V13: 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.
V13
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Financial charges -€337,881
down €337,881 (-99.9%), from €338,313 to €432
of which Non-recurring financial charges: -€337,800
- Gross operating margin -€18,060
down €18,060 (-130.0%), from -€13,889 to -€31,949
- Financial income +€1,643
up €1,643 (+7.0%), from €23,468 to €25,111
- Other operating charges -€359
down €359 (-9.7%), from €3,704 to €3,346
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 | €4,412,718 | €4,401,112 | -€11,606 | -0.3% |
| Fixed assets | 21/28 | €2,821,301 | €2,822,146 | +€845 | 0.0% |
| Tangible fixed assets | 22/27 | €3,449 | €4,294 | +€845 | +24.5% |
| Plant, machinery and equipment | 23 | €1,017 | €750 | -€267 | -26.3% |
| Furniture and vehicles | 24 | €2,279 | €3,470 | +€1,191 | +52.2% |
| Other tangible fixed assets | 26 | €152 | €74 | -€79 | -51.6% |
| Financial fixed assets | 28 | €2,817,852 | €2,817,852 | = | 0.0% |
| Current assets | 29/58 | €1,591,417 | €1,578,966 | -€12,450 | -0.8% |
| Amounts receivable within one year | 40/41 | €1,565,209 | €1,549,405 | -€15,804 | -1.0% |
| Trade receivables | 40 | €65 | - | -€65 | |
| Other amounts receivable | 41 | €1,565,144 | €1,549,405 | -€15,739 | -1.0% |
| Cash at bank and in hand | 54/58 | €2,235 | €3,962 | +€1,727 | +77.3% |
| Deferred charges and accrued income | 490/1 | €23,973 | €25,599 | +€1,626 | +6.8% |
| Total equity and liabilities | 10/49 | €4,412,718 | €4,401,112 | -€11,606 | -0.3% |
| Equity | 10/15 | €4,407,775 | €4,395,509 | -€12,266 | -0.3% |
| Contributions | 10/11 | €1,263,800 | €1,263,800 | = | 0.0% |
| Reserves | 13 | €3,168,659 | €3,168,659 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,168,187 | €3,168,187 | = | 0.0% |
| Other | 1319 | €3,168,187 | €3,168,187 | = | 0.0% |
| Tax-exempt reserves | 132 | €472 | €472 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,684 | -€36,950 | -€12,266 | -49.7% |
| Amounts payable | 17/49 | €4,943 | €5,603 | +€660 | +13.4% |
| Amounts payable within one year | 42/48 | €4,943 | €5,108 | +€165 | +3.3% |
| Trade debts | 44 | €4,943 | €4,681 | -€261 | -5.3% |
| Suppliers | 440/4 | €4,943 | €4,681 | -€261 | -5.3% |
| Taxes, remuneration and social security | 45 | - | €427 | +€427 | |
| Taxes | 450/3 | - | €427 | +€427 | |
| Accrued charges and deferred income | 492/3 | - | €495 | +€495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €629 | €428 | -€201 | -32.0% |
| Other operating charges | 640/8 | €3,704 | €3,346 | -€359 | -9.7% |
| Non-recurring operating charges | 66A | - | €58 | +€58 | |
| Gross operating margin | 9900 | -€13,889 | -€31,949 | -€18,060 | -130.0% |
| Operating profit (loss) | 9901 | -€18,223 | -€35,781 | -€17,558 | -96.3% |
| Financial income | 75/76B | €23,468 | €25,111 | +€1,643 | +7.0% |
| Recurring financial income | 75 | €23,468 | €25,111 | +€1,643 | +7.0% |
| Financial charges | 65/66B | €338,313 | €432 | -€337,881 | -99.9% |
| Recurring financial charges | 65 | €513 | €432 | -€81 | -15.9% |
| Non-recurring financial charges | 66B | €337,800 | - | -€337,800 | |
| Profit (loss) for the period before taxes | 9903 | -€333,068 | -€11,101 | +€321,967 | +96.7% |
| Income taxes | 67/77 | €1,168 | €1,165 | -€3 | -0.3% |
| Profit (loss) for the period | 9904 | -€334,236 | -€12,266 | +€321,970 | +96.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€334,236 | -€12,266 | +€321,970 | +96.3% |
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 1 October 2026 via checked.be.