ROB STASSEN: 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.
ROB STASSEN
Largest movements
- Tangible fixed assets -€16,789
down €16,789 (-29.5%), from €56,886 to €40,097
of which Furniture and vehicles: -€14,815
- Receivables after one year +€9,742
up €9,742 (+12.6%), from €77,533 to €87,275
- Receivables within one year +€8,572
up €8,572 (+26.7%), from €32,062 to €40,634
of which Trade receivables: +€9,550
- Cash +€7,061
up €7,061 (+15.1%), from €46,907 to €53,969
mainly Net result for the year (+€28,679) and Depreciation (+€19,760)
- Other debts +€13,773
up €13,773 (+30.1%), from €45,767 to €59,539
- Gross operating margin +€11,224
up €11,224 (+28.4%), from €39,501 to €50,725
- Financial income +€7,604
up €7,604 (+158.5%), from €4,796 to €12,400
- Taxes +€4,911
up €4,911 (+72.8%), from €6,748 to €11,658
- Other operating charges -€1,120
down €1,120 (-44.5%), from €2,514 to €1,394
- Financial charges +€559
up €559 (+52.1%), from €1,074 to €1,634
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 | €282,207 | €293,559 | +€11,352 | +4.0% |
| Fixed assets | 21/28 | €56,886 | €40,097 | -€16,789 | -29.5% |
| Tangible fixed assets | 22/27 | €56,886 | €40,097 | -€16,789 | -29.5% |
| Plant, machinery and equipment | 23 | €3,389 | €1,415 | -€1,974 | -58.3% |
| Furniture and vehicles | 24 | €53,496 | €38,682 | -€14,815 | -27.7% |
| Current assets | 29/58 | €225,321 | €253,462 | +€28,141 | +12.5% |
| Amounts receivable after more than one year | 29 | €77,533 | €87,275 | +€9,742 | +12.6% |
| Other amounts receivable | 291 | €77,533 | €87,275 | +€9,742 | +12.6% |
| Amounts receivable within one year | 40/41 | €32,062 | €40,634 | +€8,572 | +26.7% |
| Trade receivables | 40 | €31,084 | €40,634 | +€9,550 | +30.7% |
| Other amounts receivable | 41 | €978 | €0 | -€978 | -100.0% |
| Current investments | 50/53 | €65,341 | €65,341 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,907 | €53,969 | +€7,061 | +15.1% |
| Deferred charges and accrued income | 490/1 | €3,478 | €6,243 | +€2,765 | +79.5% |
| Total equity and liabilities | 10/49 | €282,207 | €293,559 | +€11,352 | +4.0% |
| Equity | 10/15 | €231,988 | €229,231 | -€2,757 | -1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €122,168 | €119,412 | -€2,757 | -2.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €6,804 | €6,804 | = | 0.0% |
| Distributable reserves | 133 | €115,365 | €112,608 | -€2,757 | -2.4% |
| Profit (loss) carried forward | 14 | €97,420 | €97,420 | = | 0.0% |
| Amounts payable | 17/49 | €50,219 | €64,327 | +€14,108 | +28.1% |
| Amounts payable within one year | 42/48 | €50,219 | €63,517 | +€13,298 | +26.5% |
| Trade debts | 44 | €352 | €126 | -€226 | -64.1% |
| Suppliers | 440/4 | €352 | €126 | -€226 | -64.1% |
| Taxes, remuneration and social security | 45 | €4,101 | €3,852 | -€249 | -6.1% |
| Taxes | 450/3 | €4,101 | €3,852 | -€249 | -6.1% |
| Other amounts payable | 47/48 | €45,767 | €59,539 | +€13,773 | +30.1% |
| Accrued charges and deferred income | 492/3 | - | €810 | +€810 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,487 | €19,760 | +€273 | +1.4% |
| Other operating charges | 640/8 | €2,514 | €1,394 | -€1,120 | -44.5% |
| Gross operating margin | 9900 | €39,501 | €50,725 | +€11,224 | +28.4% |
| Operating profit (loss) | 9901 | €17,500 | €29,571 | +€12,070 | +69.0% |
| Financial income | 75/76B | €4,796 | €12,400 | +€7,604 | +158.5% |
| Recurring financial income | 75 | €4,796 | €12,400 | +€7,604 | +158.5% |
| Financial charges | 65/66B | €1,074 | €1,634 | +€559 | +52.1% |
| Recurring financial charges | 65 | €1,074 | €1,634 | +€559 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | €21,223 | €40,337 | +€19,114 | +90.1% |
| Income taxes | 67/77 | €6,748 | €11,658 | +€4,911 | +72.8% |
| Profit (loss) for the period | 9904 | €14,475 | €28,679 | +€14,204 | +98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,475 | €28,679 | +€14,204 | +98.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.