Bronze: 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.
Bronze
Largest movements
- Stocks and contracts -€53,669
down €53,669 (-38.7%), from €138,812 to €85,143
- Receivables within one year +€22,938
up €22,938 (+98.8%), from €23,218 to €46,155
of which Other amounts receivable: +€12,953
- Deferred charges and accrued income -€5,045
down €5,045 (-86.6%), from €5,826 to €781
- Tangible fixed assets +€1,926
up €1,926 (+74.3%), from €2,594 to €4,521
of which Furniture and vehicles: +€2,990
- Profit (loss) carried forward -€74,903
down €74,903, from €66,526 to -€8,377
- Tax, wage and social debts +€58,660
up €58,660 (+112.1%), from €52,318 to €110,978
of which Remuneration and social security: +€44,314
- Trade debts -€20,709
down €20,709 (-65.8%), from €31,471 to €10,762
- Other debts +€1,786
up €1,786 (+15.2%), from €11,748 to €13,534
- Accrued charges and deferred income +€1,784
up €1,784 (+129.2%), from €1,380 to €3,164
- Gross operating margin -€60,190
down €60,190, from €46,682 to -€13,509
- Taxes -€4,908
no longer reported in 2025 (was €4,908)
- Staff costs -€4,559
down €4,559 (-18.2%), from €24,992 to €20,433
- Other operating charges -€1,975
down €1,975 (-83.2%), from €2,375 to €400
- Financial income -€1,958
down €1,958 (-98.4%), from €1,989 to €31
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €171,943 | €138,561 | -€33,382 | -19.4% |
| Fixed assets | 21/28 | €2,594 | €4,521 | +€1,926 | +74.3% |
| Tangible fixed assets | 22/27 | €2,594 | €4,521 | +€1,926 | +74.3% |
| Plant, machinery and equipment | 23 | €1,634 | €796 | -€837 | -51.3% |
| Furniture and vehicles | 24 | - | €2,990 | +€2,990 | |
| Other tangible fixed assets | 26 | €960 | €734 | -€227 | -23.6% |
| Current assets | 29/58 | €169,349 | €134,040 | -€35,309 | -20.8% |
| Stocks and contracts in progress | 3 | €138,812 | €85,143 | -€53,669 | -38.7% |
| Stocks | 30/36 | €138,812 | €85,143 | -€53,669 | -38.7% |
| Amounts receivable within one year | 40/41 | €23,218 | €46,155 | +€22,938 | +98.8% |
| Trade receivables | 40 | €21,325 | €31,310 | +€9,985 | +46.8% |
| Other amounts receivable | 41 | €1,893 | €14,846 | +€12,953 | +684.4% |
| Cash at bank and in hand | 54/58 | €1,493 | €1,960 | +€467 | +31.3% |
| Deferred charges and accrued income | 490/1 | €5,826 | €781 | -€5,045 | -86.6% |
| Total equity and liabilities | 10/49 | €171,943 | €138,561 | -€33,382 | -19.4% |
| Equity | 10/15 | €75,026 | €123 | -€74,903 | -99.8% |
| Contributions | 10/11 | €8,500 | €8,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,526 | -€8,377 | -€74,903 | |
| Amounts payable | 17/49 | €96,917 | €138,438 | +€41,521 | +42.8% |
| Amounts payable within one year | 42/48 | €95,537 | €135,274 | +€39,738 | +41.6% |
| Trade debts | 44 | €31,471 | €10,762 | -€20,709 | -65.8% |
| Suppliers | 440/4 | €31,471 | €10,762 | -€20,709 | -65.8% |
| Taxes, remuneration and social security | 45 | €52,318 | €110,978 | +€58,660 | +112.1% |
| Taxes | 450/3 | €45,115 | €59,460 | +€14,345 | +31.8% |
| Remuneration and social security | 454/9 | €7,203 | €51,518 | +€44,314 | +615.2% |
| Other amounts payable | 47/48 | €11,748 | €13,534 | +€1,786 | +15.2% |
| Accrued charges and deferred income | 492/3 | €1,380 | €3,164 | +€1,784 | +129.2% |
| Remuneration, social security and pensions | 62 | €24,992 | €20,433 | -€4,559 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,497 | €866 | -€631 | -42.2% |
| Other operating charges | 640/8 | €2,375 | €400 | -€1,975 | -83.2% |
| Gross operating margin | 9900 | €46,682 | -€13,509 | -€60,190 | |
| Operating profit (loss) | 9901 | €17,818 | -€35,207 | -€53,025 | |
| Financial income | 75/76B | €1,989 | €31 | -€1,958 | -98.4% |
| Recurring financial income | 75 | €1,989 | €31 | -€1,958 | -98.4% |
| Financial charges | 65/66B | €1,059 | €1,202 | +€143 | +13.5% |
| Recurring financial charges | 65 | €1,059 | €1,202 | +€143 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €18,748 | -€36,378 | -€55,125 | |
| Income taxes | 67/77 | €4,908 | - | -€4,908 | |
| Profit (loss) for the period | 9904 | €13,840 | -€36,378 | -€50,217 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,840 | -€36,378 | -€50,217 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.