A & G: what changed
Two fiscal 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 & G
Largest movements
- Cash +€118,829
up €118,829 (+28.3%), from €419,276 to €538,105
mainly Net result for the year (+€237,196) and Depreciation (+€31,841)
- Receivables within one year -€16,515
down €16,515 (-6.3%), from €261,746 to €245,231
of which Trade receivables: -€11,071
- Reserves +€120,196
up €120,196 (+20.5%), from €587,569 to €707,765
- Trade debts -€36,145
down €36,145 (-66.1%), from €54,673 to €18,528
- Tax, wage and social debts +€28,702
up €28,702 (+64.8%), from €44,323 to €73,025
of which Taxes: +€29,128
- Debts after one year -€17,604
down €17,604 (-72.8%), from €24,176 to €6,572
- Short-term financial debts +€17,218
new in 2025: €17,218
- Gross operating margin +€88,648
up €88,648 (+21.1%), from €419,601 to €508,249
- Taxes +€32,615
up €32,615 (+45.1%), from €72,275 to €104,890
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 | €772,030 | €868,158 | +€96,128 | +12.5% |
| Fixed assets | 21/28 | €75,530 | €67,221 | -€8,309 | -11.0% |
| Tangible fixed assets | 22/27 | €67,993 | €59,684 | -€8,309 | -12.2% |
| Land and buildings | 22 | €2,200 | €5,870 | +€3,670 | +166.8% |
| Plant, machinery and equipment | 23 | €20,891 | €28,005 | +€7,114 | +34.1% |
| Furniture and vehicles | 24 | €44,902 | €25,809 | -€19,093 | -42.5% |
| Financial fixed assets | 28 | €7,537 | €7,537 | = | 0.0% |
| Current assets | 29/58 | €696,500 | €800,937 | +€104,437 | +15.0% |
| Stocks and contracts in progress | 3 | €9,514 | €6,407 | -€3,107 | -32.7% |
| Stocks | 30/36 | €9,514 | €6,407 | -€3,107 | -32.7% |
| Amounts receivable within one year | 40/41 | €261,746 | €245,231 | -€16,515 | -6.3% |
| Trade receivables | 40 | €211,983 | €200,912 | -€11,071 | -5.2% |
| Other amounts receivable | 41 | €49,763 | €44,319 | -€5,444 | -10.9% |
| Cash at bank and in hand | 54/58 | €419,276 | €538,105 | +€118,829 | +28.3% |
| Deferred charges and accrued income | 490/1 | €5,964 | €11,194 | +€5,230 | +87.7% |
| Total equity and liabilities | 10/49 | €772,030 | €868,158 | +€96,128 | +12.5% |
| Equity | 10/15 | €613,464 | €733,660 | +€120,196 | +19.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €587,569 | €707,765 | +€120,196 | +20.5% |
| Distributable reserves | 133 | €587,569 | €707,765 | +€120,196 | +20.5% |
| Profit (loss) carried forward | 14 | €19,695 | €19,695 | = | 0.0% |
| Amounts payable | 17/49 | €158,566 | €134,498 | -€24,068 | -15.2% |
| Amounts payable after more than one year | 17 | €24,176 | €6,572 | -€17,604 | -72.8% |
| Financial debts | 170/4 | €24,176 | €6,572 | -€17,604 | -72.8% |
| Amounts payable within one year | 42/48 | €134,390 | €127,926 | -€6,464 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €19,894 | €19,155 | -€739 | -3.7% |
| Financial debts | 43 | - | €17,218 | +€17,218 | |
| Credit institutions | 430/8 | - | €17,218 | +€17,218 | |
| Trade debts | 44 | €54,673 | €18,528 | -€36,145 | -66.1% |
| Suppliers | 440/4 | €54,673 | €18,528 | -€36,145 | -66.1% |
| Taxes, remuneration and social security | 45 | €44,323 | €73,025 | +€28,702 | +64.8% |
| Taxes | 450/3 | €42,711 | €71,839 | +€29,128 | +68.2% |
| Remuneration and social security | 454/9 | €1,612 | €1,186 | -€426 | -26.4% |
| Other amounts payable | 47/48 | €15,500 | - | -€15,500 | |
| Remuneration, social security and pensions | 62 | €127,857 | €124,261 | -€3,596 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,407 | €31,841 | +€3,434 | +12.1% |
| Other operating charges | 640/8 | €4,951 | €5,707 | +€756 | +15.3% |
| Gross operating margin | 9900 | €419,601 | €508,249 | +€88,648 | +21.1% |
| Operating profit (loss) | 9901 | €258,386 | €346,440 | +€88,054 | +34.1% |
| Financial income | 75/76B | €1,252 | €2,228 | +€976 | +78.0% |
| Recurring financial income | 75 | €1,252 | €2,228 | +€976 | +78.0% |
| Financial charges | 65/66B | €6,894 | €6,582 | -€312 | -4.5% |
| Recurring financial charges | 65 | €6,894 | €6,582 | -€312 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €252,744 | €342,086 | +€89,342 | +35.3% |
| Income taxes | 67/77 | €72,275 | €104,890 | +€32,615 | +45.1% |
| Profit (loss) for the period | 9904 | €180,469 | €237,196 | +€56,727 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €180,469 | €237,196 | +€56,727 | +31.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.