CODE K: what changed
Two fiscal 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.
CODE K
Largest movements
- Receivables within one year +€6,360
up €6,360 (+24.2%), from €26,261 to €32,621
of which Trade receivables: +€7,809
- Tangible fixed assets +€2,496
up €2,496 (+126.3%), from €1,975 to €4,471
of which Furniture and vehicles: +€2,078
- Other debts -€24,874
down €24,874 (-46.0%), from €54,094 to €29,220
- Profit (loss) carried forward +€24,134
up €24,134 (+14.7%), from €164,062 to €188,196
- Trade debts +€5,172
up €5,172 (+89.1%), from €5,805 to €10,977
- Other operating charges -€28,547
down €28,547 (-88.3%), from €32,330 to €3,782
- Gross operating margin -€23,380
down €23,380 (-31.7%), from €73,796 to €50,416
- Taxes +€5,403
up €5,403 (+85.1%), from €6,352 to €11,755
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 | €240,248 | €247,987 | +€7,739 | +3.2% |
| Fixed assets | 21/28 | €185,795 | €188,291 | +€2,496 | +1.3% |
| Tangible fixed assets | 22/27 | €1,975 | €4,471 | +€2,496 | +126.3% |
| Land and buildings | 22 | €802 | €492 | -€310 | -38.6% |
| Furniture and vehicles | 24 | €1,174 | €3,251 | +€2,078 | +177.1% |
| Other tangible fixed assets | 26 | - | €728 | +€728 | |
| Financial fixed assets | 28 | €183,819 | €183,819 | = | 0.0% |
| Current assets | 29/58 | €54,453 | €59,696 | +€5,243 | +9.6% |
| Amounts receivable within one year | 40/41 | €26,261 | €32,621 | +€6,360 | +24.2% |
| Trade receivables | 40 | €21,685 | €29,494 | +€7,809 | +36.0% |
| Other amounts receivable | 41 | €4,576 | €3,127 | -€1,449 | -31.7% |
| Cash at bank and in hand | 54/58 | €25,563 | €23,379 | -€2,184 | -8.5% |
| Deferred charges and accrued income | 490/1 | €2,629 | €3,696 | +€1,067 | +40.6% |
| Total equity and liabilities | 10/49 | €240,248 | €247,987 | +€7,739 | +3.2% |
| Equity | 10/15 | €167,062 | €191,196 | +€24,134 | +14.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,062 | €188,196 | +€24,134 | +14.7% |
| Amounts payable | 17/49 | €73,186 | €56,791 | -€16,395 | -22.4% |
| Amounts payable within one year | 42/48 | €73,186 | €54,513 | -€18,672 | -25.5% |
| Financial debts | 43 | €4,051 | €5,064 | +€1,013 | +25.0% |
| Credit institutions | 430/8 | €4,051 | €5,064 | +€1,013 | +25.0% |
| Trade debts | 44 | €5,805 | €10,977 | +€5,172 | +89.1% |
| Suppliers | 440/4 | €5,805 | €10,977 | +€5,172 | +89.1% |
| Taxes, remuneration and social security | 45 | €9,236 | €9,253 | +€17 | +0.2% |
| Taxes | 450/3 | €9,236 | €9,253 | +€17 | +0.2% |
| Other amounts payable | 47/48 | €54,094 | €29,220 | -€24,874 | -46.0% |
| Accrued charges and deferred income | 492/3 | - | €2,277 | +€2,277 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,378 | €1,478 | +€100 | +7.3% |
| Other operating charges | 640/8 | €32,330 | €3,782 | -€28,547 | -88.3% |
| Gross operating margin | 9900 | €73,796 | €50,416 | -€23,380 | -31.7% |
| Operating profit (loss) | 9901 | €40,089 | €45,156 | +€5,067 | +12.6% |
| Financial income | 75/76B | €60 | - | -€60 | |
| Recurring financial income | 75 | €60 | - | -€60 | |
| Financial charges | 65/66B | €8,401 | €8,434 | +€33 | +0.4% |
| Recurring financial charges | 65 | €8,401 | €8,434 | +€33 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €31,748 | €36,722 | +€4,973 | +15.7% |
| Income taxes | 67/77 | €6,352 | €11,755 | +€5,403 | +85.1% |
| Profit (loss) for the period | 9904 | €25,396 | €24,967 | -€429 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,396 | €24,967 | -€429 | -1.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.