EFFECTIVE IT: 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 IT
Largest movements
- Receivables within one year +€57,005
up €57,005 (+30.3%), from €188,158 to €245,164
of which Trade receivables: +€57,746
- Cash +€17,844
up €17,844 (+4154.4%), from €430 to €18,274
mainly Net result for the year (+€77,186) and Tax, wage and social debts (+€2,167)
- Reserves +€77,186
up €77,186 (+93.7%), from €82,375 to €159,561
- Other debts -€5,717
down €5,717 (-12.3%), from €46,344 to €40,627
- Write-downs -€186,677
down €186,677 (-100.0%), from €186,677 to €0
- Gross operating margin -€33,728
down €33,728 (-29.1%), from €115,757 to €82,029
- Depreciation -€3,001
down €3,001 (-62.9%), from €4,770 to €1,769
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 | €193,964 | €267,452 | +€73,488 | +37.9% |
| Fixed assets | 21/28 | €4,167 | €2,398 | -€1,769 | -42.5% |
| Tangible fixed assets | 22/27 | €4,167 | €2,398 | -€1,769 | -42.5% |
| Plant, machinery and equipment | 23 | €1,257 | €66 | -€1,191 | -94.8% |
| Furniture and vehicles | 24 | €274 | €40 | -€234 | -85.5% |
| Other tangible fixed assets | 26 | €2,636 | €2,292 | -€344 | -13.0% |
| Current assets | 29/58 | €189,797 | €265,054 | +€75,257 | +39.7% |
| Amounts receivable within one year | 40/41 | €188,158 | €245,164 | +€57,005 | +30.3% |
| Trade receivables | 40 | €187,418 | €245,164 | +€57,746 | +30.8% |
| Other amounts receivable | 41 | €741 | €0 | -€741 | -100.0% |
| Cash at bank and in hand | 54/58 | €430 | €18,274 | +€17,844 | +4154.4% |
| Deferred charges and accrued income | 490/1 | €1,209 | €1,616 | +€407 | +33.7% |
| Total equity and liabilities | 10/49 | €193,964 | €267,452 | +€73,488 | +37.9% |
| Equity | 10/15 | €100,925 | €178,111 | +€77,186 | +76.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €82,375 | €159,561 | +€77,186 | +93.7% |
| Distributable reserves | 133 | €82,375 | €159,561 | +€77,186 | +93.7% |
| Amounts payable | 17/49 | €93,039 | €89,341 | -€3,698 | -4.0% |
| Amounts payable after more than one year | 17 | €37,500 | €37,500 | = | 0.0% |
| Financial debts | 170/4 | €37,500 | €37,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,539 | €51,841 | -€3,698 | -6.7% |
| Trade debts | 44 | €1,594 | €1,447 | -€148 | -9.3% |
| Suppliers | 440/4 | €1,594 | €1,447 | -€148 | -9.3% |
| Taxes, remuneration and social security | 45 | €7,601 | €9,768 | +€2,167 | +28.5% |
| Taxes | 450/3 | €7,601 | €9,768 | +€2,167 | +28.5% |
| Other amounts payable | 47/48 | €46,344 | €40,627 | -€5,717 | -12.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,770 | €1,769 | -€3,001 | -62.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €186,677 | €0 | -€186,677 | -100.0% |
| Other operating charges | 640/8 | €118 | €507 | +€389 | +329.9% |
| Gross operating margin | 9900 | €115,757 | €82,029 | -€33,728 | -29.1% |
| Operating profit (loss) | 9901 | -€75,808 | €79,753 | +€155,561 | |
| Financial income | 75/76B | €9 | €0 | -€9 | -100.0% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -100.0% |
| Financial charges | 65/66B | €2,299 | €1,951 | -€348 | -15.1% |
| Recurring financial charges | 65 | €2,299 | €1,951 | -€348 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€78,098 | €77,802 | +€155,900 | |
| Income taxes | 67/77 | €258 | €616 | +€358 | +138.6% |
| Profit (loss) for the period | 9904 | -€78,356 | €77,186 | +€155,542 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,356 | €77,186 | +€155,542 |
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 29 September 2026 via checked.be.