ABL: 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.
ABL
Largest movements
- Tangible fixed assets +€827,456
up €827,456 (+69.0%), from €1.2m to €2.0m
of which Land and buildings: +€892,633
- Cash +€82,373
up €82,373 (+122.8%), from €67,084 to €149,456
mainly Contributions, distributions and other (+€799,101) and Depreciation (+€114,943)
- Receivables within one year +€55,912
up €55,912 (+18.9%), from €295,531 to €351,443
of which Trade receivables: +€65,046
- Stocks and contracts +€33,198
up €33,198 (+8.4%), from €396,307 to €429,505
- Revaluation surpluses +€911,174
new in 2025: €911,174
- Other debts +€111,446
up €111,446 (+12587.0%), from €885 to €112,332
- Debts after one year -€70,406
down €70,406 (-8.5%), from €828,956 to €758,550
- Provisions +€34,043
up €34,043 (+7.1%), from €481,777 to €515,820
- Trade debts -€30,267
down €30,267 (-10.7%), from €282,513 to €252,246
- Gross operating margin +€150,751
up €150,751 (+24.2%), from €622,884 to €773,635
- Staff costs +€95,665
up €95,665 (+27.8%), from €344,559 to €440,224
- Taxes +€9,148
up €9,148 (+35.4%), from €25,867 to €35,014
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 | €1,975,640 | €2,976,227 | +€1.0m | +50.6% |
| Fixed assets | 21/28 | €1,213,938 | €2,041,394 | +€827,456 | +68.2% |
| Tangible fixed assets | 22/27 | €1,198,548 | €2,026,004 | +€827,456 | +69.0% |
| Land and buildings | 22 | €961,154 | €1,853,787 | +€892,633 | +92.9% |
| Plant, machinery and equipment | 23 | €192,410 | €153,661 | -€38,749 | -20.1% |
| Furniture and vehicles | 24 | €44,985 | €18,557 | -€26,428 | -58.7% |
| Financial fixed assets | 28 | €15,390 | €15,390 | = | 0.0% |
| Current assets | 29/58 | €761,702 | €934,832 | +€173,131 | +22.7% |
| Stocks and contracts in progress | 3 | €396,307 | €429,505 | +€33,198 | +8.4% |
| Stocks | 30/36 | €396,307 | €429,505 | +€33,198 | +8.4% |
| Amounts receivable within one year | 40/41 | €295,531 | €351,443 | +€55,912 | +18.9% |
| Trade receivables | 40 | €286,398 | €351,443 | +€65,046 | +22.7% |
| Other amounts receivable | 41 | €9,133 | - | -€9,133 | |
| Cash at bank and in hand | 54/58 | €67,084 | €149,456 | +€82,373 | +122.8% |
| Deferred charges and accrued income | 490/1 | €2,780 | €4,427 | +€1,648 | +59.3% |
| Total equity and liabilities | 10/49 | €1,975,640 | €2,976,227 | +€1.0m | +50.6% |
| Equity | 10/15 | €222,656 | €1,133,830 | +€911,174 | +409.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €911,174 | +€911,174 | |
| Reserves | 13 | €122,656 | €122,656 | = | 0.0% |
| Distributable reserves | 133 | €122,656 | €122,656 | = | 0.0% |
| Provisions and deferred taxes | 16 | €481,777 | €515,820 | +€34,043 | +7.1% |
| Provisions for liabilities and charges | 160/5 | €481,777 | €515,820 | +€34,043 | +7.1% |
| Environmental obligations | 163 | - | €515,820 | +€515,820 | |
| Other liabilities and charges | 164/5 | €481,777 | - | -€481,777 | |
| Amounts payable | 17/49 | €1,271,207 | €1,326,577 | +€55,370 | +4.4% |
| Amounts payable after more than one year | 17 | €828,956 | €758,550 | -€70,406 | -8.5% |
| Financial debts | 170/4 | €828,956 | €758,550 | -€70,406 | -8.5% |
| Amounts payable within one year | 42/48 | €442,251 | €568,027 | +€125,776 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €115,723 | €135,201 | +€19,477 | +16.8% |
| Trade debts | 44 | €282,513 | €252,246 | -€30,267 | -10.7% |
| Suppliers | 440/4 | €282,513 | €252,246 | -€30,267 | -10.7% |
| Taxes, remuneration and social security | 45 | €43,130 | €68,249 | +€25,120 | +58.2% |
| Taxes | 450/3 | €14,681 | €22,100 | +€7,419 | +50.5% |
| Remuneration and social security | 454/9 | €28,448 | €46,149 | +€17,700 | +62.2% |
| Other amounts payable | 47/48 | €885 | €112,332 | +€111,446 | +12587.0% |
| Remuneration, social security and pensions | 62 | €344,559 | €440,224 | +€95,665 | +27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,820 | €114,943 | +€2,123 | +1.9% |
| Other operating charges | 640/8 | €10,578 | €12,423 | +€1,845 | +17.4% |
| Non-recurring operating charges | 66A | €270 | €311 | +€40 | +14.9% |
| Gross operating margin | 9900 | €622,884 | €773,635 | +€150,751 | +24.2% |
| Operating profit (loss) | 9901 | €154,657 | €205,735 | +€51,078 | +33.0% |
| Financial income | 75/76B | €63 | - | -€63 | |
| Recurring financial income | 75 | €63 | - | -€63 | |
| Financial charges | 65/66B | €57,424 | €58,648 | +€1,224 | +2.1% |
| Recurring financial charges | 65 | €57,424 | €58,648 | +€1,224 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €97,295 | €147,087 | +€49,792 | +51.2% |
| Income taxes | 67/77 | €25,867 | €35,014 | +€9,148 | +35.4% |
| Profit (loss) for the period | 9904 | €71,429 | €112,072 | +€40,644 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,429 | €112,072 | +€40,644 | +56.9% |
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 5 October 2026 via checked.be.