S CAPE: 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.
S CAPE
Largest movements
- Receivables within one year +€94,810
up €94,810 (+135.5%), from €69,947 to €164,757
- Tangible fixed assets -€16,389
down €16,389 (-40.6%), from €40,317 to €23,929
of which Plant, machinery and equipment: -€8,232
- Cash -€3,169
down €3,169 (-6.5%), from €48,968 to €45,799
mainly Receivables within one year (-€94,810) and Advances received (-€63,201)
- Trade debts +€152,255
up €152,255 (+191.5%), from €79,523 to €231,778
- Advances received -€63,201
no longer reported in 2025 (was €63,201)
- Profit (loss) carried forward +€33,788
up €33,788 (+33.4%), from -€101,214 to -€67,426
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Debts after one year -€16,559
down €16,559 (-49.3%), from €33,618 to €17,059
- Other operating charges +€36,110
up €36,110 (+95.4%), from €37,846 to €73,956
- Financial charges -€13,060
down €13,060 (-65.8%), from €19,835 to €6,775
of which Non-recurring financial charges: -€10,000
- Financial income +€6,073
up €6,073 (+580.9%), from €1,046 to €7,119
- Depreciation -€3,854
down €3,854 (-20.6%), from €18,753 to €14,898
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 | €165,649 | €238,855 | +€73,206 | +44.2% |
| Fixed assets | 21/28 | €40,317 | €23,929 | -€16,389 | -40.6% |
| Tangible fixed assets | 22/27 | €40,317 | €23,929 | -€16,389 | -40.6% |
| Plant, machinery and equipment | 23 | €25,512 | €17,280 | -€8,232 | -32.3% |
| Furniture and vehicles | 24 | €14,806 | €6,648 | -€8,157 | -55.1% |
| Current assets | 29/58 | €125,331 | €214,927 | +€89,595 | +71.5% |
| Amounts receivable within one year | 40/41 | €69,947 | €164,757 | +€94,810 | +135.5% |
| Other amounts receivable | 41 | €69,947 | €164,757 | +€94,810 | +135.5% |
| Cash at bank and in hand | 54/58 | €48,968 | €45,799 | -€3,169 | -6.5% |
| Deferred charges and accrued income | 490/1 | €6,416 | €4,370 | -€2,046 | -31.9% |
| Total equity and liabilities | 10/49 | €165,649 | €238,855 | +€73,206 | +44.2% |
| Equity | 10/15 | -€62,714 | -€28,926 | +€33,788 | +53.9% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,214 | -€67,426 | +€33,788 | +33.4% |
| Amounts payable | 17/49 | €228,363 | €267,781 | +€39,418 | +17.3% |
| Amounts payable after more than one year | 17 | €33,618 | €17,059 | -€16,559 | -49.3% |
| Financial debts | 170/4 | €33,618 | €17,059 | -€16,559 | -49.3% |
| Amounts payable within one year | 42/48 | €192,173 | €248,337 | +€56,164 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €20,741 | €16,559 | -€4,182 | -20.2% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €79,523 | €231,778 | +€152,255 | +191.5% |
| Suppliers | 440/4 | €79,523 | €231,778 | +€152,255 | +191.5% |
| Advances received on contracts in progress | 46 | €63,201 | - | -€63,201 | |
| Other amounts payable | 47/48 | €3,708 | - | -€3,708 | |
| Accrued charges and deferred income | 492/3 | €2,573 | €2,386 | -€187 | -7.3% |
| Non-recurring operating income | 76A | - | €15,038 | +€15,038 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,753 | €14,898 | -€3,854 | -20.6% |
| Other operating charges | 640/8 | €37,846 | €73,956 | +€36,110 | +95.4% |
| Gross operating margin | 9900 | €122,556 | €123,347 | +€791 | +0.6% |
| Operating profit (loss) | 9901 | €65,958 | €34,493 | -€31,465 | -47.7% |
| Financial income | 75/76B | €1,046 | €7,119 | +€6,073 | +580.9% |
| Recurring financial income | 75 | €1,046 | €7,119 | +€6,073 | +580.9% |
| Financial charges | 65/66B | €19,835 | €6,775 | -€13,060 | -65.8% |
| Recurring financial charges | 65 | €9,835 | €6,775 | -€3,060 | -31.1% |
| Non-recurring financial charges | 66B | €10,000 | - | -€10,000 | |
| Profit (loss) for the period before taxes | 9903 | €47,168 | €34,837 | -€12,331 | -26.1% |
| Income taxes | 67/77 | €702 | €1,049 | +€348 | +49.5% |
| Profit (loss) for the period | 9904 | €46,467 | €33,788 | -€12,679 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,467 | €33,788 | -€12,679 | -27.3% |
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.