2L: 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.
2L
Largest movements
- Cash +€249,838
up €249,838 (+48.7%), from €513,193 to €763,031
mainly Net result for the year (+€211,200) and Current investments (+€151,755)
- Current investments -€151,755
down €151,755 (-10.0%), from €1.5m to €1.4m
- Tangible fixed assets -€61,087
down €61,087 (-13.3%), from €459,464 to €398,377
of which Land and buildings: -€61,364
- Receivables within one year -€38,463
down €38,463 (-65.1%), from €59,070 to €20,607
of which Trade receivables: -€55,177
- Reserves +€211,200
up €211,200 (+10.1%), from €2.1m to €2.3m
- Other debts -€116,571
down €116,571 (-67.8%), from €171,812 to €55,242
- Trade debts -€69,748
down €69,748 (-96.2%), from €72,476 to €2,728
- Tax, wage and social debts -€26,771
down €26,771 (-29.2%), from €91,721 to €64,951
- Turnover +€379,753
new in 2025: €379,753
- Gross operating margin -€363,268
down €363,268 (-52.5%), from €691,698 to €328,430
- Taxes -€105,203
down €105,203 (-51.0%), from €206,332 to €101,129
- Purchases and services +€78,113
new in 2025: €78,113
- Financial income +€23,638
up €23,638 (+60.7%), from €38,919 to €62,557
of which Financial income: +€24,181
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 | €2,543,151 | €2,540,426 | -€2,725 | -0.1% |
| Fixed assets | 21/28 | €459,464 | €398,377 | -€61,087 | -13.3% |
| Tangible fixed assets | 22/27 | €459,464 | €398,377 | -€61,087 | -13.3% |
| Land and buildings | 22 | €451,175 | €389,811 | -€61,364 | -13.6% |
| Plant, machinery and equipment | 23 | €2,241 | €1,750 | -€492 | -21.9% |
| Furniture and vehicles | 24 | €6,048 | €6,816 | +€768 | +12.7% |
| Current assets | 29/58 | €2,083,686 | €2,142,049 | +€58,362 | +2.8% |
| Amounts receivable within one year | 40/41 | €59,070 | €20,607 | -€38,463 | -65.1% |
| Trade receivables | 40 | €59,070 | €3,893 | -€55,177 | -93.4% |
| Other amounts receivable | 41 | - | €16,714 | +€16,714 | |
| Current investments | 50/53 | €1,510,103 | €1,358,348 | -€151,755 | -10.0% |
| Cash at bank and in hand | 54/58 | €513,193 | €763,031 | +€249,838 | +48.7% |
| Deferred charges and accrued income | 490/1 | €1,320 | €62 | -€1,258 | -95.3% |
| Total equity and liabilities | 10/49 | €2,543,151 | €2,540,426 | -€2,725 | -0.1% |
| Equity | 10/15 | €2,206,306 | €2,417,506 | +€211,200 | +9.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €2,086,306 | €2,297,506 | +€211,200 | +10.1% |
| Distributable reserves | 133 | €2,086,306 | €2,297,506 | +€211,200 | +10.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €336,845 | €122,920 | -€213,925 | -63.5% |
| Amounts payable within one year | 42/48 | €336,009 | €122,920 | -€213,089 | -63.4% |
| Trade debts | 44 | €72,476 | €2,728 | -€69,748 | -96.2% |
| Suppliers | 440/4 | €72,476 | €2,728 | -€69,748 | -96.2% |
| Taxes, remuneration and social security | 45 | €91,721 | €64,951 | -€26,771 | -29.2% |
| Taxes | 450/3 | €91,721 | €64,951 | -€26,771 | -29.2% |
| Other amounts payable | 47/48 | €171,812 | €55,242 | -€116,571 | -67.8% |
| Accrued charges and deferred income | 492/3 | €836 | - | -€836 | |
| Turnover | 70 | - | €379,753 | +€379,753 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €78,113 | +€78,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,997 | €64,395 | -€6,603 | -9.3% |
| Other operating charges | 640/8 | €5,996 | €5,278 | -€718 | -12.0% |
| Gross operating margin | 9900 | €691,698 | €328,430 | -€363,268 | -52.5% |
| Operating profit (loss) | 9901 | €614,705 | €258,757 | -€355,948 | -57.9% |
| Financial income | 75/76B | €38,919 | €62,557 | +€23,638 | +60.7% |
| Recurring financial income | 75 | €36,689 | €60,871 | +€24,181 | +65.9% |
| Non-recurring financial income | 76B | €2,230 | €1,687 | -€543 | -24.4% |
| Financial charges | 65/66B | €8,196 | €8,985 | +€789 | +9.6% |
| Recurring financial charges | 65 | €8,196 | €8,985 | +€789 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €645,428 | €312,329 | -€333,099 | -51.6% |
| Income taxes | 67/77 | €206,332 | €101,129 | -€105,203 | -51.0% |
| Profit (loss) for the period | 9904 | €439,096 | €211,200 | -€227,896 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €439,096 | €211,200 | -€227,896 | -51.9% |
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 11 October 2026 via checked.be.