CROSSROADS: 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.
CROSSROADS
Largest movements
- Receivables within one year -€225,878
down €225,878 (-24.7%), from €913,212 to €687,334
of which Trade receivables: -€238,123
- Cash -€217,145
down €217,145 (-79.6%), from €272,627 to €55,483
mainly Short-term financial debts (-€193,573) and Investment in fixed assets (net) (-€135,196)
- Tangible fixed assets +€79,878
up €79,878 (+6.2%), from €1.3m to €1.4m
of which Other tangible fixed assets: +€104,248
- Short-term financial debts -€193,573
down €193,573 (-100.0%), from €193,573 to €0
- Other debts -€55,650
down €55,650 (-17.5%), from €317,512 to €261,862
- Profit (loss) carried forward -€37,350
down €37,350 (-100.0%), from €37,350 to €0
- Debts after one year -€33,713
down €33,713 (-6.6%), from €511,125 to €477,412
- Depreciation +€32,606
up €32,606 (+136.3%), from €23,917 to €56,522
- Gross operating margin +€20,012
up €20,012 (+173.6%), from €11,528 to €31,540
- Other operating charges -€7,878
down €7,878 (-66.5%), from €11,845 to €3,967
- Financial charges -€4,410
down €4,410 (-12.1%), from €36,307 to €31,897
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 | €2,503,221 | €2,140,347 | -€362,874 | -14.5% |
| Fixed assets | 21/28 | €1,290,293 | €1,368,967 | +€78,674 | +6.1% |
| Intangible fixed assets | 21 | €1,204 | €0 | -€1,204 | -100.0% |
| Tangible fixed assets | 22/27 | €1,288,397 | €1,368,274 | +€79,878 | +6.2% |
| Land and buildings | 22 | €1,216,282 | €1,190,367 | -€25,915 | -2.1% |
| Plant, machinery and equipment | 23 | €16,488 | €13,451 | -€3,037 | -18.4% |
| Furniture and vehicles | 24 | €26,460 | €31,042 | +€4,582 | +17.3% |
| Other tangible fixed assets | 26 | €29,166 | €133,415 | +€104,248 | +357.4% |
| Financial fixed assets | 28 | €693 | €693 | = | 0.0% |
| Current assets | 29/58 | €1,212,928 | €771,380 | -€441,547 | -36.4% |
| Stocks and contracts in progress | 3 | €24,513 | €24,513 | = | 0.0% |
| Stocks | 30/36 | €24,513 | €24,513 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €913,212 | €687,334 | -€225,878 | -24.7% |
| Trade receivables | 40 | €247,957 | €9,834 | -€238,123 | -96.0% |
| Other amounts receivable | 41 | €665,255 | €677,501 | +€12,245 | +1.8% |
| Cash at bank and in hand | 54/58 | €272,627 | €55,483 | -€217,145 | -79.6% |
| Deferred charges and accrued income | 490/1 | €2,575 | €4,051 | +€1,475 | +57.3% |
| Total equity and liabilities | 10/49 | €2,503,221 | €2,140,347 | -€362,874 | -14.5% |
| Equity | 10/15 | €1,069,795 | €1,008,948 | -€60,846 | -5.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €970,445 | €946,948 | -€23,496 | -2.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €933,099 | €933,099 | = | 0.0% |
| Distributable reserves | 133 | €31,146 | €7,649 | -€23,496 | -75.4% |
| Profit (loss) carried forward | 14 | €37,350 | €0 | -€37,350 | -100.0% |
| Provisions and deferred taxes | 16 | €311,033 | €311,033 | = | 0.0% |
| Deferred taxes | 168 | €311,033 | €311,033 | = | 0.0% |
| Amounts payable | 17/49 | €1,122,393 | €820,366 | -€302,027 | -26.9% |
| Amounts payable after more than one year | 17 | €511,125 | €477,412 | -€33,713 | -6.6% |
| Financial debts | 170/4 | €511,125 | €477,412 | -€33,713 | -6.6% |
| Amounts payable within one year | 42/48 | €610,525 | €340,637 | -€269,888 | -44.2% |
| Current portion of amounts payable after more than one year | 42 | €36,031 | €36,416 | +€384 | +1.1% |
| Financial debts | 43 | €193,573 | €0 | -€193,573 | -100.0% |
| Credit institutions | 430/8 | €193,573 | €0 | -€193,573 | -100.0% |
| Trade debts | 44 | €41,598 | €42,360 | +€762 | +1.8% |
| Suppliers | 440/4 | €41,598 | €42,360 | +€762 | +1.8% |
| Taxes, remuneration and social security | 45 | €21,812 | €0 | -€21,812 | -100.0% |
| Taxes | 450/3 | €21,812 | €0 | -€21,812 | -100.0% |
| Other amounts payable | 47/48 | €317,512 | €261,862 | -€55,650 | -17.5% |
| Accrued charges and deferred income | 492/3 | €743 | €2,316 | +€1,574 | +211.9% |
| Non-recurring operating income | 76A | €85,459 | €0 | -€85,459 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,917 | €56,522 | +€32,606 | +136.3% |
| Other operating charges | 640/8 | €11,845 | €3,967 | -€7,878 | -66.5% |
| Gross operating margin | 9900 | €11,528 | €31,540 | +€20,012 | +173.6% |
| Operating profit (loss) | 9901 | -€24,233 | -€28,949 | -€4,716 | -19.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.3% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.3% |
| Financial charges | 65/66B | €36,307 | €31,897 | -€4,410 | -12.1% |
| Recurring financial charges | 65 | €36,307 | €31,897 | -€4,410 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€60,540 | -€60,846 | -€307 | -0.5% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€60,540 | -€60,846 | -€307 | -0.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€60,540 | -€60,846 | -€307 | -0.5% |
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 11 October 2026 via checked.be.