THE BRIDGE: 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.
THE BRIDGE
Largest movements
- Receivables after one year -€271,895
down €271,895 (-94.9%), from €286,415 to €14,520
- Receivables within one year -€108,031
down €108,031 (-13.0%), from €832,202 to €724,171
of which Trade receivables: -€139,002
- Stocks and contracts +€22,000
new in 2025: €22,000
- Advances received -€507,033
down €507,033 (-100.0%), from €507,061 to €28
- Debts after one year +€222,588
up €222,588 (+62.2%), from €357,971 to €580,559
- Trade debts -€108,270
down €108,270 (-20.2%), from €536,421 to €428,150
- Tax, wage and social debts +€24,068
up €24,068 (+23.9%), from €100,854 to €124,922
of which Taxes: +€22,793
- Gross operating margin -€68,884
down €68,884 (-10.2%), from €673,765 to €604,881
- Depreciation -€33,521
down €33,521 (-7.6%), from €439,219 to €405,698
- Financial income +€31,692
up €31,692 (+137,792%), from €23 to €31,715
- Staff costs -€29,517
down €29,517 (-15.8%), from €186,389 to €156,872
- Financial charges +€13,429
up €13,429 (+46.1%), from €29,115 to €42,544
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 | €1,717,883 | €1,370,581 | -€347,302 | -20.2% |
| Fixed assets | 21/28 | €598,720 | €600,608 | +€1,887 | +0.3% |
| Tangible fixed assets | 22/27 | €598,370 | €599,908 | +€1,537 | +0.3% |
| Plant, machinery and equipment | 23 | €491,625 | €513,477 | +€21,852 | +4.4% |
| Furniture and vehicles | 24 | €3,270 | €1,437 | -€1,833 | -56.1% |
| Other tangible fixed assets | 26 | €103,475 | €84,994 | -€18,481 | -17.9% |
| Financial fixed assets | 28 | €350 | €700 | +€350 | +100% |
| Current assets | 29/58 | €1,119,163 | €769,974 | -€349,189 | -31.2% |
| Amounts receivable after more than one year | 29 | €286,415 | €14,520 | -€271,895 | -94.9% |
| Other amounts receivable | 291 | €286,415 | €14,520 | -€271,895 | -94.9% |
| Stocks and contracts in progress | 3 | - | €22,000 | +€22,000 | |
| Stocks | 30/36 | - | €22,000 | +€22,000 | |
| Amounts receivable within one year | 40/41 | €832,202 | €724,171 | -€108,031 | -13.0% |
| Trade receivables | 40 | €795,898 | €656,896 | -€139,002 | -17.5% |
| Other amounts receivable | 41 | €36,304 | €67,275 | +€30,971 | +85.3% |
| Cash at bank and in hand | 54/58 | €99 | €626 | +€527 | +532% |
| Deferred charges and accrued income | 490/1 | €447 | €8,657 | +€8,210 | +1,835% |
| Total equity and liabilities | 10/49 | €1,717,883 | €1,370,581 | -€347,302 | -20.2% |
| Equity | 10/15 | €214,422 | €223,099 | +€8,677 | +4.0% |
| Contributions | 10/11 | €41,781 | €41,781 | = | 0.0% |
| Reserves | 13 | €172,642 | €181,319 | +€8,677 | +5.0% |
| Non-distributable reserves | 130/1 | €5,579 | €5,579 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,579 | €5,579 | = | 0.0% |
| Distributable reserves | 133 | €167,062 | €175,740 | +€8,677 | +5.2% |
| Amounts payable | 17/49 | €1,503,461 | €1,147,482 | -€355,979 | -23.7% |
| Amounts payable after more than one year | 17 | €357,971 | €580,559 | +€222,588 | +62.2% |
| Financial debts | 170/4 | €357,971 | €580,559 | +€222,588 | +62.2% |
| Amounts payable within one year | 42/48 | €1,144,336 | €565,769 | -€578,567 | -50.6% |
| Trade debts | 44 | €536,421 | €428,150 | -€108,270 | -20.2% |
| Suppliers | 440/4 | €536,421 | €428,150 | -€108,270 | -20.2% |
| Advances received on contracts in progress | 46 | €507,061 | €28 | -€507,033 | -100.0% |
| Taxes, remuneration and social security | 45 | €100,854 | €124,922 | +€24,068 | +23.9% |
| Taxes | 450/3 | €38,635 | €61,428 | +€22,793 | +59.0% |
| Remuneration and social security | 454/9 | €62,219 | €63,494 | +€1,275 | +2.0% |
| Other amounts payable | 47/48 | - | €12,669 | +€12,669 | |
| Accrued charges and deferred income | 492/3 | €1,154 | €1,154 | = | 0.0% |
| Non-recurring operating income | 76A | €370,172 | - | -€370,172 | |
| Remuneration, social security and pensions | 62 | €186,389 | €156,872 | -€29,517 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €439,219 | €405,698 | -€33,521 | -7.6% |
| Other operating charges | 640/8 | €4,659 | €17,338 | +€12,679 | +272% |
| Non-recurring operating charges | 66A | €184 | - | -€184 | |
| Gross operating margin | 9900 | €673,765 | €604,881 | -€68,884 | -10.2% |
| Operating profit (loss) | 9901 | €43,316 | €24,974 | -€18,341 | -42.3% |
| Financial income | 75/76B | €23 | €31,715 | +€31,692 | +137,792% |
| Recurring financial income | 75 | €23 | €31,715 | +€31,692 | +137,792% |
| Financial charges | 65/66B | €29,115 | €42,544 | +€13,429 | +46.1% |
| Recurring financial charges | 65 | €29,115 | €42,544 | +€13,429 | +46.1% |
| Profit (loss) for the period before taxes | 9903 | €14,223 | €14,145 | -€78 | -0.5% |
| Income taxes | 67/77 | €5,625 | €5,468 | -€156 | -2.8% |
| Profit (loss) for the period | 9904 | €8,598 | €8,677 | +€79 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,598 | €8,677 | +€79 | +0.9% |
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 16 October 2026 via checked.be.