V OVERVIEW: 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.
V OVERVIEW
Largest movements
- Receivables after one year +€185,000
up €185,000 (+51.4%), from €360,000 to €545,000
- Tangible fixed assets -€11,262
down €11,262 (-26.1%), from €43,201 to €31,939
- Profit (loss) carried forward +€170,006
new in 2025: €170,006
- Other debts +€81,678
up €81,678 (+1,419%), from €5,754 to €87,432
- Tax, wage and social debts -€53,772
down €53,772 (-35.3%), from €152,424 to €98,652
- Debts after one year -€15,354
down €15,354 (-100%), from €15,354 to €0
- Gross operating margin -€137,033
down €137,033 (-38.0%), from €360,482 to €223,449
- Taxes -€55,765
down €55,765 (-51.2%), from €108,924 to €53,159
- Financial income +€11,683
up €11,683 (+450%), from €2,596 to €14,279
- Other operating charges -€5,383
down €5,383 (-95.2%), from €5,655 to €272
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 | €434,714 | €616,426 | +€181,712 | +41.8% |
| Formation expenses | 20 | €754 | €555 | -€199 | -26.4% |
| Fixed assets | 21/28 | €43,201 | €31,939 | -€11,262 | -26.1% |
| Tangible fixed assets | 22/27 | €43,201 | €31,939 | -€11,262 | -26.1% |
| Furniture and vehicles | 24 | €43,201 | €31,939 | -€11,262 | -26.1% |
| Current assets | 29/58 | €390,759 | €583,932 | +€193,173 | +49.4% |
| Amounts receivable after more than one year | 29 | €360,000 | €545,000 | +€185,000 | +51.4% |
| Other amounts receivable | 291 | €360,000 | €545,000 | +€185,000 | +51.4% |
| Amounts receivable within one year | 40/41 | €12,100 | €17,035 | +€4,935 | +40.8% |
| Trade receivables | 40 | €12,100 | €16,973 | +€4,873 | +40.3% |
| Other amounts receivable | 41 | - | €62 | +€62 | |
| Cash at bank and in hand | 54/58 | €18,380 | €21,821 | +€3,441 | +18.7% |
| Deferred charges and accrued income | 490/1 | €279 | €76 | -€203 | -72.8% |
| Total equity and liabilities | 10/49 | €434,714 | €616,426 | +€181,712 | +41.8% |
| Equity | 10/15 | €239,840 | €409,846 | +€170,006 | +70.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €232,340 | €232,340 | = | 0.0% |
| Distributable reserves | 133 | €232,340 | €232,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €170,006 | +€170,006 | |
| Amounts payable | 17/49 | €194,874 | €206,580 | +€11,706 | +6.0% |
| Amounts payable after more than one year | 17 | €15,354 | €0 | -€15,354 | -100% |
| Financial debts | 170/4 | €15,354 | €0 | -€15,354 | -100% |
| Amounts payable within one year | 42/48 | €179,519 | €206,511 | +€26,991 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €16,221 | €15,354 | -€867 | -5.3% |
| Trade debts | 44 | €5,120 | €5,073 | -€47 | -0.9% |
| Suppliers | 440/4 | €5,120 | €5,073 | -€47 | -0.9% |
| Taxes, remuneration and social security | 45 | €152,424 | €98,652 | -€53,772 | -35.3% |
| Taxes | 450/3 | €152,424 | €98,652 | -€53,772 | -35.3% |
| Other amounts payable | 47/48 | €5,754 | €87,432 | +€81,678 | +1,419% |
| Accrued charges and deferred income | 492/3 | - | €69 | +€69 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,350 | €11,461 | -€1,889 | -14.2% |
| Other operating charges | 640/8 | €5,655 | €272 | -€5,383 | -95.2% |
| Gross operating margin | 9900 | €360,482 | €223,449 | -€137,033 | -38.0% |
| Operating profit (loss) | 9901 | €341,477 | €211,716 | -€129,761 | -38.0% |
| Financial income | 75/76B | €2,596 | €14,279 | +€11,683 | +450% |
| Recurring financial income | 75 | €2,596 | €14,279 | +€11,683 | +450% |
| Financial charges | 65/66B | €2,808 | €2,830 | +€21 | +0.8% |
| Recurring financial charges | 65 | €2,808 | €2,830 | +€21 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €341,264 | €223,166 | -€118,099 | -34.6% |
| Income taxes | 67/77 | €108,924 | €53,159 | -€55,765 | -51.2% |
| Profit (loss) for the period | 9904 | €232,340 | €170,006 | -€62,334 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €232,340 | €170,006 | -€62,334 | -26.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.