VALUE FOR GROWTH: 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.
VALUE FOR GROWTH
Largest movements
- Cash -€51,028
down €51,028 (-39.3%), from €129,864 to €78,836
mainly Other debts (-€48,551) and Trade debts (-€10,633)
- Receivables within one year -€8,133
down €8,133 (-57.0%), from €14,277 to €6,144
of which Other amounts receivable: -€8,260
- Other debts -€48,551
no longer reported in 2025 (was €48,551)
- Trade debts -€10,633
down €10,633 (-39.7%), from €26,765 to €16,132
- Gross operating margin -€992
down €992 (-99.8%), from €994 to €2
- Taxes -€921
down €921 (-96.0%), from €959 to €38
- Financial income -€190
down €190 (-30.1%), from €630 to €440
- Financial charges -€16
down €16 (-5.1%), from €306 to €290
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 | €150,159 | €90,980 | -€59,179 | -39.4% |
| Fixed assets | 21/28 | €6,000 | €6,000 | = | 0.0% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €144,159 | €84,980 | -€59,179 | -41.1% |
| Amounts receivable within one year | 40/41 | €14,277 | €6,144 | -€8,133 | -57.0% |
| Trade receivables | 40 | €1,310 | €1,438 | +€127 | +9.7% |
| Other amounts receivable | 41 | €12,967 | €4,707 | -€8,260 | -63.7% |
| Cash at bank and in hand | 54/58 | €129,864 | €78,836 | -€51,028 | -39.3% |
| Deferred charges and accrued income | 490/1 | €17 | - | -€17 | |
| Total equity and liabilities | 10/49 | €150,159 | €90,980 | -€59,179 | -39.4% |
| Equity | 10/15 | €74,734 | €74,848 | +€114 | +0.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €12,370 | €12,370 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,370 | €12,370 | = | 0.0% |
| Legal reserve | 130 | €12,370 | €12,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €364 | €478 | +€114 | +31.4% |
| Amounts payable | 17/49 | €75,425 | €16,132 | -€59,293 | -78.6% |
| Amounts payable within one year | 42/48 | €75,425 | €16,132 | -€59,293 | -78.6% |
| Trade debts | 44 | €26,765 | €16,132 | -€10,633 | -39.7% |
| Suppliers | 440/4 | €26,765 | €16,132 | -€10,633 | -39.7% |
| Taxes, remuneration and social security | 45 | €109 | - | -€109 | |
| Taxes | 450/3 | €109 | - | -€109 | |
| Other amounts payable | 47/48 | €48,551 | - | -€48,551 | |
| Gross operating margin | 9900 | €994 | €2 | -€992 | -99.8% |
| Operating profit (loss) | 9901 | €994 | €2 | -€992 | -99.8% |
| Financial income | 75/76B | €630 | €440 | -€190 | -30.1% |
| Recurring financial income | 75 | €630 | €440 | -€190 | -30.1% |
| Financial charges | 65/66B | €306 | €290 | -€16 | -5.1% |
| Recurring financial charges | 65 | €306 | €290 | -€16 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €1,318 | €152 | -€1,166 | -88.5% |
| Income taxes | 67/77 | €959 | €38 | -€921 | -96.0% |
| Profit (loss) for the period | 9904 | €358 | €114 | -€244 | -68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €358 | €114 | -€244 | -68.2% |
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.