E-STRATEGIE: 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.
E-STRATEGIE
Largest movements
- Cash +€63,301
up €63,301 (+325%), from €19,476 to €82,777
mainly Other debts (+€142,050) and Depreciation (+€77,763)
- Tangible fixed assets -€61,987
down €61,987 (-2.8%), from €2.2m to €2.1m
of which Land and buildings: -€59,897
- Other debts +€142,050
up €142,050 (+5.2%), from €2.8m to €2.9m
- Profit (loss) carried forward -€139,983
down €139,983 (-23.0%), from -€609,647 to -€749,629
- Gross operating margin +€36,569
up €36,569 (+5,508%), from €664 to €37,233
- Financial charges +€1,741
up €1,741 (+3.4%), from €50,772 to €52,512
- Taxes -€1,022
no longer reported in 2025 (was €1,022)
- Other operating charges +€914
up €914 (+41.3%), from €2,210 to €3,124
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 | €2,206,692 | €2,208,007 | +€1,315 | +0.1% |
| Fixed assets | 21/28 | €2,183,162 | €2,121,175 | -€61,987 | -2.8% |
| Tangible fixed assets | 22/27 | €2,183,063 | €2,121,076 | -€61,987 | -2.8% |
| Land and buildings | 22 | €2,069,864 | €2,009,967 | -€59,897 | -2.9% |
| Plant, machinery and equipment | 23 | €19,683 | €17,223 | -€2,460 | -12.5% |
| Furniture and vehicles | 24 | €93,515 | €93,886 | +€371 | +0.4% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €23,530 | €86,831 | +€63,301 | +269% |
| Amounts receivable within one year | 40/41 | €4,054 | €4,054 | = | 0.0% |
| Other amounts receivable | 41 | €4,054 | €4,054 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,476 | €82,777 | +€63,301 | +325% |
| Total equity and liabilities | 10/49 | €2,206,692 | €2,208,007 | +€1,315 | +0.1% |
| Equity | 10/15 | -€547,647 | -€687,629 | -€139,983 | -25.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€609,647 | -€749,629 | -€139,983 | -23.0% |
| Amounts payable | 17/49 | €2,754,339 | €2,895,636 | +€141,297 | +5.1% |
| Amounts payable within one year | 42/48 | €2,754,339 | €2,895,636 | +€141,297 | +5.1% |
| Trade debts | 44 | €1,502 | €749 | -€753 | -50.1% |
| Suppliers | 440/4 | €1,502 | €749 | -€753 | -50.1% |
| Other amounts payable | 47/48 | €2,752,837 | €2,894,887 | +€142,050 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,110 | €77,763 | -€347 | -0.4% |
| Other operating charges | 640/8 | €2,210 | €3,124 | +€914 | +41.3% |
| Non-recurring operating charges | 66A | - | €43,824 | +€43,824 | |
| Gross operating margin | 9900 | €664 | €37,233 | +€36,569 | +5,508% |
| Operating profit (loss) | 9901 | -€79,656 | -€87,478 | -€7,822 | -9.8% |
| Financial income | 75/76B | €40 | €8 | -€33 | -80.7% |
| Recurring financial income | 75 | €40 | €8 | -€33 | -80.7% |
| Financial charges | 65/66B | €50,772 | €52,512 | +€1,741 | +3.4% |
| Recurring financial charges | 65 | €50,772 | €52,512 | +€1,741 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€130,387 | -€139,983 | -€9,595 | -7.4% |
| Income taxes | 67/77 | €1,022 | - | -€1,022 | |
| Profit (loss) for the period | 9904 | -€131,409 | -€139,983 | -€8,574 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€131,409 | -€139,983 | -€8,574 | -6.5% |
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 31 October 2026 via checked.be.