DIRECT SOLUTIONS: 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.
DIRECT SOLUTIONS
Largest movements
- Current investments -€700,000
down €700,000 (-31.8%), from €2.2m to €1.5m
- Cash +€443,493
up €443,493 (+354.2%), from €125,211 to €568,704
mainly Current investments (+€700,000) and Receivables after one year (+€175,000)
- Receivables after one year -€175,000
down €175,000 (-8.6%), from €2.0m to €1.9m
- Tax, wage and social debts -€221,842
down €221,842 (-89.6%), from €247,459 to €25,616
- Debts after one year -€175,000
down €175,000 (-36.4%), from €481,250 to €306,250
- Trade debts -€153,020
down €153,020 (-76.6%), from €199,694 to €46,674
- Profit (loss) carried forward +€110,471
up €110,471 (+26.5%), from €416,463 to €526,934
- Gross operating margin -€2.4m
down €2.4m (-97.9%), from €2.4m to €52,157
- Taxes -€207,962
down €207,962 (-87.0%), from €238,945 to €30,983
- Financial income +€96,562
up €96,562 (+254.9%), from €37,876 to €134,438
of which Financial income: +€96,542
- Provisions +€90,000
no longer reported in 2025 (was -€90,000)
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 | €4,815,643 | €4,338,415 | -€477,228 | -9.9% |
| Fixed assets | 21/28 | €32,038 | €778 | -€31,259 | -97.6% |
| Tangible fixed assets | 22/27 | €1,038 | €778 | -€259 | -25.0% |
| Furniture and vehicles | 24 | €1,038 | €778 | -€259 | -25.0% |
| Financial fixed assets | 28 | €31,000 | - | -€31,000 | |
| Current assets | 29/58 | €4,783,605 | €4,337,637 | -€445,968 | -9.3% |
| Amounts receivable after more than one year | 29 | €2,031,250 | €1,856,250 | -€175,000 | -8.6% |
| Other amounts receivable | 291 | €2,031,250 | €1,856,250 | -€175,000 | -8.6% |
| Amounts receivable within one year | 40/41 | €344,500 | €313,861 | -€30,638 | -8.9% |
| Trade receivables | 40 | €79,219 | €19,965 | -€59,254 | -74.8% |
| Other amounts receivable | 41 | €265,281 | €293,896 | +€28,615 | +10.8% |
| Current investments | 50/53 | €2,200,000 | €1,500,000 | -€700,000 | -31.8% |
| Cash at bank and in hand | 54/58 | €125,211 | €568,704 | +€443,493 | +354.2% |
| Deferred charges and accrued income | 490/1 | €82,644 | €98,822 | +€16,178 | +19.6% |
| Total equity and liabilities | 10/49 | €4,815,643 | €4,338,415 | -€477,228 | -9.9% |
| Equity | 10/15 | €2,726,017 | €2,836,489 | +€110,471 | +4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,290,954 | €2,290,954 | = | 0.0% |
| Distributable reserves | 133 | €2,290,954 | €2,290,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | €416,463 | €526,934 | +€110,471 | +26.5% |
| Amounts payable | 17/49 | €2,089,625 | €1,501,926 | -€587,699 | -28.1% |
| Amounts payable after more than one year | 17 | €481,250 | €306,250 | -€175,000 | -36.4% |
| Financial debts | 170/4 | €481,250 | €306,250 | -€175,000 | -36.4% |
| Amounts payable within one year | 42/48 | €1,608,375 | €1,195,676 | -€412,699 | -25.7% |
| Financial debts | 43 | €762,717 | €762,717 | = | 0.0% |
| Other loans | 439 | €762,717 | €762,717 | = | 0.0% |
| Trade debts | 44 | €199,694 | €46,674 | -€153,020 | -76.6% |
| Suppliers | 440/4 | €199,694 | €46,674 | -€153,020 | -76.6% |
| Taxes, remuneration and social security | 45 | €247,459 | €25,616 | -€221,842 | -89.6% |
| Taxes | 450/3 | €247,459 | €25,616 | -€221,842 | -89.6% |
| Other amounts payable | 47/48 | €398,505 | €360,668 | -€37,836 | -9.5% |
| Non-recurring operating income | 76A | €2,490,000 | - | -€2.5m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,793 | €259 | -€2,533 | -90.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€90,000 | - | +€90,000 | |
| Other operating charges | 640/8 | €2,132 | €3,486 | +€1,354 | +63.5% |
| Gross operating margin | 9900 | €2,447,862 | €52,157 | -€2.4m | -97.9% |
| Operating profit (loss) | 9901 | €2,532,937 | €48,411 | -€2.5m | -98.1% |
| Financial income | 75/76B | €37,876 | €134,438 | +€96,562 | +254.9% |
| Recurring financial income | 75 | €37,876 | €134,418 | +€96,542 | +254.9% |
| Non-recurring financial income | 76B | - | €20 | +€20 | |
| Financial charges | 65/66B | €42,774 | €41,395 | -€1,379 | -3.2% |
| Recurring financial charges | 65 | €42,774 | €41,395 | -€1,379 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €2,528,039 | €141,454 | -€2.4m | -94.4% |
| Income taxes | 67/77 | €238,945 | €30,983 | -€207,962 | -87.0% |
| Profit (loss) for the period | 9904 | €2,289,094 | €110,471 | -€2.2m | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,289,094 | €110,471 | -€2.2m | -95.2% |
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 3 October 2026 via checked.be.