A. Daoût: 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. Daoût
Largest movements
- Cash -€85,141
down €85,141 (-40.3%), from €211,153 to €126,012
mainly Other debts (-€101,988) and Investment in fixed assets (net) (-€35,422)
- Tangible fixed assets +€29,850
up €29,850 (+379%), from €7,875 to €37,725
of which Furniture and vehicles: +€29,964
- Intangible fixed assets -€15,500
down €15,500 (-30.8%), from €50,375 to €34,875
- Receivables within one year -€8,253
down €8,253 (-14.4%), from €57,133 to €48,880
of which Trade receivables: -€8,526
- Other debts -€101,988
down €101,988 (-80.8%), from €126,243 to €24,255
- Reserves +€53,450
up €53,450 (+21.5%), from €248,273 to €301,723
- Trade debts -€20,966
down €20,966 (-70.0%), from €29,951 to €8,985
- Debts after one year -€9,865
no longer reported in 2025 (was €9,865)
- Gross operating margin +€15,943
up €15,943 (+19.3%), from €82,803 to €98,746
- Financial income -€10,233
down €10,233 (-99.9%), from €10,241 to €8
- Depreciation +€3,199
up €3,199 (+17.9%), from €17,873 to €21,072
- Other operating charges +€1,114
up €1,114 (+109%), from €1,018 to €2,132
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 | €453,749 | €376,649 | -€77,100 | -17.0% |
| Fixed assets | 21/28 | €185,250 | €199,600 | +€14,350 | +7.7% |
| Intangible fixed assets | 21 | €50,375 | €34,875 | -€15,500 | -30.8% |
| Tangible fixed assets | 22/27 | €7,875 | €37,725 | +€29,850 | +379% |
| Furniture and vehicles | 24 | €7,685 | €37,649 | +€29,964 | +390% |
| Other tangible fixed assets | 26 | €190 | €76 | -€114 | -60.0% |
| Financial fixed assets | 28 | €127,000 | €127,000 | = | 0.0% |
| Current assets | 29/58 | €268,499 | €177,049 | -€91,450 | -34.1% |
| Amounts receivable within one year | 40/41 | €57,133 | €48,880 | -€8,253 | -14.4% |
| Trade receivables | 40 | €48,309 | €39,783 | -€8,526 | -17.6% |
| Other amounts receivable | 41 | €8,824 | €9,097 | +€273 | +3.1% |
| Cash at bank and in hand | 54/58 | €211,153 | €126,012 | -€85,141 | -40.3% |
| Deferred charges and accrued income | 490/1 | €213 | €2,157 | +€1,944 | +913% |
| Total equity and liabilities | 10/49 | €453,749 | €376,649 | -€77,100 | -17.0% |
| Equity | 10/15 | €260,673 | €314,123 | +€53,450 | +20.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €248,273 | €301,723 | +€53,450 | +21.5% |
| Distributable reserves | 133 | €248,273 | €301,723 | +€53,450 | +21.5% |
| Amounts payable | 17/49 | €193,076 | €62,526 | -€130,550 | -67.6% |
| Amounts payable after more than one year | 17 | €9,865 | - | -€9,865 | |
| Financial debts | 170/4 | €9,865 | - | -€9,865 | |
| Amounts payable within one year | 42/48 | €183,211 | €60,238 | -€122,973 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €13,604 | €9,865 | -€3,739 | -27.5% |
| Trade debts | 44 | €29,951 | €8,985 | -€20,966 | -70.0% |
| Suppliers | 440/4 | €29,951 | €8,985 | -€20,966 | -70.0% |
| Taxes, remuneration and social security | 45 | €13,413 | €17,133 | +€3,720 | +27.7% |
| Taxes | 450/3 | €13,413 | €17,133 | +€3,720 | +27.7% |
| Other amounts payable | 47/48 | €126,243 | €24,255 | -€101,988 | -80.8% |
| Accrued charges and deferred income | 492/3 | - | €2,288 | +€2,288 | |
| Non-recurring operating income | 76A | - | €5,520 | +€5,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,873 | €21,072 | +€3,199 | +17.9% |
| Other operating charges | 640/8 | €1,018 | €2,132 | +€1,114 | +109% |
| Gross operating margin | 9900 | €82,803 | €98,746 | +€15,943 | +19.3% |
| Operating profit (loss) | 9901 | €63,912 | €75,542 | +€11,630 | +18.2% |
| Financial income | 75/76B | €10,241 | €8 | -€10,233 | -99.9% |
| Recurring financial income | 75 | €10,241 | €8 | -€10,233 | -99.9% |
| Financial charges | 65/66B | €953 | €852 | -€101 | -10.6% |
| Recurring financial charges | 65 | €953 | €852 | -€101 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €73,200 | €74,698 | +€1,498 | +2.0% |
| Income taxes | 67/77 | €21,360 | €21,248 | -€112 | -0.5% |
| Profit (loss) for the period | 9904 | €51,840 | €53,450 | +€1,610 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,840 | €53,450 | +€1,610 | +3.1% |
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 17 October 2026 via checked.be.