AS CAPITAL: 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.
AS CAPITAL
Largest movements
- Cash +€32,642
up €32,642 (+41.6%), from €78,420 to €111,062
mainly Net result for the year (+€15,805) and Receivables within one year (+€15,523)
- Receivables within one year -€15,523
down €15,523 (-58.3%), from €26,638 to €11,115
of which Trade receivables: -€15,529
- Deferred charges and accrued income +€4,572
up €4,572 (+285.3%), from €1,602 to €6,174
- Tangible fixed assets +€2,940
up €2,940 (+82.9%), from €3,545 to €6,485
- Profit (loss) carried forward +€15,805
up €15,805 (+17.4%), from €90,695 to €106,500
- Trade debts +€6,115
up €6,115, from €0 to €6,115
- Other debts +€3,015
up €3,015 (+20.6%), from €14,643 to €17,658
- Gross operating margin -€5,849
down €5,849 (-18.5%), from €31,578 to €25,729
- Taxes -€2,037
down €2,037 (-27.0%), from €7,537 to €5,500
- Other operating charges +€428
up €428 (+25.3%), from €1,697 to €2,125
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 | €110,206 | €134,836 | +€24,631 | +22.3% |
| Fixed assets | 21/28 | €3,545 | €6,485 | +€2,940 | +82.9% |
| Tangible fixed assets | 22/27 | €3,545 | €6,485 | +€2,940 | +82.9% |
| Furniture and vehicles | 24 | €3,545 | €6,485 | +€2,940 | +82.9% |
| Current assets | 29/58 | €106,660 | €128,351 | +€21,691 | +20.3% |
| Amounts receivable within one year | 40/41 | €26,638 | €11,115 | -€15,523 | -58.3% |
| Trade receivables | 40 | €26,638 | €11,109 | -€15,529 | -58.3% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €78,420 | €111,062 | +€32,642 | +41.6% |
| Deferred charges and accrued income | 490/1 | €1,602 | €6,174 | +€4,572 | +285.3% |
| Total equity and liabilities | 10/49 | €110,206 | €134,836 | +€24,631 | +22.3% |
| Equity | 10/15 | €92,695 | €108,500 | +€15,805 | +17.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,695 | €106,500 | +€15,805 | +17.4% |
| Amounts payable | 17/49 | €17,511 | €26,336 | +€8,825 | +50.4% |
| Amounts payable within one year | 42/48 | €15,691 | €23,773 | +€8,083 | +51.5% |
| Trade debts | 44 | €0 | €6,115 | +€6,115 | |
| Suppliers | 440/4 | €0 | €6,115 | +€6,115 | |
| Taxes, remuneration and social security | 45 | €1,047 | €0 | -€1,047 | -100.0% |
| Taxes | 450/3 | €1,047 | €0 | -€1,047 | -100.0% |
| Other amounts payable | 47/48 | €14,643 | €17,658 | +€3,015 | +20.6% |
| Accrued charges and deferred income | 492/3 | €1,820 | €2,563 | +€743 | +40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,237 | €1,480 | +€243 | +19.6% |
| Other operating charges | 640/8 | €1,697 | €2,125 | +€428 | +25.3% |
| Gross operating margin | 9900 | €31,578 | €25,729 | -€5,849 | -18.5% |
| Operating profit (loss) | 9901 | €28,644 | €22,124 | -€6,521 | -22.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +300.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300.0% |
| Financial charges | 65/66B | €997 | €818 | -€179 | -17.9% |
| Recurring financial charges | 65 | €997 | €818 | -€179 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €27,647 | €21,305 | -€6,342 | -22.9% |
| Income taxes | 67/77 | €7,537 | €5,500 | -€2,037 | -27.0% |
| Profit (loss) for the period | 9904 | €20,110 | €15,805 | -€4,305 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,110 | €15,805 | -€4,305 | -21.4% |
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 5 October 2026 via checked.be.