E²: 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.
E²
Largest movements
- Tangible fixed assets -€31,146
down €31,146 (-2.8%), from €1.1m to €1.1m
of which Land and buildings: -€30,987
- Cash +€11,982
up €11,982 (+1748.9%), from €685 to €12,667
mainly Depreciation (+€31,146) and Net result for the year (+€29,770)
- Debts after one year -€46,668
down €46,668 (-6.1%), from €764,991 to €718,323
- Reserves +€29,770
up €29,770 (+20.1%), from €148,389 to €178,159
- Trade debts +€24,712
up €24,712 (+293.8%), from €8,412 to €33,124
- Other debts -€19,304
down €19,304 (-19.8%), from €97,721 to €78,417
- Current portion of long-term debt -€14,259
down €14,259 (-23.4%), from €60,927 to €46,668
- Gross operating margin +€32,150
up €32,150 (+26.5%), from €121,194 to €153,343
- Taxes +€9,102
up €9,102 (+148.5%), from €6,130 to €15,232
- Staff costs +€5,418
up €5,418 (+9.4%), from €57,404 to €62,822
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 | €1,106,304 | €1,087,796 | -€18,509 | -1.7% |
| Fixed assets | 21/28 | €1,105,091 | €1,073,945 | -€31,146 | -2.8% |
| Tangible fixed assets | 22/27 | €1,105,091 | €1,073,945 | -€31,146 | -2.8% |
| Land and buildings | 22 | €1,102,967 | €1,071,979 | -€30,987 | -2.8% |
| Plant, machinery and equipment | 23 | €2,124 | €1,966 | -€158 | -7.5% |
| Current assets | 29/58 | €1,214 | €13,851 | +€12,637 | +1041.4% |
| Amounts receivable within one year | 40/41 | €155 | - | -€155 | |
| Trade receivables | 40 | €155 | - | -€155 | |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €685 | €12,667 | +€11,982 | +1748.9% |
| Deferred charges and accrued income | 490/1 | €123 | €934 | +€811 | +658.5% |
| Total equity and liabilities | 10/49 | €1,106,304 | €1,087,796 | -€18,509 | -1.7% |
| Equity | 10/15 | €154,589 | €184,359 | +€29,770 | +19.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €148,389 | €178,159 | +€29,770 | +20.1% |
| Distributable reserves | 133 | €148,389 | €178,159 | +€29,770 | +20.1% |
| Amounts payable | 17/49 | €951,716 | €903,437 | -€48,279 | -5.1% |
| Amounts payable after more than one year | 17 | €764,991 | €718,323 | -€46,668 | -6.1% |
| Financial debts | 170/4 | €764,991 | €718,323 | -€46,668 | -6.1% |
| Amounts payable within one year | 42/48 | €186,714 | €184,944 | -€1,770 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €60,927 | €46,668 | -€14,259 | -23.4% |
| Trade debts | 44 | €8,412 | €33,124 | +€24,712 | +293.8% |
| Suppliers | 440/4 | €8,412 | €33,124 | +€24,712 | +293.8% |
| Taxes, remuneration and social security | 45 | €19,654 | €26,735 | +€7,082 | +36.0% |
| Taxes | 450/3 | €9,866 | €16,592 | +€6,727 | +68.2% |
| Remuneration and social security | 454/9 | €9,788 | €10,143 | +€355 | +3.6% |
| Other amounts payable | 47/48 | €97,721 | €78,417 | -€19,304 | -19.8% |
| Accrued charges and deferred income | 492/3 | €10 | €170 | +€159 | +1526.0% |
| Remuneration, social security and pensions | 62 | €57,404 | €62,822 | +€5,418 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,364 | €31,146 | +€782 | +2.6% |
| Other operating charges | 640/8 | €6,450 | €6,652 | +€201 | +3.1% |
| Gross operating margin | 9900 | €121,194 | €153,343 | +€32,150 | +26.5% |
| Operating profit (loss) | 9901 | €26,975 | €52,724 | +€25,749 | +95.5% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €8,855 | €7,721 | -€1,134 | -12.8% |
| Recurring financial charges | 65 | €8,855 | €7,721 | -€1,134 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €18,127 | €45,002 | +€26,876 | +148.3% |
| Income taxes | 67/77 | €6,130 | €15,232 | +€9,102 | +148.5% |
| Profit (loss) for the period | 9904 | €11,996 | €29,770 | +€17,774 | +148.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,996 | €29,770 | +€17,774 | +148.2% |
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 10 October 2026 via checked.be.