EFFECTIVE: 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.
EFFECTIVE
Largest movements
- Receivables within one year -€35,564
down €35,564 (-82.7%), from €43,024 to €7,460
of which Trade receivables: -€19,162
- Tangible fixed assets +€11,866
up €11,866 (+29.9%), from €39,650 to €51,517
of which Furniture and vehicles: +€12,770
- Cash +€2,300
up €2,300 (+21.6%), from €10,646 to €12,945
mainly Receivables within one year (+€35,564) and Depreciation (+€14,293)
- Deferred charges and accrued income -€1,031
down €1,031 (-53.7%), from €1,920 to €889
- Contributions -€17,297
down €17,297 (-25.4%), from €68,171 to €50,874
- Tax, wage and social debts -€6,213
down €6,213 (-45.6%), from €13,636 to €7,424
of which Taxes: -€6,298
- Trade debts +€1,117
up €1,117 (+99.7%), from €1,121 to €2,238
- Other debts -€958
down €958 (-67.5%), from €1,420 to €462
- Gross operating margin -€21,198
down €21,198 (-54.9%), from €38,611 to €17,414
- Taxes -€12,072
down €12,072 (-94.2%), from €12,809 to €737
- Other operating charges -€2,885
down €2,885 (-81.2%), from €3,553 to €668
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 | €95,490 | €73,061 | -€22,429 | -23.5% |
| Fixed assets | 21/28 | €39,900 | €51,767 | +€11,866 | +29.7% |
| Tangible fixed assets | 22/27 | €39,650 | €51,517 | +€11,866 | +29.9% |
| Plant, machinery and equipment | 23 | €1,557 | €654 | -€903 | -58.0% |
| Furniture and vehicles | 24 | €38,094 | €50,863 | +€12,770 | +33.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €55,590 | €21,294 | -€34,295 | -61.7% |
| Amounts receivable within one year | 40/41 | €43,024 | €7,460 | -€35,564 | -82.7% |
| Trade receivables | 40 | €22,924 | €3,762 | -€19,162 | -83.6% |
| Other amounts receivable | 41 | €20,100 | €3,698 | -€16,402 | -81.6% |
| Cash at bank and in hand | 54/58 | €10,646 | €12,945 | +€2,300 | +21.6% |
| Deferred charges and accrued income | 490/1 | €1,920 | €889 | -€1,031 | -53.7% |
| Total equity and liabilities | 10/49 | €95,490 | €73,061 | -€22,429 | -23.5% |
| Equity | 10/15 | €79,281 | €62,901 | -€16,379 | -20.7% |
| Contributions | 10/11 | €68,171 | €50,874 | -€17,297 | -25.4% |
| Reserves | 13 | €11,110 | €12,027 | +€917 | +8.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €11,110 | €12,027 | +€917 | +8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,209 | €10,160 | -€6,050 | -37.3% |
| Amounts payable within one year | 42/48 | €16,209 | €10,160 | -€6,050 | -37.3% |
| Financial debts | 43 | €32 | €36 | +€4 | +13.7% |
| Credit institutions | 430/8 | €32 | €36 | +€4 | +13.7% |
| Trade debts | 44 | €1,121 | €2,238 | +€1,117 | +99.7% |
| Suppliers | 440/4 | €1,121 | €2,238 | +€1,117 | +99.7% |
| Taxes, remuneration and social security | 45 | €13,636 | €7,424 | -€6,213 | -45.6% |
| Taxes | 450/3 | €13,636 | €7,339 | -€6,298 | -46.2% |
| Remuneration and social security | 454/9 | - | €85 | +€85 | |
| Other amounts payable | 47/48 | €1,420 | €462 | -€958 | -67.5% |
| Non-recurring operating income | 76A | €13,743 | €17,961 | +€4,218 | +30.7% |
| Remuneration, social security and pensions | 62 | €328 | €0 | -€328 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,166 | €14,293 | +€127 | +0.9% |
| Other operating charges | 640/8 | €3,553 | €668 | -€2,885 | -81.2% |
| Non-recurring operating charges | 66A | €7,553 | €0 | -€7,553 | -100.0% |
| Gross operating margin | 9900 | €38,611 | €17,414 | -€21,198 | -54.9% |
| Operating profit (loss) | 9901 | €13,010 | €2,452 | -€10,558 | -81.2% |
| Financial income | 75/76B | €286 | €43 | -€244 | -85.1% |
| Recurring financial income | 75 | €286 | €43 | -€244 | -85.1% |
| Financial charges | 65/66B | €276 | €161 | -€116 | -41.9% |
| Recurring financial charges | 65 | €276 | €161 | -€116 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | €13,020 | €2,334 | -€10,686 | -82.1% |
| Income taxes | 67/77 | €12,809 | €737 | -€12,072 | -94.2% |
| Profit (loss) for the period | 9904 | €211 | €1,597 | +€1,386 | +657.0% |
| Profit (loss) for the period to be appropriated | 9905 | €211 | €1,597 | +€1,386 | +657.0% |
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 8 October 2026 via checked.be.