Ca & Ro: what changed
Ca & Ro
Largest movements
- Tangible fixed assets -€13,512
down €13,512 (-17.3%), from €78,278 to €64,765
of which Plant, machinery and equipment: -€12,887
- Cash -€6,086
down €6,086 (-9.6%), from €63,606 to €57,520
mainly Other debts (-€44,033) and Debts after one year (-€11,613)
- Intangible fixed assets -€5,000
down €5,000 (-19.0%), from €26,250 to €21,250
- Other debts -€44,033
no longer reported in 2025 (was €44,033)
- Reserves +€40,738
up €40,738 (+26.4%), from €154,358 to €195,095
- Debts after one year -€11,613
down €11,613 (-20.2%), from €57,611 to €45,998
- Tax, wage and social debts +€7,624
up €7,624 (+39.2%), from €19,426 to €27,050
of which Taxes: +€6,124
- Trade debts -€6,456
down €6,456 (-66.1%), from €9,767 to €3,311
- Gross operating margin +€38,050
up €38,050 (+79.2%), from €48,034 to €86,084
- Taxes +€13,330
up €13,330 (+415%), from €3,214 to €16,544
- Financial income +€8,575
up €8,575 (+2,154%), from €398 to €8,973
- Financial charges +€6,099
up €6,099 (+55.4%), from €11,003 to €17,102
- Depreciation -€2,625
down €2,625 (-12.4%), from €21,137 to €18,512
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €419,834 | €398,679 | -€21,155 | -5.0% |
| Fixed assets | 21/28 | €104,528 | €86,015 | -€18,512 | -17.7% |
| Intangible fixed assets | 21 | €26,250 | €21,250 | -€5,000 | -19.0% |
| Tangible fixed assets | 22/27 | €78,278 | €64,765 | -€13,512 | -17.3% |
| Plant, machinery and equipment | 23 | €77,653 | €64,765 | -€12,887 | -16.6% |
| Furniture and vehicles | 24 | €625 | - | -€625 | |
| Current assets | 29/58 | €315,307 | €312,664 | -€2,643 | -0.8% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,700 | €5,144 | +€3,443 | +203% |
| Trade receivables | 40 | - | €738 | +€738 | |
| Other amounts receivable | 41 | €1,700 | €4,406 | +€2,706 | +159% |
| Cash at bank and in hand | 54/58 | €63,606 | €57,520 | -€6,086 | -9.6% |
| Total equity and liabilities | 10/49 | €419,834 | €398,679 | -€21,155 | -5.0% |
| Equity | 10/15 | €167,824 | €208,562 | +€40,738 | +24.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €154,358 | €195,095 | +€40,738 | +26.4% |
| Distributable reserves | 133 | €154,358 | €195,095 | +€40,738 | +26.4% |
| Profit (loss) carried forward | 14 | €3,466 | €3,466 | = | 0.0% |
| Amounts payable | 17/49 | €252,010 | €190,117 | -€61,893 | -24.6% |
| Amounts payable after more than one year | 17 | €57,611 | €45,998 | -€11,613 | -20.2% |
| Financial debts | 170/4 | €57,611 | €45,998 | -€11,613 | -20.2% |
| Amounts payable within one year | 42/48 | €194,399 | €144,119 | -€50,280 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €15,048 | €11,613 | -€3,436 | -22.8% |
| Trade debts | 44 | €9,767 | €3,311 | -€6,456 | -66.1% |
| Suppliers | 440/4 | €9,767 | €3,311 | -€6,456 | -66.1% |
| Advances received on contracts in progress | 46 | €106,125 | €102,146 | -€3,979 | -3.7% |
| Taxes, remuneration and social security | 45 | €19,426 | €27,050 | +€7,624 | +39.2% |
| Taxes | 450/3 | €19,426 | €25,550 | +€6,124 | +31.5% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €44,033 | - | -€44,033 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,137 | €18,512 | -€2,625 | -12.4% |
| Other operating charges | 640/8 | €2,481 | €2,160 | -€320 | -12.9% |
| Non-recurring operating charges | 66A | €1,238 | - | -€1,238 | |
| Gross operating margin | 9900 | €48,034 | €86,084 | +€38,050 | +79.2% |
| Operating profit (loss) | 9901 | €23,177 | €65,411 | +€42,234 | +182% |
| Financial income | 75/76B | €398 | €8,973 | +€8,575 | +2,154% |
| Recurring financial income | 75 | €398 | €8,973 | +€8,575 | +2,154% |
| Financial charges | 65/66B | €11,003 | €17,102 | +€6,099 | +55.4% |
| Recurring financial charges | 65 | €11,003 | €17,102 | +€6,099 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €12,572 | €57,282 | +€44,710 | +356% |
| Income taxes | 67/77 | €3,214 | €16,544 | +€13,330 | +415% |
| Profit (loss) for the period | 9904 | €9,358 | €40,738 | +€31,380 | +335% |
| Profit (loss) for the period to be appropriated | 9905 | €9,358 | €40,738 | +€31,380 | +335% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.