DEFIGEST CONSEIL: 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.
DEFIGEST CONSEIL
Largest movements
- Cash -€955,422
down €955,422 (-89.4%), from €1.1m to €113,819
mainly Current investments (-€880,370) and Contributions, distributions and other (-€331,767)
- Current investments +€880,370
up €880,370 (+222.9%), from €395,000 to €1.3m
- Tangible fixed assets -€68,995
down €68,995 (-9.7%), from €711,849 to €642,854
of which Land and buildings: -€43,287
- Reserves -€124,784
down €124,784 (-8.2%), from €1.5m to €1.4m
of which Distributable reserves: -€118,079
- Financial income -€65,094
down €65,094 (-18.8%), from €345,345 to €280,251
- Gross operating margin -€46,472
down €46,472 (-46.8%), from €99,270 to €52,797
- Taxes -€19,028
down €19,028 (-46.5%), from €40,913 to €21,885
- Depreciation -€9,201
down €9,201 (-10.8%), from €85,196 to €75,995
- Other operating charges -€8,515
down €8,515 (-45.5%), from €18,703 to €10,188
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 | €2,461,612 | €2,326,787 | -€134,825 | -5.5% |
| Fixed assets | 21/28 | €962,655 | €874,378 | -€88,276 | -9.2% |
| Tangible fixed assets | 22/27 | €711,849 | €642,854 | -€68,995 | -9.7% |
| Land and buildings | 22 | €649,784 | €606,497 | -€43,287 | -6.7% |
| Plant, machinery and equipment | 23 | €2,560 | €1,946 | -€614 | -24.0% |
| Furniture and vehicles | 24 | €59,504 | €34,411 | -€25,094 | -42.2% |
| Financial fixed assets | 28 | €250,806 | €231,525 | -€19,281 | -7.7% |
| Current assets | 29/58 | €1,498,957 | €1,452,409 | -€46,549 | -3.1% |
| Amounts receivable within one year | 40/41 | €6,642 | €18,332 | +€11,690 | +176.0% |
| Trade receivables | 40 | €1,265 | €17,858 | +€16,593 | +1311.4% |
| Other amounts receivable | 41 | €5,377 | €474 | -€4,903 | -91.2% |
| Current investments | 50/53 | €395,000 | €1,275,370 | +€880,370 | +222.9% |
| Cash at bank and in hand | 54/58 | €1,069,240 | €113,819 | -€955,422 | -89.4% |
| Deferred charges and accrued income | 490/1 | €28,075 | €44,888 | +€16,813 | +59.9% |
| Total equity and liabilities | 10/49 | €2,461,612 | €2,326,787 | -€134,825 | -5.5% |
| Equity | 10/15 | €1,873,689 | €1,748,905 | -€124,784 | -6.7% |
| Contributions | 10/11 | €204,847 | €204,847 | = | 0.0% |
| Reserves | 13 | €1,515,355 | €1,390,571 | -€124,784 | -8.2% |
| Tax-exempt reserves | 132 | €61,097 | €54,393 | -€6,704 | -11.0% |
| Distributable reserves | 133 | €1,454,257 | €1,336,178 | -€118,079 | -8.1% |
| Profit (loss) carried forward | 14 | €153,487 | €153,487 | = | 0.0% |
| Provisions and deferred taxes | 16 | €31,460 | €28,008 | -€3,452 | -11.0% |
| Deferred taxes | 168 | €31,460 | €28,008 | -€3,452 | -11.0% |
| Amounts payable | 17/49 | €556,463 | €549,874 | -€6,589 | -1.2% |
| Amounts payable within one year | 42/48 | €544,704 | €525,829 | -€18,875 | -3.5% |
| Trade debts | 44 | - | €2,978 | +€2,978 | |
| Suppliers | 440/4 | - | €2,978 | +€2,978 | |
| Advances received on contracts in progress | 46 | €9,000 | €9,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €35,312 | €17,910 | -€17,402 | -49.3% |
| Taxes | 450/3 | €35,312 | €17,910 | -€17,402 | -49.3% |
| Other amounts payable | 47/48 | €500,392 | €495,941 | -€4,451 | -0.9% |
| Accrued charges and deferred income | 492/3 | €11,760 | €24,045 | +€12,286 | +104.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,196 | €75,995 | -€9,201 | -10.8% |
| Other operating charges | 640/8 | €18,703 | €10,188 | -€8,515 | -45.5% |
| Gross operating margin | 9900 | €99,270 | €52,797 | -€46,472 | -46.8% |
| Operating profit (loss) | 9901 | -€4,629 | -€33,386 | -€28,756 | -621.2% |
| Financial income | 75/76B | €345,345 | €280,251 | -€65,094 | -18.8% |
| Recurring financial income | 75 | €345,345 | €280,251 | -€65,094 | -18.8% |
| Financial charges | 65/66B | €17,604 | €21,450 | +€3,846 | +21.8% |
| Recurring financial charges | 65 | €17,604 | €21,450 | +€3,846 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | €323,112 | €225,416 | -€97,696 | -30.2% |
| Transfer from deferred taxes | 780 | €3,452 | €3,452 | = | 0.0% |
| Income taxes | 67/77 | €40,913 | €21,885 | -€19,028 | -46.5% |
| Profit (loss) for the period | 9904 | €285,650 | €206,983 | -€78,668 | -27.5% |
| Transfer from tax-exempt reserves | 789 | €6,704 | €6,704 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €292,355 | €213,687 | -€78,668 | -26.9% |
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 7 October 2026 via checked.be.