SWITCH UP: 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.
SWITCH UP
Largest movements
- Receivables within one year +€7,858
up €7,858 (+53.8%), from €14,612 to €22,470
of which Trade receivables: +€9,096
- Tangible fixed assets -€2,638
down €2,638 (-22.3%), from €11,808 to €9,169
of which Furniture and vehicles: -€8,765
- Other debts +€7,613
up €7,613 (+34.7%), from €21,915 to €29,528
- Reserves +€7,270
up €7,270 (+12.0%), from €60,635 to €67,905
- Tax, wage and social debts -€5,136
down €5,136 (-48.6%), from €10,557 to €5,422
of which Taxes: -€2,836
- Current portion of long-term debt -€4,629
down €4,629 (-74.7%), from €6,195 to €1,567
- Debts after one year -€1,567
no longer reported in 2025 (was €1,567)
- Gross operating margin -€6,313
down €6,313 (-19.2%), from €32,896 to €26,583
- Taxes -€1,823
down €1,823 (-27.0%), from €6,752 to €4,929
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 | €107,112 | €111,706 | +€4,594 | +4.3% |
| Fixed assets | 21/28 | €11,833 | €9,194 | -€2,638 | -22.3% |
| Tangible fixed assets | 22/27 | €11,808 | €9,169 | -€2,638 | -22.3% |
| Plant, machinery and equipment | 23 | €606 | €1,232 | +€626 | +103.4% |
| Furniture and vehicles | 24 | €11,202 | €2,437 | -€8,765 | -78.2% |
| Other tangible fixed assets | 26 | - | €5,500 | +€5,500 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €95,279 | €102,511 | +€7,232 | +7.6% |
| Amounts receivable within one year | 40/41 | €14,612 | €22,470 | +€7,858 | +53.8% |
| Trade receivables | 40 | €11,905 | €21,002 | +€9,096 | +76.4% |
| Other amounts receivable | 41 | €2,707 | €1,468 | -€1,239 | -45.8% |
| Cash at bank and in hand | 54/58 | €80,010 | €79,261 | -€749 | -0.9% |
| Deferred charges and accrued income | 490/1 | €657 | €781 | +€124 | +18.8% |
| Total equity and liabilities | 10/49 | €107,112 | €111,706 | +€4,594 | +4.3% |
| Equity | 10/15 | €63,848 | €71,202 | +€7,354 | +11.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €60,635 | €67,905 | +€7,270 | +12.0% |
| Distributable reserves | 133 | €60,635 | €67,905 | +€7,270 | +12.0% |
| Profit (loss) carried forward | 14 | -€2,987 | -€2,903 | +€84 | +2.8% |
| Amounts payable | 17/49 | €43,264 | €40,504 | -€2,760 | -6.4% |
| Amounts payable after more than one year | 17 | €1,567 | - | -€1,567 | |
| Financial debts | 170/4 | €1,567 | - | -€1,567 | |
| Amounts payable within one year | 42/48 | €41,697 | €40,504 | -€1,193 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €6,195 | €1,567 | -€4,629 | -74.7% |
| Trade debts | 44 | €3,030 | €3,988 | +€958 | +31.6% |
| Suppliers | 440/4 | €3,030 | €3,988 | +€958 | +31.6% |
| Taxes, remuneration and social security | 45 | €10,557 | €5,422 | -€5,136 | -48.6% |
| Taxes | 450/3 | €8,257 | €5,422 | -€2,836 | -34.3% |
| Remuneration and social security | 454/9 | €2,300 | - | -€2,300 | |
| Other amounts payable | 47/48 | €21,915 | €29,528 | +€7,613 | +34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,383 | €9,193 | -€190 | -2.0% |
| Other operating charges | 640/8 | €406 | €277 | -€130 | -31.9% |
| Gross operating margin | 9900 | €32,896 | €26,583 | -€6,313 | -19.2% |
| Operating profit (loss) | 9901 | €23,107 | €17,114 | -€5,993 | -25.9% |
| Financial charges | 65/66B | €411 | €301 | -€109 | -26.6% |
| Recurring financial charges | 65 | €411 | €301 | -€109 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €22,696 | €16,812 | -€5,884 | -25.9% |
| Income taxes | 67/77 | €6,752 | €4,929 | -€1,823 | -27.0% |
| Profit (loss) for the period | 9904 | €15,944 | €11,884 | -€4,060 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,944 | €11,884 | -€4,060 | -25.5% |
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 11 October 2026 via checked.be.