EDITO: 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.
What changed
EDITO
NACE 49.320, Non-scheduled passenger transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€127,388
2024 · €69,604+€57,784
Equity
€3.6m
2024 · €3.5m+€127,388
Cash
€116,851
2024 · €170,555-€53,704
Balance sheet total
€8.1m
2024 · €4.8m+€3.3m
Largest movements
Assets
- Financial fixed assets +€1.7m
up €1.7m (+192%), from €875,251 to €2.6m
- Receivables after one year +€1.6m
up €1.6m (+115%), from €1.4m to €3.0m
Equity and liabilities
- Debts after one year +€3.2m
up €3.2m (+385%), from €830,000 to €4.0m
- Profit (loss) carried forward +€127,388
up €127,388 (+16.9%), from €755,759 to €883,146
Income statement
- Financial income +€77,878
up €77,878 (+83.9%), from €92,779 to €170,657
of which Financial income: +€77,878
- Financial charges +€72,761
up €72,761 (+268%), from €27,191 to €99,952
- Gross operating margin +€39,642
up €39,642 (+45.8%), from €86,643 to €126,285
- Taxes -€16,748
down €16,748 (-64.1%), from €26,109 to €9,360
- Other operating charges +€2,891
up €2,891 (+16.1%), from €17,917 to €20,808
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.
Result 2024
€69,604
Gross operating margin
+€39,642
Depreciation
-€833
Other operating charges
-€2,891
Financial income
+€77,878
Financial charges
-€72,761
Taxes
+€16,748
Result 2025
€127,388
raises the resultlowers the result
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.
From operations
-€1.5m
Investment
-€1.8m
Financing
+€3.2m
Cash 2024
€170,555
From operations (derived)
-€1.5m
Net result for the year
+€127,388
Depreciation
+€39,434
Receivables after one year
-€1.6m
Receivables within one year
-€12,685
Smaller working-capital items
+€4,380
Other debts
+€16,194
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
+€3.2m
Debts after one year
+€3.2m
Cash 2025
€116,851
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,803,722 | €8,146,733 | +€3.3m | +69.6% |
| Fixed assets | 21/28 | €2,526,799 | €4,279,779 | +€1.8m | +69.4% |
| Tangible fixed assets | 22/27 | €1,651,548 | €1,724,528 | +€72,981 | +4.4% |
| Land and buildings | 22 | €1,624,603 | €1,703,784 | +€79,181 | +4.9% |
| Furniture and vehicles | 24 | €22,265 | €17,001 | -€5,264 | -23.6% |
| Other tangible fixed assets | 26 | €4,679 | €3,743 | -€936 | -20.0% |
| Financial fixed assets | 28 | €875,251 | €2,555,251 | +€1.7m | +192% |
| Current assets | 29/58 | €2,276,923 | €3,866,954 | +€1.6m | +69.8% |
| Amounts receivable after more than one year | 29 | €1,417,590 | €3,046,590 | +€1.6m | +115% |
| Other amounts receivable | 291 | €1,417,590 | €3,046,590 | +€1.6m | +115% |
| Amounts receivable within one year | 40/41 | €687,893 | €700,578 | +€12,685 | +1.8% |
| Trade receivables | 40 | €58,685 | €70,730 | +€12,045 | +20.5% |
| Other amounts receivable | 41 | €629,208 | €629,848 | +€640 | +0.1% |
| Cash at bank and in hand | 54/58 | €170,555 | €116,851 | -€53,704 | -31.5% |
| Deferred charges and accrued income | 490/1 | €885 | €2,935 | +€2,050 | +232% |
| Total equity and liabilities | 10/49 | €4,803,722 | €8,146,733 | +€3.3m | +69.6% |
| Equity | 10/15 | €3,498,297 | €3,625,684 | +€127,388 | +3.6% |
| Contributions | 10/11 | €2,100,000 | €2,100,000 | = | 0.0% |
| Reserves | 13 | €642,538 | €642,538 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,906 | €12,906 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,906 | €12,906 | = | 0.0% |
| Tax-exempt reserves | 132 | €629,632 | €629,632 | = | 0.0% |
| Profit (loss) carried forward | 14 | €755,759 | €883,146 | +€127,388 | +16.9% |
| Provisions and deferred taxes | 16 | €302,056 | €302,056 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €98,428 | €98,428 | = | 0.0% |
| Pensions and similar obligations | 160 | €98,428 | €98,428 | = | 0.0% |
| Deferred taxes | 168 | €203,627 | €203,627 | = | 0.0% |
| Amounts payable | 17/49 | €1,003,370 | €4,218,993 | +€3.2m | +320% |
| Amounts payable after more than one year | 17 | €830,000 | €4,023,000 | +€3.2m | +385% |
| Financial debts | 170/4 | €830,000 | €4,023,000 | +€3.2m | +385% |
| Amounts payable within one year | 42/48 | €172,380 | €195,993 | +€23,614 | +13.7% |
| Trade debts | 44 | €17,485 | €24,729 | +€7,244 | +41.4% |
| Suppliers | 440/4 | €17,485 | €24,729 | +€7,244 | +41.4% |
| Taxes, remuneration and social security | 45 | €52,176 | €52,352 | +€176 | +0.3% |
| Taxes | 450/3 | €52,176 | €52,352 | +€176 | +0.3% |
| Other amounts payable | 47/48 | €102,718 | €118,912 | +€16,194 | +15.8% |
| Accrued charges and deferred income | 492/3 | €990 | €0 | -€990 | -100% |
| Non-recurring operating income | 76A | €3,865 | €0 | -€3,865 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,601 | €39,434 | +€833 | +2.2% |
| Other operating charges | 640/8 | €17,917 | €20,808 | +€2,891 | +16.1% |
| Gross operating margin | 9900 | €86,643 | €126,285 | +€39,642 | +45.8% |
| Operating profit (loss) | 9901 | €30,125 | €66,043 | +€35,918 | +119% |
| Financial income | 75/76B | €92,779 | €170,657 | +€77,878 | +83.9% |
| Recurring financial income | 75 | €92,779 | €170,657 | +€77,878 | +83.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €27,191 | €99,952 | +€72,761 | +268% |
| Recurring financial charges | 65 | €27,191 | €99,952 | +€72,761 | +268% |
| Profit (loss) for the period before taxes | 9903 | €95,712 | €136,748 | +€41,035 | +42.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €26,109 | €9,360 | -€16,748 | -64.1% |
| Profit (loss) for the period | 9904 | €69,604 | €127,388 | +€57,784 | +83.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €69,604 | €127,388 | +€57,784 | +83.0% |
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 25 October 2026 via checked.be.