SO GOOD: 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.
SO GOOD
Largest movements
- Tangible fixed assets -€42,180
down €42,180 (-49.5%), from €85,241 to €43,061
of which Plant, machinery and equipment: -€33,791
- Receivables within one year -€11,162
down €11,162 (-10.0%), from €111,777 to €100,616
of which Trade receivables: -€7,116
- Cash +€3,369
up €3,369 (+778.9%), from €433 to €3,801
mainly Depreciation (+€42,180) and Trade debts (+€40,713)
- Deferred charges and accrued income -€3,170
down €3,170 (-58.4%), from €5,425 to €2,255
- Profit (loss) carried forward -€46,701
down €46,701 (-10.5%), from -€445,753 to -€492,454
- Trade debts +€40,713
up €40,713 (+9.4%), from €432,402 to €473,114
- Debts after one year -€33,841
down €33,841 (-40.4%), from €83,759 to €49,918
- Tax, wage and social debts -€12,248
down €12,248 (-56.3%), from €21,772 to €9,524
of which Remuneration and social security: -€11,598
- Short-term financial debts +€4,694
up €4,694 (+135.8%), from €3,456 to €8,150
- Gross operating margin -€9,690
down €9,690 (-4.7%), from €205,393 to €195,703
- Staff costs -€9,548
down €9,548 (-4.8%), from €199,932 to €190,384
- Financial charges -€3,465
down €3,465 (-30.6%), from €11,313 to €7,847
- Depreciation +€3,250
up €3,250 (+8.3%), from €38,930 to €42,180
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 | €274,934 | €223,263 | -€51,671 | -18.8% |
| Fixed assets | 21/28 | €85,542 | €43,362 | -€42,180 | -49.3% |
| Tangible fixed assets | 22/27 | €85,241 | €43,061 | -€42,180 | -49.5% |
| Plant, machinery and equipment | 23 | €67,452 | €33,661 | -€33,791 | -50.1% |
| Furniture and vehicles | 24 | €17,789 | €9,401 | -€8,389 | -47.2% |
| Financial fixed assets | 28 | €301 | €301 | = | 0.0% |
| Current assets | 29/58 | €189,391 | €179,900 | -€9,491 | -5.0% |
| Stocks and contracts in progress | 3 | €71,756 | €73,228 | +€1,472 | +2.1% |
| Stocks | 30/36 | €71,756 | €73,228 | +€1,472 | +2.1% |
| Amounts receivable within one year | 40/41 | €111,777 | €100,616 | -€11,162 | -10.0% |
| Trade receivables | 40 | €70,859 | €63,743 | -€7,116 | -10.0% |
| Other amounts receivable | 41 | €40,918 | €36,873 | -€4,045 | -9.9% |
| Cash at bank and in hand | 54/58 | €433 | €3,801 | +€3,369 | +778.9% |
| Deferred charges and accrued income | 490/1 | €5,425 | €2,255 | -€3,170 | -58.4% |
| Total equity and liabilities | 10/49 | €274,934 | €223,263 | -€51,671 | -18.8% |
| Equity | 10/15 | -€345,753 | -€392,454 | -€46,701 | -13.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€445,753 | -€492,454 | -€46,701 | -10.5% |
| Amounts payable | 17/49 | €620,686 | €615,717 | -€4,970 | -0.8% |
| Amounts payable after more than one year | 17 | €83,759 | €49,918 | -€33,841 | -40.4% |
| Financial debts | 170/4 | €83,759 | €49,918 | -€33,841 | -40.4% |
| Amounts payable within one year | 42/48 | €536,927 | €565,799 | +€28,872 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €43,260 | €38,674 | -€4,586 | -10.6% |
| Financial debts | 43 | €3,456 | €8,150 | +€4,694 | +135.8% |
| Credit institutions | 430/8 | €3,456 | €8,150 | +€4,694 | +135.8% |
| Trade debts | 44 | €432,402 | €473,114 | +€40,713 | +9.4% |
| Suppliers | 440/4 | €432,402 | €473,114 | +€40,713 | +9.4% |
| Taxes, remuneration and social security | 45 | €21,772 | €9,524 | -€12,248 | -56.3% |
| Taxes | 450/3 | €2,167 | €1,517 | -€650 | -30.0% |
| Remuneration and social security | 454/9 | €19,605 | €8,007 | -€11,598 | -59.2% |
| Other amounts payable | 47/48 | €36,038 | €36,337 | +€299 | +0.8% |
| Remuneration, social security and pensions | 62 | €199,932 | €190,384 | -€9,548 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,930 | €42,180 | +€3,250 | +8.3% |
| Other operating charges | 640/8 | €1,468 | €2,448 | +€980 | +66.7% |
| Gross operating margin | 9900 | €205,393 | €195,703 | -€9,690 | -4.7% |
| Operating profit (loss) | 9901 | -€34,937 | -€39,309 | -€4,372 | -12.5% |
| Financial income | 75/76B | €89 | €27 | -€62 | -69.3% |
| Recurring financial income | 75 | €89 | €27 | -€62 | -69.3% |
| Financial charges | 65/66B | €11,313 | €7,847 | -€3,465 | -30.6% |
| Recurring financial charges | 65 | €11,313 | €7,847 | -€3,465 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | -€46,160 | -€47,129 | -€968 | -2.1% |
| Income taxes | 67/77 | - | -€427 | -€427 | |
| Profit (loss) for the period | 9904 | -€46,160 | -€46,701 | -€541 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,160 | -€46,701 | -€541 | -1.2% |
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 5 October 2026 via checked.be.