ANTOINE SIMON: 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.
ANTOINE SIMON
Largest movements
- Cash +€944,740
up €944,740 (+852%), from €110,850 to €1.1m
mainly Net result for the year (+€287,195) and Investment in fixed assets (net) (+€219,668)
- Tangible fixed assets -€306,898
down €306,898 (-76.0%), from €403,713 to €96,815
of which Land and buildings: -€203,479
- Receivables after one year -€180,000
down €180,000 (-100%), from €180,000 to €0
- Current investments -€160,121
down €160,121 (-100%), from €160,121 to €0
- Stocks and contracts +€39,889
up €39,889 (+50.3%), from €79,300 to €119,189
of which Contracts in progress: +€19,953
- Reserves +€287,195
up €287,195 (+72.7%), from €394,974 to €682,169
of which Distributable reserves: +€287,195
- Debts after one year -€282,067
down €282,067 (-44.4%), from €634,581 to €352,514
- Accrued charges and deferred income +€157,189
new in 2025: €157,189
- Advances received +€79,985
new in 2025: €79,985
- Current portion of long-term debt -€70,578
down €70,578 (-40.1%), from €175,875 to €105,297
- Gross operating margin -€224,625
down €224,625 (-21.4%), from €1.1m to €827,372
- Depreciation -€66,327
down €66,327 (-36.4%), from €182,057 to €115,730
- Taxes -€31,810
down €31,810 (-23.4%), from €135,964 to €104,153
- Staff costs -€26,027
down €26,027 (-8.2%), from €315,959 to €289,932
- Other operating charges +€12,916
up €12,916 (+117%), from €11,025 to €23,941
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 | €1,354,724 | €1,656,125 | +€301,401 | +22.2% |
| Fixed assets | 21/28 | €624,267 | €288,869 | -€335,398 | -53.7% |
| Intangible fixed assets | 21 | €220,504 | €192,004 | -€28,500 | -12.9% |
| Tangible fixed assets | 22/27 | €403,713 | €96,815 | -€306,898 | -76.0% |
| Land and buildings | 22 | €203,479 | €0 | -€203,479 | -100% |
| Plant, machinery and equipment | 23 | €80,187 | €48,374 | -€31,813 | -39.7% |
| Furniture and vehicles | 24 | €50,658 | €15,727 | -€34,931 | -69.0% |
| Leasing and similar rights | 25 | €50,691 | €17,672 | -€33,020 | -65.1% |
| Other tangible fixed assets | 26 | €18,698 | €15,043 | -€3,655 | -19.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €730,457 | €1,367,256 | +€636,799 | +87.2% |
| Amounts receivable after more than one year | 29 | €180,000 | €0 | -€180,000 | -100% |
| Other amounts receivable | 291 | €180,000 | €0 | -€180,000 | -100% |
| Stocks and contracts in progress | 3 | €79,300 | €119,189 | +€39,889 | +50.3% |
| Stocks | 30/36 | €79,300 | €99,236 | +€19,936 | +25.1% |
| Contracts in progress | 37 | - | €19,953 | +€19,953 | |
| Amounts receivable within one year | 40/41 | €183,631 | €188,459 | +€4,828 | +2.6% |
| Trade receivables | 40 | €0 | €150,901 | +€150,901 | |
| Other amounts receivable | 41 | €183,631 | €37,558 | -€146,073 | -79.5% |
| Current investments | 50/53 | €160,121 | €0 | -€160,121 | -100% |
| Cash at bank and in hand | 54/58 | €110,850 | €1,055,590 | +€944,740 | +852% |
| Deferred charges and accrued income | 490/1 | €16,555 | €4,018 | -€12,536 | -75.7% |
| Total equity and liabilities | 10/49 | €1,354,724 | €1,656,125 | +€301,401 | +22.2% |
| Equity | 10/15 | €413,574 | €700,769 | +€287,195 | +69.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €394,974 | €682,169 | +€287,195 | +72.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €393,114 | €680,309 | +€287,195 | +73.1% |
| Amounts payable | 17/49 | €941,150 | €955,356 | +€14,206 | +1.5% |
| Amounts payable after more than one year | 17 | €634,581 | €352,514 | -€282,067 | -44.4% |
| Financial debts | 170/4 | €634,581 | €352,514 | -€282,067 | -44.4% |
| Amounts payable within one year | 42/48 | €306,569 | €445,652 | +€139,083 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €175,875 | €105,297 | -€70,578 | -40.1% |
| Financial debts | 43 | - | €164 | +€164 | |
| Credit institutions | 430/8 | - | €164 | +€164 | |
| Trade debts | 44 | €72,150 | €123,640 | +€51,489 | +71.4% |
| Suppliers | 440/4 | €72,150 | €123,640 | +€51,489 | +71.4% |
| Advances received on contracts in progress | 46 | - | €79,985 | +€79,985 | |
| Taxes, remuneration and social security | 45 | €58,543 | €109,275 | +€50,732 | +86.7% |
| Taxes | 450/3 | €18,299 | €65,379 | +€47,080 | +257% |
| Remuneration and social security | 454/9 | €40,244 | €43,896 | +€3,652 | +9.1% |
| Other amounts payable | 47/48 | €0 | €27,292 | +€27,292 | |
| Accrued charges and deferred income | 492/3 | - | €157,189 | +€157,189 | |
| Non-recurring operating income | 76A | - | €74,993 | +€74,993 | |
| Remuneration, social security and pensions | 62 | €315,959 | €289,932 | -€26,027 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,057 | €115,730 | -€66,327 | -36.4% |
| Other operating charges | 640/8 | €11,025 | €23,941 | +€12,916 | +117% |
| Gross operating margin | 9900 | €1,051,996 | €827,372 | -€224,625 | -21.4% |
| Operating profit (loss) | 9901 | €542,955 | €397,768 | -€145,187 | -26.7% |
| Financial income | 75/76B | €10,845 | €9,516 | -€1,329 | -12.3% |
| Recurring financial income | 75 | €10,845 | €9,516 | -€1,329 | -12.3% |
| Financial charges | 65/66B | €24,723 | €15,936 | -€8,787 | -35.5% |
| Recurring financial charges | 65 | €24,161 | €15,936 | -€8,225 | -34.0% |
| Non-recurring financial charges | 66B | €562 | €0 | -€562 | -100% |
| Profit (loss) for the period before taxes | 9903 | €529,077 | €391,348 | -€137,729 | -26.0% |
| Income taxes | 67/77 | €135,964 | €104,153 | -€31,810 | -23.4% |
| Profit (loss) for the period | 9904 | €393,114 | €287,195 | -€105,919 | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €393,114 | €287,195 | -€105,919 | -26.9% |
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 17 October 2026 via checked.be.