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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.

What changed

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fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€11,065
2024 · -€13,595+€2,530
Equity
-€28,266
2024 · -€17,200-€11,065
Cash
€3,080
2024 · €10,914-€7,834
Balance sheet total
€30,674
2024 · €16,234+€14,440

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets +€22,564

    up €22,564 (+6694.6%), from €337 to €22,901

  • Cash -€7,834

    down €7,834 (-71.8%), from €10,914 to €3,080

    mainly Investment in fixed assets (net) (-€23,987) and Net result for the year (-€11,065)

Equity and liabilities
  • Other debts +€25,207

    up €25,207 (+76.5%), from €32,937 to €58,144

  • Profit (loss) carried forward -€11,065

    down €11,065 (-47.3%), from -€23,406 to -€34,471

  • Tax, wage and social debts +€327

    up €327, from €0 to €327

Income statement
  • Gross operating margin +€6,376

    up €6,376 (+46.6%), from -€13,678 to -€7,302

  • Taxes +€2,106

    up €2,106, from -€1,652 to €454

  • Depreciation +€1,314

    up €1,314 (+1206.3%), from €109 to €1,423

  • Other operating charges +€651

    up €651 (+75.1%), from €867 to €1,518

  • Financial charges -€224

    down €224 (-37.9%), from €592 to €368

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 -€13,595
Gross operating margin +€6,376
Depreciation -€1,314
Other operating charges -€651
Financial charges +€224
Taxes -€2,106
Result 2025 -€11,065

Cash bridge derived

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 +€16,153
Investment -€23,987
Financing €0
Cash 2024 €10,914
Net result for the year -€11,065
Depreciation +€1,423
Receivables within one year +€290
Trade debts -€28
Tax, wage and social debts +€327
Other debts +€25,207
Investment in fixed assets (net) -€23,987
Cash 2025 €3,080
Every line side by side 34 lines
Line Code 2024 2025 Change %
Total assets 20/58 €16,234 €30,674 +€14,440 +88.9%
Fixed assets 21/28 €337 €22,901 +€22,564 +6694.6%
Tangible fixed assets 22/27 €337 €22,901 +€22,564 +6694.6%
Furniture and vehicles 24 €337 €22,901 +€22,564 +6694.6%
Current assets 29/58 €15,897 €7,773 -€8,124 -51.1%
Amounts receivable within one year 40/41 €483 €194 -€290 -59.9%
Trade receivables 40 €0 - =
Other amounts receivable 41 €483 €194 -€290 -59.9%
Cash at bank and in hand 54/58 €10,914 €3,080 -€7,834 -71.8%
Deferred charges and accrued income 490/1 €4,500 €4,500 = 0.0%
Total equity and liabilities 10/49 €16,234 €30,674 +€14,440 +88.9%
Equity 10/15 -€17,200 -€28,266 -€11,065 -64.3%
Contributions 10/11 €6,200 €6,200 = 0.0%
Reserves 13 €6 €6 = 0.0%
Non-distributable reserves 130/1 €6 €6 = 0.0%
Reserves not available under the articles 1311 €6 €6 = 0.0%
Profit (loss) carried forward 14 -€23,406 -€34,471 -€11,065 -47.3%
Amounts payable 17/49 €33,435 €58,940 +€25,505 +76.3%
Amounts payable within one year 42/48 €33,435 €58,940 +€25,505 +76.3%
Trade debts 44 €498 €469 -€28 -5.7%
Suppliers 440/4 €498 €469 -€28 -5.7%
Taxes, remuneration and social security 45 €0 €327 +€327
Taxes 450/3 €0 €327 +€327
Other amounts payable 47/48 €32,937 €58,144 +€25,207 +76.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €109 €1,423 +€1,314 +1206.3%
Other operating charges 640/8 €867 €1,518 +€651 +75.1%
Gross operating margin 9900 -€13,678 -€7,302 +€6,376 +46.6%
Operating profit (loss) 9901 -€14,654 -€10,243 +€4,411 +30.1%
Financial charges 65/66B €592 €368 -€224 -37.9%
Recurring financial charges 65 €592 €368 -€224 -37.9%
Profit (loss) for the period before taxes 9903 -€15,247 -€10,611 +€4,635 +30.4%
Income taxes 67/77 -€1,652 €454 +€2,106
Profit (loss) for the period 9904 -€13,595 -€11,065 +€2,530 +18.6%
Profit (loss) for the period to be appropriated 9905 -€13,595 -€11,065 +€2,530 +18.6%

Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.