COUNTDOWN: 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.
COUNTDOWN
Largest movements
- Current investments +€694,422
up €694,422 (+92.3%), from €752,391 to €1.4m
- Cash -€192,939
down €192,939 (-74.5%), from €258,831 to €65,891
mainly Current investments (-€694,422) and Net result for the year (-€330,479)
- Financial fixed assets -€139,000
down €139,000 (-11.1%), from €1.2m to €1.1m
- Tangible fixed assets -€66,955
down €66,955 (-4.1%), from €1.7m to €1.6m
of which Land and buildings: -€65,962
- Other debts +€673,140
up €673,140 (+673.1%), from €100,000 to €773,140
- Reserves -€330,479
down €330,479 (-8.3%), from €4.0m to €3.6m
of which Distributable reserves: -€330,479
- Current portion of long-term debt -€60,919
down €60,919 (-66.5%), from €91,587 to €30,668
- Short-term financial debts +€54,996
up €54,996 (+9.2%), from €595,004 to €650,000
- Financial income +€283,163
up €283,163 (+84.4%), from €335,696 to €618,860
- Taxes +€201,577
up €201,577, from -€201,577 to €0
- Financial charges +€103,098
up €103,098 (+14.2%), from €728,556 to €831,655
of which Financial charges: +€53,098
- Gross operating margin -€21,850
down €21,850 (-69.2%), from €31,595 to €9,745
- Other operating charges -€6,304
down €6,304 (-35.7%), from €17,672 to €11,368
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 | €4,837,300 | €5,127,513 | +€290,213 | +6.0% |
| Fixed assets | 21/28 | €2,901,566 | €2,695,611 | -€205,955 | -7.1% |
| Tangible fixed assets | 22/27 | €1,652,564 | €1,585,609 | -€66,955 | -4.1% |
| Land and buildings | 22 | €1,649,584 | €1,583,622 | -€65,962 | -4.0% |
| Plant, machinery and equipment | 23 | €2,981 | €1,987 | -€993 | -33.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,249,002 | €1,110,002 | -€139,000 | -11.1% |
| Current assets | 29/58 | €1,935,734 | €2,431,902 | +€496,168 | +25.6% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €382,640 | €365,394 | -€17,245 | -4.5% |
| Trade receivables | 40 | €20,470 | €93,892 | +€73,422 | +358.7% |
| Other amounts receivable | 41 | €362,170 | €271,502 | -€90,667 | -25.0% |
| Current investments | 50/53 | €752,391 | €1,446,813 | +€694,422 | +92.3% |
| Cash at bank and in hand | 54/58 | €258,831 | €65,891 | -€192,939 | -74.5% |
| Deferred charges and accrued income | 490/1 | €41,873 | €53,804 | +€11,931 | +28.5% |
| Total equity and liabilities | 10/49 | €4,837,300 | €5,127,513 | +€290,213 | +6.0% |
| Equity | 10/15 | €3,979,584 | €3,649,105 | -€330,479 | -8.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €3,961,034 | €3,630,555 | -€330,479 | -8.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,961,034 | €3,630,555 | -€330,479 | -8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €857,715 | €1,478,407 | +€620,692 | +72.4% |
| Amounts payable after more than one year | 17 | €30,668 | €0 | -€30,668 | -100.0% |
| Financial debts | 170/4 | €30,668 | €0 | -€30,668 | -100.0% |
| Amounts payable within one year | 42/48 | €823,027 | €1,477,782 | +€654,755 | +79.6% |
| Current portion of amounts payable after more than one year | 42 | €91,587 | €30,668 | -€60,919 | -66.5% |
| Financial debts | 43 | €595,004 | €650,000 | +€54,996 | +9.2% |
| Credit institutions | 430/8 | €595,004 | €650,000 | +€54,996 | +9.2% |
| Trade debts | 44 | €32,536 | €21,539 | -€10,996 | -33.8% |
| Suppliers | 440/4 | €32,536 | €21,539 | -€10,996 | -33.8% |
| Taxes, remuneration and social security | 45 | €3,901 | €2,436 | -€1,465 | -37.6% |
| Taxes | 450/3 | €3,901 | €2,436 | -€1,465 | -37.6% |
| Other amounts payable | 47/48 | €100,000 | €773,140 | +€673,140 | +673.1% |
| Accrued charges and deferred income | 492/3 | €4,021 | €625 | -€3,396 | -84.5% |
| Non-recurring operating income | 76A | €94,994 | €0 | -€94,994 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,851 | €66,955 | -€2,896 | -4.1% |
| Other operating charges | 640/8 | €17,672 | €11,368 | -€6,304 | -35.7% |
| Non-recurring operating charges | 66A | €0 | €49,106 | +€49,106 | |
| Gross operating margin | 9900 | €31,595 | €9,745 | -€21,850 | -69.2% |
| Operating profit (loss) | 9901 | -€55,928 | -€117,684 | -€61,757 | -110.4% |
| Financial income | 75/76B | €335,696 | €618,860 | +€283,163 | +84.4% |
| Recurring financial income | 75 | €335,696 | €618,860 | +€283,163 | +84.4% |
| Financial charges | 65/66B | €728,556 | €831,655 | +€103,098 | +14.2% |
| Recurring financial charges | 65 | €728,556 | €781,655 | +€53,098 | +7.3% |
| Non-recurring financial charges | 66B | - | €50,000 | +€50,000 | |
| Profit (loss) for the period before taxes | 9903 | -€448,787 | -€330,479 | +€118,308 | +26.4% |
| Income taxes | 67/77 | -€201,577 | €0 | +€201,577 | |
| Profit (loss) for the period | 9904 | -€247,211 | -€330,479 | -€83,268 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€247,211 | -€330,479 | -€83,268 | -33.7% |
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 6 October 2026 via checked.be.