SYSTEMATICS: 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.
SYSTEMATICS
Largest movements
- Cash -€447,259
down €447,259 (-78.1%), from €572,479 to €125,219
mainly Current investments (-€400,000) and Net result for the year (-€37,804)
- Current investments +€400,000
new in 2025: €400,000
- Receivables within one year +€18,449
up €18,449 (+96.1%), from €19,202 to €37,652
of which Other amounts receivable: +€19,163
- Tangible fixed assets -€16,823
down €16,823 (-3.6%), from €470,159 to €453,336
of which Land and buildings: -€8,801
- Deferred charges and accrued income +€11,688
up €11,688 (+1,197%), from €976 to €12,664
- Reserves -€37,804
down €37,804 (-3.5%), from €1.1m to €1.0m
of which Distributable reserves: -€37,804
- Gross operating margin +€21,029
up €21,029 (+43.4%), from -€48,463 to -€27,434
- Financial income -€7,031
down €7,031 (-37.4%), from €18,821 to €11,790
- Depreciation -€777
down €777 (-4.0%), from €19,550 to €18,774
- Other operating charges -€595
down €595 (-16.8%), from €3,547 to €2,952
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 | €1,089,340 | €1,055,958 | -€33,381 | -3.1% |
| Fixed assets | 21/28 | €473,683 | €455,982 | -€17,700 | -3.7% |
| Intangible fixed assets | 21 | €3,523 | €2,646 | -€877 | -24.9% |
| Tangible fixed assets | 22/27 | €470,159 | €453,336 | -€16,823 | -3.6% |
| Land and buildings | 22 | €262,309 | €253,509 | -€8,801 | -3.4% |
| Furniture and vehicles | 24 | €24,410 | €16,387 | -€8,023 | -32.9% |
| Other tangible fixed assets | 26 | €183,440 | €183,440 | = | 0.0% |
| Current assets | 29/58 | €615,657 | €599,976 | -€15,681 | -2.5% |
| Amounts receivable after more than one year | 29 | €23,000 | €23,000 | = | 0.0% |
| Other amounts receivable | 291 | €23,000 | €23,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €1,441 | +€1,441 | |
| Stocks | 30/36 | - | €1,441 | +€1,441 | |
| Amounts receivable within one year | 40/41 | €19,202 | €37,652 | +€18,449 | +96.1% |
| Trade receivables | 40 | €714 | - | -€714 | |
| Other amounts receivable | 41 | €18,489 | €37,652 | +€19,163 | +104% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €572,479 | €125,219 | -€447,259 | -78.1% |
| Deferred charges and accrued income | 490/1 | €976 | €12,664 | +€11,688 | +1,197% |
| Total equity and liabilities | 10/49 | €1,089,340 | €1,055,958 | -€33,381 | -3.1% |
| Equity | 10/15 | €1,085,421 | €1,047,617 | -€37,804 | -3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,066,821 | €1,029,017 | -€37,804 | -3.5% |
| Non-distributable reserves | 130/1 | €19,109 | €19,109 | = | 0.0% |
| Other | 1319 | €19,109 | €19,109 | = | 0.0% |
| Distributable reserves | 133 | €1,047,712 | €1,009,908 | -€37,804 | -3.6% |
| Amounts payable | 17/49 | €3,919 | €8,342 | +€4,423 | +113% |
| Amounts payable within one year | 42/48 | €3,919 | €4,934 | +€1,015 | +25.9% |
| Trade debts | 44 | €3,919 | €4,934 | +€1,015 | +25.9% |
| Suppliers | 440/4 | €3,919 | €4,934 | +€1,015 | +25.9% |
| Accrued charges and deferred income | 492/3 | - | €3,408 | +€3,408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,550 | €18,774 | -€777 | -4.0% |
| Other operating charges | 640/8 | €3,547 | €2,952 | -€595 | -16.8% |
| Non-recurring operating charges | 66A | €20,502 | - | -€20,502 | |
| Gross operating margin | 9900 | -€48,463 | -€27,434 | +€21,029 | +43.4% |
| Operating profit (loss) | 9901 | -€92,062 | -€49,160 | +€42,902 | +46.6% |
| Financial income | 75/76B | €18,821 | €11,790 | -€7,031 | -37.4% |
| Recurring financial income | 75 | €18,821 | €11,790 | -€7,031 | -37.4% |
| Financial charges | 65/66B | €143 | €94 | -€48 | -33.8% |
| Recurring financial charges | 65 | €143 | €94 | -€48 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | -€73,384 | -€37,465 | +€35,919 | +48.9% |
| Income taxes | 67/77 | €331 | €340 | +€9 | +2.6% |
| Profit (loss) for the period | 9904 | -€73,715 | -€37,804 | +€35,911 | +48.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,715 | -€37,804 | +€35,911 | +48.7% |
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 15 October 2026 via checked.be.