BULL'S EYE: 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.
BULL'S EYE
Largest movements
- Cash +€43,277
up €43,277 (+142%), from €30,439 to €73,716
mainly Depreciation (+€35,145) and Deferred charges and accrued income (+€32,217)
- Deferred charges and accrued income -€32,217
down €32,217 (-76.1%), from €42,316 to €10,099
- Tangible fixed assets -€29,650
down €29,650 (-4.7%), from €632,482 to €602,831
of which Land and buildings: -€16,500
- Other debts -€14,821
down €14,821 (-13.0%), from €113,908 to €99,087
- Trade debts +€12,614
up €12,614 (+11.7%), from €107,681 to €120,296
- Debts after one year -€12,419
down €12,419 (-69.8%), from €17,784 to €5,364
- Other operating charges -€11,201
down €11,201 (-68.6%), from €16,336 to €5,135
- Gross operating margin -€8,377
down €8,377 (-17.1%), from €48,937 to €40,560
- Depreciation +€2,402
up €2,402 (+7.3%), from €32,744 to €35,145
- Financial charges -€524
down €524 (-9.8%), from €5,350 to €4,825
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 | €707,838 | €688,649 | -€19,189 | -2.7% |
| Fixed assets | 21/28 | €633,132 | €602,831 | -€30,300 | -4.8% |
| Tangible fixed assets | 22/27 | €632,482 | €602,831 | -€29,650 | -4.7% |
| Land and buildings | 22 | €501,332 | €484,833 | -€16,500 | -3.3% |
| Plant, machinery and equipment | 23 | €119,423 | €112,158 | -€7,265 | -6.1% |
| Furniture and vehicles | 24 | €11,726 | €5,841 | -€5,885 | -50.2% |
| Financial fixed assets | 28 | €650 | - | -€650 | |
| Current assets | 29/58 | €74,706 | €85,818 | +€11,112 | +14.9% |
| Amounts receivable within one year | 40/41 | €1,951 | €2,003 | +€53 | +2.7% |
| Trade receivables | 40 | €1,951 | €2,003 | +€53 | +2.7% |
| Cash at bank and in hand | 54/58 | €30,439 | €73,716 | +€43,277 | +142% |
| Deferred charges and accrued income | 490/1 | €42,316 | €10,099 | -€32,217 | -76.1% |
| Total equity and liabilities | 10/49 | €707,838 | €688,649 | -€19,189 | -2.7% |
| Equity | 10/15 | €455,140 | €450,807 | -€4,333 | -1.0% |
| Contributions | 10/11 | €382,000 | €382,000 | = | 0.0% |
| Reserves | 13 | €82,681 | €82,681 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €78,681 | €78,681 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,542 | -€13,874 | -€4,333 | -45.4% |
| Amounts payable | 17/49 | €252,698 | €237,842 | -€14,856 | -5.9% |
| Amounts payable after more than one year | 17 | €17,784 | €5,364 | -€12,419 | -69.8% |
| Financial debts | 170/4 | €17,784 | €5,364 | -€12,419 | -69.8% |
| Amounts payable within one year | 42/48 | €234,705 | €232,478 | -€2,227 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €11,803 | €12,419 | +€616 | +5.2% |
| Trade debts | 44 | €107,681 | €120,296 | +€12,614 | +11.7% |
| Suppliers | 440/4 | €107,681 | €120,296 | +€12,614 | +11.7% |
| Taxes, remuneration and social security | 45 | €1,312 | €676 | -€636 | -48.5% |
| Taxes | 450/3 | €1,312 | €676 | -€636 | -48.5% |
| Other amounts payable | 47/48 | €113,908 | €99,087 | -€14,821 | -13.0% |
| Accrued charges and deferred income | 492/3 | €210 | - | -€210 | |
| Non-recurring operating income | 76A | - | €383 | +€383 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,744 | €35,145 | +€2,402 | +7.3% |
| Other operating charges | 640/8 | €16,336 | €5,135 | -€11,201 | -68.6% |
| Gross operating margin | 9900 | €48,937 | €40,560 | -€8,377 | -17.1% |
| Operating profit (loss) | 9901 | -€143 | €280 | +€423 | |
| Financial income | 75/76B | €337 | €494 | +€157 | +46.6% |
| Recurring financial income | 75 | €337 | €494 | +€157 | +46.6% |
| Financial charges | 65/66B | €5,350 | €4,825 | -€524 | -9.8% |
| Recurring financial charges | 65 | €5,350 | €4,825 | -€524 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,156 | -€4,052 | +€1,104 | +21.4% |
| Income taxes | 67/77 | €269 | €281 | +€12 | +4.5% |
| Profit (loss) for the period | 9904 | -€5,425 | -€4,333 | +€1,092 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,425 | -€4,333 | +€1,092 | +20.1% |
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 1 November 2026 via checked.be.