DEAL: 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.
DEAL
Largest movements
- Tangible fixed assets -€11,520
down €11,520 (-3.4%), from €337,790 to €326,270
of which Land and buildings: -€11,520
- Cash +€10,054
up €10,054, from €0 to €10,054
mainly Net result for the year (+€26,640) and Depreciation (+€11,520)
- Receivables within one year -€8,404
down €8,404 (-31.8%), from €26,449 to €18,044
of which Trade receivables: -€8,404
- Debts after one year -€46,361
down €46,361 (-11.0%), from €422,699 to €376,338
of which Other amounts payable: -€24,306
- Profit (loss) carried forward +€26,640
up €26,640 (+128%), from €20,818 to €47,457
- Tax, wage and social debts +€9,353
up €9,353 (+206%), from €4,532 to €13,885
- Other debts +€5,661
up €5,661 (+89.6%), from €6,319 to €11,980
- Depreciation -€5,341
down €5,341 (-31.7%), from €16,861 to €11,520
- Gross operating margin +€3,595
up €3,595 (+7.0%), from €51,560 to €55,154
- Taxes +€2,469
up €2,469 (+28.3%), from €8,731 to €11,200
- Financial charges -€557
down €557 (-8.7%), from €6,430 to €5,873
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 | €524,586 | €517,318 | -€7,268 | -1.4% |
| Fixed assets | 21/28 | €437,690 | €426,170 | -€11,520 | -2.6% |
| Tangible fixed assets | 22/27 | €337,790 | €326,270 | -€11,520 | -3.4% |
| Land and buildings | 22 | €337,790 | €326,270 | -€11,520 | -3.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €99,900 | €99,900 | = | 0.0% |
| Current assets | 29/58 | €86,896 | €91,148 | +€4,252 | +4.9% |
| Amounts receivable after more than one year | 29 | €59,527 | €61,908 | +€2,381 | +4.0% |
| Other amounts receivable | 291 | €59,527 | €61,908 | +€2,381 | +4.0% |
| Amounts receivable within one year | 40/41 | €26,449 | €18,044 | -€8,404 | -31.8% |
| Trade receivables | 40 | €26,449 | €18,044 | -€8,404 | -31.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €0 | €10,054 | +€10,054 | |
| Deferred charges and accrued income | 490/1 | €921 | €1,141 | +€221 | +24.0% |
| Total equity and liabilities | 10/49 | €524,586 | €517,318 | -€7,268 | -1.4% |
| Equity | 10/15 | €62,218 | €88,857 | +€26,640 | +42.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €29,000 | €29,000 | = | 0.0% |
| Distributable reserves | 133 | €29,000 | €29,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,818 | €47,457 | +€26,640 | +128% |
| Amounts payable | 17/49 | €462,368 | €428,460 | -€33,908 | -7.3% |
| Amounts payable after more than one year | 17 | €422,699 | €376,338 | -€46,361 | -11.0% |
| Financial debts | 170/4 | €269,846 | €247,791 | -€22,055 | -8.2% |
| Other amounts payable | 178/9 | €152,852 | €128,546 | -€24,306 | -15.9% |
| Amounts payable within one year | 42/48 | €36,178 | €48,590 | +€12,412 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €21,724 | €22,055 | +€331 | +1.5% |
| Financial debts | 43 | €3,256 | €0 | -€3,256 | -100% |
| Credit institutions | 430/8 | €3,256 | €0 | -€3,256 | -100% |
| Trade debts | 44 | €346 | €670 | +€323 | +93.4% |
| Suppliers | 440/4 | €346 | €670 | +€323 | +93.4% |
| Taxes, remuneration and social security | 45 | €4,532 | €13,885 | +€9,353 | +206% |
| Taxes | 450/3 | €4,532 | €13,885 | +€9,353 | +206% |
| Other amounts payable | 47/48 | €6,319 | €11,980 | +€5,661 | +89.6% |
| Accrued charges and deferred income | 492/3 | €3,492 | €3,533 | +€41 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,861 | €11,520 | -€5,341 | -31.7% |
| Other operating charges | 640/8 | €1,994 | €2,303 | +€309 | +15.5% |
| Gross operating margin | 9900 | €51,560 | €55,154 | +€3,595 | +7.0% |
| Operating profit (loss) | 9901 | €32,705 | €41,331 | +€8,627 | +26.4% |
| Financial income | 75/76B | €2,723 | €2,381 | -€342 | -12.6% |
| Recurring financial income | 75 | €2,723 | €2,381 | -€342 | -12.6% |
| Financial charges | 65/66B | €6,430 | €5,873 | -€557 | -8.7% |
| Recurring financial charges | 65 | €6,430 | €5,873 | -€557 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €28,998 | €37,840 | +€8,842 | +30.5% |
| Income taxes | 67/77 | €8,731 | €11,200 | +€2,469 | +28.3% |
| Profit (loss) for the period | 9904 | €20,267 | €26,640 | +€6,373 | +31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,267 | €26,640 | +€6,373 | +31.4% |
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.