A&A: 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.
A&A
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+259%), from €523,948 to €1.9m
of which Other amounts receivable: +€1.3m
- Tangible fixed assets +€995,601
new in 2025: €995,601
of which Land and buildings: +€806,208
- Cash +€232,082
up €232,082 (+2,593%), from €8,951 to €241,033
mainly Contributions, distributions and other (+€1.2m) and Net result for the year (+€883,788)
- Financial fixed assets +€98,000
up €98,000 (+6.5%), from €1.5m to €1.6m
- Reserves +€1.2m
new in 2025: €1.2m
of which Tax-exempt reserves: +€599,700
- Profit (loss) carried forward +€853,120
up €853,120 (+76.8%), from €1.1m to €2.0m
- Provisions +€190,769
new in 2025: €190,769
- Debts after one year +€176,496
up €176,496 (+56.2%), from €314,102 to €490,598
- Current portion of long-term debt +€137,680
up €137,680 (+212%), from €64,814 to €202,495
- Gross operating margin +€1.1m
up €1.1m (+841%), from €129,101 to €1.2m
- Taxes +€79,764
up €79,764 (+296%), from €26,936 to €106,700
- Depreciation +€34,799
new in 2025: €34,799
- Financial income +€17,193
up €17,193 (+431%), from €3,990 to €21,183
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 | €2,041,471 | €4,725,449 | +€2.7m | +131% |
| Fixed assets | 21/28 | €1,508,572 | €2,602,173 | +€1.1m | +72.5% |
| Tangible fixed assets | 22/27 | - | €995,601 | +€995,601 | |
| Land and buildings | 22 | - | €806,208 | +€806,208 | |
| Plant, machinery and equipment | 23 | - | €189,394 | +€189,394 | |
| Financial fixed assets | 28 | €1,508,572 | €1,606,572 | +€98,000 | +6.5% |
| Current assets | 29/58 | €532,899 | €2,123,276 | +€1.6m | +298% |
| Amounts receivable within one year | 40/41 | €523,948 | €1,882,243 | +€1.4m | +259% |
| Trade receivables | 40 | €41,940 | €99,125 | +€57,184 | +136% |
| Other amounts receivable | 41 | €482,008 | €1,783,118 | +€1.3m | +270% |
| Cash at bank and in hand | 54/58 | €8,951 | €241,033 | +€232,082 | +2,593% |
| Total equity and liabilities | 10/49 | €2,041,471 | €4,725,449 | +€2.7m | +131% |
| Equity | 10/15 | €1,310,132 | €3,429,962 | +€2.1m | +162% |
| Contributions | 10/11 | €200,000 | €272,436 | +€72,436 | +36.2% |
| Reserves | 13 | - | €1,194,275 | +€1.2m | |
| Non-distributable reserves | 130/1 | - | €7,244 | +€7,244 | |
| Reserves not available under the articles | 1311 | - | €7,244 | +€7,244 | |
| Tax-exempt reserves | 132 | - | €599,700 | +€599,700 | |
| Distributable reserves | 133 | - | €587,332 | +€587,332 | |
| Profit (loss) carried forward | 14 | €1,110,132 | €1,963,252 | +€853,120 | +76.8% |
| Provisions and deferred taxes | 16 | - | €190,769 | +€190,769 | |
| Deferred taxes | 168 | - | €190,769 | +€190,769 | |
| Amounts payable | 17/49 | €731,339 | €1,104,719 | +€373,380 | +51.1% |
| Amounts payable after more than one year | 17 | €314,102 | €490,598 | +€176,496 | +56.2% |
| Financial debts | 170/4 | €314,102 | €490,598 | +€176,496 | +56.2% |
| Amounts payable within one year | 42/48 | €416,850 | €614,120 | +€197,270 | +47.3% |
| Current portion of amounts payable after more than one year | 42 | €64,814 | €202,495 | +€137,680 | +212% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €24 | €33,974 | +€33,949 | +139,652% |
| Suppliers | 440/4 | €24 | €33,974 | +€33,949 | +139,652% |
| Taxes, remuneration and social security | 45 | €19,270 | €88,300 | +€69,030 | +358% |
| Taxes | 450/3 | €11,820 | €80,850 | +€69,030 | +584% |
| Remuneration and social security | 454/9 | €7,450 | €7,450 | = | 0.0% |
| Other amounts payable | 47/48 | €132,742 | €89,353 | -€43,389 | -32.7% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Non-recurring operating income | 76A | - | €763,074 | +€763,074 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €34,799 | +€34,799 | |
| Other operating charges | 640/8 | €737 | €1,627 | +€890 | +121% |
| Gross operating margin | 9900 | €129,101 | €1,214,545 | +€1.1m | +841% |
| Operating profit (loss) | 9901 | €128,364 | €1,178,119 | +€1.0m | +818% |
| Financial income | 75/76B | €3,990 | €21,183 | +€17,193 | +431% |
| Recurring financial income | 75 | €3,990 | €21,183 | +€17,193 | +431% |
| Financial charges | 65/66B | €6,617 | €18,046 | +€11,429 | +173% |
| Recurring financial charges | 65 | €6,617 | €18,046 | +€11,429 | +173% |
| Profit (loss) for the period before taxes | 9903 | €125,738 | €1,181,257 | +€1.1m | +839% |
| Transfer to deferred taxes | 680 | - | €190,769 | +€190,769 | |
| Income taxes | 67/77 | €26,936 | €106,700 | +€79,764 | +296% |
| Profit (loss) for the period | 9904 | €98,802 | €883,788 | +€784,987 | +795% |
| Transfer to tax-exempt reserves | 689 | - | €572,306 | +€572,306 | |
| Profit (loss) for the period to be appropriated | 9905 | €98,802 | €311,483 | +€212,681 | +215% |
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 28 October 2026 via checked.be.