WAY CONNECTION: 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.
WAY CONNECTION
Largest movements
- Receivables within one year +€75,892
up €75,892 (+45.4%), from €167,331 to €243,223
of which Trade receivables: +€75,892
- Stocks and contracts +€62,980
up €62,980 (+242.5%), from €25,974 to €88,955
- Tangible fixed assets -€54,847
down €54,847 (-72.0%), from €76,150 to €21,303
of which Furniture and vehicles: -€47,652
- Deferred charges and accrued income +€32,035
up €32,035 (+8124.8%), from €394 to €32,429
- Trade debts +€122,410
up €122,410 (+51.4%), from €238,370 to €360,780
- Other debts +€38,970
up €38,970 (+14.5%), from €268,448 to €307,419
- Tax, wage and social debts -€35,948
down €35,948 (-50.8%), from €70,802 to €34,854
of which Remuneration and social security: -€31,209
- Debts after one year -€6,016
down €6,016 (-48.2%), from €12,480 to €6,464
- Staff costs -€126,587
down €126,587 (-55.9%), from €226,625 to €100,038
- Gross operating margin -€90,316
down €90,316 (-43.0%), from €210,149 to €119,833
- Financial charges -€2,219
down €2,219 (-63.6%), from €3,491 to €1,272
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.
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 | €292,294 | €408,142 | +€115,848 | +39.6% |
| Fixed assets | 21/28 | €76,150 | €21,303 | -€54,847 | -72.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €76,150 | €21,303 | -€54,847 | -72.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €1,046 | €80 | -€965 | -92.3% |
| Furniture and vehicles | 24 | €57,850 | €10,198 | -€47,652 | -82.4% |
| Leasing and similar rights | 25 | €17,255 | €11,025 | -€6,230 | -36.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €216,144 | €386,839 | +€170,695 | +79.0% |
| Stocks and contracts in progress | 3 | €25,974 | €88,955 | +€62,980 | +242.5% |
| Stocks | 30/36 | €25,974 | €88,955 | +€62,980 | +242.5% |
| Amounts receivable within one year | 40/41 | €167,331 | €243,223 | +€75,892 | +45.4% |
| Trade receivables | 40 | €164,531 | €240,423 | +€75,892 | +46.1% |
| Other amounts receivable | 41 | €2,800 | €2,800 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,444 | €22,233 | -€212 | -0.9% |
| Deferred charges and accrued income | 490/1 | €394 | €32,429 | +€32,035 | +8124.8% |
| Total equity and liabilities | 10/49 | €292,294 | €408,142 | +€115,848 | +39.6% |
| Equity | 10/15 | -€303,684 | -€307,391 | -€3,706 | -1.2% |
| Contributions | 10/11 | €25,211 | €25,211 | = | 0.0% |
| Reserves | 13 | €2,679 | €2,679 | = | 0.0% |
| Non-distributable reserves | 130/1 | €179 | €179 | = | 0.0% |
| Reserves not available under the articles | 1311 | €179 | €179 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€331,574 | -€335,281 | -€3,706 | -1.1% |
| Amounts payable | 17/49 | €595,978 | €715,533 | +€119,554 | +20.1% |
| Amounts payable after more than one year | 17 | €12,480 | €6,464 | -€6,016 | -48.2% |
| Financial debts | 170/4 | €12,480 | €6,464 | -€6,016 | -48.2% |
| Amounts payable within one year | 42/48 | €583,499 | €709,069 | +€125,570 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €5,878 | €6,016 | +€138 | +2.3% |
| Trade debts | 44 | €238,370 | €360,780 | +€122,410 | +51.4% |
| Suppliers | 440/4 | €238,370 | €360,780 | +€122,410 | +51.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €70,802 | €34,854 | -€35,948 | -50.8% |
| Taxes | 450/3 | €10,833 | €6,094 | -€4,739 | -43.7% |
| Remuneration and social security | 454/9 | €59,969 | €28,761 | -€31,209 | -52.0% |
| Other amounts payable | 47/48 | €268,448 | €307,419 | +€38,970 | +14.5% |
| Non-recurring operating income | 76A | €3,078 | €9 | -€3,069 | -99.7% |
| Remuneration, social security and pensions | 62 | €226,625 | €100,038 | -€126,587 | -55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,600 | €12,528 | -€1,072 | -7.9% |
| Other operating charges | 640/8 | €4,148 | €4,462 | +€313 | +7.6% |
| Non-recurring operating charges | 66A | €46,317 | €4,870 | -€41,447 | -89.5% |
| Gross operating margin | 9900 | €210,149 | €119,833 | -€90,316 | -43.0% |
| Operating profit (loss) | 9901 | -€80,542 | -€2,065 | +€78,477 | +97.4% |
| Financial income | 75/76B | €328 | €62 | -€266 | -81.1% |
| Recurring financial income | 75 | €328 | €62 | -€266 | -81.1% |
| Financial charges | 65/66B | €3,491 | €1,272 | -€2,219 | -63.6% |
| Recurring financial charges | 65 | €3,491 | €1,272 | -€2,219 | -63.6% |
| Profit (loss) for the period before taxes | 9903 | -€83,705 | -€3,274 | +€80,430 | +96.1% |
| Income taxes | 67/77 | €638 | €432 | -€206 | -32.3% |
| Profit (loss) for the period | 9904 | -€84,343 | -€3,706 | +€80,637 | +95.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,343 | -€3,706 | +€80,637 | +95.6% |
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 10 October 2026 via checked.be.