E-MANAGEMENT: 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.
E-MANAGEMENT
Largest movements
- Receivables within one year -€89,247
down €89,247 (-46.8%), from €190,845 to €101,599
of which Other amounts receivable: -€92,035
- Cash -€77,755
down €77,755 (-37.0%), from €210,000 to €132,245
mainly Contributions, distributions and other (-€77,950) and Other debts (-€50,450)
- Tangible fixed assets +€9,397
up €9,397 (+73.3%), from €12,828 to €22,225
of which Furniture and vehicles: +€10,240
- Reserves -€72,300
down €72,300 (-20.6%), from €350,860 to €278,560
- Other debts -€50,450
down €50,450 (-39.3%), from €128,400 to €77,950
- Tax, wage and social debts -€15,198
down €15,198 (-66.9%), from €22,703 to €7,505
of which Taxes: -€15,222
- Trade debts -€15,121
down €15,121 (-74.4%), from €20,331 to €5,210
- Gross operating margin -€85,990
down €85,990 (-94.5%), from €90,991 to €5,001
- Taxes -€23,200
down €23,200 (-85.8%), from €27,046 to €3,846
- Financial charges -€5,434
down €5,434 (-59.2%), from €9,186 to €3,751
- Other operating charges -€1,424
down €1,424 (-41.9%), from €3,399 to €1,975
- Depreciation +€1,011
up €1,011 (+42.0%), from €2,405 to €3,416
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 | €553,686 | €395,299 | -€158,387 | -28.6% |
| Fixed assets | 21/28 | €12,828 | €22,225 | +€9,397 | +73.3% |
| Tangible fixed assets | 22/27 | €12,828 | €22,225 | +€9,397 | +73.3% |
| Plant, machinery and equipment | 23 | €1,700 | €1,323 | -€376 | -22.1% |
| Furniture and vehicles | 24 | €7,199 | €17,439 | +€10,240 | +142.2% |
| Other tangible fixed assets | 26 | €3,929 | €3,462 | -€467 | -11.9% |
| Current assets | 29/58 | €540,858 | €373,075 | -€167,783 | -31.0% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €190,845 | €101,599 | -€89,247 | -46.8% |
| Trade receivables | 40 | €21,199 | €23,988 | +€2,789 | +13.2% |
| Other amounts receivable | 41 | €169,646 | €77,611 | -€92,035 | -54.3% |
| Cash at bank and in hand | 54/58 | €210,000 | €132,245 | -€77,755 | -37.0% |
| Deferred charges and accrued income | 490/1 | €15,013 | €14,232 | -€781 | -5.2% |
| Total equity and liabilities | 10/49 | €553,686 | €395,299 | -€158,387 | -28.6% |
| Equity | 10/15 | €357,414 | €285,148 | -€72,267 | -20.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €350,860 | €278,560 | -€72,300 | -20.6% |
| Distributable reserves | 133 | €350,860 | €278,560 | -€72,300 | -20.6% |
| Profit (loss) carried forward | 14 | €354 | €388 | +€33 | +9.4% |
| Amounts payable | 17/49 | €196,272 | €110,152 | -€86,120 | -43.9% |
| Amounts payable after more than one year | 17 | €4,015 | €2,476 | -€1,538 | -38.3% |
| Financial debts | 170/4 | €4,015 | €2,476 | -€1,538 | -38.3% |
| Amounts payable within one year | 42/48 | €192,257 | €107,675 | -€84,582 | -44.0% |
| Current portion of amounts payable after more than one year | 42 | €1,454 | €1,538 | +€84 | +5.8% |
| Financial debts | 43 | €19,369 | €15,471 | -€3,897 | -20.1% |
| Credit institutions | 430/8 | €19,369 | €15,471 | -€3,897 | -20.1% |
| Trade debts | 44 | €20,331 | €5,210 | -€15,121 | -74.4% |
| Suppliers | 440/4 | €20,331 | €5,210 | -€15,121 | -74.4% |
| Taxes, remuneration and social security | 45 | €22,703 | €7,505 | -€15,198 | -66.9% |
| Taxes | 450/3 | €19,276 | €4,054 | -€15,222 | -79.0% |
| Remuneration and social security | 454/9 | €3,427 | €3,451 | +€24 | +0.7% |
| Other amounts payable | 47/48 | €128,400 | €77,950 | -€50,450 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,405 | €3,416 | +€1,011 | +42.0% |
| Other operating charges | 640/8 | €3,399 | €1,975 | -€1,424 | -41.9% |
| Gross operating margin | 9900 | €90,991 | €5,001 | -€85,990 | -94.5% |
| Operating profit (loss) | 9901 | €85,187 | -€390 | -€85,577 | |
| Financial income | 75/76B | €14,220 | €13,671 | -€548 | -3.9% |
| Recurring financial income | 75 | €14,220 | €13,671 | -€548 | -3.9% |
| Financial charges | 65/66B | €9,186 | €3,751 | -€5,434 | -59.2% |
| Recurring financial charges | 65 | €9,186 | €3,751 | -€5,434 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €90,221 | €9,530 | -€80,691 | -89.4% |
| Income taxes | 67/77 | €27,046 | €3,846 | -€23,200 | -85.8% |
| Profit (loss) for the period | 9904 | €63,175 | €5,683 | -€57,492 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,175 | €5,683 | -€57,492 | -91.0% |
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.