THE FABRIC: 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 FABRIC
Largest movements
- Receivables within one year -€168,937
down €168,937 (-28.2%), from €598,195 to €429,258
of which Trade receivables: -€104,939
- Cash +€155,950
up €155,950 (+17.8%), from €876,731 to €1.0m
mainly Net result for the year (+€710,248) and Receivables within one year (+€168,937)
- Stocks and contracts -€49,227
down €49,227 (-8.3%), from €594,903 to €545,675
- Tangible fixed assets -€26,641
down €26,641 (-11.7%), from €227,343 to €200,703
of which Other tangible fixed assets: -€31,956
- Other debts +€150,886
up €150,886 (+28.8%), from €524,738 to €675,624
- Advances received -€104,436
down €104,436 (-20.7%), from €503,430 to €398,994
- Tax, wage and social debts -€103,234
down €103,234 (-48.2%), from €214,088 to €110,855
of which Taxes: -€98,392
- Trade debts -€43,168
down €43,168 (-29.8%), from €144,911 to €101,743
- Reserves +€34,824
up €34,824 (+4.0%), from €869,468 to €904,292
- Staff costs +€57,615
up €57,615 (+14.1%), from €407,402 to €465,017
- Gross operating margin -€50,352
down €50,352 (-3.3%), from €1.5m to €1.5m
- Taxes -€30,012
down €30,012 (-11.2%), from €268,064 to €238,053
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 | €2,299,218 | €2,218,440 | -€80,778 | -3.5% |
| Fixed assets | 21/28 | €227,343 | €200,703 | -€26,641 | -11.7% |
| Tangible fixed assets | 22/27 | €227,343 | €200,703 | -€26,641 | -11.7% |
| Land and buildings | 22 | €11,402 | €9,976 | -€1,426 | -12.5% |
| Plant, machinery and equipment | 23 | €8,529 | €5,169 | -€3,360 | -39.4% |
| Furniture and vehicles | 24 | €79,074 | €89,175 | +€10,101 | +12.8% |
| Other tangible fixed assets | 26 | €128,338 | €96,382 | -€31,956 | -24.9% |
| Current assets | 29/58 | €2,071,875 | €2,017,737 | -€54,138 | -2.6% |
| Stocks and contracts in progress | 3 | €594,903 | €545,675 | -€49,227 | -8.3% |
| Stocks | 30/36 | €594,903 | €545,675 | -€49,227 | -8.3% |
| Amounts receivable within one year | 40/41 | €598,195 | €429,258 | -€168,937 | -28.2% |
| Trade receivables | 40 | €448,476 | €343,536 | -€104,939 | -23.4% |
| Other amounts receivable | 41 | €149,719 | €85,722 | -€63,998 | -42.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €876,731 | €1,032,681 | +€155,950 | +17.8% |
| Deferred charges and accrued income | 490/1 | €2,047 | €10,123 | +€8,076 | +395% |
| Total equity and liabilities | 10/49 | €2,299,218 | €2,218,440 | -€80,778 | -3.5% |
| Equity | 10/15 | €888,068 | €922,892 | +€34,824 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €869,468 | €904,292 | +€34,824 | +4.0% |
| Distributable reserves | 133 | €869,468 | €904,292 | +€34,824 | +4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,411,150 | €1,295,548 | -€115,602 | -8.2% |
| Amounts payable after more than one year | 17 | €8,333 | €3,333 | -€5,000 | -60.0% |
| Financial debts | 170/4 | €8,333 | €3,333 | -€5,000 | -60.0% |
| Amounts payable within one year | 42/48 | €1,392,167 | €1,292,216 | -€99,952 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €144,911 | €101,743 | -€43,168 | -29.8% |
| Suppliers | 440/4 | €144,911 | €101,743 | -€43,168 | -29.8% |
| Advances received on contracts in progress | 46 | €503,430 | €398,994 | -€104,436 | -20.7% |
| Taxes, remuneration and social security | 45 | €214,088 | €110,855 | -€103,234 | -48.2% |
| Taxes | 450/3 | €195,914 | €97,521 | -€98,392 | -50.2% |
| Remuneration and social security | 454/9 | €18,175 | €13,333 | -€4,841 | -26.6% |
| Other amounts payable | 47/48 | €524,738 | €675,624 | +€150,886 | +28.8% |
| Accrued charges and deferred income | 492/3 | €10,650 | €0 | -€10,650 | -100% |
| Non-recurring operating income | 76A | €6,936 | €0 | -€6,936 | -100% |
| Remuneration, social security and pensions | 62 | €407,402 | €465,017 | +€57,615 | +14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,520 | €62,665 | +€11,145 | +21.6% |
| Other operating charges | 640/8 | €3,613 | €2,739 | -€874 | -24.2% |
| Gross operating margin | 9900 | €1,516,170 | €1,465,817 | -€50,352 | -3.3% |
| Operating profit (loss) | 9901 | €1,053,634 | €935,396 | -€118,239 | -11.2% |
| Financial income | 75/76B | €13,936 | €16,078 | +€2,143 | +15.4% |
| Recurring financial income | 75 | €13,936 | €16,078 | +€2,143 | +15.4% |
| Financial charges | 65/66B | €16,693 | €3,174 | -€13,519 | -81.0% |
| Recurring financial charges | 65 | €16,693 | €3,174 | -€13,519 | -81.0% |
| Profit (loss) for the period before taxes | 9903 | €1,050,877 | €948,300 | -€102,577 | -9.8% |
| Income taxes | 67/77 | €268,064 | €238,053 | -€30,012 | -11.2% |
| Profit (loss) for the period | 9904 | €782,813 | €710,248 | -€72,565 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €782,813 | €710,248 | -€72,565 | -9.3% |
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 27 October 2026 via checked.be.