TOP COLOR: 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.
TOP COLOR
Largest movements
- Stocks and contracts -€761,784
down €761,784 (-78.2%), from €973,949 to €212,166
- Receivables within one year +€235,894
up €235,894 (+38.6%), from €610,865 to €846,759
of which Trade receivables: +€226,188
- Tangible fixed assets -€17,773
down €17,773 (-62.8%), from €28,306 to €10,532
- Profit (loss) carried forward -€471,415
down €471,415, from €257,960 to -€213,455
- Trade debts -€467,229
down €467,229 (-64.7%), from €722,485 to €255,257
- Tax, wage and social debts +€286,537
up €286,537 (+3,623%), from €7,909 to €294,446
of which Taxes: +€278,075
- Advances received +€174,610
new in 2025: €174,610
- Current portion of long-term debt -€66,776
down €66,776 (-87.1%), from €76,699 to €9,923
- Gross operating margin -€688,994
down €688,994, from €225,281 to -€463,713
- Write-downs -€336,070
down €336,070, from €82,035 to -€254,035
- Taxes +€109,677
up €109,677 (+1,104%), from €9,930 to €119,608
- Other operating charges +€25,669
up €25,669 (+820%), from €3,131 to €28,800
- Financial charges -€15,184
down €15,184 (-33.8%), from €44,910 to €29,727
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 | €1,692,599 | €1,132,956 | -€559,643 | -33.1% |
| Fixed assets | 21/28 | €73,406 | €55,632 | -€17,773 | -24.2% |
| Tangible fixed assets | 22/27 | €28,306 | €10,532 | -€17,773 | -62.8% |
| Plant, machinery and equipment | 23 | €1,688 | - | -€1,688 | |
| Furniture and vehicles | 24 | €12,672 | €7,217 | -€5,455 | -43.0% |
| Leasing and similar rights | 25 | €9,063 | €648 | -€8,414 | -92.8% |
| Other tangible fixed assets | 26 | €4,884 | €2,668 | -€2,216 | -45.4% |
| Financial fixed assets | 28 | €45,100 | €45,100 | = | 0.0% |
| Current assets | 29/58 | €1,619,193 | €1,077,324 | -€541,869 | -33.5% |
| Stocks and contracts in progress | 3 | €973,949 | €212,166 | -€761,784 | -78.2% |
| Stocks | 30/36 | €973,949 | €212,166 | -€761,784 | -78.2% |
| Amounts receivable within one year | 40/41 | €610,865 | €846,759 | +€235,894 | +38.6% |
| Trade receivables | 40 | €608,701 | €834,889 | +€226,188 | +37.2% |
| Other amounts receivable | 41 | €2,164 | €11,870 | +€9,706 | +449% |
| Cash at bank and in hand | 54/58 | €30,935 | €16,516 | -€14,419 | -46.6% |
| Deferred charges and accrued income | 490/1 | €3,444 | €1,883 | -€1,560 | -45.3% |
| Total equity and liabilities | 10/49 | €1,692,599 | €1,132,956 | -€559,643 | -33.1% |
| Equity | 10/15 | €278,420 | -€192,995 | -€471,415 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €257,960 | -€213,455 | -€471,415 | |
| Amounts payable | 17/49 | €1,414,179 | €1,325,951 | -€88,228 | -6.2% |
| Amounts payable after more than one year | 17 | €200,464 | €196,564 | -€3,900 | -1.9% |
| Financial debts | 170/4 | €200,464 | €196,564 | -€3,900 | -1.9% |
| Amounts payable within one year | 42/48 | €1,213,715 | €1,129,387 | -€84,328 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €76,699 | €9,923 | -€66,776 | -87.1% |
| Financial debts | 43 | €330,854 | €319,338 | -€11,516 | -3.5% |
| Credit institutions | 430/8 | €330,854 | €319,338 | -€11,516 | -3.5% |
| Trade debts | 44 | €722,485 | €255,257 | -€467,229 | -64.7% |
| Suppliers | 440/4 | €722,485 | €255,257 | -€467,229 | -64.7% |
| Advances received on contracts in progress | 46 | - | €174,610 | +€174,610 | |
| Taxes, remuneration and social security | 45 | €7,909 | €294,446 | +€286,537 | +3,623% |
| Taxes | 450/3 | €3,327 | €281,403 | +€278,075 | +8,358% |
| Remuneration and social security | 454/9 | €4,582 | €13,043 | +€8,462 | +185% |
| Other amounts payable | 47/48 | €75,767 | €75,813 | +€46 | +0.1% |
| Remuneration, social security and pensions | 62 | €60,849 | €66,035 | +€5,186 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,411 | €17,773 | -€638 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €82,035 | -€254,035 | -€336,070 | |
| Other operating charges | 640/8 | €3,131 | €28,800 | +€25,669 | +820% |
| Gross operating margin | 9900 | €225,281 | -€463,713 | -€688,994 | |
| Operating profit (loss) | 9901 | €60,855 | -€322,287 | -€383,141 | |
| Financial income | 75/76B | €6 | €206 | +€200 | +3,385% |
| Recurring financial income | 75 | €6 | €206 | +€200 | +3,385% |
| Financial charges | 65/66B | €44,910 | €29,727 | -€15,184 | -33.8% |
| Recurring financial charges | 65 | €44,910 | €29,727 | -€15,184 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €15,950 | -€351,807 | -€367,757 | |
| Income taxes | 67/77 | €9,930 | €119,608 | +€109,677 | +1,104% |
| Profit (loss) for the period | 9904 | €6,020 | -€471,415 | -€477,435 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,020 | -€471,415 | -€477,435 |
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 31 October 2026 via checked.be.