AA & O: 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.
AA & O
Largest movements
- Receivables within one year -€95,023
down €95,023 (-74.2%), from €128,027 to €33,004
of which Trade receivables: -€110,481
- Cash +€89,339
up €89,339 (+79.0%), from €113,112 to €202,452
mainly Receivables within one year (+€95,023) and Net result for the year (+€36,161)
- Tangible fixed assets -€9,331
down €9,331 (-31.3%), from €29,828 to €20,497
of which Plant, machinery and equipment: -€6,815
- Deferred charges and accrued income -€4,572
down €4,572 (-19.6%), from €23,287 to €18,715
- Tax, wage and social debts -€26,185
down €26,185 (-14.6%), from €179,653 to €153,468
of which Taxes: -€30,671
- Profit (loss) carried forward +€16,161
up €16,161 (+131.9%), from €12,254 to €28,415
- Short-term financial debts +€12,068
up €12,068 (+294.6%), from €4,096 to €16,164
- Trade debts -€11,632
down €11,632 (-23.0%), from €50,651 to €39,019
- Other debts -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Gross operating margin +€87,044
up €87,044 (+12.1%), from €721,775 to €808,819
- Staff costs +€82,373
up €82,373 (+12.8%), from €646,039 to €728,412
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 | €307,854 | €288,267 | -€19,587 | -6.4% |
| Fixed assets | 21/28 | €43,428 | €34,097 | -€9,331 | -21.5% |
| Tangible fixed assets | 22/27 | €29,828 | €20,497 | -€9,331 | -31.3% |
| Plant, machinery and equipment | 23 | €12,405 | €5,590 | -€6,815 | -54.9% |
| Furniture and vehicles | 24 | €12,435 | €10,551 | -€1,884 | -15.1% |
| Other tangible fixed assets | 26 | €4,988 | €4,356 | -€632 | -12.7% |
| Financial fixed assets | 28 | €13,600 | €13,600 | = | 0.0% |
| Current assets | 29/58 | €264,426 | €254,170 | -€10,256 | -3.9% |
| Amounts receivable within one year | 40/41 | €128,027 | €33,004 | -€95,023 | -74.2% |
| Trade receivables | 40 | €127,288 | €16,807 | -€110,481 | -86.8% |
| Other amounts receivable | 41 | €738 | €16,197 | +€15,458 | +2093.8% |
| Cash at bank and in hand | 54/58 | €113,112 | €202,452 | +€89,339 | +79.0% |
| Deferred charges and accrued income | 490/1 | €23,287 | €18,715 | -€4,572 | -19.6% |
| Total equity and liabilities | 10/49 | €307,854 | €288,267 | -€19,587 | -6.4% |
| Equity | 10/15 | €43,454 | €59,615 | +€16,161 | +37.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,254 | €28,415 | +€16,161 | +131.9% |
| Amounts payable | 17/49 | €264,400 | €228,652 | -€35,748 | -13.5% |
| Amounts payable within one year | 42/48 | €264,400 | €228,652 | -€35,748 | -13.5% |
| Financial debts | 43 | €4,096 | €16,164 | +€12,068 | +294.6% |
| Credit institutions | 430/8 | €4,096 | €16,164 | +€12,068 | +294.6% |
| Trade debts | 44 | €50,651 | €39,019 | -€11,632 | -23.0% |
| Suppliers | 440/4 | €50,651 | €39,019 | -€11,632 | -23.0% |
| Taxes, remuneration and social security | 45 | €179,653 | €153,468 | -€26,185 | -14.6% |
| Taxes | 450/3 | €51,326 | €20,656 | -€30,671 | -59.8% |
| Remuneration and social security | 454/9 | €128,327 | €132,813 | +€4,486 | +3.5% |
| Other amounts payable | 47/48 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Remuneration, social security and pensions | 62 | €646,039 | €728,412 | +€82,373 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,739 | €9,945 | +€1,206 | +13.8% |
| Other operating charges | 640/8 | €2,770 | €2,897 | +€126 | +4.6% |
| Gross operating margin | 9900 | €721,775 | €808,819 | +€87,044 | +12.1% |
| Operating profit (loss) | 9901 | €64,227 | €67,565 | +€3,338 | +5.2% |
| Financial income | 75/76B | €28 | €1,379 | +€1,352 | +4887.2% |
| Recurring financial income | 75 | €28 | €1,379 | +€1,352 | +4887.2% |
| Financial charges | 65/66B | €12,727 | €15,403 | +€2,676 | +21.0% |
| Recurring financial charges | 65 | €12,727 | €15,403 | +€2,676 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €51,528 | €53,542 | +€2,014 | +3.9% |
| Income taxes | 67/77 | €18,329 | €17,380 | -€949 | -5.2% |
| Profit (loss) for the period | 9904 | €33,199 | €36,161 | +€2,963 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €33,199 | €36,161 | +€2,963 | +8.9% |
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 4 October 2026 via checked.be.