888 | -€440 | -33.1% |
| Recurring financial charges | 65 | €1,328 | €888 | -€440 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €62,368 | €19,403 | -€42,965 | -68.9% |
| Income taxes | 67/77 | €14,618 | €4,877 | -€9,741 | -66.6% |
| Profit (loss) for the period | 9904 | €47,750 | €14,526 | -€33,224 | -69.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,750 | €14,526 | -€33,224 | -69.6% |
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 11 October 2026 via checked.be.