Value Development: 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.
Value Development
Largest movements
- Cash -€7,933
down €7,933 (-91.4%), from €8,674 to €742
- Tangible fixed assets +€3,358
up €3,358 (+49.8%), from €6,745 to €10,104
of which Furniture and vehicles: +€4,398
- Receivables within one year +€2,228
up €2,228 (+3.6%), from €62,170 to €64,397
- Profit (loss) carried forward -€21,503
down €21,503 (-53.3%), from €40,354 to €18,851
- Reserves +€20,000
up €20,000 (+173.0%), from €11,560 to €31,560
of which Distributable reserves: +€20,000
- Trade debts -€2,684
down €2,684 (-65.0%), from €4,133 to €1,449
- Tax, wage and social debts +€1,841
up €1,841 (+20.1%), from €9,142 to €10,983
- Gross operating margin +€14,573
up €14,573 (+280.3%), from €5,199 to €19,773
- Taxes +€4,260
up €4,260 (+376.1%), from €1,133 to €5,393
- Other operating charges +€584
up €584 (+44.9%), from €1,301 to €1,884
- Financial charges -€563
down €563 (-38.7%), from €1,454 to €892
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,589 | €75,242 | -€2,347 | -3.0% |
| Fixed assets | 21/28 | €6,745 | €10,104 | +€3,358 | +49.8% |
| Tangible fixed assets | 22/27 | €6,745 | €10,104 | +€3,358 | +49.8% |
| Furniture and vehicles | 24 | €4,145 | €8,544 | +€4,398 | +106.1% |
| Other tangible fixed assets | 26 | €2,600 | €1,560 | -€1,040 | -40.0% |
| Current assets | 29/58 | €70,844 | €65,139 | -€5,705 | -8.1% |
| Amounts receivable within one year | 40/41 | €62,170 | €64,397 | +€2,228 | +3.6% |
| Other amounts receivable | 41 | €62,170 | €64,397 | +€2,228 | +3.6% |
| Cash at bank and in hand | 54/58 | €8,674 | €742 | -€7,933 | -91.4% |
| Total equity and liabilities | 10/49 | €77,589 | €75,242 | -€2,347 | -3.0% |
| Equity | 10/15 | €64,314 | €62,811 | -€1,503 | -2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,560 | €31,560 | +€20,000 | +173.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,700 | €9,700 | = | 0.0% |
| Distributable reserves | 133 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | €40,354 | €18,851 | -€21,503 | -53.3% |
| Amounts payable | 17/49 | €13,275 | €12,431 | -€844 | -6.4% |
| Amounts payable within one year | 42/48 | €13,275 | €12,431 | -€844 | -6.4% |
| Trade debts | 44 | €4,133 | €1,449 | -€2,684 | -65.0% |
| Suppliers | 440/4 | €4,133 | €1,449 | -€2,684 | -65.0% |
| Taxes, remuneration and social security | 45 | €9,142 | €10,983 | +€1,841 | +20.1% |
| Taxes | 450/3 | €9,142 | €10,983 | +€1,841 | +20.1% |
| Non-recurring operating income | 76A | - | €2,915 | +€2,915 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,105 | €4,281 | +€177 | +4.3% |
| Other operating charges | 640/8 | €1,301 | €1,884 | +€584 | +44.9% |
| Non-recurring operating charges | 66A | - | €4,373 | +€4,373 | |
| Gross operating margin | 9900 | €5,199 | €19,773 | +€14,573 | +280.3% |
| Operating profit (loss) | 9901 | -€206 | €9,234 | +€9,440 | |
| Financial charges | 65/66B | €1,454 | €892 | -€563 | -38.7% |
| Recurring financial charges | 65 | €1,454 | €892 | -€563 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,660 | €8,342 | +€10,003 | |
| Income taxes | 67/77 | €1,133 | €5,393 | +€4,260 | +376.1% |
| Profit (loss) for the period | 9904 | -€2,793 | €2,949 | +€5,743 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,793 | €2,949 | +€5,743 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.