e2e: 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.
e2e
Largest movements
- Tangible fixed assets +€124,021
up €124,021 (+518.9%), from €23,900 to €147,921
of which Other tangible fixed assets: +€112,051
- Receivables within one year +€81,425
up €81,425 (+23.1%), from €352,488 to €433,913
of which Trade receivables: +€104,075
- Current investments +€52,296
new in 2025: €52,296
- Cash +€14,904
up €14,904 (+7.8%), from €191,016 to €205,921
mainly Net result for the year (+€123,398) and Debts after one year (+€87,907)
- Reserves +€123,398
up €123,398 (+50.8%), from €242,777 to €366,175
of which Tax-exempt reserves: +€67,360
- Debts after one year +€87,907
up €87,907 (+567.2%), from €15,497 to €103,404
- Trade debts +€58,466
up €58,466 (+61.0%), from €95,826 to €154,292
- Other debts +€31,400
up €31,400 (+392501.8%), from €8 to €31,408
- Tax, wage and social debts -€30,205
down €30,205 (-21.7%), from €139,000 to €108,795
of which Taxes: -€31,374
- Gross operating margin -€23,006
down €23,006 (-2.9%), from €806,174 to €783,168
- Staff costs -€10,979
down €10,979 (-1.8%), from €599,419 to €588,440
- Taxes -€8,435
down €8,435 (-15.5%), from €54,307 to €45,872
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 | €567,721 | €848,487 | +€280,766 | +49.5% |
| Fixed assets | 21/28 | €23,900 | €147,921 | +€124,021 | +518.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €23,900 | €147,921 | +€124,021 | +518.9% |
| Plant, machinery and equipment | 23 | - | €1,850 | +€1,850 | |
| Furniture and vehicles | 24 | €16,014 | €26,135 | +€10,121 | +63.2% |
| Other tangible fixed assets | 26 | €7,886 | €119,936 | +€112,051 | +1420.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €543,821 | €700,565 | +€156,745 | +28.8% |
| Amounts receivable within one year | 40/41 | €352,488 | €433,913 | +€81,425 | +23.1% |
| Trade receivables | 40 | €328,092 | €432,167 | +€104,075 | +31.7% |
| Other amounts receivable | 41 | €24,396 | €1,747 | -€22,650 | -92.8% |
| Current investments | 50/53 | - | €52,296 | +€52,296 | |
| Cash at bank and in hand | 54/58 | €191,016 | €205,921 | +€14,904 | +7.8% |
| Deferred charges and accrued income | 490/1 | €316 | €8,436 | +€8,119 | +2568.2% |
| Total equity and liabilities | 10/49 | €567,721 | €848,487 | +€280,766 | +49.5% |
| Equity | 10/15 | €304,777 | €428,175 | +€123,398 | +40.5% |
| 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% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €242,777 | €366,175 | +€123,398 | +50.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,510 | €71,870 | +€67,360 | +1493.6% |
| Distributable reserves | 133 | €232,067 | €288,105 | +€56,038 | +24.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €262,944 | €420,312 | +€157,368 | +59.8% |
| Amounts payable after more than one year | 17 | €15,497 | €103,404 | +€87,907 | +567.2% |
| Financial debts | 170/4 | €15,497 | €103,404 | +€87,907 | +567.2% |
| Amounts payable within one year | 42/48 | €247,447 | €316,551 | +€69,104 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €12,613 | €21,268 | +€8,655 | +68.6% |
| Financial debts | 43 | - | €788 | +€788 | |
| Credit institutions | 430/8 | - | €788 | +€788 | |
| Trade debts | 44 | €95,826 | €154,292 | +€58,466 | +61.0% |
| Suppliers | 440/4 | €95,826 | €154,292 | +€58,466 | +61.0% |
| Taxes, remuneration and social security | 45 | €139,000 | €108,795 | -€30,205 | -21.7% |
| Taxes | 450/3 | €46,952 | €15,578 | -€31,374 | -66.8% |
| Remuneration and social security | 454/9 | €92,048 | €93,217 | +€1,169 | +1.3% |
| Other amounts payable | 47/48 | €8 | €31,408 | +€31,400 | +392501.8% |
| Accrued charges and deferred income | 492/3 | - | €358 | +€358 | |
| Remuneration, social security and pensions | 62 | €599,419 | €588,440 | -€10,979 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,657 | €15,785 | -€6,872 | -30.3% |
| Other operating charges | 640/8 | €3,182 | €1,788 | -€1,394 | -43.8% |
| Gross operating margin | 9900 | €806,174 | €783,168 | -€23,006 | -2.9% |
| Operating profit (loss) | 9901 | €180,916 | €177,154 | -€3,761 | -2.1% |
| Financial income | 75/76B | €3,295 | €1,316 | -€1,979 | -60.1% |
| Recurring financial income | 75 | €3,295 | €1,316 | -€1,979 | -60.1% |
| Financial charges | 65/66B | €9,461 | €9,201 | -€261 | -2.8% |
| Recurring financial charges | 65 | €9,461 | €9,201 | -€261 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €174,749 | €169,270 | -€5,480 | -3.1% |
| Income taxes | 67/77 | €54,307 | €45,872 | -€8,435 | -15.5% |
| Profit (loss) for the period | 9904 | €120,442 | €123,398 | +€2,956 | +2.5% |
| Transfer to tax-exempt reserves | 689 | - | €67,360 | +€67,360 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,442 | €56,038 | -€64,404 | -53.5% |
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 5 October 2026 via checked.be.