WITH A VIEW: 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.
WITH A VIEW
Largest movements
- Cash -€102,870
down €102,870 (-37.3%), from €275,933 to €173,064
mainly Contributions, distributions and other (-€201,590) and Investment in fixed assets (net) (-€50,803)
- Tangible fixed assets +€37,560
up €37,560 (+357.6%), from €10,504 to €48,064
of which Furniture and vehicles: +€39,774
- Receivables within one year +€13,487
up €13,487 (+20.3%), from €66,580 to €80,068
of which Other amounts receivable: +€13,575
- Reserves -€141,632
down €141,632 (-35.9%), from €394,334 to €252,702
of which Distributable reserves: -€141,632
- Other debts +€111,126
up €111,126 (+1207.5%), from €9,203 to €120,329
- Tax, wage and social debts -€20,791
down €20,791 (-90.1%), from €23,066 to €2,275
- Taxes -€9,073
down €9,073 (-38.3%), from €23,671 to €14,598
- Other operating charges -€8,798
down €8,798 (-92.3%), from €9,528 to €730
- Gross operating margin -€6,141
down €6,141 (-6.5%), from €95,022 to €88,881
- Depreciation +€5,874
up €5,874 (+79.7%), from €7,369 to €13,243
- Write-downs +€1,964
up €1,964, from -€1,964 to €0
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 | €446,919 | €394,849 | -€52,070 | -11.7% |
| Fixed assets | 21/28 | €10,504 | €48,064 | +€37,560 | +357.6% |
| Tangible fixed assets | 22/27 | €10,504 | €48,064 | +€37,560 | +357.6% |
| Land and buildings | 22 | €3,098 | €892 | -€2,206 | -71.2% |
| Plant, machinery and equipment | 23 | €8 | €0 | -€8 | -100.0% |
| Furniture and vehicles | 24 | €7,398 | €47,172 | +€39,774 | +537.6% |
| Current assets | 29/58 | €436,415 | €346,785 | -€89,630 | -20.5% |
| Amounts receivable within one year | 40/41 | €66,580 | €80,068 | +€13,487 | +20.3% |
| Trade receivables | 40 | €54,784 | €54,697 | -€87 | -0.2% |
| Other amounts receivable | 41 | €11,797 | €25,371 | +€13,575 | +115.1% |
| Current investments | 50/53 | €92,748 | €92,748 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €275,933 | €173,064 | -€102,870 | -37.3% |
| Deferred charges and accrued income | 490/1 | €1,153 | €905 | -€247 | -21.5% |
| Total equity and liabilities | 10/49 | €446,919 | €394,849 | -€52,070 | -11.7% |
| Equity | 10/15 | €412,934 | €271,302 | -€141,632 | -34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €394,334 | €252,702 | -€141,632 | -35.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €392,474 | €250,842 | -€141,632 | -36.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €33,985 | €123,547 | +€89,562 | +263.5% |
| Amounts payable within one year | 42/48 | €33,985 | €123,547 | +€89,562 | +263.5% |
| Trade debts | 44 | €1,716 | €943 | -€773 | -45.0% |
| Suppliers | 440/4 | €1,716 | €943 | -€773 | -45.0% |
| Taxes, remuneration and social security | 45 | €23,066 | €2,275 | -€20,791 | -90.1% |
| Taxes | 450/3 | €23,066 | €2,275 | -€20,791 | -90.1% |
| Other amounts payable | 47/48 | €9,203 | €120,329 | +€111,126 | +1207.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,369 | €13,243 | +€5,874 | +79.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,964 | €0 | +€1,964 | |
| Other operating charges | 640/8 | €9,528 | €730 | -€8,798 | -92.3% |
| Gross operating margin | 9900 | €95,022 | €88,881 | -€6,141 | -6.5% |
| Operating profit (loss) | 9901 | €80,089 | €74,908 | -€5,181 | -6.5% |
| Financial income | 75/76B | €378 | €0 | -€378 | -100.0% |
| Recurring financial income | 75 | €378 | €0 | -€378 | -100.0% |
| Financial charges | 65/66B | €669 | €352 | -€316 | -47.3% |
| Recurring financial charges | 65 | €669 | €352 | -€316 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €79,798 | €74,556 | -€5,242 | -6.6% |
| Income taxes | 67/77 | €23,671 | €14,598 | -€9,073 | -38.3% |
| Profit (loss) for the period | 9904 | €56,128 | €59,958 | +€3,831 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,128 | €59,958 | +€3,831 | +6.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.