UPPER SIDE: 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.
UPPER SIDE
Largest movements
- Current investments +€61,667
up €61,667 (+40.4%), from €152,573 to €214,240
- Receivables within one year -€18,439
down €18,439 (-26.4%), from €69,774 to €51,335
of which Trade receivables: -€24,791
- Cash +€14,709
up €14,709 (+39.1%), from €37,587 to €52,296
mainly Net result for the year (+€68,252) and Other debts (+€49,449)
- Intangible fixed assets -€5,380
down €5,380 (-65.3%), from €8,240 to €2,860
- Other debts +€49,449
new in 2025: €49,449
- Tax, wage and social debts +€17,311
up €17,311 (+232%), from €7,470 to €24,781
of which Taxes: +€17,621
- Trade debts -€16,750
down €16,750 (-80.1%), from €20,904 to €4,153
- Staff costs -€11,961
no longer reported in 2025 (was €11,961)
- Financial income +€4,847
up €4,847 (+18.9%), from €25,676 to €30,523
- Taxes +€3,814
up €3,814 (+25.7%), from €14,815 to €18,628
- Gross operating margin -€1,825
down €1,825 (-2.6%), from €68,875 to €67,050
- Depreciation -€1,778
down €1,778 (-15.6%), from €11,375 to €9,597
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 | €274,036 | €324,525 | +€50,489 | +18.4% |
| Fixed assets | 21/28 | €13,046 | €6,109 | -€6,936 | -53.2% |
| Intangible fixed assets | 21 | €8,240 | €2,860 | -€5,380 | -65.3% |
| Tangible fixed assets | 22/27 | €4,806 | €3,250 | -€1,556 | -32.4% |
| Furniture and vehicles | 24 | €4,806 | €3,250 | -€1,556 | -32.4% |
| Current assets | 29/58 | €260,990 | €318,415 | +€57,425 | +22.0% |
| Amounts receivable within one year | 40/41 | €69,774 | €51,335 | -€18,439 | -26.4% |
| Trade receivables | 40 | €41,678 | €16,886 | -€24,791 | -59.5% |
| Other amounts receivable | 41 | €28,097 | €34,449 | +€6,352 | +22.6% |
| Current investments | 50/53 | €152,573 | €214,240 | +€61,667 | +40.4% |
| Cash at bank and in hand | 54/58 | €37,587 | €52,296 | +€14,709 | +39.1% |
| Deferred charges and accrued income | 490/1 | €1,055 | €543 | -€512 | -48.5% |
| Total equity and liabilities | 10/49 | €274,036 | €324,525 | +€50,489 | +18.4% |
| Equity | 10/15 | €245,662 | €243,974 | -€1,688 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 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 | €231,402 | €229,714 | -€1,688 | -0.7% |
| Amounts payable | 17/49 | €28,374 | €80,551 | +€52,177 | +184% |
| Amounts payable within one year | 42/48 | €28,374 | €80,551 | +€52,177 | +184% |
| Trade debts | 44 | €20,904 | €4,153 | -€16,750 | -80.1% |
| Suppliers | 440/4 | €20,904 | €4,153 | -€16,750 | -80.1% |
| Advances received on contracts in progress | 46 | - | €2,167 | +€2,167 | |
| Taxes, remuneration and social security | 45 | €7,470 | €24,781 | +€17,311 | +232% |
| Taxes | 450/3 | €7,160 | €24,781 | +€17,621 | +246% |
| Remuneration and social security | 454/9 | €310 | - | -€310 | |
| Other amounts payable | 47/48 | - | €49,449 | +€49,449 | |
| Remuneration, social security and pensions | 62 | €11,961 | - | -€11,961 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,375 | €9,597 | -€1,778 | -15.6% |
| Other operating charges | 640/8 | €710 | €488 | -€222 | -31.2% |
| Gross operating margin | 9900 | €68,875 | €67,050 | -€1,825 | -2.6% |
| Operating profit (loss) | 9901 | €44,829 | €56,965 | +€12,136 | +27.1% |
| Financial income | 75/76B | €25,676 | €30,523 | +€4,847 | +18.9% |
| Recurring financial income | 75 | €25,676 | €30,523 | +€4,847 | +18.9% |
| Financial charges | 65/66B | €189 | €608 | +€419 | +222% |
| Recurring financial charges | 65 | €189 | €608 | +€419 | +222% |
| Profit (loss) for the period before taxes | 9903 | €70,316 | €86,880 | +€16,565 | +23.6% |
| Income taxes | 67/77 | €14,815 | €18,628 | +€3,814 | +25.7% |
| Profit (loss) for the period | 9904 | €55,501 | €68,252 | +€12,751 | +23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,501 | €68,252 | +€12,751 | +23.0% |
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 16 October 2026 via checked.be.