TACTICAL SKILLS: 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.
TACTICAL SKILLS
Largest movements
- Receivables within one year +€115,002
up €115,002 (+89.0%), from €129,199 to €244,201
of which Trade receivables: +€120,781
- Cash -€64,735
down €64,735 (-89.5%), from €72,330 to €7,595
mainly Receivables within one year (-€115,002) and Investment in fixed assets (net) (-€25,869)
- Intangible fixed assets +€7,853
up €7,853 (+266%), from €2,950 to €10,803
- Deferred charges and accrued income +€7,841
up €7,841 (+65.1%), from €12,047 to €19,888
- Trade debts +€71,440
up €71,440 (+86.2%), from €82,915 to €154,355
- Other debts +€34,036
up €34,036 (+76.1%), from €44,752 to €78,788
- Debts after one year -€18,720
down €18,720 (-5.6%), from €334,793 to €316,073
- Current portion of long-term debt -€12,672
down €12,672 (-37.5%), from €33,768 to €21,096
- Profit (loss) carried forward +€7,398
up €7,398 (+19.5%), from -€38,019 to -€30,621
- Gross operating margin -€35,000
down €35,000 (-45.8%), from €76,375 to €41,374
- Depreciation -€25,025
down €25,025 (-54.7%), from €45,712 to €20,688
- Staff costs -€18,875
down €18,875 (-98.4%), from €19,181 to €306
- Taxes +€6,099
up €6,099 (+207%), from €2,940 to €9,039
- Financial charges +€5,981
up €5,981 (+112%), from €5,345 to €11,326
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 | €628,474 | €691,763 | +€63,289 | +10.1% |
| Fixed assets | 21/28 | €399,897 | €405,079 | +€5,181 | +1.3% |
| Intangible fixed assets | 21 | €2,950 | €10,803 | +€7,853 | +266% |
| Tangible fixed assets | 22/27 | €396,725 | €394,053 | -€2,672 | -0.7% |
| Land and buildings | 22 | €394,799 | €393,123 | -€1,676 | -0.4% |
| Furniture and vehicles | 24 | €1,926 | €929 | -€996 | -51.7% |
| Financial fixed assets | 28 | €223 | €223 | = | 0.0% |
| Current assets | 29/58 | €228,576 | €286,684 | +€58,108 | +25.4% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €129,199 | €244,201 | +€115,002 | +89.0% |
| Trade receivables | 40 | €80,021 | €200,802 | +€120,781 | +151% |
| Other amounts receivable | 41 | €49,178 | €43,399 | -€5,779 | -11.8% |
| Cash at bank and in hand | 54/58 | €72,330 | €7,595 | -€64,735 | -89.5% |
| Deferred charges and accrued income | 490/1 | €12,047 | €19,888 | +€7,841 | +65.1% |
| Total equity and liabilities | 10/49 | €628,474 | €691,763 | +€63,289 | +10.1% |
| Equity | 10/15 | €79,877 | €80,568 | +€691 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €111,696 | €104,989 | -€6,707 | -6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,586 | €100,879 | -€6,707 | -6.2% |
| Distributable reserves | 133 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,019 | -€30,621 | +€7,398 | +19.5% |
| Provisions and deferred taxes | 16 | €35,868 | €33,633 | -€2,236 | -6.2% |
| Deferred taxes | 168 | €35,868 | €33,633 | -€2,236 | -6.2% |
| Amounts payable | 17/49 | €512,728 | €577,562 | +€64,834 | +12.6% |
| Amounts payable after more than one year | 17 | €334,793 | €316,073 | -€18,720 | -5.6% |
| Financial debts | 170/4 | €334,793 | €316,073 | -€18,720 | -5.6% |
| Amounts payable within one year | 42/48 | €176,015 | €261,489 | +€85,473 | +48.6% |
| Current portion of amounts payable after more than one year | 42 | €33,768 | €21,096 | -€12,672 | -37.5% |
| Trade debts | 44 | €82,915 | €154,355 | +€71,440 | +86.2% |
| Suppliers | 440/4 | €82,915 | €154,355 | +€71,440 | +86.2% |
| Taxes, remuneration and social security | 45 | €14,581 | €7,250 | -€7,331 | -50.3% |
| Taxes | 450/3 | €4,598 | €7,250 | +€2,652 | +57.7% |
| Remuneration and social security | 454/9 | €9,983 | - | -€9,983 | |
| Other amounts payable | 47/48 | €44,752 | €78,788 | +€34,036 | +76.1% |
| Accrued charges and deferred income | 492/3 | €1,920 | - | -€1,920 | |
| Remuneration, social security and pensions | 62 | €19,181 | €306 | -€18,875 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,712 | €20,688 | -€25,025 | -54.7% |
| Other operating charges | 640/8 | €4,841 | €2,163 | -€2,678 | -55.3% |
| Gross operating margin | 9900 | €76,375 | €41,374 | -€35,000 | -45.8% |
| Operating profit (loss) | 9901 | €6,640 | €18,217 | +€11,577 | +174% |
| Financial income | 75/76B | €558 | €603 | +€46 | +8.2% |
| Recurring financial income | 75 | €558 | €603 | +€46 | +8.2% |
| Financial charges | 65/66B | €5,345 | €11,326 | +€5,981 | +112% |
| Recurring financial charges | 65 | €5,345 | €11,326 | +€5,981 | +112% |
| Profit (loss) for the period before taxes | 9903 | €1,853 | €7,494 | +€5,642 | +305% |
| Transfer from deferred taxes | 780 | €2,319 | €2,236 | -€83 | -3.6% |
| Income taxes | 67/77 | €2,940 | €9,039 | +€6,099 | +207% |
| Profit (loss) for the period | 9904 | €1,231 | €691 | -€540 | -43.9% |
| Transfer from tax-exempt reserves | 789 | €6,956 | - | -€6,956 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,187 | €691 | -€7,496 | -91.6% |
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 30 October 2026 via checked.be.