BOX 32: 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.
BOX 32
Largest movements
- Receivables within one year +€8,481
up €8,481 (+32.4%), from €26,214 to €34,695
of which Other amounts receivable: +€16,107
- Tangible fixed assets -€2,048
down €2,048 (-10.6%), from €19,395 to €17,347
of which Furniture and vehicles: -€1,573
- Deferred charges and accrued income +€1,733
new in 2025: €1,733
- Cash +€1,182
up €1,182, from €0 to €1,182
mainly Tax, wage and social debts (+€18,020) and Depreciation (+€5,724)
- Tax, wage and social debts +€18,020
up €18,020 (+564%), from €3,195 to €21,215
of which Taxes: +€15,120
- Trade debts -€7,514
down €7,514 (-65.2%), from €11,519 to €4,004
- Short-term financial debts -€4,684
down €4,684 (-100%), from €4,684 to €0
- Current portion of long-term debt +€2,796
up €2,796 (+2,575%), from €109 to €2,904
- Other debts +€2,087
up €2,087 (+35.8%), from €5,827 to €7,914
- Gross operating margin -€6,719
down €6,719 (-47.4%), from €14,164 to €7,445
- Financial income +€1,596
up €1,596 (+2,532%), from €63 to €1,659
- Financial charges +€1,481
up €1,481 (+276%), from €537 to €2,018
- Other operating charges -€772
down €772 (-44.0%), from €1,754 to €982
- Depreciation +€466
up €466 (+8.9%), from €5,258 to €5,724
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 | €45,609 | €54,956 | +€9,347 | +20.5% |
| Fixed assets | 21/28 | €19,395 | €17,347 | -€2,048 | -10.6% |
| Tangible fixed assets | 22/27 | €19,395 | €17,347 | -€2,048 | -10.6% |
| Plant, machinery and equipment | 23 | €6,096 | €5,620 | -€476 | -7.8% |
| Furniture and vehicles | 24 | €13,299 | €11,726 | -€1,573 | -11.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €26,214 | €37,609 | +€11,395 | +43.5% |
| Amounts receivable within one year | 40/41 | €26,214 | €34,695 | +€8,481 | +32.4% |
| Trade receivables | 40 | €26,214 | €18,588 | -€7,626 | -29.1% |
| Other amounts receivable | 41 | - | €16,107 | +€16,107 | |
| Cash at bank and in hand | 54/58 | €0 | €1,182 | +€1,182 | |
| Deferred charges and accrued income | 490/1 | - | €1,733 | +€1,733 | |
| Total equity and liabilities | 10/49 | €45,609 | €54,956 | +€9,347 | +20.5% |
| Equity | 10/15 | €20,276 | €18,918 | -€1,358 | -6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €1,676 | €318 | -€1,358 | -81.0% |
| Amounts payable | 17/49 | €25,333 | €36,038 | +€10,704 | +42.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €25,333 | €36,038 | +€10,704 | +42.3% |
| Current portion of amounts payable after more than one year | 42 | €109 | €2,904 | +€2,796 | +2,575% |
| Financial debts | 43 | €4,684 | €0 | -€4,684 | -100% |
| Credit institutions | 430/8 | €4,684 | €0 | -€4,684 | -100% |
| Trade debts | 44 | €11,519 | €4,004 | -€7,514 | -65.2% |
| Suppliers | 440/4 | €11,519 | €4,004 | -€7,514 | -65.2% |
| Taxes, remuneration and social security | 45 | €3,195 | €21,215 | +€18,020 | +564% |
| Taxes | 450/3 | €3,195 | €18,315 | +€15,120 | +473% |
| Remuneration and social security | 454/9 | - | €2,900 | +€2,900 | |
| Other amounts payable | 47/48 | €5,827 | €7,914 | +€2,087 | +35.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,258 | €5,724 | +€466 | +8.9% |
| Other operating charges | 640/8 | €1,754 | €982 | -€772 | -44.0% |
| Gross operating margin | 9900 | €14,164 | €7,445 | -€6,719 | -47.4% |
| Operating profit (loss) | 9901 | €7,153 | €739 | -€6,414 | -89.7% |
| Financial income | 75/76B | €63 | €1,659 | +€1,596 | +2,532% |
| Recurring financial income | 75 | €63 | €1,659 | +€1,596 | +2,532% |
| Financial charges | 65/66B | €537 | €2,018 | +€1,481 | +276% |
| Recurring financial charges | 65 | €537 | €2,018 | +€1,481 | +276% |
| Profit (loss) for the period before taxes | 9903 | €6,678 | €380 | -€6,299 | -94.3% |
| Income taxes | 67/77 | €1,312 | €1,737 | +€425 | +32.4% |
| Profit (loss) for the period | 9904 | €5,366 | -€1,358 | -€6,724 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,366 | -€1,358 | -€6,724 |
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 13 October 2026 via checked.be.