BOX: 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.
BOX
Largest movements
- Cash +€52,459
up €52,459 (+27.5%), from €190,462 to €242,921
mainly Net result for the year (+€24,500) and Trade debts (+€11,076)
- Tangible fixed assets -€8,666
down €8,666 (-14.9%), from €58,091 to €49,424
of which Land and buildings: -€8,240
- Profit (loss) carried forward +€24,500
up €24,500 (+25.4%), from €96,381 to €120,882
- Trade debts +€11,076
up €11,076 (+1141.9%), from €970 to €12,046
- Debts after one year -€7,885
down €7,885 (-40.9%), from €19,283 to €11,398
- Accrued charges and deferred income +€6,000
new in 2025: €6,000
- Tax, wage and social debts +€5,988
up €5,988 (+526.0%), from €1,138 to €7,127
- Gross operating margin +€14,837
up €14,837 (+58.7%), from €25,295 to €40,132
- Other operating charges +€1,118
new in 2025: €1,118
- Financial income +€741
up €741 (+37.0%), from €2,000 to €2,741
- Financial charges -€574
no longer reported in 2025 (was €574)
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 | €258,973 | €300,225 | +€41,252 | +15.9% |
| Fixed assets | 21/28 | €58,091 | €49,424 | -€8,666 | -14.9% |
| Tangible fixed assets | 22/27 | €58,091 | €49,424 | -€8,666 | -14.9% |
| Land and buildings | 22 | €57,238 | €48,998 | -€8,240 | -14.4% |
| Plant, machinery and equipment | 23 | €853 | €426 | -€426 | -50.0% |
| Current assets | 29/58 | €200,883 | €250,801 | +€49,918 | +24.8% |
| Amounts receivable within one year | 40/41 | €9,801 | €7,260 | -€2,541 | -25.9% |
| Trade receivables | 40 | €9,801 | €7,260 | -€2,541 | -25.9% |
| Current investments | 50/53 | €620 | €620 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €190,462 | €242,921 | +€52,459 | +27.5% |
| Total equity and liabilities | 10/49 | €258,973 | €300,225 | +€41,252 | +15.9% |
| Equity | 10/15 | €222,843 | €247,344 | +€24,500 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,862 | €107,862 | = | 0.0% |
| 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 | €106,002 | €106,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,381 | €120,882 | +€24,500 | +25.4% |
| Amounts payable | 17/49 | €36,130 | €52,882 | +€16,751 | +46.4% |
| Amounts payable after more than one year | 17 | €19,283 | €11,398 | -€7,885 | -40.9% |
| Financial debts | 170/4 | €19,283 | €11,398 | -€7,885 | -40.9% |
| Amounts payable within one year | 42/48 | €16,847 | €35,484 | +€18,637 | +110.6% |
| Current portion of amounts payable after more than one year | 42 | €9,755 | €9,885 | +€130 | +1.3% |
| Trade debts | 44 | €970 | €12,046 | +€11,076 | +1141.9% |
| Suppliers | 440/4 | €970 | €12,046 | +€11,076 | +1141.9% |
| Taxes, remuneration and social security | 45 | €1,138 | €7,127 | +€5,988 | +526.0% |
| Taxes | 450/3 | €1,138 | €7,127 | +€5,988 | +526.0% |
| Other amounts payable | 47/48 | €4,984 | €6,426 | +€1,443 | +28.9% |
| Accrued charges and deferred income | 492/3 | - | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,666 | €8,666 | = | 0.0% |
| Other operating charges | 640/8 | - | €1,118 | +€1,118 | |
| Gross operating margin | 9900 | €25,295 | €40,132 | +€14,837 | +58.7% |
| Operating profit (loss) | 9901 | €16,629 | €30,347 | +€13,719 | +82.5% |
| Financial income | 75/76B | €2,000 | €2,741 | +€741 | +37.0% |
| Recurring financial income | 75 | €2,000 | €2,741 | +€741 | +37.0% |
| Financial charges | 65/66B | €574 | - | -€574 | |
| Recurring financial charges | 65 | €574 | - | -€574 | |
| Profit (loss) for the period before taxes | 9903 | €18,054 | €33,088 | +€15,034 | +83.3% |
| Income taxes | 67/77 | €8,565 | €8,588 | +€23 | +0.3% |
| Profit (loss) for the period | 9904 | €9,489 | €24,500 | +€15,011 | +158.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,489 | €24,500 | +€15,011 | +158.2% |
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 3 October 2026 via checked.be.