B-SIDE: 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-SIDE
Largest movements
- Receivables within one year -€28,599
down €28,599 (-52.8%), from €54,203 to €25,604
of which Trade receivables: -€33,466
- Cash +€3,054
up €3,054 (+62.0%), from €4,926 to €7,980
mainly Receivables within one year (+€28,599) and Net result for the year (+€20,369)
- Tangible fixed assets -€2,124
down €2,124 (-100.0%), from €2,124 to €0
- Profit (loss) carried forward +€50,229
up €50,229 (+74.5%), from -€67,413 to -€17,184
- Trade debts -€41,475
down €41,475 (-74.8%), from €55,415 to €13,940
- Reserves -€29,860
down €29,860 (-100.0%), from €29,860 to €0
of which Distributable reserves: -€28,000
- Other debts -€16,589
down €16,589 (-73.7%), from €22,521 to €5,932
- Tax, wage and social debts +€8,739
up €8,739 (+273.6%), from €3,194 to €11,933
of which Taxes: +€8,041
- Staff costs +€44,899
up €44,899 (+607.2%), from €7,394 to €52,293
- Gross operating margin +€16,018
up €16,018 (+24.4%), from €65,692 to €81,709
- Taxes +€7,448
new in 2025: €7,448
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 | €62,177 | €33,923 | -€28,253 | -45.4% |
| Fixed assets | 21/28 | €2,186 | €62 | -€2,124 | -97.2% |
| Tangible fixed assets | 22/27 | €2,124 | €0 | -€2,124 | -100.0% |
| Plant, machinery and equipment | 23 | €2,124 | €0 | -€2,124 | -100.0% |
| Financial fixed assets | 28 | €62 | €62 | = | 0.0% |
| Current assets | 29/58 | €59,991 | €33,861 | -€26,129 | -43.6% |
| Amounts receivable within one year | 40/41 | €54,203 | €25,604 | -€28,599 | -52.8% |
| Trade receivables | 40 | €54,171 | €20,704 | -€33,466 | -61.8% |
| Other amounts receivable | 41 | €33 | €4,900 | +€4,867 | +14944.5% |
| Cash at bank and in hand | 54/58 | €4,926 | €7,980 | +€3,054 | +62.0% |
| Deferred charges and accrued income | 490/1 | €861 | €277 | -€584 | -67.8% |
| Total equity and liabilities | 10/49 | €62,177 | €33,923 | -€28,253 | -45.4% |
| Equity | 10/15 | -€18,953 | €1,416 | +€20,369 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €29,860 | €0 | -€29,860 | -100.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €28,000 | €0 | -€28,000 | -100.0% |
| Profit (loss) carried forward | 14 | -€67,413 | -€17,184 | +€50,229 | +74.5% |
| Amounts payable | 17/49 | €81,130 | €32,507 | -€48,623 | -59.9% |
| Amounts payable within one year | 42/48 | €81,130 | €31,805 | -€49,325 | -60.8% |
| Trade debts | 44 | €55,415 | €13,940 | -€41,475 | -74.8% |
| Suppliers | 440/4 | €55,415 | €13,940 | -€41,475 | -74.8% |
| Taxes, remuneration and social security | 45 | €3,194 | €11,933 | +€8,739 | +273.6% |
| Taxes | 450/3 | €310 | €8,351 | +€8,041 | +2590.5% |
| Remuneration and social security | 454/9 | €2,883 | €3,582 | +€698 | +24.2% |
| Other amounts payable | 47/48 | €22,521 | €5,932 | -€16,589 | -73.7% |
| Accrued charges and deferred income | 492/3 | - | €702 | +€702 | |
| Remuneration, social security and pensions | 62 | €7,394 | €52,293 | +€44,899 | +607.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €501 | €0 | -€501 | -100.0% |
| Other operating charges | 640/8 | €531 | €1,248 | +€717 | +134.9% |
| Gross operating margin | 9900 | €65,692 | €81,709 | +€16,018 | +24.4% |
| Operating profit (loss) | 9901 | €57,265 | €28,168 | -€29,097 | -50.8% |
| Financial charges | 65/66B | €13 | €350 | +€337 | +2697.0% |
| Recurring financial charges | 65 | €13 | €350 | +€337 | +2697.0% |
| Profit (loss) for the period before taxes | 9903 | €57,253 | €27,818 | -€29,435 | -51.4% |
| Income taxes | 67/77 | - | €7,448 | +€7,448 | |
| Profit (loss) for the period | 9904 | €57,253 | €20,369 | -€36,883 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,253 | €20,369 | -€36,883 | -64.4% |
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 8 October 2026 via checked.be.