SO …: 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.
SO …
Largest movements
- Cash -€91,080
down €91,080 (-76.9%), from €118,463 to €27,383
mainly Other debts (-€78,205) and Contributions, distributions and other (-€48,208)
- Stocks and contracts +€20,221
up €20,221 (+28.6%), from €70,606 to €90,827
- Receivables within one year -€8,181
down €8,181 (-44.1%), from €18,545 to €10,364
of which Other amounts receivable: -€7,855
- Other debts -€78,205
down €78,205 (-75.3%), from €103,830 to €25,625
- Trade debts -€6,217
down €6,217 (-34.0%), from €18,296 to €12,079
- Tax, wage and social debts +€5,800
up €5,800 (+11604.6%), from €50 to €5,850
- Gross operating margin +€11,163
up €11,163 (+21.3%), from €52,348 to €63,511
- Taxes +€3,651
up €3,651 (+27.8%), from €13,149 to €16,800
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 | €220,483 | €139,984 | -€80,499 | -36.5% |
| Fixed assets | 21/28 | €12,819 | €10,484 | -€2,335 | -18.2% |
| Intangible fixed assets | 21 | €730 | €393 | -€337 | -46.2% |
| Tangible fixed assets | 22/27 | €11,439 | €9,441 | -€1,998 | -17.5% |
| Plant, machinery and equipment | 23 | €2,171 | €1,401 | -€770 | -35.5% |
| Other tangible fixed assets | 26 | €9,268 | €8,040 | -€1,228 | -13.2% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €207,663 | €129,500 | -€78,164 | -37.6% |
| Stocks and contracts in progress | 3 | €70,606 | €90,827 | +€20,221 | +28.6% |
| Stocks | 30/36 | €70,606 | €90,827 | +€20,221 | +28.6% |
| Amounts receivable within one year | 40/41 | €18,545 | €10,364 | -€8,181 | -44.1% |
| Trade receivables | 40 | €327 | - | -€327 | |
| Other amounts receivable | 41 | €18,218 | €10,364 | -€7,855 | -43.1% |
| Cash at bank and in hand | 54/58 | €118,463 | €27,383 | -€91,080 | -76.9% |
| Deferred charges and accrued income | 490/1 | €50 | €927 | +€877 | +1760.9% |
| Total equity and liabilities | 10/49 | €220,483 | €139,984 | -€80,499 | -36.5% |
| Equity | 10/15 | €98,306 | €96,429 | -€1,877 | -1.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €88,306 | €86,429 | -€1,877 | -2.1% |
| Distributable reserves | 133 | €88,306 | €86,429 | -€1,877 | -2.1% |
| Amounts payable | 17/49 | €122,177 | €43,555 | -€78,622 | -64.4% |
| Amounts payable within one year | 42/48 | €122,177 | €43,555 | -€78,622 | -64.4% |
| Trade debts | 44 | €18,296 | €12,079 | -€6,217 | -34.0% |
| Suppliers | 440/4 | €18,296 | €12,079 | -€6,217 | -34.0% |
| Taxes, remuneration and social security | 45 | €50 | €5,850 | +€5,800 | +11604.6% |
| Taxes | 450/3 | €50 | €5,850 | +€5,800 | +11604.6% |
| Other amounts payable | 47/48 | €103,830 | €25,625 | -€78,205 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,830 | €2,335 | +€505 | +27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,217 | -€3,787 | +€431 | +10.2% |
| Other operating charges | 640/8 | €543 | €926 | +€382 | +70.3% |
| Gross operating margin | 9900 | €52,348 | €63,511 | +€11,163 | +21.3% |
| Operating profit (loss) | 9901 | €54,192 | €64,037 | +€9,845 | +18.2% |
| Financial charges | 65/66B | €945 | €906 | -€39 | -4.2% |
| Recurring financial charges | 65 | €945 | €906 | -€39 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €53,247 | €63,131 | +€9,884 | +18.6% |
| Income taxes | 67/77 | €13,149 | €16,800 | +€3,651 | +27.8% |
| Profit (loss) for the period | 9904 | €40,098 | €46,331 | +€6,233 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,098 | €46,331 | +€6,233 | +15.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.