Episode: 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.
Episode
Largest movements
- Tangible fixed assets +€228,403
up €228,403 (+26.3%), from €870,083 to €1.1m
of which Land and buildings: +€199,414
- Receivables within one year +€166,367
up €166,367 (+1,181%), from €14,088 to €180,455
of which Other amounts receivable: +€174,716
- Cash -€149,775
down €149,775 (-29.9%), from €500,110 to €350,335
mainly Investment in fixed assets (net) (-€309,894) and Receivables within one year (-€166,367)
- Stocks and contracts +€38,414
up €38,414 (+54.5%), from €70,482 to €108,896
- Profit (loss) carried forward +€235,498
up €235,498 (+58.0%), from €405,683 to €641,181
- Trade debts +€144,116
up €144,116 (+219%), from €65,907 to €210,022
- Debts after one year -€49,785
down €49,785 (-8.7%), from €574,762 to €524,977
- Current portion of long-term debt -€41,208
down €41,208 (-45.3%), from €90,993 to €49,785
- Other debts -€31,324
down €31,324 (-89.6%), from €34,957 to €3,633
- Other operating charges -€62,200
down €62,200 (-76.9%), from €80,896 to €18,696
- Gross operating margin -€33,206
down €33,206 (-4.6%), from €718,441 to €685,234
- Taxes -€14,220
down €14,220 (-17.1%), from €83,277 to €69,057
- Staff costs +€12,505
up €12,505 (+4.8%), from €262,851 to €275,356
- Depreciation +€11,749
up €11,749 (+16.8%), from €69,742 to €81,490
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 | €1,481,123 | €1,764,712 | +€283,589 | +19.1% |
| Fixed assets | 21/28 | €870,083 | €1,098,486 | +€228,403 | +26.3% |
| Tangible fixed assets | 22/27 | €870,083 | €1,098,486 | +€228,403 | +26.3% |
| Land and buildings | 22 | €790,254 | €989,668 | +€199,414 | +25.2% |
| Plant, machinery and equipment | 23 | €23,524 | €17,525 | -€5,999 | -25.5% |
| Furniture and vehicles | 24 | €56,305 | €91,293 | +€34,988 | +62.1% |
| Current assets | 29/58 | €611,040 | €666,226 | +€55,186 | +9.0% |
| Stocks and contracts in progress | 3 | €70,482 | €108,896 | +€38,414 | +54.5% |
| Stocks | 30/36 | €70,482 | €108,896 | +€38,414 | +54.5% |
| Amounts receivable within one year | 40/41 | €14,088 | €180,455 | +€166,367 | +1,181% |
| Trade receivables | 40 | €14,088 | €5,739 | -€8,349 | -59.3% |
| Other amounts receivable | 41 | - | €174,716 | +€174,716 | |
| Cash at bank and in hand | 54/58 | €500,110 | €350,335 | -€149,775 | -29.9% |
| Deferred charges and accrued income | 490/1 | €26,360 | €26,540 | +€180 | +0.7% |
| Total equity and liabilities | 10/49 | €1,481,123 | €1,764,712 | +€283,589 | +19.1% |
| Equity | 10/15 | €607,683 | €843,181 | +€235,498 | +38.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €82,000 | €62,000 | -€20,000 | -24.4% |
| Uncalled capital | 101 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €140,000 | €140,000 | = | 0.0% |
| Distributable reserves | 133 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €405,683 | €641,181 | +€235,498 | +58.0% |
| Amounts payable | 17/49 | €873,440 | €921,531 | +€48,091 | +5.5% |
| Amounts payable after more than one year | 17 | €574,762 | €524,977 | -€49,785 | -8.7% |
| Financial debts | 170/4 | €574,762 | €524,977 | -€49,785 | -8.7% |
| Amounts payable within one year | 42/48 | €298,678 | €396,554 | +€97,876 | +32.8% |
| Current portion of amounts payable after more than one year | 42 | €90,993 | €49,785 | -€41,208 | -45.3% |
| Trade debts | 44 | €65,907 | €210,022 | +€144,116 | +219% |
| Suppliers | 440/4 | €65,907 | €210,022 | +€144,116 | +219% |
| Advances received on contracts in progress | 46 | €65,285 | €76,721 | +€11,436 | +17.5% |
| Taxes, remuneration and social security | 45 | €41,536 | €56,393 | +€14,857 | +35.8% |
| Taxes | 450/3 | €16,310 | €14,601 | -€1,708 | -10.5% |
| Remuneration and social security | 454/9 | €25,226 | €41,792 | +€16,565 | +65.7% |
| Other amounts payable | 47/48 | €34,957 | €3,633 | -€31,324 | -89.6% |
| Remuneration, social security and pensions | 62 | €262,851 | €275,356 | +€12,505 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,742 | €81,490 | +€11,749 | +16.8% |
| Other operating charges | 640/8 | €80,896 | €18,696 | -€62,200 | -76.9% |
| Gross operating margin | 9900 | €718,441 | €685,234 | -€33,206 | -4.6% |
| Operating profit (loss) | 9901 | €304,951 | €309,692 | +€4,741 | +1.6% |
| Financial income | 75/76B | €10,154 | €12,570 | +€2,416 | +23.8% |
| Recurring financial income | 75 | €10,154 | €12,570 | +€2,416 | +23.8% |
| Financial charges | 65/66B | €16,962 | €17,707 | +€745 | +4.4% |
| Recurring financial charges | 65 | €16,962 | €17,707 | +€745 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €298,143 | €304,555 | +€6,412 | +2.2% |
| Income taxes | 67/77 | €83,277 | €69,057 | -€14,220 | -17.1% |
| Profit (loss) for the period | 9904 | €214,866 | €235,498 | +€20,633 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €214,866 | €235,498 | +€20,633 | +9.6% |
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 14 October 2026 via checked.be.