C & DW: 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.
C & DW
Largest movements
- Cash +€137,316
up €137,316 (+165.2%), from €83,126 to €220,442
mainly Net result for the year (+€126,853) and Depreciation (+€11,148)
- Tangible fixed assets -€10,360
down €10,360 (-48.8%), from €21,248 to €10,888
- Receivables within one year +€4,571
new in 2025: €4,571
- Reserves +€86,374
up €86,374 (+67.2%), from €128,612 to €214,986
- Profit (loss) carried forward +€40,478
no longer reported in 2025 (was -€40,478)
- Tax, wage and social debts +€9,292
up €9,292 (+1548.7%), from €600 to €9,892
- Other debts -€6,964
down €6,964 (-44.8%), from €15,540 to €8,576
- Gross operating margin +€195,840
up €195,840 (+1765.4%), from €11,093 to €206,933
- Taxes +€36,289
up €36,289 (+21346.7%), from €170 to €36,459
- Staff costs +€4,470
up €4,470 (+16.4%), from €27,184 to €31,654
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 | €104,374 | €235,901 | +€131,527 | +126.0% |
| Fixed assets | 21/28 | €21,248 | €10,888 | -€10,360 | -48.8% |
| Tangible fixed assets | 22/27 | €21,248 | €10,888 | -€10,360 | -48.8% |
| Furniture and vehicles | 24 | €21,248 | €10,888 | -€10,360 | -48.8% |
| Current assets | 29/58 | €83,126 | €225,013 | +€141,887 | +170.7% |
| Amounts receivable within one year | 40/41 | - | €4,571 | +€4,571 | |
| Trade receivables | 40 | - | €4,571 | +€4,571 | |
| Cash at bank and in hand | 54/58 | €83,126 | €220,442 | +€137,316 | +165.2% |
| Total equity and liabilities | 10/49 | €104,374 | €235,901 | +€131,527 | +126.0% |
| Equity | 10/15 | €88,234 | €215,086 | +€126,852 | +143.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €128,612 | €214,986 | +€86,374 | +67.2% |
| Distributable reserves | 133 | €128,612 | €214,986 | +€86,374 | +67.2% |
| Profit (loss) carried forward | 14 | -€40,478 | - | +€40,478 | |
| Amounts payable | 17/49 | €16,140 | €20,815 | +€4,675 | +29.0% |
| Amounts payable within one year | 42/48 | €16,140 | €18,909 | +€2,769 | +17.2% |
| Trade debts | 44 | - | €441 | +€441 | |
| Suppliers | 440/4 | - | €441 | +€441 | |
| Taxes, remuneration and social security | 45 | €600 | €9,892 | +€9,292 | +1548.7% |
| Taxes | 450/3 | €600 | €9,892 | +€9,292 | +1548.7% |
| Other amounts payable | 47/48 | €15,540 | €8,576 | -€6,964 | -44.8% |
| Accrued charges and deferred income | 492/3 | - | €1,906 | +€1,906 | |
| Remuneration, social security and pensions | 62 | €27,184 | €31,654 | +€4,470 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,985 | €11,148 | +€163 | +1.5% |
| Other operating charges | 640/8 | €1,155 | €661 | -€494 | -42.8% |
| Gross operating margin | 9900 | €11,093 | €206,933 | +€195,840 | +1765.4% |
| Operating profit (loss) | 9901 | -€28,231 | €163,471 | +€191,702 | |
| Financial income | 75/76B | €1 | €2 | +€1 | +99.0% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +99.0% |
| Financial charges | 65/66B | €226 | €161 | -€65 | -29.0% |
| Recurring financial charges | 65 | €226 | €161 | -€65 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | -€28,456 | €163,312 | +€191,768 | |
| Income taxes | 67/77 | €170 | €36,459 | +€36,289 | +21346.7% |
| Profit (loss) for the period | 9904 | -€28,626 | €126,853 | +€155,479 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,626 | €126,853 | +€155,479 |
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 11 October 2026 via checked.be.