CO-a: 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.
CO-a
Largest movements
- Tangible fixed assets -€33,871
down €33,871 (-53.3%), from €63,528 to €29,657
of which Land and buildings: -€30,662
- Receivables within one year +€15,325
up €15,325 (+81.9%), from €18,712 to €34,037
of which Other amounts receivable: +€15,325
- Current investments -€9,901
down €9,901 (-44.9%), from €22,071 to €12,169
- Deferred charges and accrued income -€2,976
down €2,976 (-79.2%), from €3,760 to €784
- Cash +€2,791
up €2,791 (+11.0%), from €25,316 to €28,107
mainly Depreciation (+€33,871) and Current investments (+€9,901)
- Debts after one year -€16,500
down €16,500 (-80.0%), from €20,625 to €4,125
- Profit (loss) carried forward -€13,579
down €13,579 (-12.6%), from €108,148 to €94,570
- Gross operating margin +€1,476
up €1,476 (+4.9%), from €29,873 to €31,349
- Financial charges -€715
down €715 (-33.5%), from €2,130 to €1,416
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 | €184,516 | €155,884 | -€28,632 | -15.5% |
| Fixed assets | 21/28 | €63,778 | €29,907 | -€33,871 | -53.1% |
| Tangible fixed assets | 22/27 | €63,528 | €29,657 | -€33,871 | -53.3% |
| Land and buildings | 22 | €58,135 | €27,473 | -€30,662 | -52.7% |
| Furniture and vehicles | 24 | €5,394 | €2,185 | -€3,209 | -59.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €120,737 | €125,976 | +€5,239 | +4.3% |
| Amounts receivable after more than one year | 29 | €50,879 | €50,879 | = | 0.0% |
| Trade receivables | 290 | €50,879 | €0 | -€50,879 | -100% |
| Other amounts receivable | 291 | - | €50,879 | +€50,879 | |
| Amounts receivable within one year | 40/41 | €18,712 | €34,037 | +€15,325 | +81.9% |
| Trade receivables | 40 | €5,445 | €5,445 | = | 0.0% |
| Other amounts receivable | 41 | €13,267 | €28,592 | +€15,325 | +116% |
| Current investments | 50/53 | €22,071 | €12,169 | -€9,901 | -44.9% |
| Cash at bank and in hand | 54/58 | €25,316 | €28,107 | +€2,791 | +11.0% |
| Deferred charges and accrued income | 490/1 | €3,760 | €784 | -€2,976 | -79.2% |
| Total equity and liabilities | 10/49 | €184,516 | €155,884 | -€28,632 | -15.5% |
| Equity | 10/15 | €130,396 | €116,818 | -€13,579 | -10.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,048 | €16,048 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,416 | €13,416 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,416 | €13,416 | = | 0.0% |
| Distributable reserves | 133 | €2,632 | €2,632 | = | 0.0% |
| Profit (loss) carried forward | 14 | €108,148 | €94,570 | -€13,579 | -12.6% |
| Amounts payable | 17/49 | €54,119 | €39,066 | -€15,053 | -27.8% |
| Amounts payable after more than one year | 17 | €20,625 | €4,125 | -€16,500 | -80.0% |
| Financial debts | 170/4 | €20,625 | €4,125 | -€16,500 | -80.0% |
| Amounts payable within one year | 42/48 | €30,564 | €32,127 | +€1,563 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €16,500 | €16,500 | = | 0.0% |
| Financial debts | 43 | €276 | €66 | -€210 | -76.1% |
| Credit institutions | 430/8 | €276 | €66 | -€210 | -76.1% |
| Trade debts | 44 | €4,757 | €5,204 | +€447 | +9.4% |
| Suppliers | 440/4 | €4,757 | €5,204 | +€447 | +9.4% |
| Taxes, remuneration and social security | 45 | €9,031 | €10,357 | +€1,326 | +14.7% |
| Taxes | 450/3 | €9,031 | €10,357 | +€1,326 | +14.7% |
| Accrued charges and deferred income | 492/3 | €2,930 | €2,813 | -€117 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,689 | €33,871 | +€182 | +0.5% |
| Other operating charges | 640/8 | €3,150 | €3,310 | +€160 | +5.1% |
| Gross operating margin | 9900 | €29,873 | €31,349 | +€1,476 | +4.9% |
| Operating profit (loss) | 9901 | -€6,966 | -€5,832 | +€1,134 | +16.3% |
| Financial income | 75/76B | €101 | €141 | +€40 | +40.1% |
| Recurring financial income | 75 | €101 | €141 | +€40 | +40.1% |
| Financial charges | 65/66B | €2,130 | €1,416 | -€715 | -33.5% |
| Recurring financial charges | 65 | €2,130 | €1,416 | -€715 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,995 | -€7,106 | +€1,889 | +21.0% |
| Income taxes | 67/77 | €136 | €42 | -€93 | -68.8% |
| Profit (loss) for the period | 9904 | -€9,131 | -€7,149 | +€1,982 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,131 | -€7,149 | +€1,982 | +21.7% |
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 14 October 2026 via checked.be.