REAL FUNDS DEVELOPMENTS: 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.
REAL FUNDS DEVELOPMENTS
Largest movements
- Financial fixed assets -€216,479
down €216,479 (-36.3%), from €595,770 to €379,292
- Current investments +€100,000
up €100,000 (+3.4%), from €3.0m to €3.1m
- Other debts -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Profit (loss) carried forward +€44,224
up €44,224 (+1.4%), from €3.2m to €3.2m
- Financial income -€19,589
down €19,589 (-18.9%), from €103,380 to €83,791
- Gross operating margin -€3,826
down €3,826 (-21.3%), from -€17,951 to -€21,777
- Taxes +€522
up €522 (+3.5%), from €14,788 to €15,310
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 | €3,763,932 | €3,625,516 | -€138,415 | -3.7% |
| Fixed assets | 21/28 | €595,770 | €379,292 | -€216,479 | -36.3% |
| Financial fixed assets | 28 | €595,770 | €379,292 | -€216,479 | -36.3% |
| Current assets | 29/58 | €3,168,161 | €3,246,225 | +€78,063 | +2.5% |
| Amounts receivable within one year | 40/41 | €980 | €14,712 | +€13,732 | +1401.4% |
| Trade receivables | 40 | €464 | €22 | -€442 | -95.2% |
| Other amounts receivable | 41 | €516 | €14,690 | +€14,174 | +2746.9% |
| Current investments | 50/53 | €2,950,000 | €3,050,000 | +€100,000 | +3.4% |
| Cash at bank and in hand | 54/58 | €207,809 | €177,638 | -€30,171 | -14.5% |
| Deferred charges and accrued income | 490/1 | €9,373 | €3,874 | -€5,498 | -58.7% |
| Total equity and liabilities | 10/49 | €3,763,932 | €3,625,516 | -€138,415 | -3.7% |
| Equity | 10/15 | €3,579,325 | €3,623,548 | +€44,224 | +1.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €346,776 | €346,776 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,667 | €18,667 | = | 0.0% |
| Distributable reserves | 133 | €321,908 | €321,908 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,170,549 | €3,214,773 | +€44,224 | +1.4% |
| Amounts payable | 17/49 | €184,607 | €1,968 | -€182,639 | -98.9% |
| Amounts payable within one year | 42/48 | €164,722 | €1,650 | -€163,072 | -99.0% |
| Trade debts | 44 | €1,348 | €1,650 | +€302 | +22.4% |
| Suppliers | 440/4 | €1,348 | €1,650 | +€302 | +22.4% |
| Taxes, remuneration and social security | 45 | €13,374 | €0 | -€13,374 | -100.0% |
| Taxes | 450/3 | €13,374 | €0 | -€13,374 | -100.0% |
| Other amounts payable | 47/48 | €150,000 | €0 | -€150,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €19,885 | €318 | -€19,567 | -98.4% |
| Other operating charges | 640/8 | €1,118 | €1,053 | -€65 | -5.8% |
| Non-recurring operating charges | 66A | - | €476 | +€476 | |
| Gross operating margin | 9900 | -€17,951 | -€21,777 | -€3,826 | -21.3% |
| Operating profit (loss) | 9901 | -€19,068 | -€23,306 | -€4,237 | -22.2% |
| Financial income | 75/76B | €103,380 | €83,791 | -€19,589 | -18.9% |
| Recurring financial income | 75 | €103,380 | €83,791 | -€19,589 | -18.9% |
| Financial charges | 65/66B | €915 | €952 | +€37 | +4.0% |
| Recurring financial charges | 65 | €915 | €952 | +€37 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €83,397 | €59,534 | -€23,863 | -28.6% |
| Income taxes | 67/77 | €14,788 | €15,310 | +€522 | +3.5% |
| Profit (loss) for the period | 9904 | €68,609 | €44,224 | -€24,385 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,609 | €44,224 | -€24,385 | -35.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.