BUSINESS MARKERS: 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.
BUSINESS MARKERS
Largest movements
- Cash -€60,155
down €60,155 (-12.8%), from €468,622 to €408,467
mainly Trade debts (-€76,749) and Tax, wage and social debts (-€14,582)
- Receivables within one year -€29,063
down €29,063 (-3.6%), from €806,579 to €777,516
of which Trade receivables: -€113,007
- Trade debts -€76,749
down €76,749 (-8.0%), from €964,807 to €888,057
- Tax, wage and social debts -€14,582
down €14,582 (-36.1%), from €40,367 to €25,785
of which Taxes: -€22,367
- Gross operating margin -€65,938
down €65,938 (-32.2%), from €204,554 to €138,616
- Taxes -€28,053
down €28,053 (-78.9%), from €35,559 to €7,506
- Staff costs +€27,562
up €27,562 (+35.7%), from €77,111 to €104,673
- Other operating charges +€3,451
up €3,451 (+124%), from €2,783 to €6,235
- Financial charges +€2,777
up €2,777 (+521%), from €533 to €3,310
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 | €1,293,861 | €1,214,653 | -€79,208 | -6.1% |
| Fixed assets | 21/28 | €8,638 | €9,211 | +€573 | +6.6% |
| Intangible fixed assets | 21 | €5,161 | €7,065 | +€1,905 | +36.9% |
| Tangible fixed assets | 22/27 | €3,477 | €2,146 | -€1,331 | -38.3% |
| Furniture and vehicles | 24 | €3,477 | €2,146 | -€1,331 | -38.3% |
| Current assets | 29/58 | €1,285,223 | €1,205,442 | -€79,781 | -6.2% |
| Amounts receivable within one year | 40/41 | €806,579 | €777,516 | -€29,063 | -3.6% |
| Trade receivables | 40 | €797,085 | €684,078 | -€113,007 | -14.2% |
| Other amounts receivable | 41 | €9,494 | €93,438 | +€83,943 | +884% |
| Current investments | 50/53 | €8,048 | €8,048 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €468,622 | €408,467 | -€60,155 | -12.8% |
| Deferred charges and accrued income | 490/1 | €1,974 | €11,412 | +€9,437 | +478% |
| Total equity and liabilities | 10/49 | €1,293,861 | €1,214,653 | -€79,208 | -6.1% |
| Equity | 10/15 | €287,853 | €299,088 | +€11,235 | +3.9% |
| Contributions | 10/11 | €181,350 | €181,350 | = | 0.0% |
| Capital | 10 | €181,350 | €181,350 | = | 0.0% |
| Issued capital | 100 | €279,000 | €279,000 | = | 0.0% |
| Uncalled capital | 101 | €97,650 | €97,650 | = | 0.0% |
| Reserves | 13 | €106,503 | €117,738 | +€11,235 | +10.5% |
| Non-distributable reserves | 130/1 | €23,083 | €23,083 | = | 0.0% |
| Legal reserve | 130 | €11,888 | €11,888 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,147 | €3,147 | = | 0.0% |
| Own shares acquired | 1312 | €8,048 | €8,048 | = | 0.0% |
| Distributable reserves | 133 | €83,420 | €94,655 | +€11,235 | +13.5% |
| Amounts payable | 17/49 | €1,006,007 | €915,564 | -€90,443 | -9.0% |
| Amounts payable within one year | 42/48 | €1,006,007 | €914,791 | -€91,217 | -9.1% |
| Financial debts | 43 | €583 | €698 | +€115 | +19.7% |
| Credit institutions | 430/8 | €583 | €698 | +€115 | +19.7% |
| Trade debts | 44 | €964,807 | €888,057 | -€76,749 | -8.0% |
| Suppliers | 440/4 | €964,807 | €888,057 | -€76,749 | -8.0% |
| Advances received on contracts in progress | 46 | €250 | €250 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €40,367 | €25,785 | -€14,582 | -36.1% |
| Taxes | 450/3 | €35,699 | €13,331 | -€22,367 | -62.7% |
| Remuneration and social security | 454/9 | €4,669 | €12,454 | +€7,785 | +167% |
| Accrued charges and deferred income | 492/3 | - | €774 | +€774 | |
| Remuneration, social security and pensions | 62 | €77,111 | €104,673 | +€27,562 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,082 | €5,659 | +€577 | +11.4% |
| Other operating charges | 640/8 | €2,783 | €6,235 | +€3,451 | +124% |
| Non-recurring operating charges | 66A | €66 | - | -€66 | |
| Gross operating margin | 9900 | €204,554 | €138,616 | -€65,938 | -32.2% |
| Operating profit (loss) | 9901 | €119,512 | €22,049 | -€97,463 | -81.6% |
| Financial income | 75/76B | €1 | €2 | +€1 | +137% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +137% |
| Financial charges | 65/66B | €533 | €3,310 | +€2,777 | +521% |
| Recurring financial charges | 65 | €533 | €3,310 | +€2,777 | +521% |
| Profit (loss) for the period before taxes | 9903 | €118,979 | €18,741 | -€100,238 | -84.2% |
| Income taxes | 67/77 | €35,559 | €7,506 | -€28,053 | -78.9% |
| Profit (loss) for the period | 9904 | €83,420 | €11,235 | -€72,185 | -86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,420 | €11,235 | -€72,185 | -86.5% |
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 28 October 2026 via checked.be.