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.
Vmotion
Largest movements
- Cash -€49,287
down €49,287 (-73.7%), from €66,901 to €17,614
mainly Other debts (-€41,222) and Investment in fixed assets (net) (-€20,499)
- Tangible fixed assets +€9,074
up €9,074 (+27.5%), from €33,027 to €42,101
- Receivables within one year -€2,249
down €2,249 (-17.1%), from €13,139 to €10,890
of which Trade receivables: -€2,249
- Other debts -€41,222
down €41,222 (-86.9%), from €47,440 to €6,218
- Debts after one year -€6,946
down €6,946 (-30.3%), from €22,931 to €15,985
- Reserves +€3,022
up €3,022 (+134.6%), from €2,246 to €5,268
of which Distributable reserves: +€3,022
- Trade debts +€2,944
up €2,944 (+376.3%), from €782 to €3,726
- Gross operating margin -€14,228
down €14,228 (-30.5%), from €46,696 to €32,469
- Depreciation +€3,831
up €3,831 (+50.4%), from €7,595 to €11,426
- Taxes -€3,345
down €3,345 (-41.7%), from €8,020 to €4,675
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 | €113,917 | €71,224 | -€42,694 | -37.5% |
| Fixed assets | 21/28 | €33,027 | €42,101 | +€9,074 | +27.5% |
| Tangible fixed assets | 22/27 | €33,027 | €42,101 | +€9,074 | +27.5% |
| Furniture and vehicles | 24 | €33,027 | €42,101 | +€9,074 | +27.5% |
| Current assets | 29/58 | €80,890 | €29,123 | -€51,767 | -64.0% |
| Amounts receivable within one year | 40/41 | €13,139 | €10,890 | -€2,249 | -17.1% |
| Trade receivables | 40 | €13,139 | €10,890 | -€2,249 | -17.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €66,901 | €17,614 | -€49,287 | -73.7% |
| Deferred charges and accrued income | 490/1 | €851 | €619 | -€232 | -27.2% |
| Total equity and liabilities | 10/49 | €113,917 | €71,224 | -€42,694 | -37.5% |
| Equity | 10/15 | €20,796 | €23,818 | +€3,022 | +14.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,246 | €5,268 | +€3,022 | +134.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €391 | €3,413 | +€3,022 | +773.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,122 | €47,406 | -€45,716 | -49.1% |
| Amounts payable after more than one year | 17 | €22,931 | €15,985 | -€6,946 | -30.3% |
| Financial debts | 170/4 | €22,931 | €15,985 | -€6,946 | -30.3% |
| Amounts payable within one year | 42/48 | €67,691 | €28,921 | -€38,770 | -57.3% |
| Current portion of amounts payable after more than one year | 42 | €6,687 | €6,946 | +€259 | +3.9% |
| Trade debts | 44 | €782 | €3,726 | +€2,944 | +376.3% |
| Suppliers | 440/4 | €782 | €3,726 | +€2,944 | +376.3% |
| Taxes, remuneration and social security | 45 | €12,782 | €12,032 | -€750 | -5.9% |
| Taxes | 450/3 | €9,698 | €12,032 | +€2,334 | +24.1% |
| Remuneration and social security | 454/9 | €3,084 | €0 | -€3,084 | -100.0% |
| Other amounts payable | 47/48 | €47,440 | €6,218 | -€41,222 | -86.9% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,595 | €11,426 | +€3,831 | +50.4% |
| Other operating charges | 640/8 | €1,321 | €1,196 | -€124 | -9.4% |
| Gross operating margin | 9900 | €46,696 | €32,469 | -€14,228 | -30.5% |
| Operating profit (loss) | 9901 | €37,781 | €19,847 | -€17,934 | -47.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,380 | €1,562 | +€182 | +13.2% |
| Recurring financial charges | 65 | €1,380 | €1,562 | +€182 | +13.2% |
| Profit (loss) for the period before taxes | 9903 | €36,401 | €18,285 | -€18,116 | -49.8% |
| Income taxes | 67/77 | €8,020 | €4,675 | -€3,345 | -41.7% |
| Profit (loss) for the period | 9904 | €28,381 | €13,610 | -€14,771 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,381 | €13,610 | -€14,771 | -52.0% |
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 28 September 2026 via checked.be.