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August 10: 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

August 10

BE 0790.293.345
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€27,847
2024 · €12,778+€15,069
Equity
€51,587
2024 · €23,740+€27,847
Cash
€10,633
2024 · €12,188-€1,556
Balance sheet total
€64,277
2024 · €42,685+€21,592

Largest movements

2024 to 2025
Assets
  • Receivables within one year +€16,432

    up €16,432 (+130%), from €12,598 to €29,030

    of which Trade receivables: +€10,088

  • Tangible fixed assets +€6,373

    up €6,373 (+36.4%), from €17,500 to €23,873

  • Cash -€1,556

    down €1,556 (-12.8%), from €12,188 to €10,633

    mainly Receivables within one year (-€16,432) and Debts after one year (-€11,652)

Equity and liabilities
  • Profit (loss) carried forward +€27,847

    up €27,847 (+134%), from €20,740 to €48,587

  • Debts after one year -€11,652

    down €11,652 (-100%), from €11,652 to €0

  • Tax, wage and social debts +€5,513

    up €5,513 (+120%), from €4,592 to €10,104

    of which Taxes: +€3,800

Income statement
  • Gross operating margin +€11,724

    up €11,724 (+36.5%), from €32,093 to €43,818

  • Depreciation -€6,379

    down €6,379 (-61.3%), from €10,404 to €4,025

  • Taxes +€4,033

    up €4,033 (+115%), from €3,506 to €7,539

  • Financial charges -€737

    down €737 (-89.3%), from €825 to €88

From the 2024 result to the 2025 result

effect on the 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 €12,778
Gross operating margin +€11,724
Depreciation +€6,379
Other operating charges +€188
Financial income +€74
Financial charges +€737
Taxes -€4,033
Result 2025 €27,847
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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 +€20,494
Investment -€10,399
Financing -€11,652
Cash 2024 €12,188
Net result for the year +€27,847
Depreciation +€4,025
Receivables within one year -€16,432
Deferred charges and accrued income -€343
Trade debts -€115
Tax, wage and social debts +€5,513
Investment in fixed assets (net) -€10,399
Debts after one year -€11,652
Cash 2025 €10,633
brings cash intakes cash out
Every line side by side 38 lines
Line Code 2024 2025 Change %
Total assets 20/58 €42,685 €64,277 +€21,592 +50.6%
Fixed assets 21/28 €17,500 €23,873 +€6,373 +36.4%
Tangible fixed assets 22/27 €17,500 €23,873 +€6,373 +36.4%
Furniture and vehicles 24 €17,500 €23,873 +€6,373 +36.4%
Current assets 29/58 €25,185 €40,404 +€15,219 +60.4%
Amounts receivable after more than one year 29 €0 - =
Other amounts receivable 291 €0 - =
Amounts receivable within one year 40/41 €12,598 €29,030 +€16,432 +130%
Trade receivables 40 €11,603 €21,691 +€10,088 +86.9%
Other amounts receivable 41 €994 €7,338 +€6,344 +638%
Cash at bank and in hand 54/58 €12,188 €10,633 -€1,556 -12.8%
Deferred charges and accrued income 490/1 €399 €742 +€343 +85.8%
Total equity and liabilities 10/49 €42,685 €64,277 +€21,592 +50.6%
Equity 10/15 €23,740 €51,587 +€27,847 +117%
Contributions 10/11 €3,000 €3,000 = 0.0%
Profit (loss) carried forward 14 €20,740 €48,587 +€27,847 +134%
Amounts payable 17/49 €18,945 €12,691 -€6,254 -33.0%
Amounts payable after more than one year 17 €11,652 €0 -€11,652 -100%
Financial debts 170/4 €11,652 €0 -€11,652 -100%
Amounts payable within one year 42/48 €6,541 €11,939 +€5,397 +82.5%
Trade debts 44 €1,950 €1,835 -€115 -5.9%
Suppliers 440/4 €1,950 €1,835 -€115 -5.9%
Taxes, remuneration and social security 45 €4,592 €10,104 +€5,513 +120%
Taxes 450/3 €4,592 €8,391 +€3,800 +82.8%
Remuneration and social security 454/9 €0 €1,713 +€1,713
Accrued charges and deferred income 492/3 €752 €752 = 0.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €10,404 €4,025 -€6,379 -61.3%
Other operating charges 640/8 €4,581 €4,393 -€188 -4.1%
Gross operating margin 9900 €32,093 €43,818 +€11,724 +36.5%
Operating profit (loss) 9901 €17,108 €35,400 +€18,292 +107%
Financial income 75/76B €0 €74 +€74
Recurring financial income 75 €0 €74 +€74
Financial charges 65/66B €825 €88 -€737 -89.3%
Recurring financial charges 65 €825 €88 -€737 -89.3%
Profit (loss) for the period before taxes 9903 €16,283 €35,385 +€19,102 +117%
Income taxes 67/77 €3,506 €7,539 +€4,033 +115%
Profit (loss) for the period 9904 €12,778 €27,847 +€15,069 +118%
Profit (loss) for the period to be appropriated 9905 €12,778 €27,847 +€15,069 +118%

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 24 October 2026 via checked.be.