12 to 15: 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.
12 to 15
Largest movements
- Cash +€147,099
up €147,099 (+567%), from €25,964 to €173,063
mainly Net result for the year (+€163,751) and Receivables within one year (+€31,641)
- Current investments +€45,272
up €45,272 (+38.0%), from €119,056 to €164,328
- Receivables within one year -€31,641
down €31,641 (-94.6%), from €33,450 to €1,809
of which Trade receivables: -€26,391
- Tangible fixed assets -€11,415
down €11,415 (-16.5%), from €69,245 to €57,830
of which Furniture and vehicles: -€10,836
- Profit (loss) carried forward +€163,751
up €163,751 (+97.1%), from €168,696 to €332,446
- Trade debts -€26,895
down €26,895 (-99.8%), from €26,945 to €50
- Tax, wage and social debts +€20,619
up €20,619 (+65.3%), from €31,553 to €52,172
of which Taxes: +€21,180
- Debts after one year -€8,533
down €8,533 (-74.5%), from €11,446 to €2,914
- Gross operating margin +€74,540
up €74,540 (+49.4%), from €150,998 to €225,538
- Taxes +€23,141
up €23,141 (+81.2%), from €28,500 to €51,640
- Financial income +€7,912
up €7,912 (+5,024%), from €157 to €8,069
- Depreciation -€3,235
down €3,235 (-15.9%), from €20,347 to €17,112
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €249,074 | €398,426 | +€149,351 | +60.0% |
| Fixed assets | 21/28 | €69,245 | €57,830 | -€11,415 | -16.5% |
| Tangible fixed assets | 22/27 | €69,245 | €57,830 | -€11,415 | -16.5% |
| Plant, machinery and equipment | 23 | €3,779 | €3,200 | -€579 | -15.3% |
| Furniture and vehicles | 24 | €65,466 | €54,630 | -€10,836 | -16.6% |
| Current assets | 29/58 | €179,829 | €340,596 | +€160,766 | +89.4% |
| Amounts receivable within one year | 40/41 | €33,450 | €1,809 | -€31,641 | -94.6% |
| Trade receivables | 40 | €26,391 | - | -€26,391 | |
| Other amounts receivable | 41 | €7,059 | €1,809 | -€5,250 | -74.4% |
| Current investments | 50/53 | €119,056 | €164,328 | +€45,272 | +38.0% |
| Cash at bank and in hand | 54/58 | €25,964 | €173,063 | +€147,099 | +567% |
| Deferred charges and accrued income | 490/1 | €1,359 | €1,396 | +€37 | +2.7% |
| Total equity and liabilities | 10/49 | €249,074 | €398,426 | +€149,351 | +60.0% |
| Equity | 10/15 | €170,696 | €334,446 | +€163,751 | +95.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,696 | €332,446 | +€163,751 | +97.1% |
| Amounts payable | 17/49 | €78,379 | €63,979 | -€14,399 | -18.4% |
| Amounts payable after more than one year | 17 | €11,446 | €2,914 | -€8,533 | -74.5% |
| Financial debts | 170/4 | €11,446 | €2,914 | -€8,533 | -74.5% |
| Amounts payable within one year | 42/48 | €66,932 | €61,066 | -€5,867 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €8,230 | €8,533 | +€303 | +3.7% |
| Trade debts | 44 | €26,945 | €50 | -€26,895 | -99.8% |
| Suppliers | 440/4 | €26,945 | €50 | -€26,895 | -99.8% |
| Taxes, remuneration and social security | 45 | €31,553 | €52,172 | +€20,619 | +65.3% |
| Taxes | 450/3 | €30,929 | €52,109 | +€21,180 | +68.5% |
| Remuneration and social security | 454/9 | €624 | €63 | -€560 | -89.9% |
| Other amounts payable | 47/48 | €204 | €311 | +€107 | +52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,347 | €17,112 | -€3,235 | -15.9% |
| Other operating charges | 640/8 | €783 | €387 | -€396 | -50.5% |
| Gross operating margin | 9900 | €150,998 | €225,538 | +€74,540 | +49.4% |
| Operating profit (loss) | 9901 | €129,868 | €208,039 | +€78,171 | +60.2% |
| Financial income | 75/76B | €157 | €8,069 | +€7,912 | +5,024% |
| Recurring financial income | 75 | €157 | €8,069 | +€7,912 | +5,024% |
| Financial charges | 65/66B | €825 | €717 | -€108 | -13.1% |
| Recurring financial charges | 65 | €825 | €717 | -€108 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €129,200 | €215,391 | +€86,191 | +66.7% |
| Income taxes | 67/77 | €28,500 | €51,640 | +€23,141 | +81.2% |
| Profit (loss) for the period | 9904 | €100,700 | €163,751 | +€63,050 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,700 | €163,751 | +€63,050 | +62.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.