Run Project and Solution: 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.
Run Project and Solution
Largest movements
- Cash +€69,721
up €69,721 (+103.8%), from €67,158 to €136,879
mainly Net result for the year (+€46,824) and Receivables within one year (+€45,898)
- Receivables within one year -€45,898
no longer reported in 2025 (was €45,898)
of which Trade receivables: -€30,846
- Tangible fixed assets +€4,269
up €4,269 (+19.7%), from €21,687 to €25,956
of which Other tangible fixed assets: +€3,025
- Deferred charges and accrued income -€2,869
down €2,869 (-27.7%), from €10,366 to €7,497
- Reserves +€13,000
up €13,000 (+9.4%), from €138,860 to €151,860
of which Distributable reserves: +€13,000
- Profit (loss) carried forward +€9,324
up €9,324, from -€9,014 to €310
- Tax, wage and social debts +€5,992
up €5,992 (+4341.9%), from €138 to €6,130
- Current portion of long-term debt -€2,125
down €2,125 (-20.5%), from €10,392 to €8,267
- Financial charges -€83,059
down €83,059 (-98.3%), from €84,508 to €1,449
- Taxes +€16,011
up €16,011 (+6064.7%), from €264 to €16,275
- Gross operating margin -€9,046
down €9,046 (-11.8%), from €76,947 to €67,901
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 | €152,142 | €177,385 | +€25,243 | +16.6% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €21,720 | €26,009 | +€4,289 | +19.7% |
| Tangible fixed assets | 22/27 | €21,687 | €25,956 | +€4,269 | +19.7% |
| Plant, machinery and equipment | 23 | €871 | €647 | -€224 | -25.7% |
| Furniture and vehicles | 24 | - | €1,468 | +€1,468 | |
| Other tangible fixed assets | 26 | €20,816 | €23,841 | +€3,025 | +14.5% |
| Financial fixed assets | 28 | €33 | €53 | +€20 | +60.6% |
| Current assets | 29/58 | €130,422 | €151,376 | +€20,954 | +16.1% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €45,898 | - | -€45,898 | |
| Trade receivables | 40 | €30,846 | - | -€30,846 | |
| Other amounts receivable | 41 | €15,052 | - | -€15,052 | |
| Cash at bank and in hand | 54/58 | €67,158 | €136,879 | +€69,721 | +103.8% |
| Deferred charges and accrued income | 490/1 | €10,366 | €7,497 | -€2,869 | -27.7% |
| Total equity and liabilities | 10/49 | €152,142 | €177,385 | +€25,243 | +16.6% |
| Equity | 10/15 | €136,046 | €158,370 | +€22,324 | +16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €138,860 | €151,860 | +€13,000 | +9.4% |
| Tax-exempt reserves | 132 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €126,360 | €139,360 | +€13,000 | +10.3% |
| Profit (loss) carried forward | 14 | -€9,014 | €310 | +€9,324 | |
| Amounts payable | 17/49 | €16,096 | €19,015 | +€2,919 | +18.1% |
| Amounts payable within one year | 42/48 | €15,820 | €19,015 | +€3,195 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €10,392 | €8,267 | -€2,125 | -20.5% |
| Trade debts | 44 | €5,290 | €4,295 | -€995 | -18.8% |
| Suppliers | 440/4 | €5,290 | €4,295 | -€995 | -18.8% |
| Taxes, remuneration and social security | 45 | €138 | €6,130 | +€5,992 | +4341.9% |
| Taxes | 450/3 | €138 | €6,130 | +€5,992 | +4341.9% |
| Other amounts payable | 47/48 | - | €323 | +€323 | |
| Accrued charges and deferred income | 492/3 | €276 | - | -€276 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,335 | €3,354 | +€19 | +0.6% |
| Other operating charges | 640/8 | €83 | - | -€83 | |
| Gross operating margin | 9900 | €76,947 | €67,901 | -€9,046 | -11.8% |
| Operating profit (loss) | 9901 | €73,529 | €64,547 | -€8,982 | -12.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €84,508 | €1,449 | -€83,059 | -98.3% |
| Recurring financial charges | 65 | €84,508 | €1,449 | -€83,059 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,979 | €63,099 | +€74,078 | |
| Income taxes | 67/77 | €264 | €16,275 | +€16,011 | +6064.7% |
| Profit (loss) for the period | 9904 | -€11,243 | €46,824 | +€58,067 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,243 | €46,824 | +€58,067 |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.