Cédric BEAUJEAN: 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.
Cédric BEAUJEAN
Largest movements
- Cash +€65,371
up €65,371 (+182%), from €35,947 to €101,318
mainly Receivables within one year (+€32,590) and Net result for the year (+€18,466)
- Receivables within one year -€32,590
down €32,590 (-24.4%), from €133,515 to €100,925
of which Trade receivables: -€34,208
- Tangible fixed assets -€6,180
down €6,180 (-3.8%), from €164,326 to €158,147
of which Land and buildings: -€5,487
- Profit (loss) carried forward +€18,466
up €18,466 (+43.4%), from -€42,573 to -€24,106
- Tax, wage and social debts +€12,419
up €12,419 (+114%), from €10,848 to €23,267
of which Taxes: +€8,417
- Debts after one year -€7,626
down €7,626 (-7.5%), from €101,906 to €94,280
- Other debts +€3,865
up €3,865 (+2.0%), from €196,463 to €200,328
- Gross operating margin -€10,704
down €10,704 (-8.8%), from €121,423 to €110,718
- Staff costs +€7,203
up €7,203 (+12.3%), from €58,677 to €65,880
- Other operating charges +€6,122
up €6,122 (+244%), from €2,509 to €8,632
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 | €334,285 | €363,413 | +€29,128 | +8.7% |
| Fixed assets | 21/28 | €164,326 | €158,147 | -€6,180 | -3.8% |
| Tangible fixed assets | 22/27 | €164,326 | €158,147 | -€6,180 | -3.8% |
| Land and buildings | 22 | €151,940 | €146,453 | -€5,487 | -3.6% |
| Furniture and vehicles | 24 | €1,587 | €894 | -€692 | -43.6% |
| Other tangible fixed assets | 26 | €10,800 | €10,800 | = | 0.0% |
| Current assets | 29/58 | €169,959 | €205,266 | +€35,307 | +20.8% |
| Amounts receivable within one year | 40/41 | €133,515 | €100,925 | -€32,590 | -24.4% |
| Trade receivables | 40 | €41,615 | €7,407 | -€34,208 | -82.2% |
| Other amounts receivable | 41 | €91,900 | €93,518 | +€1,618 | +1.8% |
| Cash at bank and in hand | 54/58 | €35,947 | €101,318 | +€65,371 | +182% |
| Deferred charges and accrued income | 490/1 | €497 | €3,022 | +€2,526 | +508% |
| Total equity and liabilities | 10/49 | €334,285 | €363,413 | +€29,128 | +8.7% |
| Equity | 10/15 | -€22,573 | -€4,106 | +€18,466 | +81.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,573 | -€24,106 | +€18,466 | +43.4% |
| Amounts payable | 17/49 | €356,858 | €367,519 | +€10,662 | +3.0% |
| Amounts payable after more than one year | 17 | €101,906 | €94,280 | -€7,626 | -7.5% |
| Financial debts | 170/4 | €101,906 | €94,280 | -€7,626 | -7.5% |
| Amounts payable within one year | 42/48 | €252,452 | €270,253 | +€17,801 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €7,439 | €7,626 | +€187 | +2.5% |
| Trade debts | 44 | €37,702 | €39,033 | +€1,331 | +3.5% |
| Suppliers | 440/4 | €37,702 | €39,033 | +€1,331 | +3.5% |
| Taxes, remuneration and social security | 45 | €10,848 | €23,267 | +€12,419 | +114% |
| Taxes | 450/3 | €3,111 | €11,528 | +€8,417 | +271% |
| Remuneration and social security | 454/9 | €7,738 | €11,739 | +€4,002 | +51.7% |
| Other amounts payable | 47/48 | €196,463 | €200,328 | +€3,865 | +2.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,986 | +€486 | +19.4% |
| Remuneration, social security and pensions | 62 | €58,677 | €65,880 | +€7,203 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,504 | €6,180 | -€324 | -5.0% |
| Other operating charges | 640/8 | €2,509 | €8,632 | +€6,122 | +244% |
| Gross operating margin | 9900 | €121,423 | €110,718 | -€10,704 | -8.8% |
| Operating profit (loss) | 9901 | €53,733 | €30,027 | -€23,705 | -44.1% |
| Financial income | 75/76B | €320 | €39 | -€281 | -87.8% |
| Recurring financial income | 75 | €320 | €39 | -€281 | -87.8% |
| Financial charges | 65/66B | €6,201 | €5,060 | -€1,141 | -18.4% |
| Recurring financial charges | 65 | €6,201 | €5,060 | -€1,141 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €47,852 | €25,006 | -€22,846 | -47.7% |
| Income taxes | 67/77 | €6,652 | €6,540 | -€112 | -1.7% |
| Profit (loss) for the period | 9904 | €41,200 | €18,466 | -€22,734 | -55.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,200 | €18,466 | -€22,734 | -55.2% |
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 25 October 2026 via checked.be.