B ASSOCIATE: 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.
B ASSOCIATE
Largest movements
- Cash +€188,792
up €188,792 (+49.5%), from €381,628 to €570,419
mainly Other debts (+€415,080) and Net result for the year (+€301,978)
- Receivables after one year -€35,000
down €35,000 (-9.9%), from €355,000 to €320,000
- Receivables within one year +€26,105
up €26,105 (+14.2%), from €183,723 to €209,829
of which Other amounts receivable: +€20,422
- Tangible fixed assets -€17,251
down €17,251 (-7.3%), from €235,114 to €217,863
of which Furniture and vehicles: -€9,563
- Other debts +€415,080
up €415,080 (+276.9%), from €149,877 to €564,957
- Reserves -€261,110
down €261,110 (-23.1%), from €1.1m to €871,550
of which Distributable reserves: -€261,110
- Gross operating margin +€72,865
up €72,865 (+20.0%), from €365,120 to €437,984
- Financial income -€19,857
down €19,857 (-42.0%), from €47,333 to €27,475
- Taxes +€19,135
up €19,135 (+15.7%), from €121,955 to €141,091
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 | €1,412,242 | €1,568,238 | +€155,996 | +11.0% |
| Fixed assets | 21/28 | €483,575 | €466,324 | -€17,251 | -3.6% |
| Tangible fixed assets | 22/27 | €235,114 | €217,863 | -€17,251 | -7.3% |
| Land and buildings | 22 | €201,673 | €194,223 | -€7,450 | -3.7% |
| Furniture and vehicles | 24 | €23,195 | €13,632 | -€9,563 | -41.2% |
| Other tangible fixed assets | 26 | €10,246 | €10,008 | -€238 | -2.3% |
| Financial fixed assets | 28 | €248,461 | €248,461 | = | 0.0% |
| Current assets | 29/58 | €928,667 | €1,101,914 | +€173,247 | +18.7% |
| Amounts receivable after more than one year | 29 | €355,000 | €320,000 | -€35,000 | -9.9% |
| Other amounts receivable | 291 | €355,000 | €320,000 | -€35,000 | -9.9% |
| Amounts receivable within one year | 40/41 | €183,723 | €209,829 | +€26,105 | +14.2% |
| Trade receivables | 40 | €46,723 | €52,407 | +€5,684 | +12.2% |
| Other amounts receivable | 41 | €137,000 | €157,422 | +€20,422 | +14.9% |
| Cash at bank and in hand | 54/58 | €381,628 | €570,419 | +€188,792 | +49.5% |
| Deferred charges and accrued income | 490/1 | €8,316 | €1,666 | -€6,650 | -80.0% |
| Total equity and liabilities | 10/49 | €1,412,242 | €1,568,238 | +€155,996 | +11.0% |
| Equity | 10/15 | €1,145,060 | €883,950 | -€261,110 | -22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,132,660 | €871,550 | -€261,110 | -23.1% |
| 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 | €1,130,800 | €869,690 | -€261,110 | -23.1% |
| Amounts payable | 17/49 | €267,182 | €684,288 | +€417,106 | +156.1% |
| Amounts payable after more than one year | 17 | €71,835 | €60,232 | -€11,603 | -16.2% |
| Financial debts | 170/4 | €71,835 | €60,232 | -€11,603 | -16.2% |
| Amounts payable within one year | 42/48 | €195,347 | €624,056 | +€428,709 | +219.5% |
| Current portion of amounts payable after more than one year | 42 | €11,459 | €11,603 | +€144 | +1.3% |
| Trade debts | 44 | €418 | €2,835 | +€2,417 | +578.4% |
| Suppliers | 440/4 | €418 | €2,835 | +€2,417 | +578.4% |
| Taxes, remuneration and social security | 45 | €33,593 | €44,661 | +€11,068 | +32.9% |
| Taxes | 450/3 | €33,593 | €44,661 | +€11,068 | +32.9% |
| Other amounts payable | 47/48 | €149,877 | €564,957 | +€415,080 | +276.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,155 | €17,545 | -€610 | -3.4% |
| Other operating charges | 640/8 | €3,530 | €3,531 | +€0 | 0.0% |
| Gross operating margin | 9900 | €365,120 | €437,984 | +€72,865 | +20.0% |
| Operating profit (loss) | 9901 | €343,434 | €416,909 | +€73,474 | +21.4% |
| Financial income | 75/76B | €47,333 | €27,475 | -€19,857 | -42.0% |
| Recurring financial income | 75 | €47,333 | €27,475 | -€19,857 | -42.0% |
| Financial charges | 65/66B | €1,479 | €1,315 | -€164 | -11.1% |
| Recurring financial charges | 65 | €1,479 | €1,315 | -€164 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €389,288 | €443,069 | +€53,781 | +13.8% |
| Income taxes | 67/77 | €121,955 | €141,091 | +€19,135 | +15.7% |
| Profit (loss) for the period | 9904 | €267,333 | €301,978 | +€34,645 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €267,333 | €301,978 | +€34,645 | +13.0% |
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 28 September 2026 via checked.be.