VERSION MUSIC: 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.
VERSION MUSIC
Largest movements
- Intangible fixed assets +€719,348
new in 2025: €719,348
- Tangible fixed assets -€86,659
down €86,659 (-98.5%), from €87,955 to €1,295
- Cash +€11,807
up €11,807 (+890.3%), from €1,326 to €13,134
mainly Other debts (+€881,000) and Depreciation (+€95,121)
- Receivables within one year -€8,550
down €8,550 (-62.6%), from €13,668 to €5,118
- Other debts +€881,000
up €881,000 (+295.6%), from €298,000 to €1.2m
- Profit (loss) carried forward -€240,382
down €240,382 (-86.1%), from -€279,049 to -€519,431
- Gross operating margin +€118,055
up €118,055 (+46.6%), from -€253,249 to -€135,194
- Depreciation +€72,645
up €72,645 (+323.2%), from €22,476 to €95,121
- Financial charges +€6,739
up €6,739 (+229.2%), from €2,940 to €9,679
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 | €102,948 | €738,895 | +€635,946 | +617.7% |
| Fixed assets | 21/28 | €87,955 | €720,643 | +€632,689 | +719.3% |
| Intangible fixed assets | 21 | - | €719,348 | +€719,348 | |
| Tangible fixed assets | 22/27 | €87,955 | €1,295 | -€86,659 | -98.5% |
| Furniture and vehicles | 24 | €87,955 | €1,295 | -€86,659 | -98.5% |
| Current assets | 29/58 | €14,994 | €18,251 | +€3,258 | +21.7% |
| Amounts receivable within one year | 40/41 | €13,668 | €5,118 | -€8,550 | -62.6% |
| Other amounts receivable | 41 | €13,668 | €5,118 | -€8,550 | -62.6% |
| Cash at bank and in hand | 54/58 | €1,326 | €13,134 | +€11,807 | +890.3% |
| Total equity and liabilities | 10/49 | €102,948 | €738,895 | +€635,946 | +617.7% |
| Equity | 10/15 | -€254,049 | -€494,431 | -€240,382 | -94.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€279,049 | -€519,431 | -€240,382 | -86.1% |
| Amounts payable | 17/49 | €356,998 | €1,233,326 | +€876,328 | +245.5% |
| Amounts payable within one year | 42/48 | €356,998 | €1,233,326 | +€876,328 | +245.5% |
| Trade debts | 44 | €58,998 | €54,326 | -€4,672 | -7.9% |
| Suppliers | 440/4 | €58,998 | €54,326 | -€4,672 | -7.9% |
| Other amounts payable | 47/48 | €298,000 | €1,179,000 | +€881,000 | +295.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,476 | €95,121 | +€72,645 | +323.2% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€253,249 | -€135,194 | +€118,055 | +46.6% |
| Operating profit (loss) | 9901 | -€276,109 | -€230,702 | +€45,407 | +16.4% |
| Financial charges | 65/66B | €2,940 | €9,679 | +€6,739 | +229.2% |
| Recurring financial charges | 65 | €2,940 | €9,679 | +€6,739 | +229.2% |
| Profit (loss) for the period before taxes | 9903 | -€279,049 | -€240,382 | +€38,668 | +13.9% |
| Profit (loss) for the period | 9904 | -€279,049 | -€240,382 | +€38,668 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€279,049 | -€240,382 | +€38,668 | +13.9% |
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 30 September 2026 via checked.be.