BEXPERTISE-Be 4: 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.
BEXPERTISE-Be 4
Largest movements
- Tangible fixed assets +€538,174
up €538,174 (+70.5%), from €763,212 to €1.3m
of which Land and buildings: +€527,603
- Receivables within one year -€21,033
down €21,033 (-34.2%), from €61,476 to €40,443
of which Trade receivables: -€30,075
- Debts after one year +€415,190
up €415,190 (+106%), from €392,235 to €807,426
- Current portion of long-term debt +€43,408
up €43,408 (+759%), from €5,718 to €49,126
- Other debts +€36,828
up €36,828 (+16,193%), from €227 to €37,056
- Reserves +€25,511
up €25,511 (+6.3%), from €408,029 to €433,539
- Advances received -€16,078
no longer reported in 2025 (was €16,078)
- Depreciation +€16,647
up €16,647 (+54.3%), from €30,637 to €47,284
- Financial charges +€16,141
up €16,141 (+85.3%), from €18,922 to €35,063
- Taxes -€14,094
down €14,094 (-51.3%), from €27,460 to €13,366
- Provisions +€10,380
new in 2025: €10,380
- Other operating charges +€1,887
up €1,887 (+35.7%), from €5,290 to €7,176
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 | €894,789 | €1,407,063 | +€512,274 | +57.3% |
| Fixed assets | 21/28 | €810,877 | €1,349,050 | +€538,174 | +66.4% |
| Tangible fixed assets | 22/27 | €763,212 | €1,301,385 | +€538,174 | +70.5% |
| Land and buildings | 22 | €754,710 | €1,282,312 | +€527,603 | +69.9% |
| Plant, machinery and equipment | 23 | €5,050 | €3,644 | -€1,406 | -27.8% |
| Furniture and vehicles | 24 | €3,452 | €15,429 | +€11,977 | +347% |
| Financial fixed assets | 28 | €47,665 | €47,665 | = | 0.0% |
| Current assets | 29/58 | €83,912 | €58,012 | -€25,900 | -30.9% |
| Amounts receivable within one year | 40/41 | €61,476 | €40,443 | -€21,033 | -34.2% |
| Trade receivables | 40 | €55,950 | €25,875 | -€30,075 | -53.8% |
| Other amounts receivable | 41 | €5,526 | €14,568 | +€9,042 | +164% |
| Cash at bank and in hand | 54/58 | €19,575 | €16,379 | -€3,196 | -16.3% |
| Deferred charges and accrued income | 490/1 | €2,861 | €1,191 | -€1,671 | -58.4% |
| Total equity and liabilities | 10/49 | €894,789 | €1,407,063 | +€512,274 | +57.3% |
| Equity | 10/15 | €443,529 | €469,039 | +€25,511 | +5.8% |
| Contributions | 10/11 | €35,500 | €35,500 | = | 0.0% |
| Reserves | 13 | €408,029 | €433,539 | +€25,511 | +6.3% |
| Distributable reserves | 133 | €408,029 | €433,539 | +€25,511 | +6.3% |
| Amounts payable | 17/49 | €451,260 | €938,023 | +€486,763 | +108% |
| Amounts payable after more than one year | 17 | €392,235 | €807,426 | +€415,190 | +106% |
| Financial debts | 170/4 | €392,235 | €807,426 | +€415,190 | +106% |
| Amounts payable within one year | 42/48 | €59,025 | €130,598 | +€71,573 | +121% |
| Current portion of amounts payable after more than one year | 42 | €5,718 | €49,126 | +€43,408 | +759% |
| Financial debts | 43 | €3 | - | -€3 | |
| Credit institutions | 430/8 | €3 | - | -€3 | |
| Trade debts | 44 | €26,342 | €31,409 | +€5,067 | +19.2% |
| Suppliers | 440/4 | €26,342 | €31,409 | +€5,067 | +19.2% |
| Advances received on contracts in progress | 46 | €16,078 | - | -€16,078 | |
| Taxes, remuneration and social security | 45 | €10,655 | €13,007 | +€2,351 | +22.1% |
| Taxes | 450/3 | €10,655 | €13,007 | +€2,351 | +22.1% |
| Other amounts payable | 47/48 | €227 | €37,056 | +€36,828 | +16,193% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,637 | €47,284 | +€16,647 | +54.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €10,380 | +€10,380 | |
| Other operating charges | 640/8 | €5,290 | €7,176 | +€1,887 | +35.7% |
| Gross operating margin | 9900 | €138,786 | €138,779 | -€7 | 0.0% |
| Operating profit (loss) | 9901 | €102,859 | €73,939 | -€28,920 | -28.1% |
| Financial income | 75/76B | €0 | €1 | +€0 | +88.4% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +88.4% |
| Financial charges | 65/66B | €18,922 | €35,063 | +€16,141 | +85.3% |
| Recurring financial charges | 65 | €18,922 | €35,063 | +€16,141 | +85.3% |
| Profit (loss) for the period before taxes | 9903 | €83,937 | €38,877 | -€45,061 | -53.7% |
| Income taxes | 67/77 | €27,460 | €13,366 | -€14,094 | -51.3% |
| Profit (loss) for the period | 9904 | €56,477 | €25,511 | -€30,967 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,477 | €25,511 | -€30,967 | -54.8% |
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.