TRUE: 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.
TRUE
Largest movements
- Receivables within one year +€41,471
up €41,471 (+9.9%), from €419,370 to €460,840
of which Trade receivables: +€38,663
- Cash +€13,248
up €13,248 (+115.9%), from €11,428 to €24,676
mainly Net result for the year (+€76,421) and Depreciation (+€6,254)
- Profit (loss) carried forward +€76,421
up €76,421 (+173.0%), from €44,170 to €120,590
- Other debts -€17,764
down €17,764 (-26.0%), from €68,240 to €50,477
- Trade debts -€9,862
down €9,862 (-4.4%), from €223,935 to €214,072
- Gross operating margin +€99,655
up €99,655 (+21.1%), from €473,321 to €572,976
- Staff costs -€32,526
down €32,526 (-6.4%), from €505,679 to €473,154
- Depreciation -€19,046
down €19,046 (-75.3%), from €25,300 to €6,254
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 | €470,668 | €519,133 | +€48,465 | +10.3% |
| Fixed assets | 21/28 | €39,871 | €33,617 | -€6,254 | -15.7% |
| Intangible fixed assets | 21 | €34,804 | €31,304 | -€3,500 | -10.1% |
| Tangible fixed assets | 22/27 | €4,907 | €2,153 | -€2,754 | -56.1% |
| Plant, machinery and equipment | 23 | €4,058 | €1,492 | -€2,566 | -63.2% |
| Furniture and vehicles | 24 | €849 | €661 | -€187 | -22.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €430,797 | €485,516 | +€54,718 | +12.7% |
| Amounts receivable within one year | 40/41 | €419,370 | €460,840 | +€41,471 | +9.9% |
| Trade receivables | 40 | €416,327 | €454,991 | +€38,663 | +9.3% |
| Other amounts receivable | 41 | €3,042 | €5,849 | +€2,807 | +92.3% |
| Cash at bank and in hand | 54/58 | €11,428 | €24,676 | +€13,248 | +115.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €470,668 | €519,133 | +€48,465 | +10.3% |
| Equity | 10/15 | €64,630 | €141,050 | +€76,421 | +118.2% |
| 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 | €44,170 | €120,590 | +€76,421 | +173.0% |
| Amounts payable | 17/49 | €406,039 | €378,083 | -€27,956 | -6.9% |
| Amounts payable within one year | 42/48 | €406,039 | €378,083 | -€27,956 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €10,642 | €10,629 | -€13 | -0.1% |
| Trade debts | 44 | €223,935 | €214,072 | -€9,862 | -4.4% |
| Suppliers | 440/4 | €223,935 | €214,072 | -€9,862 | -4.4% |
| Taxes, remuneration and social security | 45 | €103,222 | €102,905 | -€317 | -0.3% |
| Taxes | 450/3 | €33,637 | €35,729 | +€2,092 | +6.2% |
| Remuneration and social security | 454/9 | €69,585 | €67,176 | -€2,409 | -3.5% |
| Other amounts payable | 47/48 | €68,240 | €50,477 | -€17,764 | -26.0% |
| Remuneration, social security and pensions | 62 | €505,679 | €473,154 | -€32,526 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,300 | €6,254 | -€19,046 | -75.3% |
| Other operating charges | 640/8 | €10,823 | €6,485 | -€4,338 | -40.1% |
| Gross operating margin | 9900 | €473,321 | €572,976 | +€99,655 | +21.1% |
| Operating profit (loss) | 9901 | -€68,481 | €87,083 | +€155,564 | |
| Financial income | 75/76B | €0 | €486 | +€486 | |
| Recurring financial income | 75 | €0 | €486 | +€486 | |
| Financial charges | 65/66B | €5,569 | €6,520 | +€951 | +17.1% |
| Recurring financial charges | 65 | €5,569 | €6,520 | +€951 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | -€74,050 | €81,050 | +€155,100 | |
| Income taxes | 67/77 | €34 | €4,629 | +€4,595 | +13486.5% |
| Profit (loss) for the period | 9904 | -€74,084 | €76,421 | +€150,505 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,084 | €76,421 | +€150,505 |
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 5 October 2026 via checked.be.