STRATEGY AT WORK: 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.
STRATEGY AT WORK
Largest movements
- Receivables within one year +€546,452
up €546,452 (+48.2%), from €1.1m to €1.7m
of which Trade receivables: +€366,059
- Cash +€375,151
up €375,151 (+18.8%), from €2.0m to €2.4m
mainly Net result for the year (+€730,632) and Receivables after one year (+€100,000)
- Tangible fixed assets -€136,666
down €136,666 (-21.6%), from €633,561 to €496,895
of which Other tangible fixed assets: -€72,030
- Receivables after one year -€100,000
down €100,000 (-71.4%), from €140,000 to €40,000
- Reserves +€728,632
up €728,632 (+30.4%), from €2.4m to €3.1m
of which Distributable reserves: +€636,152
- Other debts -€182,110
down €182,110 (-67.2%), from €270,943 to €88,833
- Current portion of long-term debt +€80,000
up €80,000 (+200%), from €40,000 to €120,000
- Gross operating margin +€296,769
up €296,769 (+33.0%), from €898,746 to €1.2m
- Taxes +€50,089
up €50,089 (+14.4%), from €347,046 to €397,134
- Financial income +€47,699
up €47,699 (+103%), from €46,489 to €94,188
- Financial charges -€16,965
down €16,965 (-26.8%), from €63,354 to €46,389
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,905,484 | €4,592,622 | +€687,139 | +17.6% |
| Fixed assets | 21/28 | €633,561 | €496,895 | -€136,666 | -21.6% |
| Tangible fixed assets | 22/27 | €633,561 | €496,895 | -€136,666 | -21.6% |
| Land and buildings | 22 | €453,222 | €407,570 | -€45,652 | -10.1% |
| Plant, machinery and equipment | 23 | €3,149 | €4,153 | +€1,004 | +31.9% |
| Furniture and vehicles | 24 | €43,802 | €23,814 | -€19,988 | -45.6% |
| Other tangible fixed assets | 26 | €133,388 | €61,358 | -€72,030 | -54.0% |
| Current assets | 29/58 | €3,271,922 | €4,095,728 | +€823,805 | +25.2% |
| Amounts receivable after more than one year | 29 | €140,000 | €40,000 | -€100,000 | -71.4% |
| Other amounts receivable | 291 | €140,000 | €40,000 | -€100,000 | -71.4% |
| Amounts receivable within one year | 40/41 | €1,134,855 | €1,681,307 | +€546,452 | +48.2% |
| Trade receivables | 40 | €3,373 | €369,432 | +€366,059 | +10,852% |
| Other amounts receivable | 41 | €1,131,482 | €1,311,875 | +€180,393 | +15.9% |
| Cash at bank and in hand | 54/58 | €1,997,067 | €2,372,218 | +€375,151 | +18.8% |
| Deferred charges and accrued income | 490/1 | - | €2,203 | +€2,203 | |
| Total equity and liabilities | 10/49 | €3,905,484 | €4,592,622 | +€687,139 | +17.6% |
| Equity | 10/15 | €2,414,818 | €3,143,450 | +€728,632 | +30.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,394,818 | €3,123,450 | +€728,632 | +30.4% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €92,479 | +€92,479 | |
| Distributable reserves | 133 | €2,382,318 | €3,018,470 | +€636,152 | +26.7% |
| Provisions and deferred taxes | 16 | - | €30,827 | +€30,827 | |
| Deferred taxes | 168 | - | €30,827 | +€30,827 | |
| Amounts payable | 17/49 | €1,490,665 | €1,418,346 | -€72,319 | -4.9% |
| Amounts payable after more than one year | 17 | €512,835 | €512,835 | = | 0.0% |
| Financial debts | 170/4 | €512,835 | €512,835 | = | 0.0% |
| Amounts payable within one year | 42/48 | €952,075 | €856,233 | -€95,842 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €120,000 | +€80,000 | +200% |
| Trade debts | 44 | €50,761 | €42,825 | -€7,937 | -15.6% |
| Suppliers | 440/4 | €50,761 | €42,825 | -€7,937 | -15.6% |
| Advances received on contracts in progress | 46 | €152,510 | €145,010 | -€7,500 | -4.9% |
| Taxes, remuneration and social security | 45 | €437,861 | €459,565 | +€21,705 | +5.0% |
| Taxes | 450/3 | €437,861 | €459,565 | +€21,705 | +5.0% |
| Other amounts payable | 47/48 | €270,943 | €88,833 | -€182,110 | -67.2% |
| Accrued charges and deferred income | 492/3 | €25,755 | €49,278 | +€23,523 | +91.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,398 | €74,636 | -€5,763 | -7.2% |
| Other operating charges | 640/8 | €5,762 | €10,085 | +€4,323 | +75.0% |
| Gross operating margin | 9900 | €898,746 | €1,195,515 | +€296,769 | +33.0% |
| Operating profit (loss) | 9901 | €812,585 | €1,110,794 | +€298,209 | +36.7% |
| Financial income | 75/76B | €46,489 | €94,188 | +€47,699 | +103% |
| Recurring financial income | 75 | €46,489 | €94,188 | +€47,699 | +103% |
| Financial charges | 65/66B | €63,354 | €46,389 | -€16,965 | -26.8% |
| Recurring financial charges | 65 | €63,354 | €46,389 | -€16,965 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €795,720 | €1,158,593 | +€362,873 | +45.6% |
| Transfer to deferred taxes | 680 | - | €30,827 | +€30,827 | |
| Income taxes | 67/77 | €347,046 | €397,134 | +€50,089 | +14.4% |
| Profit (loss) for the period | 9904 | €448,674 | €730,632 | +€281,957 | +62.8% |
| Transfer to tax-exempt reserves | 689 | - | €92,479 | +€92,479 | |
| Profit (loss) for the period to be appropriated | 9905 | €448,674 | €638,152 | +€189,478 | +42.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.