The War on Average: 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 War on Average
Largest movements
- Receivables within one year -€12,816
down €12,816 (-35.0%), from €36,658 to €23,841
of which Trade receivables: -€12,646
- Tangible fixed assets +€9,755
up €9,755 (+838%), from €1,165 to €10,920
of which Other tangible fixed assets: +€8,575
- Other debts -€14,094
down €14,094 (-93.6%), from €15,052 to €958
- Tax, wage and social debts +€5,859
up €5,859 (+67.9%), from €8,626 to €14,485
- Accrued charges and deferred income +€3,600
new in 2025: €3,600
- Profit (loss) carried forward +€1,770
up €1,770 (+15.2%), from €11,645 to €13,416
- Short-term financial debts -€1,051
down €1,051 (-72.5%), from €1,450 to €399
- Gross operating margin +€3,983
up €3,983 (+16.5%), from €24,149 to €28,132
- Financial charges +€3,581
up €3,581 (+141%), from €2,538 to €6,119
- Taxes +€1,085
up €1,085 (+36.4%), from €2,977 to €4,062
- Other operating charges +€781
up €781 (+260%), from €300 to €1,081
- Depreciation +€672
up €672 (+369%), from €182 to €854
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 | €43,213 | €40,134 | -€3,079 | -7.1% |
| Fixed assets | 21/28 | €1,165 | €10,920 | +€9,755 | +838% |
| Tangible fixed assets | 22/27 | €1,165 | €10,920 | +€9,755 | +838% |
| Furniture and vehicles | 24 | €1,165 | €2,345 | +€1,180 | +101% |
| Other tangible fixed assets | 26 | - | €8,575 | +€8,575 | |
| Current assets | 29/58 | €42,049 | €29,214 | -€12,834 | -30.5% |
| Amounts receivable within one year | 40/41 | €36,658 | €23,841 | -€12,816 | -35.0% |
| Trade receivables | 40 | €36,456 | €23,809 | -€12,646 | -34.7% |
| Other amounts receivable | 41 | €202 | €32 | -€170 | -84.1% |
| Cash at bank and in hand | 54/58 | €4,875 | €4,864 | -€10 | -0.2% |
| Deferred charges and accrued income | 490/1 | €516 | €508 | -€8 | -1.5% |
| Total equity and liabilities | 10/49 | €43,213 | €40,134 | -€3,079 | -7.1% |
| Equity | 10/15 | €16,645 | €18,416 | +€1,770 | +10.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,645 | €13,416 | +€1,770 | +15.2% |
| Amounts payable | 17/49 | €26,568 | €21,718 | -€4,850 | -18.3% |
| Amounts payable within one year | 42/48 | €26,568 | €18,118 | -€8,450 | -31.8% |
| Financial debts | 43 | €1,450 | €399 | -€1,051 | -72.5% |
| Credit institutions | 430/8 | €1,450 | €399 | -€1,051 | -72.5% |
| Trade debts | 44 | €1,440 | €2,276 | +€837 | +58.1% |
| Suppliers | 440/4 | €1,440 | €2,276 | +€837 | +58.1% |
| Taxes, remuneration and social security | 45 | €8,626 | €14,485 | +€5,859 | +67.9% |
| Taxes | 450/3 | €8,626 | €14,485 | +€5,859 | +67.9% |
| Other amounts payable | 47/48 | €15,052 | €958 | -€14,094 | -93.6% |
| Accrued charges and deferred income | 492/3 | - | €3,600 | +€3,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182 | €854 | +€672 | +369% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,318 | €14,318 | = | 0.0% |
| Other operating charges | 640/8 | €300 | €1,081 | +€781 | +260% |
| Gross operating margin | 9900 | €24,149 | €28,132 | +€3,983 | +16.5% |
| Operating profit (loss) | 9901 | €9,349 | €11,879 | +€2,530 | +27.1% |
| Financial income | 75/76B | €0 | €72 | +€72 | +240,333% |
| Recurring financial income | 75 | €0 | €72 | +€72 | +240,333% |
| Financial charges | 65/66B | €2,538 | €6,119 | +€3,581 | +141% |
| Recurring financial charges | 65 | €2,538 | €6,119 | +€3,581 | +141% |
| Profit (loss) for the period before taxes | 9903 | €6,811 | €5,832 | -€979 | -14.4% |
| Income taxes | 67/77 | €2,977 | €4,062 | +€1,085 | +36.4% |
| Profit (loss) for the period | 9904 | €3,834 | €1,770 | -€2,064 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,834 | €1,770 | -€2,064 | -53.8% |
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 15 October 2026 via checked.be.