TWO: 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.
TWO
Largest movements
- Tangible fixed assets -€63,783
down €63,783 (-25.5%), from €250,007 to €186,224
of which Other tangible fixed assets: -€36,792
- Cash +€17,605
up €17,605 (+30.2%), from €58,279 to €75,884
mainly Net result for the year (+€96,316) and Depreciation (+€63,783)
- Debts after one year -€124,412
down €124,412 (-52.1%), from €238,777 to €114,365
- Profit (loss) carried forward +€96,316
up €96,316, from €0 to €96,316
- Current portion of long-term debt -€16,711
down €16,711 (-23.7%), from €70,623 to €53,912
- Gross operating margin -€80,636
down €80,636 (-27.5%), from €293,420 to €212,783
- Taxes +€9,269
up €9,269 (+29.4%), from €31,552 to €40,821
- Other operating charges -€4,986
down €4,986 (-64.0%), from €7,790 to €2,804
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 | €356,357 | €309,115 | -€47,242 | -13.3% |
| Fixed assets | 21/28 | €250,007 | €186,224 | -€63,783 | -25.5% |
| Tangible fixed assets | 22/27 | €250,007 | €186,224 | -€63,783 | -25.5% |
| Land and buildings | 22 | €4,293 | €2,862 | -€1,431 | -33.3% |
| Furniture and vehicles | 24 | €92,461 | €66,901 | -€25,560 | -27.6% |
| Other tangible fixed assets | 26 | €153,253 | €116,461 | -€36,792 | -24.0% |
| Current assets | 29/58 | €106,351 | €122,892 | +€16,541 | +15.6% |
| Amounts receivable within one year | 40/41 | €39,957 | €42,269 | +€2,312 | +5.8% |
| Trade receivables | 40 | €39,455 | €35,090 | -€4,365 | -11.1% |
| Other amounts receivable | 41 | €502 | €7,179 | +€6,677 | +1329.9% |
| Cash at bank and in hand | 54/58 | €58,279 | €75,884 | +€17,605 | +30.2% |
| Deferred charges and accrued income | 490/1 | €8,115 | €4,739 | -€3,376 | -41.6% |
| Total equity and liabilities | 10/49 | €356,357 | €309,115 | -€47,242 | -13.3% |
| Equity | 10/15 | €32,649 | €128,965 | +€96,316 | +295.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €26,449 | €26,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €26,449 | €26,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €96,316 | +€96,316 | |
| Amounts payable | 17/49 | €323,709 | €180,150 | -€143,559 | -44.3% |
| Amounts payable after more than one year | 17 | €238,777 | €114,365 | -€124,412 | -52.1% |
| Financial debts | 170/4 | €238,777 | €114,365 | -€124,412 | -52.1% |
| Amounts payable within one year | 42/48 | €84,931 | €65,785 | -€19,146 | -22.5% |
| Current portion of amounts payable after more than one year | 42 | €70,623 | €53,912 | -€16,711 | -23.7% |
| Financial debts | 43 | - | €252 | +€252 | |
| Credit institutions | 430/8 | - | €252 | +€252 | |
| Trade debts | 44 | €3,985 | €3,037 | -€948 | -23.8% |
| Suppliers | 440/4 | €3,985 | €3,037 | -€948 | -23.8% |
| Taxes, remuneration and social security | 45 | €6,092 | €7,235 | +€1,143 | +18.8% |
| Taxes | 450/3 | €6,092 | €7,235 | +€1,143 | +18.8% |
| Other amounts payable | 47/48 | €4,231 | €1,348 | -€2,883 | -68.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,005 | €63,783 | +€2,778 | +4.6% |
| Other operating charges | 640/8 | €7,790 | €2,804 | -€4,986 | -64.0% |
| Gross operating margin | 9900 | €293,420 | €212,783 | -€80,636 | -27.5% |
| Operating profit (loss) | 9901 | €224,625 | €146,196 | -€78,429 | -34.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €11,925 | €9,058 | -€2,867 | -24.0% |
| Recurring financial charges | 65 | €11,925 | €9,058 | -€2,867 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €212,699 | €137,138 | -€75,562 | -35.5% |
| Income taxes | 67/77 | €31,552 | €40,821 | +€9,269 | +29.4% |
| Profit (loss) for the period | 9904 | €181,147 | €96,316 | -€84,831 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €181,147 | €96,316 | -€84,831 | -46.8% |
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 3 October 2026 via checked.be.