ALL COMMUNICATIONS: 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.
ALL COMMUNICATIONS
Largest movements
- Tangible fixed assets +€329,839
up €329,839 (+59.6%), from €553,260 to €883,099
of which Other tangible fixed assets: +€337,363
- Cash -€42,507
down €42,507 (-22.6%), from €188,117 to €145,611
mainly Investment in fixed assets (net) (-€421,910) and Net result for the year (-€39,361)
- Receivables within one year -€23,171
down €23,171 (-10.7%), from €216,715 to €193,544
of which Other amounts receivable: -€13,584
- Debts after one year +€266,435
up €266,435 (+86.0%), from €309,878 to €576,313
of which Financial debts: +€266,435
- Current portion of long-term debt +€46,857
up €46,857 (+85.5%), from €54,812 to €101,669
- Reserves -€39,000
down €39,000 (-7.4%), from €529,450 to €490,450
of which Distributable reserves: -€39,000
- Advances received -€31,497
down €31,497 (-100.0%), from €31,497 to €0
- Trade debts +€25,010
up €25,010 (+15.8%), from €157,977 to €182,987
- Depreciation +€37,232
up €37,232 (+76.9%), from €48,445 to €85,676
- Write-downs +€21,761
new in 2025: €21,761
- Provisions +€9,240
up €9,240 (+70.0%), from -€13,200 to -€3,960
- Taxes -€6,821
down €6,821 (-98.1%), from €6,957 to €135
- Financial charges +€5,629
up €5,629 (+62.5%), from €9,009 to €14,638
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 | €1,463,129 | €1,730,525 | +€267,396 | +18.3% |
| Fixed assets | 21/28 | €558,260 | €894,493 | +€336,233 | +60.2% |
| Intangible fixed assets | 21 | €0 | €6,394 | +€6,394 | |
| Tangible fixed assets | 22/27 | €553,260 | €883,099 | +€329,839 | +59.6% |
| Plant, machinery and equipment | 23 | €1,028 | €1,507 | +€479 | +46.6% |
| Furniture and vehicles | 24 | €85,483 | €77,480 | -€8,003 | -9.4% |
| Other tangible fixed assets | 26 | €466,749 | €804,113 | +€337,363 | +72.3% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €904,869 | €836,031 | -€68,837 | -7.6% |
| Stocks and contracts in progress | 3 | €493,817 | €477,441 | -€16,376 | -3.3% |
| Stocks | 30/36 | €493,817 | €477,441 | -€16,376 | -3.3% |
| Amounts receivable within one year | 40/41 | €216,715 | €193,544 | -€23,171 | -10.7% |
| Trade receivables | 40 | €116,462 | €106,875 | -€9,587 | -8.2% |
| Other amounts receivable | 41 | €100,253 | €86,669 | -€13,584 | -13.5% |
| Cash at bank and in hand | 54/58 | €188,117 | €145,611 | -€42,507 | -22.6% |
| Deferred charges and accrued income | 490/1 | €6,220 | €19,436 | +€13,217 | +212.5% |
| Total equity and liabilities | 10/49 | €1,463,129 | €1,730,525 | +€267,396 | +18.3% |
| Equity | 10/15 | €591,888 | €552,527 | -€39,361 | -6.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €529,450 | €490,450 | -€39,000 | -7.4% |
| Non-distributable reserves | 130/1 | €24,950 | €24,950 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €504,500 | €465,500 | -€39,000 | -7.7% |
| Profit (loss) carried forward | 14 | €438 | €77 | -€361 | -82.4% |
| Provisions and deferred taxes | 16 | €3,960 | €0 | -€3,960 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €3,960 | €0 | -€3,960 | -100.0% |
| Other liabilities and charges | 164/5 | €3,960 | €0 | -€3,960 | -100.0% |
| Amounts payable | 17/49 | €867,281 | €1,177,998 | +€310,717 | +35.8% |
| Amounts payable after more than one year | 17 | €309,878 | €576,313 | +€266,435 | +86.0% |
| Financial debts | 170/4 | €309,878 | €576,313 | +€266,435 | +86.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €554,797 | €597,513 | +€42,716 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €54,812 | €101,669 | +€46,857 | +85.5% |
| Trade debts | 44 | €157,977 | €182,987 | +€25,010 | +15.8% |
| Suppliers | 440/4 | €157,977 | €182,987 | +€25,010 | +15.8% |
| Advances received on contracts in progress | 46 | €31,497 | €0 | -€31,497 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,018 | €6,364 | +€2,346 | +58.4% |
| Taxes | 450/3 | €4,018 | €6,364 | +€2,346 | +58.4% |
| Other amounts payable | 47/48 | €306,494 | €306,494 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,605 | €4,172 | +€1,566 | +60.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,445 | €85,676 | +€37,232 | +76.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €21,761 | +€21,761 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,200 | -€3,960 | +€9,240 | +70.0% |
| Other operating charges | 640/8 | €5,952 | €6,499 | +€548 | +9.2% |
| Gross operating margin | 9900 | €85,848 | €83,015 | -€2,832 | -3.3% |
| Operating profit (loss) | 9901 | €44,652 | -€26,961 | -€71,613 | |
| Financial income | 75/76B | €3,170 | €2,373 | -€797 | -25.1% |
| Recurring financial income | 75 | €3,170 | €2,373 | -€797 | -25.1% |
| Financial charges | 65/66B | €9,009 | €14,638 | +€5,629 | +62.5% |
| Recurring financial charges | 65 | €9,009 | €14,638 | +€5,629 | +62.5% |
| Profit (loss) for the period before taxes | 9903 | €38,813 | -€39,226 | -€78,038 | |
| Income taxes | 67/77 | €6,957 | €135 | -€6,821 | -98.1% |
| Profit (loss) for the period | 9904 | €31,856 | -€39,361 | -€71,217 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,856 | -€39,361 | -€71,217 |
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 7 October 2026 via checked.be.