't Aandeel: what changed
't Aandeel
Largest movements
- Cash -€82,944
down €82,944 (-54.0%), from €153,551 to €70,607
mainly Trade debts (-€67,639) and Contributions, distributions and other (-€65,000)
- Receivables within one year -€10,676
down €10,676 (-11.8%), from €90,458 to €79,782
- Tangible fixed assets -€8,360
down €8,360 (-26.9%), from €31,046 to €22,686
of which Furniture and vehicles: -€8,350
- Deferred charges and accrued income +€7,610
new in 2025: €7,610
- Trade debts -€67,639
down €67,639 (-90.6%), from €74,697 to €7,058
- Other debts +€67,136
up €67,136 (+112%), from €60,106 to €127,241
- Reserves -€65,000
down €65,000 (-49.9%), from €130,272 to €65,272
of which Distributable reserves: -€65,000
- Profit (loss) carried forward -€19,930
down €19,930 (-15.0%), from €132,503 to €112,572
- Debts after one year -€6,049
no longer reported in 2025 (was €6,049)
- Other operating charges +€5,414
up €5,414 (+258%), from €2,099 to €7,514
- Financial income +€3,369
up €3,369 (+106%), from €3,182 to €6,551
- Gross operating margin +€2,475
up €2,475 (+3.6%), from €68,773 to €71,248
- Staff costs -€1,271
down €1,271 (-1.7%), from €75,204 to €73,933
- Taxes -€1,162
down €1,162 (-53.5%), from €2,173 to €1,011
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €458,971 | €364,490 | -€94,481 | -20.6% |
| Fixed assets | 21/28 | €31,046 | €22,686 | -€8,360 | -26.9% |
| Tangible fixed assets | 22/27 | €31,046 | €22,686 | -€8,360 | -26.9% |
| Plant, machinery and equipment | 23 | €9,465 | €9,456 | -€9 | -0.1% |
| Furniture and vehicles | 24 | €21,580 | €13,230 | -€8,350 | -38.7% |
| Current assets | 29/58 | €427,926 | €341,804 | -€86,122 | -20.1% |
| Amounts receivable after more than one year | 29 | €137,000 | €137,000 | = | 0.0% |
| Other amounts receivable | 291 | €137,000 | €137,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €46,918 | €46,805 | -€113 | -0.2% |
| Stocks | 30/36 | €46,918 | €46,805 | -€113 | -0.2% |
| Amounts receivable within one year | 40/41 | €90,458 | €79,782 | -€10,676 | -11.8% |
| Other amounts receivable | 41 | €90,458 | €79,782 | -€10,676 | -11.8% |
| Cash at bank and in hand | 54/58 | €153,551 | €70,607 | -€82,944 | -54.0% |
| Deferred charges and accrued income | 490/1 | - | €7,610 | +€7,610 | |
| Total equity and liabilities | 10/49 | €458,971 | €364,490 | -€94,481 | -20.6% |
| Equity | 10/15 | €291,995 | €207,064 | -€84,930 | -29.1% |
| Contributions | 10/11 | €29,220 | €29,220 | = | 0.0% |
| Reserves | 13 | €130,272 | €65,272 | -€65,000 | -49.9% |
| Tax-exempt reserves | 132 | €30,750 | €30,750 | = | 0.0% |
| Distributable reserves | 133 | €99,522 | €34,522 | -€65,000 | -65.3% |
| Profit (loss) carried forward | 14 | €132,503 | €112,572 | -€19,930 | -15.0% |
| Amounts payable | 17/49 | €166,977 | €157,426 | -€9,551 | -5.7% |
| Amounts payable after more than one year | 17 | €6,049 | - | -€6,049 | |
| Financial debts | 170/4 | €6,049 | - | -€6,049 | |
| Amounts payable within one year | 42/48 | €160,928 | €157,426 | -€3,502 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €9,171 | €5,950 | -€3,221 | -35.1% |
| Financial debts | 43 | €2,251 | €3,000 | +€749 | +33.2% |
| Credit institutions | 430/8 | €2,251 | €3,000 | +€749 | +33.2% |
| Trade debts | 44 | €74,697 | €7,058 | -€67,639 | -90.6% |
| Suppliers | 440/4 | €74,697 | €7,058 | -€67,639 | -90.6% |
| Taxes, remuneration and social security | 45 | €14,703 | €14,176 | -€527 | -3.6% |
| Taxes | 450/3 | €7,126 | €10,343 | +€3,217 | +45.1% |
| Remuneration and social security | 454/9 | €7,577 | €3,834 | -€3,743 | -49.4% |
| Other amounts payable | 47/48 | €60,106 | €127,241 | +€67,136 | +112% |
| Remuneration, social security and pensions | 62 | €75,204 | €73,933 | -€1,271 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,075 | €13,320 | +€245 | +1.9% |
| Other operating charges | 640/8 | €2,099 | €7,514 | +€5,414 | +258% |
| Non-recurring operating charges | 66A | €1,211 | - | -€1,211 | |
| Gross operating margin | 9900 | €68,773 | €71,248 | +€2,475 | +3.6% |
| Operating profit (loss) | 9901 | -€22,816 | -€23,518 | -€702 | -3.1% |
| Financial income | 75/76B | €3,182 | €6,551 | +€3,369 | +106% |
| Recurring financial income | 75 | €3,182 | €6,551 | +€3,369 | +106% |
| Financial charges | 65/66B | €1,383 | €1,953 | +€569 | +41.2% |
| Recurring financial charges | 65 | €1,383 | €1,953 | +€569 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | -€21,017 | -€18,920 | +€2,098 | +10.0% |
| Income taxes | 67/77 | €2,173 | €1,011 | -€1,162 | -53.5% |
| Profit (loss) for the period | 9904 | -€23,191 | -€19,930 | +€3,260 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,191 | -€19,930 | +€3,260 | +14.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.