TRUE COLOURS: 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.
TRUE COLOURS
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€51,758
down €51,758 (-5.6%), from €924,468 to €872,710
mainly Current investments (-€250,000) and Debts after one year (-€34,078)
- Tangible fixed assets -€47,774
down €47,774 (-4.6%), from €1.0m to €998,832
of which Land and buildings: -€32,949
- Profit (loss) carried forward +€142,576
up €142,576 (+9.9%), from €1.4m to €1.6m
- Tax, wage and social debts +€61,886
up €61,886 (+312%), from €19,849 to €81,735
- Debts after one year -€34,078
down €34,078 (-6.3%), from €538,332 to €504,254
- Gross operating margin -€8,415
down €8,415 (-3.1%), from €269,217 to €260,803
- Other operating charges +€5,027
up €5,027 (+95.3%), from €5,275 to €10,303
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 | €2,079,673 | €2,235,507 | +€155,834 | +7.5% |
| Fixed assets | 21/28 | €1,046,606 | €998,832 | -€47,774 | -4.6% |
| Tangible fixed assets | 22/27 | €1,046,606 | €998,832 | -€47,774 | -4.6% |
| Land and buildings | 22 | €973,229 | €940,280 | -€32,949 | -3.4% |
| Furniture and vehicles | 24 | €57,326 | €44,211 | -€13,115 | -22.9% |
| Leasing and similar rights | 25 | €15,000 | €13,500 | -€1,500 | -10.0% |
| Other tangible fixed assets | 26 | €1,052 | €841 | -€210 | -20.0% |
| Current assets | 29/58 | €1,033,067 | €1,236,675 | +€203,608 | +19.7% |
| Amounts receivable within one year | 40/41 | €107,458 | €111,277 | +€3,819 | +3.6% |
| Trade receivables | 40 | €93,578 | €59,642 | -€33,936 | -36.3% |
| Other amounts receivable | 41 | €13,880 | €51,635 | +€37,755 | +272% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €924,468 | €872,710 | -€51,758 | -5.6% |
| Deferred charges and accrued income | 490/1 | €1,141 | €2,689 | +€1,548 | +136% |
| Total equity and liabilities | 10/49 | €2,079,673 | €2,235,507 | +€155,834 | +7.5% |
| Equity | 10/15 | €1,471,680 | €1,614,256 | +€142,576 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,253 | €14,253 | = | 0.0% |
| Distributable reserves | 133 | €14,253 | €14,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,438,827 | €1,581,404 | +€142,576 | +9.9% |
| Amounts payable | 17/49 | €607,993 | €621,251 | +€13,258 | +2.2% |
| Amounts payable after more than one year | 17 | €538,332 | €504,254 | -€34,078 | -6.3% |
| Financial debts | 170/4 | €538,332 | €504,254 | -€34,078 | -6.3% |
| Amounts payable within one year | 42/48 | €69,661 | €116,997 | +€47,336 | +68.0% |
| Current portion of amounts payable after more than one year | 42 | €41,512 | €34,078 | -€7,434 | -17.9% |
| Trade debts | 44 | €8,300 | €1,184 | -€7,116 | -85.7% |
| Suppliers | 440/4 | €8,300 | €1,184 | -€7,116 | -85.7% |
| Taxes, remuneration and social security | 45 | €19,849 | €81,735 | +€61,886 | +312% |
| Taxes | 450/3 | €19,849 | €81,735 | +€61,886 | +312% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,958 | €50,702 | -€256 | -0.5% |
| Other operating charges | 640/8 | €5,275 | €10,303 | +€5,027 | +95.3% |
| Non-recurring operating charges | 66A | - | €45 | +€45 | |
| Gross operating margin | 9900 | €269,217 | €260,803 | -€8,415 | -3.1% |
| Operating profit (loss) | 9901 | €212,984 | €199,754 | -€13,230 | -6.2% |
| Financial income | 75/76B | €9,202 | €6,556 | -€2,646 | -28.8% |
| Recurring financial income | 75 | €9,202 | €6,556 | -€2,646 | -28.8% |
| Financial charges | 65/66B | €8,940 | €9,392 | +€452 | +5.1% |
| Recurring financial charges | 65 | €8,940 | €9,392 | +€452 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €213,247 | €196,918 | -€16,328 | -7.7% |
| Income taxes | 67/77 | €55,809 | €54,342 | -€1,467 | -2.6% |
| Profit (loss) for the period | 9904 | €157,438 | €142,576 | -€14,861 | -9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €157,438 | €142,576 | -€14,861 | -9.4% |
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 14 October 2026 via checked.be.