Action Learning: 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.
Action Learning
Largest movements
- Current investments +€175,500
up €175,500 (+65.0%), from €270,000 to €445,500
- Cash -€64,929
down €64,929 (-61.7%), from €105,175 to €40,246
mainly Current investments (-€175,500) and Accrued charges and deferred income (-€590)
- Receivables within one year -€10,527
down €10,527 (-99.9%), from €10,536 to €10
of which Trade receivables: -€10,527
- Tangible fixed assets -€7,777
down €7,777 (-18.6%), from €41,818 to €34,041
of which Furniture and vehicles: -€6,397
- Reserves +€40,738
up €40,738 (+10.3%), from €395,492 to €436,231
of which Distributable reserves: +€42,593
- Other debts +€36,278
up €36,278 (+1,021%), from €3,554 to €39,832
- Tax, wage and social debts +€16,138
up €16,138 (+1,531%), from €1,054 to €17,192
- Financial income +€49,321
up €49,321 (+4,644%), from €1,062 to €50,383
- Gross operating margin +€17,027
up €17,027 (+103%), from €16,486 to €33,513
- Taxes +€14,743
up €14,743 (+873%), from €1,688 to €16,431
- Other operating charges +€10,412
up €10,412 (+1,052%), from €989 to €11,402
- Financial charges +€7,366
up €7,366 (+4,049%), from €182 to €7,548
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 | €427,659 | €519,911 | +€92,252 | +21.6% |
| Fixed assets | 21/28 | €41,818 | €34,041 | -€7,777 | -18.6% |
| Tangible fixed assets | 22/27 | €41,818 | €34,041 | -€7,777 | -18.6% |
| Land and buildings | 22 | €29,024 | €27,644 | -€1,380 | -4.8% |
| Furniture and vehicles | 24 | €12,794 | €6,397 | -€6,397 | -50.0% |
| Current assets | 29/58 | €385,841 | €485,870 | +€100,029 | +25.9% |
| Amounts receivable within one year | 40/41 | €10,536 | €10 | -€10,527 | -99.9% |
| Trade receivables | 40 | €10,527 | €0 | -€10,527 | -100% |
| Other amounts receivable | 41 | €10 | €10 | +€0 | +0.7% |
| Current investments | 50/53 | €270,000 | €445,500 | +€175,500 | +65.0% |
| Cash at bank and in hand | 54/58 | €105,175 | €40,246 | -€64,929 | -61.7% |
| Deferred charges and accrued income | 490/1 | €130 | €114 | -€16 | -12.0% |
| Total equity and liabilities | 10/49 | €427,659 | €519,911 | +€92,252 | +21.6% |
| Equity | 10/15 | €422,149 | €462,887 | +€40,738 | +9.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €395,492 | €436,231 | +€40,738 | +10.3% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100% |
| Distributable reserves | 133 | €393,637 | €436,231 | +€42,593 | +10.8% |
| Profit (loss) carried forward | 14 | €20,456 | €20,456 | = | 0.0% |
| Amounts payable | 17/49 | €5,510 | €57,024 | +€51,514 | +935% |
| Amounts payable within one year | 42/48 | €4,921 | €57,024 | +€52,103 | +1,059% |
| Trade debts | 44 | €313 | €0 | -€313 | -100% |
| Suppliers | 440/4 | €313 | €0 | -€313 | -100% |
| Taxes, remuneration and social security | 45 | €1,054 | €17,192 | +€16,138 | +1,531% |
| Taxes | 450/3 | €1,054 | €17,192 | +€16,138 | +1,531% |
| Other amounts payable | 47/48 | €3,554 | €39,832 | +€36,278 | +1,021% |
| Accrued charges and deferred income | 492/3 | €590 | €0 | -€590 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,852 | €7,777 | -€75 | -1.0% |
| Other operating charges | 640/8 | €989 | €11,402 | +€10,412 | +1,052% |
| Non-recurring operating charges | 66A | €4,421 | €0 | -€4,421 | -100% |
| Gross operating margin | 9900 | €16,486 | €33,513 | +€17,027 | +103% |
| Operating profit (loss) | 9901 | €3,224 | €14,334 | +€11,110 | +345% |
| Financial income | 75/76B | €1,062 | €50,383 | +€49,321 | +4,644% |
| Recurring financial income | 75 | €1,062 | €50,383 | +€49,321 | +4,644% |
| Financial charges | 65/66B | €182 | €7,548 | +€7,366 | +4,049% |
| Recurring financial charges | 65 | €182 | €7,548 | +€7,366 | +4,049% |
| Profit (loss) for the period before taxes | 9903 | €4,104 | €57,170 | +€53,066 | +1,293% |
| Income taxes | 67/77 | €1,688 | €16,431 | +€14,743 | +873% |
| Profit (loss) for the period | 9904 | €2,416 | €40,738 | +€38,322 | +1,586% |
| Profit (loss) for the period to be appropriated | 9905 | €2,416 | €40,738 | +€38,322 | +1,586% |
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 26 October 2026 via checked.be.