ANDY MOUTON: 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.
ANDY MOUTON
Largest movements
- Tangible fixed assets +€41,717
up €41,717 (+24.4%), from €170,940 to €212,657
of which Furniture and vehicles: +€53,761
- Cash -€36,981
down €36,981 (-16.1%), from €229,752 to €192,771
mainly Contributions, distributions and other (-€190,000) and Investment in fixed assets (net) (-€61,262)
- Receivables within one year -€32,992
down €32,992 (-59.4%), from €55,557 to €22,565
of which Trade receivables: -€32,884
- Stocks and contracts +€6,362
up €6,362 (+43.6%), from €14,578 to €20,940
- Deferred charges and accrued income +€4,933
up €4,933 (+422%), from €1,169 to €6,102
- Profit (loss) carried forward -€161,869
down €161,869 (-83.7%), from €193,446 to €31,577
- Other debts +€76,655
up €76,655 (+83.8%), from €91,519 to €168,174
- Reserves +€50,000
up €50,000 (+2,688%), from €1,860 to €51,860
- Tax, wage and social debts +€18,818
up €18,818 (+119%), from €15,814 to €34,632
of which Taxes: +€15,766
- Debts after one year -€12,210
down €12,210 (-11.0%), from €111,457 to €99,247
- Gross operating margin +€7,383
up €7,383 (+6.5%), from €113,972 to €121,356
- Depreciation +€1,223
up €1,223 (+6.7%), from €18,322 to €19,545
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 | €471,996 | €455,035 | -€16,961 | -3.6% |
| Fixed assets | 21/28 | €170,940 | €212,657 | +€41,717 | +24.4% |
| Tangible fixed assets | 22/27 | €170,940 | €212,657 | +€41,717 | +24.4% |
| Land and buildings | 22 | €157,406 | €148,383 | -€9,023 | -5.7% |
| Plant, machinery and equipment | 23 | €5,406 | €3,748 | -€1,658 | -30.7% |
| Furniture and vehicles | 24 | - | €53,761 | +€53,761 | |
| Other tangible fixed assets | 26 | €8,128 | €6,765 | -€1,362 | -16.8% |
| Current assets | 29/58 | €301,056 | €242,378 | -€58,678 | -19.5% |
| Stocks and contracts in progress | 3 | €14,578 | €20,940 | +€6,362 | +43.6% |
| Stocks | 30/36 | €14,578 | €20,940 | +€6,362 | +43.6% |
| Amounts receivable within one year | 40/41 | €55,557 | €22,565 | -€32,992 | -59.4% |
| Trade receivables | 40 | €50,589 | €17,705 | -€32,884 | -65.0% |
| Other amounts receivable | 41 | €4,967 | €4,860 | -€108 | -2.2% |
| Cash at bank and in hand | 54/58 | €229,752 | €192,771 | -€36,981 | -16.1% |
| Deferred charges and accrued income | 490/1 | €1,169 | €6,102 | +€4,933 | +422% |
| Total equity and liabilities | 10/49 | €471,996 | €455,035 | -€16,961 | -3.6% |
| Equity | 10/15 | €213,906 | €102,037 | -€111,869 | -52.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €51,860 | +€50,000 | +2,688% |
| Distributable reserves | 133 | €1,860 | €51,860 | +€50,000 | +2,688% |
| Profit (loss) carried forward | 14 | €193,446 | €31,577 | -€161,869 | -83.7% |
| Amounts payable | 17/49 | €258,090 | €352,998 | +€94,908 | +36.8% |
| Amounts payable after more than one year | 17 | €111,457 | €99,247 | -€12,210 | -11.0% |
| Financial debts | 170/4 | €111,457 | €99,247 | -€12,210 | -11.0% |
| Amounts payable within one year | 42/48 | €146,632 | €253,751 | +€107,118 | +73.1% |
| Current portion of amounts payable after more than one year | 42 | €11,975 | €12,210 | +€235 | +2.0% |
| Trade debts | 44 | €27,324 | €38,734 | +€11,410 | +41.8% |
| Suppliers | 440/4 | €27,324 | €38,734 | +€11,410 | +41.8% |
| Taxes, remuneration and social security | 45 | €15,814 | €34,632 | +€18,818 | +119% |
| Taxes | 450/3 | €15,814 | €31,580 | +€15,766 | +99.7% |
| Remuneration and social security | 454/9 | - | €3,052 | +€3,052 | |
| Other amounts payable | 47/48 | €91,519 | €168,174 | +€76,655 | +83.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,322 | €19,545 | +€1,223 | +6.7% |
| Other operating charges | 640/8 | €2,808 | €2,373 | -€435 | -15.5% |
| Gross operating margin | 9900 | €113,972 | €121,356 | +€7,383 | +6.5% |
| Operating profit (loss) | 9901 | €92,842 | €99,438 | +€6,596 | +7.1% |
| Financial income | 75/76B | €2,271 | €1,733 | -€538 | -23.7% |
| Recurring financial income | 75 | €2,271 | €1,733 | -€538 | -23.7% |
| Financial charges | 65/66B | €2,927 | €2,960 | +€33 | +1.1% |
| Recurring financial charges | 65 | €2,927 | €2,960 | +€33 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €92,186 | €98,211 | +€6,025 | +6.5% |
| Income taxes | 67/77 | €19,033 | €20,080 | +€1,047 | +5.5% |
| Profit (loss) for the period | 9904 | €73,153 | €78,131 | +€4,978 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €73,153 | €78,131 | +€4,978 | +6.8% |
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 20 October 2026 via checked.be.