COVERED: 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.
COVERED
Largest movements
- Receivables within one year +€112,558
up €112,558 (+190.0%), from €59,234 to €171,793
of which Other amounts receivable: +€81,350
- Cash +€20,607
up €20,607 (+23.5%), from €87,723 to €108,330
mainly Net result for the year (+€119,509) and Tax, wage and social debts (+€14,748)
- Stocks and contracts -€4,908
no longer reported in 2025 (was €4,908)
- Tangible fixed assets +€3,547
up €3,547 (+67.0%), from €5,298 to €8,845
- Reserves +€119,509
up €119,509 (+90.6%), from €131,939 to €251,448
- Tax, wage and social debts +€14,748
up €14,748 (+71.1%), from €20,733 to €35,481
of which Remuneration and social security: +€11,249
- Trade debts -€3,566
down €3,566 (-73.0%), from €4,883 to €1,317
- Gross operating margin +€96,304
up €96,304 (+69.1%), from €139,360 to €235,664
- Staff costs +€40,191
up €40,191 (+111.8%), from €35,944 to €76,136
- Taxes +€14,521
up €14,521 (+65.7%), from €22,088 to €36,609
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 | €161,321 | €292,819 | +€131,498 | +81.5% |
| Fixed assets | 21/28 | €8,516 | €11,833 | +€3,317 | +39.0% |
| Intangible fixed assets | 21 | €743 | €513 | -€230 | -30.9% |
| Tangible fixed assets | 22/27 | €5,298 | €8,845 | +€3,547 | +67.0% |
| Furniture and vehicles | 24 | €5,298 | €8,845 | +€3,547 | +67.0% |
| Financial fixed assets | 28 | €2,475 | €2,475 | = | 0.0% |
| Current assets | 29/58 | €152,805 | €280,986 | +€128,181 | +83.9% |
| Stocks and contracts in progress | 3 | €4,908 | - | -€4,908 | |
| Stocks | 30/36 | €4,908 | - | -€4,908 | |
| Amounts receivable within one year | 40/41 | €59,234 | €171,793 | +€112,558 | +190.0% |
| Trade receivables | 40 | €59,234 | €90,443 | +€31,208 | +52.7% |
| Other amounts receivable | 41 | - | €81,350 | +€81,350 | |
| Cash at bank and in hand | 54/58 | €87,723 | €108,330 | +€20,607 | +23.5% |
| Deferred charges and accrued income | 490/1 | €940 | €864 | -€77 | -8.1% |
| Total equity and liabilities | 10/49 | €161,321 | €292,819 | +€131,498 | +81.5% |
| Equity | 10/15 | €134,439 | €253,948 | +€119,509 | +88.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €131,939 | €251,448 | +€119,509 | +90.6% |
| Distributable reserves | 133 | €131,939 | €251,448 | +€119,509 | +90.6% |
| Amounts payable | 17/49 | €26,882 | €38,871 | +€11,989 | +44.6% |
| Amounts payable within one year | 42/48 | €26,882 | €38,871 | +€11,989 | +44.6% |
| Trade debts | 44 | €4,883 | €1,317 | -€3,566 | -73.0% |
| Suppliers | 440/4 | €4,883 | €1,317 | -€3,566 | -73.0% |
| Taxes, remuneration and social security | 45 | €20,733 | €35,481 | +€14,748 | +71.1% |
| Taxes | 450/3 | €16,799 | €20,297 | +€3,499 | +20.8% |
| Remuneration and social security | 454/9 | €3,934 | €15,183 | +€11,249 | +285.9% |
| Other amounts payable | 47/48 | €1,266 | €2,073 | +€807 | +63.7% |
| Remuneration, social security and pensions | 62 | €35,944 | €76,136 | +€40,191 | +111.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,145 | €2,695 | +€1,550 | +135.4% |
| Other operating charges | 640/8 | €1,806 | €453 | -€1,353 | -74.9% |
| Non-recurring operating charges | 66A | €972 | - | -€972 | |
| Gross operating margin | 9900 | €139,360 | €235,664 | +€96,304 | +69.1% |
| Operating profit (loss) | 9901 | €99,493 | €156,381 | +€56,888 | +57.2% |
| Financial income | 75/76B | €27 | €61 | +€34 | +129.7% |
| Recurring financial income | 75 | €27 | €61 | +€34 | +129.7% |
| Financial charges | 65/66B | €288 | €324 | +€36 | +12.5% |
| Recurring financial charges | 65 | €288 | €324 | +€36 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €99,232 | €156,118 | +€56,886 | +57.3% |
| Income taxes | 67/77 | €22,088 | €36,609 | +€14,521 | +65.7% |
| Profit (loss) for the period | 9904 | €77,144 | €119,509 | +€42,365 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,144 | €119,509 | +€42,365 | +54.9% |
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 4 October 2026 via checked.be.