THE SALES REF: what changed
Two fiscal 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 SALES REF
Largest movements
- Tangible fixed assets +€57,543
up €57,543 (+11143.9%), from €516 to €58,059
of which Furniture and vehicles: +€57,716
- Cash +€26,994
up €26,994 (+75.1%), from €35,936 to €62,930
mainly Net result for the year (+€68,930) and Current investments (+€20,000)
- Current investments -€20,000
down €20,000 (-5.7%), from €350,000 to €330,000
- Reserves +€69,000
up €69,000 (+18.2%), from €378,300 to €447,300
- Other debts -€5,000
down €5,000 (-40.4%), from €12,389 to €7,389
- Gross operating margin -€8,390
down €8,390 (-7.6%), from €110,567 to €102,177
- Depreciation +€6,315
up €6,315 (+3642.3%), from €173 to €6,489
- Financial income +€6,207
new in 2025: €6,207
- Taxes -€2,709
down €2,709 (-7.7%), from €35,178 to €32,468
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 | €400,674 | €465,197 | +€64,523 | +16.1% |
| Fixed assets | 21/28 | €516 | €58,059 | +€57,543 | +11143.9% |
| Tangible fixed assets | 22/27 | €516 | €58,059 | +€57,543 | +11143.9% |
| Plant, machinery and equipment | 23 | €516 | €343 | -€173 | -33.6% |
| Furniture and vehicles | 24 | - | €57,716 | +€57,716 | |
| Current assets | 29/58 | €400,157 | €407,138 | +€6,980 | +1.7% |
| Amounts receivable within one year | 40/41 | €14,222 | €14,208 | -€14 | -0.1% |
| Trade receivables | 40 | €14,222 | €14,208 | -€14 | -0.1% |
| Current investments | 50/53 | €350,000 | €330,000 | -€20,000 | -5.7% |
| Cash at bank and in hand | 54/58 | €35,936 | €62,930 | +€26,994 | +75.1% |
| Total equity and liabilities | 10/49 | €400,674 | €465,197 | +€64,523 | +16.1% |
| Equity | 10/15 | €379,884 | €448,815 | +€68,930 | +18.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €378,300 | €447,300 | +€69,000 | +18.2% |
| Distributable reserves | 133 | €378,300 | €447,300 | +€69,000 | +18.2% |
| Profit (loss) carried forward | 14 | €84 | €15 | -€70 | -82.6% |
| Amounts payable | 17/49 | €20,789 | €16,382 | -€4,407 | -21.2% |
| Amounts payable within one year | 42/48 | €20,789 | €16,382 | -€4,407 | -21.2% |
| Trade debts | 44 | €599 | €313 | -€285 | -47.7% |
| Suppliers | 440/4 | €599 | €313 | -€285 | -47.7% |
| Taxes, remuneration and social security | 45 | €7,801 | €8,679 | +€878 | +11.3% |
| Taxes | 450/3 | €7,801 | €8,679 | +€878 | +11.3% |
| Other amounts payable | 47/48 | €12,389 | €7,389 | -€5,000 | -40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173 | €6,489 | +€6,315 | +3642.3% |
| Other operating charges | 640/8 | €384 | €453 | +€69 | +17.8% |
| Gross operating margin | 9900 | €110,567 | €102,177 | -€8,390 | -7.6% |
| Operating profit (loss) | 9901 | €110,009 | €95,235 | -€14,774 | -13.4% |
| Financial income | 75/76B | - | €6,207 | +€6,207 | |
| Recurring financial income | 75 | - | €6,207 | +€6,207 | |
| Financial charges | 65/66B | €39 | €44 | +€5 | +11.7% |
| Recurring financial charges | 65 | €39 | €44 | +€5 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €109,970 | €101,399 | -€8,571 | -7.8% |
| Income taxes | 67/77 | €35,178 | €32,468 | -€2,709 | -7.7% |
| Profit (loss) for the period | 9904 | €74,792 | €68,930 | -€5,862 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €74,792 | €68,930 | -€5,862 | -7.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.