DENIS POTIER: 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.
DENIS POTIER
Largest movements
- Receivables within one year -€37,217
down €37,217 (-19.3%), from €192,797 to €155,580
of which Other amounts receivable: -€31,857
- Stocks and contracts +€29,709
up €29,709 (+23.6%), from €125,797 to €155,505
- Cash -€17,430
down €17,430 (-52.9%), from €32,920 to €15,490
mainly Contributions, distributions and other (-€168,467) and Stocks and contracts (-€29,709)
- Tangible fixed assets +€5,307
up €5,307 (+6.9%), from €76,985 to €82,292
of which Other tangible fixed assets: +€5,871
- Profit (loss) carried forward -€101,700
down €101,700 (-67.8%), from €150,000 to €48,300
- Other debts +€68,467
new in 2025: €68,467
- Reserves +€19,954
up €19,954 (+10.7%), from €186,816 to €206,771
of which Distributable reserves: +€19,954
- Trade debts -€7,951
down €7,951 (-17.0%), from €46,803 to €38,851
- Short-term financial debts -€7,559
down €7,559 (-42.8%), from €17,658 to €10,099
- Gross operating margin -€26,005
down €26,005 (-11.3%), from €230,213 to €204,208
- Staff costs +€20,273
up €20,273 (+42.2%), from €48,043 to €68,316
- Taxes -€11,204
down €11,204 (-23.5%), from €47,608 to €36,404
- Depreciation +€6,354
up €6,354 (+86.7%), from €7,326 to €13,680
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 | €482,068 | €461,874 | -€20,194 | -4.2% |
| Fixed assets | 21/28 | €80,554 | €84,591 | +€4,037 | +5.0% |
| Intangible fixed assets | 21 | €3,569 | €2,299 | -€1,270 | -35.6% |
| Tangible fixed assets | 22/27 | €76,985 | €82,292 | +€5,307 | +6.9% |
| Furniture and vehicles | 24 | €9,585 | €9,021 | -€564 | -5.9% |
| Other tangible fixed assets | 26 | €67,399 | €73,271 | +€5,871 | +8.7% |
| Current assets | 29/58 | €401,514 | €377,284 | -€24,231 | -6.0% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €125,797 | €155,505 | +€29,709 | +23.6% |
| Stocks | 30/36 | €125,797 | €155,505 | +€29,709 | +23.6% |
| Amounts receivable within one year | 40/41 | €192,797 | €155,580 | -€37,217 | -19.3% |
| Trade receivables | 40 | €103,249 | €97,889 | -€5,360 | -5.2% |
| Other amounts receivable | 41 | €89,548 | €57,691 | -€31,857 | -35.6% |
| Cash at bank and in hand | 54/58 | €32,920 | €15,490 | -€17,430 | -52.9% |
| Deferred charges and accrued income | 490/1 | - | €708 | +€708 | |
| Total equity and liabilities | 10/49 | €482,068 | €461,874 | -€20,194 | -4.2% |
| Equity | 10/15 | €343,016 | €261,271 | -€81,746 | -23.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,816 | €206,771 | +€19,954 | +10.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €186,816 | €206,771 | +€19,954 | +10.7% |
| Profit (loss) carried forward | 14 | €150,000 | €48,300 | -€101,700 | -67.8% |
| Amounts payable | 17/49 | €139,052 | €200,604 | +€61,552 | +44.3% |
| Amounts payable within one year | 42/48 | €136,020 | €197,268 | +€61,248 | +45.0% |
| Financial debts | 43 | €17,658 | €10,099 | -€7,559 | -42.8% |
| Credit institutions | 430/8 | €17,658 | €10,099 | -€7,559 | -42.8% |
| Trade debts | 44 | €46,803 | €38,851 | -€7,951 | -17.0% |
| Suppliers | 440/4 | €46,803 | €38,851 | -€7,951 | -17.0% |
| Advances received on contracts in progress | 46 | - | €3,213 | +€3,213 | |
| Taxes, remuneration and social security | 45 | €71,559 | €76,638 | +€5,078 | +7.1% |
| Taxes | 450/3 | €57,907 | €65,784 | +€7,877 | +13.6% |
| Remuneration and social security | 454/9 | €13,652 | €10,854 | -€2,799 | -20.5% |
| Other amounts payable | 47/48 | - | €68,467 | +€68,467 | |
| Accrued charges and deferred income | 492/3 | €3,032 | €3,336 | +€304 | +10.0% |
| Remuneration, social security and pensions | 62 | €48,043 | €68,316 | +€20,273 | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,326 | €13,680 | +€6,354 | +86.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €155 | -€155 | -€309 | |
| Other operating charges | 640/8 | €1,357 | €1,149 | -€209 | -15.4% |
| Gross operating margin | 9900 | €230,213 | €204,208 | -€26,005 | -11.3% |
| Operating profit (loss) | 9901 | €173,332 | €121,217 | -€52,114 | -30.1% |
| Financial income | 75/76B | €6,854 | €7,443 | +€589 | +8.6% |
| Recurring financial income | 75 | €6,854 | €7,443 | +€589 | +8.6% |
| Financial charges | 65/66B | €5,236 | €5,535 | +€298 | +5.7% |
| Recurring financial charges | 65 | €5,236 | €5,535 | +€298 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €174,949 | €123,126 | -€51,823 | -29.6% |
| Income taxes | 67/77 | €47,608 | €36,404 | -€11,204 | -23.5% |
| Profit (loss) for the period | 9904 | €127,341 | €86,721 | -€40,619 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €127,341 | €86,721 | -€40,619 | -31.9% |
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 19 October 2026 via checked.be.