CHALLENGE THE NORM: 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.
CHALLENGE THE NORM
Largest movements
- Financial fixed assets +€20,513
new in 2025: €20,513
- Receivables within one year -€13,982
down €13,982 (-17.3%), from €80,942 to €66,961
of which Other amounts receivable: -€19,013
- Receivables after one year +€12,500
up €12,500 (+62.5%), from €20,000 to €32,500
- Tangible fixed assets -€6,974
down €6,974 (-18.0%), from €38,785 to €31,810
of which Furniture and vehicles: -€4,921
- Reserves +€144,871
new in 2025: €144,871
- Profit (loss) carried forward -€126,299
down €126,299 (-100%), from €126,299 to €0
- Tax, wage and social debts -€7,644
down €7,644 (-76.0%), from €10,055 to €2,412
- Gross operating margin +€42,057
up €42,057 (+27.2%), from €154,450 to €196,507
- Taxes +€10,856
up €10,856 (+32.2%), from €33,755 to €44,612
- Depreciation +€3,379
up €3,379 (+94.0%), from €3,595 to €6,974
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 | €145,867 | €155,868 | +€10,002 | +6.9% |
| Fixed assets | 21/28 | €38,785 | €52,324 | +€13,539 | +34.9% |
| Tangible fixed assets | 22/27 | €38,785 | €31,810 | -€6,974 | -18.0% |
| Furniture and vehicles | 24 | €21,863 | €16,943 | -€4,921 | -22.5% |
| Other tangible fixed assets | 26 | €16,921 | €14,868 | -€2,053 | -12.1% |
| Financial fixed assets | 28 | - | €20,513 | +€20,513 | |
| Current assets | 29/58 | €107,082 | €103,545 | -€3,537 | -3.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €32,500 | +€12,500 | +62.5% |
| Other amounts receivable | 291 | €20,000 | €32,500 | +€12,500 | +62.5% |
| Amounts receivable within one year | 40/41 | €80,942 | €66,961 | -€13,982 | -17.3% |
| Trade receivables | 40 | €1,493 | €6,525 | +€5,032 | +337% |
| Other amounts receivable | 41 | €79,449 | €60,436 | -€19,013 | -23.9% |
| Cash at bank and in hand | 54/58 | €2,246 | €1,269 | -€977 | -43.5% |
| Deferred charges and accrued income | 490/1 | €3,893 | €2,815 | -€1,079 | -27.7% |
| Total equity and liabilities | 10/49 | €145,867 | €155,868 | +€10,002 | +6.9% |
| Equity | 10/15 | €133,799 | €152,371 | +€18,572 | +13.9% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | - | €144,871 | +€144,871 | |
| Distributable reserves | 133 | - | €144,871 | +€144,871 | |
| Profit (loss) carried forward | 14 | €126,299 | €0 | -€126,299 | -100% |
| Amounts payable | 17/49 | €12,067 | €3,497 | -€8,570 | -71.0% |
| Amounts payable within one year | 42/48 | €12,067 | €3,497 | -€8,570 | -71.0% |
| Trade debts | 44 | €641 | €1,085 | +€444 | +69.2% |
| Suppliers | 440/4 | €641 | €1,085 | +€444 | +69.2% |
| Advances received on contracts in progress | 46 | €1,371 | €0 | -€1,371 | -100% |
| Taxes, remuneration and social security | 45 | €10,055 | €2,412 | -€7,644 | -76.0% |
| Taxes | 450/3 | €10,055 | €2,412 | -€7,644 | -76.0% |
| Non-recurring operating income | 76A | €3,184 | €0 | -€3,184 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,595 | €6,974 | +€3,379 | +94.0% |
| Other operating charges | 640/8 | €479 | €1,382 | +€903 | +188% |
| Gross operating margin | 9900 | €154,450 | €196,507 | +€42,057 | +27.2% |
| Operating profit (loss) | 9901 | €150,376 | €188,151 | +€37,775 | +25.1% |
| Financial income | 75/76B | €1,264 | €1,711 | +€447 | +35.4% |
| Recurring financial income | 75 | €1,264 | €1,711 | +€447 | +35.4% |
| Financial charges | 65/66B | €343 | €378 | +€35 | +10.3% |
| Recurring financial charges | 65 | €343 | €378 | +€35 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €151,296 | €189,483 | +€38,187 | +25.2% |
| Income taxes | 67/77 | €33,755 | €44,612 | +€10,856 | +32.2% |
| Profit (loss) for the period | 9904 | €117,541 | €144,871 | +€27,330 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €117,541 | €144,871 | +€27,330 | +23.3% |
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 22 October 2026 via checked.be.