U Shape: 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.
U Shape
Largest movements
- Tangible fixed assets -€33,808
down €33,808 (-9.7%), from €347,127 to €313,319
of which Land and buildings: -€20,192
- Receivables within one year -€7,654
down €7,654 (-16.8%), from €45,430 to €37,776
of which Other amounts receivable: -€7,654
- Debts after one year -€31,495
down €31,495 (-9.7%), from €325,272 to €293,778
- Trade debts -€12,776
down €12,776 (-70.6%), from €18,089 to €5,313
- Profit (loss) carried forward +€10,880
up €10,880, from -€10,279 to €601
- Gross operating margin +€17,414
up €17,414 (+38.2%), from €45,566 to €62,980
- Turnover +€11,086
up €11,086 (+17.5%), from €63,278 to €74,364
- Purchases and services -€7,532
down €7,532 (-23.7%), from €31,796 to €24,264
- Depreciation +€1,994
up €1,994 (+5.6%), from €35,879 to €37,873
- Financial income -€1,802
down €1,802 (-32.2%), from €5,589 to €3,787
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 | €401,519 | €360,891 | -€40,627 | -10.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €347,127 | €313,319 | -€33,808 | -9.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €347,127 | €313,319 | -€33,808 | -9.7% |
| Land and buildings | 22 | €262,493 | €242,301 | -€20,192 | -7.7% |
| Plant, machinery and equipment | 23 | €29,381 | €29,162 | -€219 | -0.7% |
| Furniture and vehicles | 24 | €48,828 | €36,769 | -€12,058 | -24.7% |
| Other tangible fixed assets | 26 | €6,425 | €5,086 | -€1,339 | -20.8% |
| Current assets | 29/58 | €54,392 | €47,572 | -€6,820 | -12.5% |
| Amounts receivable within one year | 40/41 | €45,430 | €37,776 | -€7,654 | -16.8% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €45,430 | €37,776 | -€7,654 | -16.8% |
| Cash at bank and in hand | 54/58 | €907 | €2,569 | +€1,661 | +183.2% |
| Deferred charges and accrued income | 490/1 | €8,055 | €7,228 | -€827 | -10.3% |
| Total equity and liabilities | 10/49 | €401,519 | €360,891 | -€40,627 | -10.1% |
| Equity | 10/15 | €19,574 | €29,179 | +€9,605 | +49.1% |
| 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 | -€10,279 | €601 | +€10,880 | |
| Investment grants | 15 | €9,393 | €8,118 | -€1,275 | -13.6% |
| Amounts payable | 17/49 | €381,945 | €331,713 | -€50,232 | -13.2% |
| Amounts payable after more than one year | 17 | €325,272 | €293,778 | -€31,495 | -9.7% |
| Financial debts | 170/4 | €325,272 | €293,778 | -€31,495 | -9.7% |
| Amounts payable within one year | 42/48 | €56,672 | €37,935 | -€18,737 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €31,998 | €31,495 | -€503 | -1.6% |
| Trade debts | 44 | €18,089 | €5,313 | -€12,776 | -70.6% |
| Suppliers | 440/4 | €18,089 | €5,313 | -€12,776 | -70.6% |
| Taxes, remuneration and social security | 45 | €3,741 | €1,127 | -€2,614 | -69.9% |
| Taxes | 450/3 | €3,741 | €1,127 | -€2,614 | -69.9% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €2,845 | €0 | -€2,845 | -100.0% |
| Turnover | 70 | €63,278 | €74,364 | +€11,086 | +17.5% |
| Non-recurring operating income | 76A | €8,000 | - | -€8,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €31,796 | €24,264 | -€7,532 | -23.7% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,879 | €37,873 | +€1,994 | +5.6% |
| Other operating charges | 640/8 | €7,029 | €7,254 | +€226 | +3.2% |
| Non-recurring operating charges | 66A | €1,155 | - | -€1,155 | |
| Gross operating margin | 9900 | €45,566 | €62,980 | +€17,414 | +38.2% |
| Operating profit (loss) | 9901 | €1,504 | €17,853 | +€16,349 | +1087.2% |
| Financial income | 75/76B | €5,589 | €3,787 | -€1,802 | -32.2% |
| Recurring financial income | 75 | €5,589 | €3,787 | -€1,802 | -32.2% |
| Financial charges | 65/66B | €11,859 | €10,400 | -€1,459 | -12.3% |
| Recurring financial charges | 65 | €11,859 | €10,400 | -€1,459 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,766 | €11,239 | +€16,005 | |
| Income taxes | 67/77 | €463 | €359 | -€104 | -22.4% |
| Profit (loss) for the period | 9904 | -€5,229 | €10,880 | +€16,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,229 | €10,880 | +€16,109 |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.