After Before: 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.
After Before
Largest movements
- Tangible fixed assets -€50,230
down €50,230 (-31.2%), from €160,889 to €110,658
of which Furniture and vehicles: -€32,930
- Receivables within one year -€16,804
down €16,804 (-73.2%), from €22,957 to €6,153
of which Trade receivables: -€21,694
- Cash +€4,786
up €4,786 (+343.3%), from €1,394 to €6,180
mainly Depreciation (+€50,230) and Net result for the year (+€20,432)
- Other debts -€25,724
down €25,724 (-34.5%), from €74,537 to €48,813
- Trade debts -€25,696
down €25,696 (-59.4%), from €43,251 to €17,556
- Reserves +€15,629
new in 2025: €15,629
- Debts after one year -€11,807
down €11,807 (-65.8%), from €17,948 to €6,141
- Tax, wage and social debts -€8,814
down €8,814 (-72.0%), from €12,234 to €3,420
of which Taxes: -€5,494
- Staff costs -€16,917
down €16,917 (-17.6%), from €96,389 to €79,472
- Financial charges +€5,130
up €5,130 (+64.1%), from €8,004 to €13,134
of which Non-recurring financial charges: +€5,514
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 | €196,280 | €135,574 | -€60,706 | -30.9% |
| Fixed assets | 21/28 | €160,889 | €111,158 | -€49,730 | -30.9% |
| Tangible fixed assets | 22/27 | €160,889 | €110,658 | -€50,230 | -31.2% |
| Plant, machinery and equipment | 23 | €55,207 | €42,862 | -€12,346 | -22.4% |
| Furniture and vehicles | 24 | €98,107 | €65,177 | -€32,930 | -33.6% |
| Leasing and similar rights | 25 | €7,574 | €2,620 | -€4,954 | -65.4% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €35,391 | €24,415 | -€10,976 | -31.0% |
| Stocks and contracts in progress | 3 | €9,359 | €11,217 | +€1,858 | +19.8% |
| Stocks | 30/36 | €9,359 | €11,217 | +€1,858 | +19.8% |
| Amounts receivable within one year | 40/41 | €22,957 | €6,153 | -€16,804 | -73.2% |
| Trade receivables | 40 | €21,925 | €232 | -€21,694 | -98.9% |
| Other amounts receivable | 41 | €1,032 | €5,921 | +€4,889 | +473.8% |
| Cash at bank and in hand | 54/58 | €1,394 | €6,180 | +€4,786 | +343.3% |
| Deferred charges and accrued income | 490/1 | €1,680 | €865 | -€815 | -48.5% |
| Total equity and liabilities | 10/49 | €196,280 | €135,574 | -€60,706 | -30.9% |
| Equity | 10/15 | €13,797 | €34,229 | +€20,432 | +148.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €15,629 | +€15,629 | |
| Distributable reserves | 133 | - | €15,629 | +€15,629 | |
| Profit (loss) carried forward | 14 | -€4,803 | €0 | +€4,803 | |
| Amounts payable | 17/49 | €182,483 | €101,345 | -€81,138 | -44.5% |
| Amounts payable after more than one year | 17 | €17,948 | €6,141 | -€11,807 | -65.8% |
| Financial debts | 170/4 | €17,948 | €6,141 | -€11,807 | -65.8% |
| Amounts payable within one year | 42/48 | €164,535 | €95,204 | -€69,331 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €31,885 | €23,724 | -€8,161 | -25.6% |
| Financial debts | 43 | €2,628 | €1,692 | -€936 | -35.6% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €2,628 | €1,692 | -€936 | -35.6% |
| Trade debts | 44 | €43,251 | €17,556 | -€25,696 | -59.4% |
| Suppliers | 440/4 | €43,251 | €17,556 | -€25,696 | -59.4% |
| Taxes, remuneration and social security | 45 | €12,234 | €3,420 | -€8,814 | -72.0% |
| Taxes | 450/3 | €8,587 | €3,092 | -€5,494 | -64.0% |
| Remuneration and social security | 454/9 | €3,648 | €328 | -€3,320 | -91.0% |
| Other amounts payable | 47/48 | €74,537 | €48,813 | -€25,724 | -34.5% |
| Non-recurring operating income | 76A | €427 | €0 | -€427 | -100.0% |
| Remuneration, social security and pensions | 62 | €96,389 | €79,472 | -€16,917 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,908 | €50,230 | +€1,322 | +2.7% |
| Other operating charges | 640/8 | €4,143 | €3,390 | -€753 | -18.2% |
| Gross operating margin | 9900 | €167,157 | €167,001 | -€155 | -0.1% |
| Operating profit (loss) | 9901 | €17,717 | €33,910 | +€16,193 | +91.4% |
| Financial income | 75/76B | €209 | €61 | -€149 | -71.1% |
| Recurring financial income | 75 | €209 | €61 | -€149 | -71.1% |
| Financial charges | 65/66B | €8,004 | €13,134 | +€5,130 | +64.1% |
| Recurring financial charges | 65 | €8,004 | €7,621 | -€383 | -4.8% |
| Non-recurring financial charges | 66B | - | €5,514 | +€5,514 | |
| Profit (loss) for the period before taxes | 9903 | €9,922 | €20,836 | +€10,915 | +110.0% |
| Income taxes | 67/77 | €224 | €404 | +€180 | +80.6% |
| Profit (loss) for the period | 9904 | €9,698 | €20,432 | +€10,734 | +110.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,698 | €20,432 | +€10,734 | +110.7% |
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 9 October 2026 via checked.be.