STRATEGIA: 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.
STRATEGIA
Largest movements
- Receivables after one year -€20,000
down €20,000 (-9.5%), from €210,000 to €190,000
- Cash +€6,194
up €6,194 (+426%), from €1,455 to €7,649
mainly Receivables after one year (+€20,000) and Short-term financial debts (+€4,704)
- Receivables within one year +€5,800
up €5,800 (+110%), from €5,251 to €11,051
- Debts after one year -€17,364
down €17,364 (-23.2%), from €74,816 to €57,452
- Short-term financial debts +€4,704
new in 2025: €4,704
- Other debts +€3,902
up €3,902 (+23.0%), from €16,992 to €20,894
- Gross operating margin -€55,875
down €55,875 (-57.9%), from €96,514 to €40,639
- Staff costs +€29,672
up €29,672 (+354%), from €8,388 to €38,061
- Taxes -€1,420
down €1,420 (-48.1%), from €2,950 to €1,530
- Financial charges -€1,101
down €1,101 (-23.6%), from €4,655 to €3,554
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 | €387,045 | €378,501 | -€8,543 | -2.2% |
| Fixed assets | 21/28 | €1,191 | €654 | -€537 | -45.1% |
| Tangible fixed assets | 22/27 | €1,191 | €654 | -€537 | -45.1% |
| Plant, machinery and equipment | 23 | €1,191 | €654 | -€537 | -45.1% |
| Furniture and vehicles | 24 | €1 | - | -€1 | |
| Current assets | 29/58 | €385,853 | €377,847 | -€8,006 | -2.1% |
| Amounts receivable after more than one year | 29 | €210,000 | €190,000 | -€20,000 | -9.5% |
| Other amounts receivable | 291 | €210,000 | €190,000 | -€20,000 | -9.5% |
| Amounts receivable within one year | 40/41 | €5,251 | €11,051 | +€5,800 | +110% |
| Trade receivables | 40 | €5,251 | €11,051 | +€5,800 | +110% |
| Current investments | 50/53 | €169,147 | €169,147 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,455 | €7,649 | +€6,194 | +426% |
| Total equity and liabilities | 10/49 | €387,045 | €378,501 | -€8,543 | -2.2% |
| Equity | 10/15 | €257,936 | €258,305 | +€370 | +0.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €87,195 | €87,195 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,299 | €3,299 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,299 | €3,299 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,793 | €41,793 | = | 0.0% |
| Distributable reserves | 133 | €42,103 | €42,103 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,260 | -€28,890 | +€370 | +1.3% |
| Provisions and deferred taxes | 16 | €13,931 | €13,931 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €13,931 | €13,931 | = | 0.0% |
| Taxes | 161 | €13,931 | €13,931 | = | 0.0% |
| Amounts payable | 17/49 | €115,178 | €106,265 | -€8,913 | -7.7% |
| Amounts payable after more than one year | 17 | €74,816 | €57,452 | -€17,364 | -23.2% |
| Financial debts | 170/4 | €74,816 | €57,452 | -€17,364 | -23.2% |
| Amounts payable within one year | 42/48 | €40,362 | €48,813 | +€8,451 | +20.9% |
| Financial debts | 43 | - | €4,704 | +€4,704 | |
| Credit institutions | 430/8 | - | €4,704 | +€4,704 | |
| Trade debts | 44 | €2,355 | €4,311 | +€1,955 | +83.0% |
| Suppliers | 440/4 | €2,355 | €4,311 | +€1,955 | +83.0% |
| Taxes, remuneration and social security | 45 | €21,014 | €18,905 | -€2,110 | -10.0% |
| Remuneration and social security | 454/9 | €21,014 | €18,905 | -€2,110 | -10.0% |
| Other amounts payable | 47/48 | €16,992 | €20,894 | +€3,902 | +23.0% |
| Remuneration, social security and pensions | 62 | €8,388 | €38,061 | +€29,672 | +354% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €723 | €537 | -€186 | -25.7% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €96,514 | €40,639 | -€55,875 | -57.9% |
| Operating profit (loss) | 9901 | €87,018 | €1,654 | -€85,364 | -98.1% |
| Financial income | 75/76B | €4,270 | €3,800 | -€470 | -11.0% |
| Recurring financial income | 75 | €4,270 | €3,800 | -€470 | -11.0% |
| Financial charges | 65/66B | €4,655 | €3,554 | -€1,101 | -23.6% |
| Recurring financial charges | 65 | €4,655 | €3,554 | -€1,101 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €86,633 | €1,900 | -€84,733 | -97.8% |
| Transfer to deferred taxes | 680 | €13,931 | - | -€13,931 | |
| Income taxes | 67/77 | €2,950 | €1,530 | -€1,420 | -48.1% |
| Profit (loss) for the period | 9904 | €69,752 | €370 | -€69,382 | -99.5% |
| Transfer to tax-exempt reserves | 689 | €41,793 | - | -€41,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,958 | €370 | -€27,589 | -98.7% |
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 16 October 2026 via checked.be.