RISK RETURN: 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.
RISK RETURN
Largest movements
- Cash -€24,810
down €24,810 (-21.3%), from €116,610 to €91,800
mainly Contributions, distributions and other (-€105,590) and Receivables within one year (-€18,836)
- Receivables within one year +€18,836
up €18,836 (+838.1%), from €2,247 to €21,083
of which Other amounts receivable: +€16,119
- Deferred charges and accrued income +€6,230
up €6,230 (+98.3%), from €6,336 to €12,566
- Tangible fixed assets +€3,827
up €3,827 (+14.0%), from €27,279 to €31,106
of which Other tangible fixed assets: +€2,209
- Other debts +€17,977
up €17,977 (+18.1%), from €99,594 to €117,571
- Tax, wage and social debts -€17,951
down €17,951 (-66.7%), from €26,897 to €8,946
- Trade debts +€4,054
up €4,054 (+72.7%), from €5,578 to €9,632
- Gross operating margin +€25,166
up €25,166 (+19.9%), from €126,577 to €151,743
- Taxes +€5,104
up €5,104 (+17.7%), from €28,777 to €33,881
- Depreciation +€4,664
up €4,664 (+72.4%), from €6,445 to €11,109
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 | €152,532 | €156,615 | +€4,083 | +2.7% |
| Fixed assets | 21/28 | €27,339 | €31,166 | +€3,827 | +14.0% |
| Tangible fixed assets | 22/27 | €27,279 | €31,106 | +€3,827 | +14.0% |
| Furniture and vehicles | 24 | €16,005 | €17,623 | +€1,618 | +10.1% |
| Other tangible fixed assets | 26 | €11,274 | €13,483 | +€2,209 | +19.6% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €125,193 | €125,449 | +€256 | +0.2% |
| Amounts receivable within one year | 40/41 | €2,247 | €21,083 | +€18,836 | +838.1% |
| Trade receivables | 40 | €2,247 | €4,964 | +€2,717 | +120.9% |
| Other amounts receivable | 41 | - | €16,119 | +€16,119 | |
| Cash at bank and in hand | 54/58 | €116,610 | €91,800 | -€24,810 | -21.3% |
| Deferred charges and accrued income | 490/1 | €6,336 | €12,566 | +€6,230 | +98.3% |
| Total equity and liabilities | 10/49 | €152,532 | €156,615 | +€4,083 | +2.7% |
| Equity | 10/15 | €20,463 | €20,466 | +€3 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3 | €6 | +€3 | +87.9% |
| Amounts payable | 17/49 | €132,069 | €136,149 | +€4,080 | +3.1% |
| Amounts payable within one year | 42/48 | €132,069 | €136,149 | +€4,080 | +3.1% |
| Trade debts | 44 | €5,578 | €9,632 | +€4,054 | +72.7% |
| Suppliers | 440/4 | €5,578 | €9,632 | +€4,054 | +72.7% |
| Taxes, remuneration and social security | 45 | €26,897 | €8,946 | -€17,951 | -66.7% |
| Taxes | 450/3 | €26,897 | €8,946 | -€17,951 | -66.7% |
| Other amounts payable | 47/48 | €99,594 | €117,571 | +€17,977 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,445 | €11,109 | +€4,664 | +72.4% |
| Other operating charges | 640/8 | €889 | €911 | +€22 | +2.5% |
| Gross operating margin | 9900 | €126,577 | €151,743 | +€25,166 | +19.9% |
| Operating profit (loss) | 9901 | €119,243 | €139,722 | +€20,480 | +17.2% |
| Financial income | 75/76B | €9 | €2 | -€7 | -76.1% |
| Recurring financial income | 75 | €9 | €2 | -€7 | -76.1% |
| Financial charges | 65/66B | €272 | €251 | -€21 | -7.8% |
| Recurring financial charges | 65 | €272 | €251 | -€21 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €118,980 | €139,474 | +€20,494 | +17.2% |
| Income taxes | 67/77 | €28,777 | €33,881 | +€5,104 | +17.7% |
| Profit (loss) for the period | 9904 | €90,203 | €105,593 | +€15,390 | +17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €90,203 | €105,593 | +€15,390 | +17.1% |
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 12 October 2026 via checked.be.