THE CAPITAL: 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 CAPITAL
Largest movements
- Receivables within one year +€9,465
up €9,465 (+508%), from €1,865 to €11,330
- Financial fixed assets -€200
no longer reported in 2025 (was €200)
- Profit (loss) carried forward +€173,961
up €173,961 (+50.8%), from -€342,662 to -€168,702
- Debts after one year -€125,000
no longer reported in 2025 (was €125,000)
- Other debts -€46,440
down €46,440 (-30.8%), from €150,695 to €104,256
- Tax, wage and social debts +€6,891
new in 2025: €6,891
- Trade debts -€237
no longer reported in 2025 (was €237)
- Gross operating margin +€176,062
up €176,062, from -€1,241 to €174,820
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 | €2,101 | €11,342 | +€9,241 | +440% |
| Fixed assets | 21/28 | €200 | - | -€200 | |
| Financial fixed assets | 28 | €200 | - | -€200 | |
| Current assets | 29/58 | €1,901 | €11,342 | +€9,441 | +497% |
| Amounts receivable within one year | 40/41 | €1,865 | €11,330 | +€9,465 | +508% |
| Other amounts receivable | 41 | €1,865 | €11,330 | +€9,465 | +508% |
| Cash at bank and in hand | 54/58 | €37 | €12 | -€25 | -66.7% |
| Total equity and liabilities | 10/49 | €2,101 | €11,342 | +€9,241 | +440% |
| Equity | 10/15 | -€273,831 | -€99,870 | +€173,961 | +63.5% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €232 | €232 | = | 0.0% |
| Non-distributable reserves | 130/1 | €232 | €232 | = | 0.0% |
| Reserves not available under the articles | 1311 | €232 | €232 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€342,662 | -€168,702 | +€173,961 | +50.8% |
| Amounts payable | 17/49 | €275,932 | €111,212 | -€164,720 | -59.7% |
| Amounts payable after more than one year | 17 | €125,000 | - | -€125,000 | |
| Financial debts | 170/4 | €125,000 | - | -€125,000 | |
| Amounts payable within one year | 42/48 | €150,932 | €111,146 | -€39,786 | -26.4% |
| Trade debts | 44 | €237 | - | -€237 | |
| Suppliers | 440/4 | €237 | - | -€237 | |
| Taxes, remuneration and social security | 45 | - | €6,891 | +€6,891 | |
| Taxes | 450/3 | - | €6,891 | +€6,891 | |
| Other amounts payable | 47/48 | €150,695 | €104,256 | -€46,440 | -30.8% |
| Accrued charges and deferred income | 492/3 | - | €66 | +€66 | |
| Other operating charges | 640/8 | €384 | €453 | +€69 | +17.8% |
| Gross operating margin | 9900 | -€1,241 | €174,820 | +€176,062 | |
| Operating profit (loss) | 9901 | -€1,626 | €174,367 | +€175,993 | |
| Financial charges | 65/66B | €389 | €407 | +€18 | +4.5% |
| Recurring financial charges | 65 | €389 | €407 | +€18 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,015 | €173,961 | +€175,976 | |
| Profit (loss) for the period | 9904 | -€2,015 | €173,961 | +€175,976 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,015 | €173,961 | +€175,976 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.