ANSWER: 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.
ANSWER
Largest movements
- Receivables after one year +€65,000
new in 2025: €65,000
- Cash -€60,288
down €60,288 (-88.7%), from €67,941 to €7,653
mainly Receivables after one year (-€65,000) and Debts after one year (-€30,500)
- Tangible fixed assets -€25,975
down €25,975 (-6.4%), from €407,000 to €381,025
of which Land and buildings: -€25,832
- Debts after one year -€30,500
down €30,500 (-8.8%), from €347,533 to €317,033
- Profit (loss) carried forward +€9,151
up €9,151 (+44.5%), from €20,585 to €29,736
- Gross operating margin +€1,463
up €1,463 (+2.8%), from €52,205 to €53,668
- Financial charges -€935
down €935 (-7.9%), from €11,775 to €10,840
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 | €474,941 | €453,678 | -€21,263 | -4.5% |
| Fixed assets | 21/28 | €407,000 | €381,025 | -€25,975 | -6.4% |
| Tangible fixed assets | 22/27 | €407,000 | €381,025 | -€25,975 | -6.4% |
| Land and buildings | 22 | €405,578 | €379,746 | -€25,832 | -6.4% |
| Plant, machinery and equipment | 23 | €1,422 | €1,279 | -€143 | -10.1% |
| Current assets | 29/58 | €67,941 | €72,653 | +€4,712 | +6.9% |
| Amounts receivable after more than one year | 29 | - | €65,000 | +€65,000 | |
| Other amounts receivable | 291 | - | €65,000 | +€65,000 | |
| Cash at bank and in hand | 54/58 | €67,941 | €7,653 | -€60,288 | -88.7% |
| Total equity and liabilities | 10/49 | €474,941 | €453,678 | -€21,263 | -4.5% |
| Equity | 10/15 | €90,231 | €99,382 | +€9,151 | +10.1% |
| Contributions | 10/11 | €67,400 | €67,400 | = | 0.0% |
| Reserves | 13 | €2,246 | €2,246 | = | 0.0% |
| Distributable reserves | 133 | €2,246 | €2,246 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,585 | €29,736 | +€9,151 | +44.5% |
| Amounts payable | 17/49 | €384,710 | €354,296 | -€30,414 | -7.9% |
| Amounts payable after more than one year | 17 | €347,533 | €317,033 | -€30,500 | -8.8% |
| Financial debts | 170/4 | €347,533 | €317,033 | -€30,500 | -8.8% |
| Amounts payable within one year | 42/48 | €33,842 | €33,928 | +€86 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €29,534 | €30,500 | +€966 | +3.3% |
| Trade debts | 44 | €1,429 | - | -€1,429 | |
| Suppliers | 440/4 | €1,429 | - | -€1,429 | |
| Taxes, remuneration and social security | 45 | €2,878 | €3,428 | +€550 | +19.1% |
| Taxes | 450/3 | €2,878 | €3,428 | +€550 | +19.1% |
| Accrued charges and deferred income | 492/3 | €3,335 | €3,335 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,840 | €25,975 | +€134 | +0.5% |
| Other operating charges | 640/8 | €3,805 | €4,274 | +€469 | +12.3% |
| Gross operating margin | 9900 | €52,205 | €53,668 | +€1,463 | +2.8% |
| Operating profit (loss) | 9901 | €22,560 | €23,419 | +€860 | +3.8% |
| Financial charges | 65/66B | €11,775 | €10,840 | -€935 | -7.9% |
| Recurring financial charges | 65 | €11,775 | €10,840 | -€935 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €10,785 | €12,579 | +€1,795 | +16.6% |
| Income taxes | 67/77 | €2,960 | €3,428 | +€468 | +15.8% |
| Profit (loss) for the period | 9904 | €7,825 | €9,151 | +€1,327 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,825 | €9,151 | +€1,327 | +17.0% |
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.