WRONG: 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.
WRONG
Largest movements
- Receivables within one year -€19,688
down €19,688 (-56.5%), from €34,850 to €15,162
of which Trade receivables: -€24,167
- Tangible fixed assets -€12,946
down €12,946 (-17.8%), from €72,626 to €59,680
of which Furniture and vehicles: -€11,601
- Cash -€6,554
down €6,554 (-16.9%), from €38,680 to €32,126
mainly Tax, wage and social debts (-€14,397) and Contributions, distributions and other (-€14,222)
- Tax, wage and social debts -€14,397
down €14,397 (-68.4%), from €21,033 to €6,636
- Reserves -€14,222
down €14,222 (-27.5%), from €51,688 to €37,466
- Debts after one year -€11,455
down €11,455 (-25.8%), from €44,455 to €33,001
- Short-term financial debts +€2,222
new in 2025: €2,222
- Profit (loss) carried forward -€1,807
down €1,807 (-32.3%), from €5,595 to €3,788
- Gross operating margin -€37,131
down €37,131 (-67.0%), from €55,426 to €18,295
- Taxes -€11,700
down €11,700 (-98.0%), from €11,943 to €243
- Depreciation +€7,117
up €7,117 (+72.9%), from €9,757 to €16,874
- Write-downs -€2,981
no longer reported in 2025 (was €2,981)
- Financial charges +€1,339
up €1,339 (+124.1%), from €1,079 to €2,418
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 | €146,155 | €106,967 | -€39,188 | -26.8% |
| Fixed assets | 21/28 | €72,626 | €59,680 | -€12,946 | -17.8% |
| Tangible fixed assets | 22/27 | €72,626 | €59,680 | -€12,946 | -17.8% |
| Land and buildings | 22 | €5,475 | €4,765 | -€710 | -13.0% |
| Plant, machinery and equipment | 23 | €635 | - | -€635 | |
| Furniture and vehicles | 24 | €66,516 | €54,915 | -€11,601 | -17.4% |
| Current assets | 29/58 | €73,530 | €47,287 | -€26,242 | -35.7% |
| Amounts receivable within one year | 40/41 | €34,850 | €15,162 | -€19,688 | -56.5% |
| Trade receivables | 40 | €33,016 | €8,848 | -€24,167 | -73.2% |
| Other amounts receivable | 41 | €1,834 | €6,313 | +€4,479 | +244.2% |
| Cash at bank and in hand | 54/58 | €38,680 | €32,126 | -€6,554 | -16.9% |
| Total equity and liabilities | 10/49 | €146,155 | €106,967 | -€39,188 | -26.8% |
| Equity | 10/15 | €69,683 | €53,654 | -€16,029 | -23.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €51,688 | €37,466 | -€14,222 | -27.5% |
| Distributable reserves | 133 | €51,688 | €37,466 | -€14,222 | -27.5% |
| Profit (loss) carried forward | 14 | €5,595 | €3,788 | -€1,807 | -32.3% |
| Amounts payable | 17/49 | €76,473 | €53,314 | -€23,159 | -30.3% |
| Amounts payable after more than one year | 17 | €44,455 | €33,001 | -€11,455 | -25.8% |
| Financial debts | 170/4 | €44,455 | €33,001 | -€11,455 | -25.8% |
| Amounts payable within one year | 42/48 | €32,018 | €20,313 | -€11,705 | -36.6% |
| Current portion of amounts payable after more than one year | 42 | €10,984 | €11,455 | +€470 | +4.3% |
| Financial debts | 43 | - | €2,222 | +€2,222 | |
| Credit institutions | 430/8 | - | €2,222 | +€2,222 | |
| Trade debts | 44 | - | €0 | +€0 | |
| Suppliers | 440/4 | - | €0 | +€0 | |
| Taxes, remuneration and social security | 45 | €21,033 | €6,636 | -€14,397 | -68.4% |
| Taxes | 450/3 | €21,033 | €6,636 | -€14,397 | -68.4% |
| Non-recurring operating income | 76A | €3,810 | - | -€3,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,757 | €16,874 | +€7,117 | +72.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,981 | - | -€2,981 | |
| Other operating charges | 640/8 | €1,085 | €867 | -€218 | -20.1% |
| Gross operating margin | 9900 | €55,426 | €18,295 | -€37,131 | -67.0% |
| Operating profit (loss) | 9901 | €41,603 | €554 | -€41,049 | -98.7% |
| Financial income | 75/76B | - | €300 | +€300 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €300 | +€300 | |
| Financial charges | 65/66B | €1,079 | €2,418 | +€1,339 | +124.1% |
| Recurring financial charges | 65 | €1,079 | €2,418 | +€1,339 | +124.1% |
| Profit (loss) for the period before taxes | 9903 | €40,524 | -€1,564 | -€42,088 | |
| Income taxes | 67/77 | €11,943 | €243 | -€11,700 | -98.0% |
| Profit (loss) for the period | 9904 | €28,581 | -€1,807 | -€30,388 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,581 | -€1,807 | -€30,388 |
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 9 October 2026 via checked.be.