Dr Delphine RIGOT: 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.
Dr Delphine RIGOT
Largest movements
- Receivables after one year -€52,000
down €52,000 (-100%), from €52,000 to €0
- Tangible fixed assets +€26,831
up €26,831 (+11.8%), from €227,342 to €254,172
of which Assets under construction and advance payments: +€50,000
- Receivables within one year +€7,444
up €7,444 (+17.3%), from €42,912 to €50,355
of which Other amounts receivable: +€8,844
- Debts after one year -€30,684
down €30,684 (-38.5%), from €79,630 to €48,946
- Reserves +€16,314
up €16,314 (+6.1%), from €268,284 to €284,598
- Other debts -€9,781
down €9,781 (-18.9%), from €51,655 to €41,874
- Gross operating margin +€23,079
up €23,079 (+25.4%), from €90,825 to €113,904
- Taxes +€8,051
up €8,051 (+55.0%), from €14,626 to €22,677
- Depreciation -€5,956
down €5,956 (-18.3%), from €32,595 to €26,638
- Other operating charges -€3,553
down €3,553 (-77.0%), from €4,611 to €1,058
- Financial charges +€1,508
up €1,508 (+39.3%), from €3,834 to €5,342
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 | €452,211 | €427,852 | -€24,360 | -5.4% |
| Fixed assets | 21/28 | €227,342 | €254,172 | +€26,831 | +11.8% |
| Tangible fixed assets | 22/27 | €227,342 | €254,172 | +€26,831 | +11.8% |
| Land and buildings | 22 | €40,940 | €40,940 | = | 0.0% |
| Plant, machinery and equipment | 23 | €30,367 | €23,890 | -€6,477 | -21.3% |
| Furniture and vehicles | 24 | €69,772 | €53,080 | -€16,693 | -23.9% |
| Assets under construction and advance payments | 27 | €86,263 | €136,263 | +€50,000 | +58.0% |
| Current assets | 29/58 | €224,870 | €173,679 | -€51,190 | -22.8% |
| Amounts receivable after more than one year | 29 | €52,000 | €0 | -€52,000 | -100% |
| Other amounts receivable | 291 | €52,000 | €0 | -€52,000 | -100% |
| Amounts receivable within one year | 40/41 | €42,912 | €50,355 | +€7,444 | +17.3% |
| Trade receivables | 40 | €1,400 | €0 | -€1,400 | -100% |
| Other amounts receivable | 41 | €41,512 | €50,355 | +€8,844 | +21.3% |
| Cash at bank and in hand | 54/58 | €120,476 | €116,154 | -€4,323 | -3.6% |
| Deferred charges and accrued income | 490/1 | €9,482 | €7,170 | -€2,312 | -24.4% |
| Total equity and liabilities | 10/49 | €452,211 | €427,852 | -€24,360 | -5.4% |
| Equity | 10/15 | €281,105 | €297,419 | +€16,314 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €268,284 | €284,598 | +€16,314 | +6.1% |
| Distributable reserves | 133 | €268,284 | €284,598 | +€16,314 | +6.1% |
| Profit (loss) carried forward | 14 | €421 | €421 | = | 0.0% |
| Amounts payable | 17/49 | €171,107 | €130,433 | -€40,674 | -23.8% |
| Amounts payable after more than one year | 17 | €79,630 | €48,946 | -€30,684 | -38.5% |
| Financial debts | 170/4 | €79,630 | €48,946 | -€30,684 | -38.5% |
| Amounts payable within one year | 42/48 | €86,389 | €77,293 | -€9,096 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €29,705 | €32,016 | +€2,311 | +7.8% |
| Trade debts | 44 | €403 | €527 | +€123 | +30.6% |
| Suppliers | 440/4 | €403 | €527 | +€123 | +30.6% |
| Taxes, remuneration and social security | 45 | €4,626 | €2,877 | -€1,749 | -37.8% |
| Taxes | 450/3 | €4,626 | €2,877 | -€1,749 | -37.8% |
| Other amounts payable | 47/48 | €51,655 | €41,874 | -€9,781 | -18.9% |
| Accrued charges and deferred income | 492/3 | €5,087 | €4,193 | -€894 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,595 | €26,638 | -€5,956 | -18.3% |
| Other operating charges | 640/8 | €4,611 | €1,058 | -€3,553 | -77.0% |
| Gross operating margin | 9900 | €90,825 | €113,904 | +€23,079 | +25.4% |
| Operating profit (loss) | 9901 | €53,618 | €86,207 | +€32,588 | +60.8% |
| Financial income | 75/76B | €1,357 | €0 | -€1,357 | -100% |
| Recurring financial income | 75 | €1,357 | €0 | -€1,357 | -100% |
| Financial charges | 65/66B | €3,834 | €5,342 | +€1,508 | +39.3% |
| Recurring financial charges | 65 | €3,834 | €5,342 | +€1,508 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €51,141 | €80,865 | +€29,723 | +58.1% |
| Income taxes | 67/77 | €14,626 | €22,677 | +€8,051 | +55.0% |
| Profit (loss) for the period | 9904 | €36,515 | €58,188 | +€21,673 | +59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,515 | €58,188 | +€21,673 | +59.4% |
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 22 October 2026 via checked.be.