STAGE ONE: 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.
STAGE ONE
Largest movements
- Receivables within one year -€369,092
down €369,092 (-84.4%), from €437,312 to €68,221
of which Trade receivables: -€401,303
- Tangible fixed assets +€27,400
up €27,400 (+51.4%), from €53,284 to €80,684
of which Plant, machinery and equipment: +€29,145
- Trade debts -€184,473
down €184,473 (-68.1%), from €270,942 to €86,469
of which Suppliers: -€235,523
- Tax, wage and social debts -€104,595
down €104,595 (-97.0%), from €107,879 to €3,284
- Other debts -€50,047
down €50,047 (-52.7%), from €95,007 to €44,960
- Gross operating margin -€142,648
down €142,648 (-93.8%), from €152,086 to €9,438
- Depreciation -€32,229
down €32,229 (-92.8%), from €34,743 to €2,514
- Other operating charges +€5,336
up €5,336 (+187.7%), from €2,842 to €8,178
- Taxes -€5,198
down €5,198 (-78.2%), from €6,646 to €1,448
- Financial income +€5,060
up €5,060 (+4250.0%), from €119 to €5,179
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 | €493,884 | €152,981 | -€340,903 | -69.0% |
| Fixed assets | 21/28 | €55,284 | €82,684 | +€27,400 | +49.6% |
| Tangible fixed assets | 22/27 | €53,284 | €80,684 | +€27,400 | +51.4% |
| Plant, machinery and equipment | 23 | €5,260 | €34,404 | +€29,145 | +554.1% |
| Furniture and vehicles | 24 | €48,025 | €46,280 | -€1,745 | -3.6% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €438,600 | €70,297 | -€368,303 | -84.0% |
| Amounts receivable within one year | 40/41 | €437,312 | €68,221 | -€369,092 | -84.4% |
| Trade receivables | 40 | €401,580 | €277 | -€401,303 | -99.9% |
| Other amounts receivable | 41 | €35,732 | €67,943 | +€32,211 | +90.1% |
| Cash at bank and in hand | 54/58 | €1,287 | €2,076 | +€788 | +61.3% |
| Total equity and liabilities | 10/49 | €493,884 | €152,981 | -€340,903 | -69.0% |
| Equity | 10/15 | €20,056 | €18,268 | -€1,789 | -8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,796 | €4,008 | -€1,789 | -30.9% |
| Amounts payable | 17/49 | €473,827 | €134,713 | -€339,114 | -71.6% |
| Amounts payable within one year | 42/48 | €473,827 | €134,713 | -€339,114 | -71.6% |
| Trade debts | 44 | €270,942 | €86,469 | -€184,473 | -68.1% |
| Suppliers | 440/4 | €270,942 | €35,419 | -€235,523 | -86.9% |
| Bills of exchange payable | 441 | - | €51,050 | +€51,050 | |
| Taxes, remuneration and social security | 45 | €107,879 | €3,284 | -€104,595 | -97.0% |
| Taxes | 450/3 | €107,879 | €3,284 | -€104,595 | -97.0% |
| Other amounts payable | 47/48 | €95,007 | €44,960 | -€50,047 | -52.7% |
| Non-recurring operating income | 76A | - | €37,740 | +€37,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,743 | €2,514 | -€32,229 | -92.8% |
| Other operating charges | 640/8 | €2,842 | €8,178 | +€5,336 | +187.7% |
| Gross operating margin | 9900 | €152,086 | €9,438 | -€142,648 | -93.8% |
| Operating profit (loss) | 9901 | €114,501 | -€1,254 | -€115,755 | |
| Financial income | 75/76B | €119 | €5,179 | +€5,060 | +4250.0% |
| Recurring financial income | 75 | €119 | €5,179 | +€5,060 | +4250.0% |
| Financial charges | 65/66B | €982 | €5,688 | +€4,706 | +479.3% |
| Recurring financial charges | 65 | €982 | €5,688 | +€4,706 | +479.3% |
| Profit (loss) for the period before taxes | 9903 | €113,638 | -€1,763 | -€115,401 | |
| Income taxes | 67/77 | €6,646 | €1,448 | -€5,198 | -78.2% |
| Profit (loss) for the period | 9904 | €106,992 | -€3,211 | -€110,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,992 | -€3,211 | -€110,203 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.