BOLD ADVICE: 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.
BOLD ADVICE
Largest movements
- Receivables within one year +€123,603
up €123,603 (+245.3%), from €50,379 to €173,981
of which Other amounts receivable: +€77,311
- Cash +€72,061
up €72,061 (+1567.8%), from €4,596 to €76,658
mainly Net result for the year (+€154,979) and Tax, wage and social debts (+€32,976)
- Receivables after one year -€9,142
down €9,142 (-22.6%), from €40,499 to €31,357
- Deferred charges and accrued income -€3,917
down €3,917 (-18.7%), from €20,995 to €17,078
- Reserves +€74,154
up €74,154 (+45.4%), from €163,165 to €237,319
- Profit (loss) carried forward +€71,201
no longer reported in 2025 (was -€71,201)
- Tax, wage and social debts +€32,976
up €32,976 (+149.0%), from €22,133 to €55,109
- Trade debts +€4,274
up €4,274 (+180.1%), from €2,373 to €6,647
- Gross operating margin +€197,110
up €197,110, from -€5,485 to €191,625
- Financial charges -€63,138
down €63,138 (-98.9%), from €63,837 to €699
- Taxes +€37,460
up €37,460 (+10910.4%), from €343 to €37,803
- Other operating charges -€2,619
down €2,619 (-50.8%), from €5,155 to €2,536
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 | €116,469 | €299,074 | +€182,605 | +156.8% |
| Current assets | 29/58 | €116,469 | €299,074 | +€182,605 | +156.8% |
| Amounts receivable after more than one year | 29 | €40,499 | €31,357 | -€9,142 | -22.6% |
| Other amounts receivable | 291 | €40,499 | €31,357 | -€9,142 | -22.6% |
| Amounts receivable within one year | 40/41 | €50,379 | €173,981 | +€123,603 | +245.3% |
| Trade receivables | 40 | €29,333 | €75,625 | +€46,292 | +157.8% |
| Other amounts receivable | 41 | €21,045 | €98,357 | +€77,311 | +367.4% |
| Cash at bank and in hand | 54/58 | €4,596 | €76,658 | +€72,061 | +1567.8% |
| Deferred charges and accrued income | 490/1 | €20,995 | €17,078 | -€3,917 | -18.7% |
| Total equity and liabilities | 10/49 | €116,469 | €299,074 | +€182,605 | +156.8% |
| Equity | 10/15 | €91,964 | €237,319 | +€145,355 | +158.1% |
| Reserves | 13 | €163,165 | €237,319 | +€74,154 | +45.4% |
| Distributable reserves | 133 | €163,165 | €237,319 | +€74,154 | +45.4% |
| Profit (loss) carried forward | 14 | -€71,201 | - | +€71,201 | |
| Amounts payable | 17/49 | €24,506 | €61,755 | +€37,250 | +152.0% |
| Amounts payable within one year | 42/48 | €24,506 | €61,755 | +€37,250 | +152.0% |
| Trade debts | 44 | €2,373 | €6,647 | +€4,274 | +180.1% |
| Suppliers | 440/4 | €2,373 | €6,647 | +€4,274 | +180.1% |
| Taxes, remuneration and social security | 45 | €22,133 | €55,109 | +€32,976 | +149.0% |
| Taxes | 450/3 | €22,133 | €55,109 | +€32,976 | +149.0% |
| Other operating charges | 640/8 | €5,155 | €2,536 | -€2,619 | -50.8% |
| Gross operating margin | 9900 | -€5,485 | €191,625 | +€197,110 | |
| Operating profit (loss) | 9901 | -€10,640 | €189,089 | +€199,729 | |
| Financial income | 75/76B | €3,619 | €4,392 | +€773 | +21.4% |
| Recurring financial income | 75 | €3,619 | €4,392 | +€773 | +21.4% |
| Financial charges | 65/66B | €63,837 | €699 | -€63,138 | -98.9% |
| Recurring financial charges | 65 | €63,837 | €699 | -€63,138 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | -€70,858 | €192,782 | +€263,640 | |
| Income taxes | 67/77 | €343 | €37,803 | +€37,460 | +10910.4% |
| Profit (loss) for the period | 9904 | -€71,201 | €154,979 | +€226,180 | |
| Profit (loss) for the period to be appropriated | 9905 | -€71,201 | €154,979 | +€226,180 |
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 1 October 2026 via checked.be.