5Q: 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.
5Q
Largest movements
- Tangible fixed assets +€3.4m
up €3.4m (+156.8%), from €2.2m to €5.6m
of which Land and buildings: +€3.8m
- Receivables within one year +€701,105
up €701,105 (+1737.3%), from €40,356 to €741,460
of which Trade receivables: +€700,936
- Debts after one year +€3.8m
up €3.8m (+467.8%), from €809,022 to €4.6m
- Other debts +€281,940
up €281,940 (+57.9%), from €486,834 to €768,773
- Profit (loss) carried forward -€230,184
down €230,184 (-14790.0%), from -€1,556 to -€231,740
- Current portion of long-term debt +€142,211
up €142,211 (+125.9%), from €112,937 to €255,148
- Accrued charges and deferred income +€85,404
up €85,404 (+167.1%), from €51,104 to €136,508
- Depreciation +€473,246
up €473,246 (+249.0%), from €190,028 to €663,274
- Financial charges +€105,886
up €105,886 (+124.5%), from €85,051 to €190,937
- Taxes -€80,439
down €80,439 (-99.6%), from €80,740 to €301
- Gross operating margin +€23,776
up €23,776 (+3.7%), from €637,024 to €660,800
- Financial income -€8,547
down €8,547 (-100.0%), from €8,549 to €2
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 | €2,399,155 | €6,513,665 | +€4.1m | +171.5% |
| Fixed assets | 21/28 | €2,180,547 | €5,597,273 | +€3.4m | +156.7% |
| Tangible fixed assets | 22/27 | €2,179,247 | €5,595,973 | +€3.4m | +156.8% |
| Land and buildings | 22 | €1,718,961 | €5,554,446 | +€3.8m | +223.1% |
| Plant, machinery and equipment | 23 | €23,311 | €15,569 | -€7,742 | -33.2% |
| Furniture and vehicles | 24 | €36,976 | €25,959 | -€11,017 | -29.8% |
| Assets under construction and advance payments | 27 | €400,000 | €0 | -€400,000 | -100.0% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €218,608 | €916,392 | +€697,784 | +319.2% |
| Amounts receivable within one year | 40/41 | €40,356 | €741,460 | +€701,105 | +1737.3% |
| Trade receivables | 40 | €40,356 | €741,292 | +€700,936 | +1736.9% |
| Other amounts receivable | 41 | €0 | €169 | +€169 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €173,909 | €114,020 | -€59,889 | -34.4% |
| Deferred charges and accrued income | 490/1 | €4,342 | €60,911 | +€56,568 | +1302.7% |
| Total equity and liabilities | 10/49 | €2,399,155 | €6,513,665 | +€4.1m | +171.5% |
| Equity | 10/15 | €898,444 | €668,260 | -€230,184 | -25.6% |
| Contributions | 10/11 | €900,000 | €900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,556 | -€231,740 | -€230,184 | -14790.0% |
| Amounts payable | 17/49 | €1,500,711 | €5,845,405 | +€4.3m | +289.5% |
| Amounts payable after more than one year | 17 | €809,022 | €4,593,733 | +€3.8m | +467.8% |
| Financial debts | 170/4 | €809,022 | €4,593,733 | +€3.8m | +467.8% |
| Amounts payable within one year | 42/48 | €640,585 | €1,115,165 | +€474,579 | +74.1% |
| Current portion of amounts payable after more than one year | 42 | €112,937 | €255,148 | +€142,211 | +125.9% |
| Trade debts | 44 | €5,439 | €43,535 | +€38,096 | +700.5% |
| Suppliers | 440/4 | €5,439 | €43,535 | +€38,096 | +700.5% |
| Taxes, remuneration and social security | 45 | €35,376 | €47,708 | +€12,332 | +34.9% |
| Taxes | 450/3 | €32,663 | €45,301 | +€12,639 | +38.7% |
| Remuneration and social security | 454/9 | €2,713 | €2,407 | -€307 | -11.3% |
| Other amounts payable | 47/48 | €486,834 | €768,773 | +€281,940 | +57.9% |
| Accrued charges and deferred income | 492/3 | €51,104 | €136,508 | +€85,404 | +167.1% |
| Remuneration, social security and pensions | 62 | €32,537 | €33,335 | +€798 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,028 | €663,274 | +€473,246 | +249.0% |
| Other operating charges | 640/8 | €4,476 | €3,139 | -€1,337 | -29.9% |
| Gross operating margin | 9900 | €637,024 | €660,800 | +€23,776 | +3.7% |
| Operating profit (loss) | 9901 | €409,984 | -€38,948 | -€448,931 | |
| Financial income | 75/76B | €8,549 | €2 | -€8,547 | -100.0% |
| Recurring financial income | 75 | €8,549 | €2 | -€8,547 | -100.0% |
| Financial charges | 65/66B | €85,051 | €190,937 | +€105,886 | +124.5% |
| Recurring financial charges | 65 | €85,051 | €190,937 | +€105,886 | +124.5% |
| Profit (loss) for the period before taxes | 9903 | €333,482 | -€229,883 | -€563,365 | |
| Income taxes | 67/77 | €80,740 | €301 | -€80,439 | -99.6% |
| Profit (loss) for the period | 9904 | €252,742 | -€230,184 | -€482,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €252,742 | -€230,184 | -€482,926 |
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.