'T VERSCHIL: 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.
'T VERSCHIL
Largest movements
- Receivables within one year +€29,980
up €29,980 (+54291.8%), from €55 to €30,035
- Tangible fixed assets -€12,806
down €12,806 (-8.9%), from €144,525 to €131,719
of which Plant, machinery and equipment: -€8,591
- Cash -€4,732
down €4,732 (-4.9%), from €97,050 to €92,318
mainly Receivables within one year (-€29,980) and Investment in fixed assets (net) (-€10,321)
- Reserves +€27,438
up €27,438 (+15.5%), from €176,527 to €203,965
of which Distributable reserves: +€27,438
- Trade debts -€7,495
down €7,495 (-50.7%), from €14,778 to €7,283
- Debts after one year -€7,000
no longer reported in 2025 (was €7,000)
- Tax, wage and social debts +€4,569
up €4,569 (+36.3%), from €12,589 to €17,158
- Current portion of long-term debt -€4,000
down €4,000 (-33.3%), from €12,000 to €8,000
- Gross operating margin -€7,655
down €7,655 (-10.4%), from €73,654 to €65,999
- Depreciation +€3,364
up €3,364 (+17.0%), from €19,763 to €23,127
- Financial income +€900
new in 2025: €900
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 | €247,682 | €260,916 | +€13,234 | +5.3% |
| Fixed assets | 21/28 | €144,525 | €131,719 | -€12,806 | -8.9% |
| Tangible fixed assets | 22/27 | €144,525 | €131,719 | -€12,806 | -8.9% |
| Land and buildings | 22 | €81,206 | €74,938 | -€6,268 | -7.7% |
| Plant, machinery and equipment | 23 | €47,493 | €38,901 | -€8,591 | -18.1% |
| Furniture and vehicles | 24 | €626 | €331 | -€296 | -47.2% |
| Other tangible fixed assets | 26 | €15,200 | €17,549 | +€2,350 | +15.5% |
| Current assets | 29/58 | €103,157 | €129,197 | +€26,040 | +25.2% |
| Stocks and contracts in progress | 3 | €6,051 | €6,844 | +€793 | +13.1% |
| Stocks | 30/36 | €6,051 | €6,844 | +€793 | +13.1% |
| Amounts receivable within one year | 40/41 | €55 | €30,035 | +€29,980 | +54291.8% |
| Other amounts receivable | 41 | €55 | €30,035 | +€29,980 | +54291.8% |
| Cash at bank and in hand | 54/58 | €97,050 | €92,318 | -€4,732 | -4.9% |
| Total equity and liabilities | 10/49 | €247,682 | €260,916 | +€13,234 | +5.3% |
| Equity | 10/15 | €201,037 | €228,475 | +€27,438 | +13.6% |
| Contributions | 10/11 | €24,510 | €24,510 | = | 0.0% |
| Contributions outside capital | 11 | €24,510 | €24,510 | = | 0.0% |
| Other | 1109/19 | €24,510 | €24,510 | = | 0.0% |
| Reserves | 13 | €176,527 | €203,965 | +€27,438 | +15.5% |
| Tax-exempt reserves | 132 | €51,250 | €51,250 | = | 0.0% |
| Distributable reserves | 133 | €125,277 | €152,715 | +€27,438 | +21.9% |
| Amounts payable | 17/49 | €46,644 | €32,441 | -€14,203 | -30.4% |
| Amounts payable after more than one year | 17 | €7,000 | - | -€7,000 | |
| Financial debts | 170/4 | €7,000 | - | -€7,000 | |
| Amounts payable within one year | 42/48 | €39,644 | €32,441 | -€7,203 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €8,000 | -€4,000 | -33.3% |
| Trade debts | 44 | €14,778 | €7,283 | -€7,495 | -50.7% |
| Suppliers | 440/4 | €14,778 | €7,283 | -€7,495 | -50.7% |
| Taxes, remuneration and social security | 45 | €12,589 | €17,158 | +€4,569 | +36.3% |
| Taxes | 450/3 | €12,589 | €17,158 | +€4,569 | +36.3% |
| Other amounts payable | 47/48 | €278 | - | -€278 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,763 | €23,127 | +€3,364 | +17.0% |
| Other operating charges | 640/8 | €3,778 | €4,200 | +€422 | +11.2% |
| Gross operating margin | 9900 | €73,654 | €65,999 | -€7,655 | -10.4% |
| Operating profit (loss) | 9901 | €50,113 | €38,672 | -€11,441 | -22.8% |
| Financial income | 75/76B | - | €900 | +€900 | |
| Recurring financial income | 75 | - | €900 | +€900 | |
| Financial charges | 65/66B | €1,191 | €699 | -€493 | -41.3% |
| Recurring financial charges | 65 | €1,191 | €699 | -€493 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €48,921 | €38,873 | -€10,049 | -20.5% |
| Income taxes | 67/77 | €11,691 | €11,435 | -€256 | -2.2% |
| Profit (loss) for the period | 9904 | €37,230 | €27,438 | -€9,792 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,230 | €27,438 | -€9,792 | -26.3% |
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 10 October 2026 via checked.be.