END2END: 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.
END2END
Largest movements
- Receivables within one year +€36,973
up €36,973 (+94.2%), from €39,236 to €76,209
of which Trade receivables: +€58,689
- Cash -€28,052
down €28,052 (-59.5%), from €47,108 to €19,056
mainly Contributions, distributions and other (-€66,830) and Receivables within one year (-€36,973)
- Tangible fixed assets +€10,647
up €10,647 (+872.8%), from €1,220 to €11,867
of which Other tangible fixed assets: +€11,357
- Tax, wage and social debts +€25,716
up €25,716 (+86.9%), from €29,602 to €55,317
of which Taxes: +€21,271
- Profit (loss) carried forward -€18,379
down €18,379 (-36.3%), from €50,573 to €32,194
- Other debts +€10,025
new in 2025: €10,025
- Trade debts +€1,479
up €1,479 (+67.3%), from €2,198 to €3,677
- Gross operating margin +€55,333
up €55,333 (+342.9%), from €16,139 to €71,472
- Taxes +€10,240
up €10,240 (+288.7%), from €3,547 to €13,787
- Financial charges +€2,431
up €2,431 (+77.9%), from €3,120 to €5,551
- Depreciation +€1,440
up €1,440 (+202.9%), from €710 to €2,150
- Other operating charges +€1,157
up €1,157 (+250.6%), from €462 to €1,618
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 | €87,664 | €107,249 | +€19,585 | +22.3% |
| Fixed assets | 21/28 | €1,220 | €11,867 | +€10,647 | +872.8% |
| Tangible fixed assets | 22/27 | €1,220 | €11,867 | +€10,647 | +872.8% |
| Furniture and vehicles | 24 | €1,220 | €510 | -€710 | -58.2% |
| Other tangible fixed assets | 26 | - | €11,357 | +€11,357 | |
| Current assets | 29/58 | €86,444 | €95,383 | +€8,938 | +10.3% |
| Amounts receivable within one year | 40/41 | €39,236 | €76,209 | +€36,973 | +94.2% |
| Trade receivables | 40 | €17,520 | €76,209 | +€58,689 | +335.0% |
| Other amounts receivable | 41 | €21,716 | - | -€21,716 | |
| Cash at bank and in hand | 54/58 | €47,108 | €19,056 | -€28,052 | -59.5% |
| Deferred charges and accrued income | 490/1 | €100 | €117 | +€17 | +17.2% |
| Total equity and liabilities | 10/49 | €87,664 | €107,249 | +€19,585 | +22.3% |
| Equity | 10/15 | €55,573 | €37,194 | -€18,379 | -33.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,573 | €32,194 | -€18,379 | -36.3% |
| Amounts payable | 17/49 | €32,091 | €70,055 | +€37,964 | +118.3% |
| Amounts payable within one year | 42/48 | €31,800 | €69,755 | +€37,955 | +119.4% |
| Financial debts | 43 | - | €735 | +€735 | |
| Credit institutions | 430/8 | - | €735 | +€735 | |
| Trade debts | 44 | €2,198 | €3,677 | +€1,479 | +67.3% |
| Suppliers | 440/4 | €2,198 | €3,677 | +€1,479 | +67.3% |
| Taxes, remuneration and social security | 45 | €29,602 | €55,317 | +€25,716 | +86.9% |
| Taxes | 450/3 | €29,602 | €50,873 | +€21,271 | +71.9% |
| Remuneration and social security | 454/9 | - | €4,445 | +€4,445 | |
| Other amounts payable | 47/48 | - | €10,025 | +€10,025 | |
| Accrued charges and deferred income | 492/3 | €291 | €300 | +€9 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €710 | €2,150 | +€1,440 | +202.9% |
| Other operating charges | 640/8 | €462 | €1,618 | +€1,157 | +250.6% |
| Gross operating margin | 9900 | €16,139 | €71,472 | +€55,333 | +342.9% |
| Operating profit (loss) | 9901 | €14,967 | €67,704 | +€52,736 | +352.3% |
| Financial income | 75/76B | €0 | €86 | +€85 | +65684.6% |
| Recurring financial income | 75 | €0 | €86 | +€85 | +65684.6% |
| Financial charges | 65/66B | €3,120 | €5,551 | +€2,431 | +77.9% |
| Recurring financial charges | 65 | €3,120 | €5,551 | +€2,431 | +77.9% |
| Profit (loss) for the period before taxes | 9903 | €11,848 | €62,238 | +€50,390 | +425.3% |
| Income taxes | 67/77 | €3,547 | €13,787 | +€10,240 | +288.7% |
| Profit (loss) for the period | 9904 | €8,301 | €48,451 | +€40,150 | +483.7% |
| Profit (loss) for the period to be appropriated | 9905 | €8,301 | €48,451 | +€40,150 | +483.7% |
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 11 October 2026 via checked.be.