Stijn Barbio: 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.
Stijn Barbio
Largest movements
- Cash -€261,397
down €261,397 (-51.5%), from €508,031 to €246,634
mainly Stocks and contracts (-€174,000) and Other debts (-€121,279)
- Stocks and contracts +€174,000
up €174,000 (+28.2%), from €617,400 to €791,400
- Tangible fixed assets -€75,872
down €75,872 (-31.1%), from €243,607 to €167,735
of which Furniture and vehicles: -€55,313
- Receivables within one year -€52,209
down €52,209 (-12.6%), from €413,454 to €361,245
of which Trade receivables: -€167,125
- Other debts -€121,279
down €121,279 (-60.5%), from €200,524 to €79,245
- Short-term financial debts +€103,075
up €103,075 (+25.3%), from €407,047 to €510,122
- Debts after one year -€63,454
down €63,454 (-38.6%), from €164,205 to €100,751
- Tax, wage and social debts -€51,354
down €51,354 (-67.5%), from €76,029 to €24,675
of which Taxes: -€59,068
- Profit (loss) carried forward -€46,326
down €46,326, from €0 to -€46,326
- Gross operating margin -€171,692
down €171,692 (-43.1%), from €397,993 to €226,301
- Taxes -€44,786
down €44,786 (-99.2%), from €45,135 to €349
- Staff costs +€17,577
up €17,577 (+15.3%), from €114,978 to €132,555
- Financial charges +€9,710
up €9,710 (+19.2%), from €50,456 to €60,166
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.
Derived cash bridge
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 | €1,784,058 | €1,568,641 | -€215,417 | -12.1% |
| Fixed assets | 21/28 | €243,997 | €168,125 | -€75,872 | -31.1% |
| Tangible fixed assets | 22/27 | €243,607 | €167,735 | -€75,872 | -31.1% |
| Plant, machinery and equipment | 23 | €57,292 | €42,920 | -€14,371 | -25.1% |
| Furniture and vehicles | 24 | €176,626 | €121,313 | -€55,313 | -31.3% |
| Other tangible fixed assets | 26 | €9,689 | €3,502 | -€6,188 | -63.9% |
| Financial fixed assets | 28 | €390 | €390 | = | 0.0% |
| Current assets | 29/58 | €1,540,061 | €1,400,516 | -€139,545 | -9.1% |
| Stocks and contracts in progress | 3 | €617,400 | €791,400 | +€174,000 | +28.2% |
| Contracts in progress | 37 | €617,400 | €791,400 | +€174,000 | +28.2% |
| Amounts receivable within one year | 40/41 | €413,454 | €361,245 | -€52,209 | -12.6% |
| Trade receivables | 40 | €316,300 | €149,175 | -€167,125 | -52.8% |
| Other amounts receivable | 41 | €97,154 | €212,070 | +€114,916 | +118% |
| Cash at bank and in hand | 54/58 | €508,031 | €246,634 | -€261,397 | -51.5% |
| Deferred charges and accrued income | 490/1 | €1,177 | €1,237 | +€60 | +5.1% |
| Total equity and liabilities | 10/49 | €1,784,058 | €1,568,641 | -€215,417 | -12.1% |
| Equity | 10/15 | €799,776 | €753,450 | -€46,326 | -5.8% |
| Reserves | 13 | €799,776 | €799,776 | = | 0.0% |
| Distributable reserves | 133 | €799,776 | €799,776 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€46,326 | -€46,326 | |
| Amounts payable | 17/49 | €984,282 | €815,191 | -€169,091 | -17.2% |
| Amounts payable after more than one year | 17 | €164,205 | €100,751 | -€63,454 | -38.6% |
| Financial debts | 170/4 | €164,205 | €100,751 | -€63,454 | -38.6% |
| Amounts payable within one year | 42/48 | €812,378 | €700,953 | -€111,426 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €61,268 | €63,454 | +€2,186 | +3.6% |
| Financial debts | 43 | €407,047 | €510,122 | +€103,075 | +25.3% |
| Credit institutions | 430/8 | €407,047 | €510,122 | +€103,075 | +25.3% |
| Trade debts | 44 | €67,510 | €23,457 | -€44,053 | -65.3% |
| Suppliers | 440/4 | €67,510 | €23,457 | -€44,053 | -65.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €76,029 | €24,675 | -€51,354 | -67.5% |
| Taxes | 450/3 | €65,786 | €6,719 | -€59,068 | -89.8% |
| Remuneration and social security | 454/9 | €10,243 | €17,956 | +€7,714 | +75.3% |
| Other amounts payable | 47/48 | €200,524 | €79,245 | -€121,279 | -60.5% |
| Accrued charges and deferred income | 492/3 | €7,699 | €13,488 | +€5,789 | +75.2% |
| Remuneration, social security and pensions | 62 | €114,978 | €132,555 | +€17,577 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,029 | €78,877 | +€1,848 | +2.4% |
| Other operating charges | 640/8 | €4,939 | €3,331 | -€1,609 | -32.6% |
| Gross operating margin | 9900 | €397,993 | €226,301 | -€171,692 | -43.1% |
| Operating profit (loss) | 9901 | €201,047 | €11,539 | -€189,508 | -94.3% |
| Financial income | 75/76B | €1,133 | €2,649 | +€1,516 | +134% |
| Recurring financial income | 75 | €1,133 | €2,649 | +€1,516 | +134% |
| Financial charges | 65/66B | €50,456 | €60,166 | +€9,710 | +19.2% |
| Recurring financial charges | 65 | €50,456 | €60,166 | +€9,710 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €151,724 | -€45,977 | -€197,701 | |
| Income taxes | 67/77 | €45,135 | €349 | -€44,786 | -99.2% |
| Profit (loss) for the period | 9904 | €106,589 | -€46,326 | -€152,916 | |
| Profit (loss) for the period to be appropriated | 9905 | €106,589 | -€46,326 | -€152,916 |
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 28 October 2026 via checked.be.