theWorks: 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.
theWorks
Largest movements
- Current investments +€225,000
up €225,000 (+113%), from €200,000 to €425,000
- Cash -€187,005
down €187,005 (-88.2%), from €212,058 to €25,053
mainly Contributions, distributions and other (-€235,500) and Current investments (-€225,000)
- Tangible fixed assets -€11,416
down €11,416 (-17.6%), from €65,007 to €53,591
of which Furniture and vehicles: -€9,910
- Receivables within one year +€8,922
up €8,922 (+20.7%), from €43,140 to €52,062
of which Trade receivables: +€14,520
- Other debts +€215,677
up €215,677 (+3,278%), from €6,580 to €222,257
- Reserves -€176,812
down €176,812 (-37.5%), from €471,022 to €294,210
- Gross operating margin -€97,562
down €97,562 (-52.0%), from €187,675 to €90,113
- Taxes -€32,470
down €32,470 (-57.8%), from €56,185 to €23,716
- Depreciation +€7,528
up €7,528 (+102%), from €7,360 to €14,888
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 | €523,157 | €556,922 | +€33,765 | +6.5% |
| Fixed assets | 21/28 | €65,007 | €53,591 | -€11,416 | -17.6% |
| Tangible fixed assets | 22/27 | €65,007 | €53,591 | -€11,416 | -17.6% |
| Plant, machinery and equipment | 23 | €6,213 | €4,706 | -€1,507 | -24.3% |
| Furniture and vehicles | 24 | €58,794 | €48,884 | -€9,910 | -16.9% |
| Current assets | 29/58 | €458,150 | €503,331 | +€45,181 | +9.9% |
| Amounts receivable within one year | 40/41 | €43,140 | €52,062 | +€8,922 | +20.7% |
| Trade receivables | 40 | €24,200 | €38,720 | +€14,520 | +60.0% |
| Other amounts receivable | 41 | €18,940 | €13,342 | -€5,598 | -29.6% |
| Current investments | 50/53 | €200,000 | €425,000 | +€225,000 | +113% |
| Cash at bank and in hand | 54/58 | €212,058 | €25,053 | -€187,005 | -88.2% |
| Deferred charges and accrued income | 490/1 | €2,952 | €1,217 | -€1,736 | -58.8% |
| Total equity and liabilities | 10/49 | €523,157 | €556,922 | +€33,765 | +6.5% |
| Equity | 10/15 | €477,222 | €300,410 | -€176,812 | -37.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €471,022 | €294,210 | -€176,812 | -37.5% |
| Distributable reserves | 133 | €471,022 | €294,210 | -€176,812 | -37.5% |
| Amounts payable | 17/49 | €45,935 | €256,512 | +€210,577 | +458% |
| Amounts payable within one year | 42/48 | €43,835 | €253,727 | +€209,892 | +479% |
| Trade debts | 44 | €3,506 | €48 | -€3,458 | -98.6% |
| Suppliers | 440/4 | €3,506 | €48 | -€3,458 | -98.6% |
| Taxes, remuneration and social security | 45 | €33,749 | €31,423 | -€2,327 | -6.9% |
| Taxes | 450/3 | €33,749 | €31,423 | -€2,327 | -6.9% |
| Other amounts payable | 47/48 | €6,580 | €222,257 | +€215,677 | +3,278% |
| Accrued charges and deferred income | 492/3 | €2,100 | €2,785 | +€685 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,360 | €14,888 | +€7,528 | +102% |
| Other operating charges | 640/8 | €361 | €651 | +€290 | +80.3% |
| Non-recurring operating charges | 66A | €759 | - | -€759 | |
| Gross operating margin | 9900 | €187,675 | €90,113 | -€97,562 | -52.0% |
| Operating profit (loss) | 9901 | €179,195 | €74,574 | -€104,620 | -58.4% |
| Financial income | 75/76B | €7,131 | €8,061 | +€930 | +13.0% |
| Recurring financial income | 75 | €7,131 | €8,061 | +€930 | +13.0% |
| Financial charges | 65/66B | €56 | €232 | +€176 | +313% |
| Recurring financial charges | 65 | €56 | €232 | +€176 | +313% |
| Profit (loss) for the period before taxes | 9903 | €186,269 | €82,404 | -€103,866 | -55.8% |
| Income taxes | 67/77 | €56,185 | €23,716 | -€32,470 | -57.8% |
| Profit (loss) for the period | 9904 | €130,084 | €58,688 | -€71,396 | -54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €130,084 | €58,688 | -€71,396 | -54.9% |
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 19 October 2026 via checked.be.