A C P.V.: 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 C P.V.
Largest movements
- Cash +€73,939
up €73,939 (+25.1%), from €294,461 to €368,400
mainly Depreciation (+€42,026) and Trade debts (+€33,589)
- Tangible fixed assets -€21,526
down €21,526 (-22.2%), from €96,850 to €75,324
of which Furniture and vehicles: -€13,600
- Receivables within one year -€20,116
down €20,116 (-20.2%), from €99,480 to €79,365
of which Trade receivables: -€19,088
- Deferred charges and accrued income -€15,651
down €15,651 (-86.7%), from €18,060 to €2,409
- Trade debts +€33,589
up €33,589 (+51.3%), from €65,494 to €99,084
- Debts after one year -€15,000
down €15,000 (-27.3%), from €55,000 to €40,000
- Reserves +€14,200
up €14,200 (+17.3%), from €82,100 to €96,300
of which Distributable reserves: +€14,200
- Current portion of long-term debt -€10,847
no longer reported in 2025 (was €10,847)
- Depreciation -€20,411
down €20,411 (-32.7%), from €62,437 to €42,026
- Gross operating margin -€7,707
down €7,707 (-1.9%), from €411,030 to €403,322
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 | €509,889 | €526,535 | +€16,646 | +3.3% |
| Fixed assets | 21/28 | €97,888 | €76,362 | -€21,526 | -22.0% |
| Tangible fixed assets | 22/27 | €96,850 | €75,324 | -€21,526 | -22.2% |
| Plant, machinery and equipment | 23 | €39,884 | €32,284 | -€7,600 | -19.1% |
| Furniture and vehicles | 24 | €54,013 | €40,413 | -€13,600 | -25.2% |
| Other tangible fixed assets | 26 | €2,953 | €2,628 | -€325 | -11.0% |
| Financial fixed assets | 28 | €1,038 | €1,038 | = | 0.0% |
| Current assets | 29/58 | €412,001 | €450,173 | +€38,172 | +9.3% |
| Amounts receivable within one year | 40/41 | €99,480 | €79,365 | -€20,116 | -20.2% |
| Trade receivables | 40 | €91,018 | €71,930 | -€19,088 | -21.0% |
| Other amounts receivable | 41 | €8,462 | €7,434 | -€1,027 | -12.1% |
| Cash at bank and in hand | 54/58 | €294,461 | €368,400 | +€73,939 | +25.1% |
| Deferred charges and accrued income | 490/1 | €18,060 | €2,409 | -€15,651 | -86.7% |
| Total equity and liabilities | 10/49 | €509,889 | €526,535 | +€16,646 | +3.3% |
| Equity | 10/15 | €189,853 | €204,299 | +€14,446 | +7.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €82,100 | €96,300 | +€14,200 | +17.3% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €74,100 | €88,300 | +€14,200 | +19.2% |
| Profit (loss) carried forward | 14 | €27,753 | €27,999 | +€246 | +0.9% |
| Amounts payable | 17/49 | €320,036 | €322,237 | +€2,201 | +0.7% |
| Amounts payable after more than one year | 17 | €55,000 | €40,000 | -€15,000 | -27.3% |
| Other amounts payable | 178/9 | €55,000 | €40,000 | -€15,000 | -27.3% |
| Amounts payable within one year | 42/48 | €263,386 | €282,237 | +€18,851 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €10,847 | - | -€10,847 | |
| Trade debts | 44 | €65,494 | €99,084 | +€33,589 | +51.3% |
| Suppliers | 440/4 | €65,494 | €99,084 | +€33,589 | +51.3% |
| Taxes, remuneration and social security | 45 | €39,188 | €36,047 | -€3,142 | -8.0% |
| Taxes | 450/3 | €12,822 | €5,887 | -€6,935 | -54.1% |
| Remuneration and social security | 454/9 | €26,366 | €30,160 | +€3,793 | +14.4% |
| Other amounts payable | 47/48 | €147,856 | €147,106 | -€750 | -0.5% |
| Accrued charges and deferred income | 492/3 | €1,650 | - | -€1,650 | |
| Non-recurring operating income | 76A | - | €4,201 | +€4,201 | |
| Remuneration, social security and pensions | 62 | €188,000 | €190,879 | +€2,879 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,437 | €42,026 | -€20,411 | -32.7% |
| Other operating charges | 640/8 | €2,270 | €2,523 | +€253 | +11.1% |
| Non-recurring operating charges | 66A | - | €600 | +€600 | |
| Gross operating margin | 9900 | €411,030 | €403,322 | -€7,707 | -1.9% |
| Operating profit (loss) | 9901 | €158,323 | €167,294 | +€8,972 | +5.7% |
| Financial income | 75/76B | €3,368 | €910 | -€2,459 | -73.0% |
| Recurring financial income | 75 | €3,368 | €910 | -€2,459 | -73.0% |
| Financial charges | 65/66B | €142,594 | €145,482 | +€2,887 | +2.0% |
| Recurring financial charges | 65 | €142,594 | €145,482 | +€2,887 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €19,096 | €22,722 | +€3,626 | +19.0% |
| Income taxes | 67/77 | €7,792 | €8,277 | +€484 | +6.2% |
| Profit (loss) for the period | 9904 | €11,304 | €14,446 | +€3,142 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,304 | €14,446 | +€3,142 | +27.8% |
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 18 October 2026 via checked.be.