AUM: 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.
AUM
Largest movements
- Receivables within one year +€43,714
up €43,714 (+1,415%), from €3,089 to €46,803
of which Other amounts receivable: +€32,555
- Cash +€7,970
up €7,970 (+56.6%), from €14,081 to €22,050
mainly Advances received (+€22,000) and Net result for the year (+€20,817)
- Intangible fixed assets -€7,500
down €7,500 (-15.9%), from €47,142 to €39,642
- Tangible fixed assets -€4,058
down €4,058 (-51.3%), from €7,905 to €3,846
of which Furniture and vehicles: -€2,398
- Advances received +€22,000
new in 2025: €22,000
- Profit (loss) carried forward +€20,817
up €20,817, from -€410 to €20,407
- Other debts -€8,813
no longer reported in 2025 (was €8,813)
- Tax, wage and social debts +€8,423
up €8,423 (+52.8%), from €15,943 to €24,366
of which Taxes: +€5,848
- Debts after one year -€5,141
down €5,141 (-21.8%), from €23,547 to €18,406
- Gross operating margin +€79,210
up €79,210 (+57.0%), from €138,957 to €218,167
- Staff costs +€56,314
up €56,314 (+47.1%), from €119,492 to €175,806
- Taxes +€6,495
up €6,495 (+302%), from €2,151 to €8,647
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 | €75,497 | €115,663 | +€40,166 | +53.2% |
| Fixed assets | 21/28 | €55,047 | €43,489 | -€11,558 | -21.0% |
| Intangible fixed assets | 21 | €47,142 | €39,642 | -€7,500 | -15.9% |
| Tangible fixed assets | 22/27 | €7,905 | €3,846 | -€4,058 | -51.3% |
| Plant, machinery and equipment | 23 | €4,762 | €3,101 | -€1,661 | -34.9% |
| Furniture and vehicles | 24 | €3,143 | €746 | -€2,398 | -76.3% |
| Current assets | 29/58 | €20,450 | €72,174 | +€51,724 | +253% |
| Stocks and contracts in progress | 3 | €2,795 | €3,086 | +€291 | +10.4% |
| Stocks | 30/36 | €2,795 | €3,086 | +€291 | +10.4% |
| Amounts receivable within one year | 40/41 | €3,089 | €46,803 | +€43,714 | +1,415% |
| Trade receivables | 40 | €2,964 | €14,122 | +€11,159 | +376% |
| Other amounts receivable | 41 | €125 | €32,680 | +€32,555 | +25,973% |
| Cash at bank and in hand | 54/58 | €14,081 | €22,050 | +€7,970 | +56.6% |
| Deferred charges and accrued income | 490/1 | €485 | €235 | -€250 | -51.6% |
| Total equity and liabilities | 10/49 | €75,497 | €115,663 | +€40,166 | +53.2% |
| Equity | 10/15 | €2,090 | €22,907 | +€20,817 | +996% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€410 | €20,407 | +€20,817 | |
| Amounts payable | 17/49 | €73,407 | €92,756 | +€19,349 | +26.4% |
| Amounts payable after more than one year | 17 | €23,547 | €18,406 | -€5,141 | -21.8% |
| Financial debts | 170/4 | €23,547 | €18,406 | -€5,141 | -21.8% |
| Amounts payable within one year | 42/48 | €49,860 | €74,350 | +€24,490 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €5,034 | €5,141 | +€107 | +2.1% |
| Trade debts | 44 | €20,069 | €22,843 | +€2,774 | +13.8% |
| Suppliers | 440/4 | €20,069 | €22,843 | +€2,774 | +13.8% |
| Advances received on contracts in progress | 46 | - | €22,000 | +€22,000 | |
| Taxes, remuneration and social security | 45 | €15,943 | €24,366 | +€8,423 | +52.8% |
| Taxes | 450/3 | €3,761 | €9,609 | +€5,848 | +155% |
| Remuneration and social security | 454/9 | €12,182 | €14,756 | +€2,575 | +21.1% |
| Other amounts payable | 47/48 | €8,813 | - | -€8,813 | |
| Non-recurring operating income | 76A | €759 | - | -€759 | |
| Remuneration, social security and pensions | 62 | €119,492 | €175,806 | +€56,314 | +47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,558 | €11,558 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,012 | €1,560 | -€452 | -22.5% |
| Gross operating margin | 9900 | €138,957 | €218,167 | +€79,210 | +57.0% |
| Operating profit (loss) | 9901 | €5,894 | €29,242 | +€23,348 | +396% |
| Financial income | 75/76B | €0 | €1,028 | +€1,028 | +342,577% |
| Recurring financial income | 75 | €0 | €1,028 | +€1,028 | +342,577% |
| Financial charges | 65/66B | €1,148 | €807 | -€341 | -29.7% |
| Recurring financial charges | 65 | €1,148 | €807 | -€341 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €4,747 | €29,463 | +€24,717 | +521% |
| Income taxes | 67/77 | €2,151 | €8,647 | +€6,495 | +302% |
| Profit (loss) for the period | 9904 | €2,595 | €20,817 | +€18,221 | +702% |
| Profit (loss) for the period to be appropriated | 9905 | €2,595 | €20,817 | +€18,221 | +702% |
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 21 October 2026 via checked.be.