EQUITES4: 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.
EQUITES4
Largest movements
- Tangible fixed assets +€6.2m
up €6.2m (+64.9%), from €9.5m to €15.7m
of which Land and buildings: +€3.7m
- Receivables within one year +€214,250
new in 2025: €214,250
- Cash -€179,741
down €179,741 (-99.3%), from €181,048 to €1,307
mainly Investment in fixed assets (net) (-€6.2m) and Other debts (-€1.1m)
- Short-term financial debts +€7.7m
up €7.7m (+124.4%), from €6.2m to €14.0m
- Other debts -€1.1m
down €1.1m (-64.3%), from €1.7m to €592,804
- Profit (loss) carried forward -€771,548
down €771,548, from €39,864 to -€731,685
- Trade debts +€345,994
up €345,994 (+46.9%), from €736,990 to €1.1m
- Other operating charges +€465,560
up €465,560 (+2094.1%), from €22,232 to €487,792
- Gross operating margin -€339,707
down €339,707, from €79,234 to -€260,473
- Taxes -€14,511
down €14,511 (-100.0%), from €14,511 to €0
- Financial charges +€14,488
up €14,488 (+551.6%), from €2,626 to €17,114
- Depreciation +€6,169
new in 2025: €6,169
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 | €9,723,462 | €15,966,948 | +€6.2m | +64.2% |
| Fixed assets | 21/28 | €9,534,091 | €15,724,211 | +€6.2m | +64.9% |
| Tangible fixed assets | 22/27 | €9,534,091 | €15,724,211 | +€6.2m | +64.9% |
| Land and buildings | 22 | €4,526,075 | €8,231,292 | +€3.7m | +81.9% |
| Assets under construction and advance payments | 27 | €5,008,016 | €7,492,920 | +€2.5m | +49.6% |
| Current assets | 29/58 | €189,371 | €242,737 | +€53,366 | +28.2% |
| Amounts receivable within one year | 40/41 | - | €214,250 | +€214,250 | |
| Trade receivables | 40 | - | €214,250 | +€214,250 | |
| Cash at bank and in hand | 54/58 | €181,048 | €1,307 | -€179,741 | -99.3% |
| Deferred charges and accrued income | 490/1 | €8,323 | €27,180 | +€18,856 | +226.6% |
| Total equity and liabilities | 10/49 | €9,723,462 | €15,966,948 | +€6.2m | +64.2% |
| Equity | 10/15 | €1,039,864 | €268,315 | -€771,548 | -74.2% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,864 | -€731,685 | -€771,548 | |
| Amounts payable | 17/49 | €8,683,598 | €15,698,633 | +€7.0m | +80.8% |
| Amounts payable after more than one year | 17 | - | €4,963 | +€4,963 | |
| Other amounts payable | 178/9 | - | €4,963 | +€4,963 | |
| Amounts payable within one year | 42/48 | €8,641,177 | €15,655,736 | +€7.0m | +81.2% |
| Financial debts | 43 | €6,230,000 | €13,979,947 | +€7.7m | +124.4% |
| Credit institutions | 430/8 | €6,230,000 | €13,979,947 | +€7.7m | +124.4% |
| Trade debts | 44 | €736,990 | €1,082,984 | +€345,994 | +46.9% |
| Suppliers | 440/4 | €736,990 | €1,082,984 | +€345,994 | +46.9% |
| Taxes, remuneration and social security | 45 | €14,511 | €0 | -€14,511 | -100.0% |
| Taxes | 450/3 | €14,511 | €0 | -€14,511 | -100.0% |
| Other amounts payable | 47/48 | €1,659,677 | €592,804 | -€1.1m | -64.3% |
| Accrued charges and deferred income | 492/3 | €42,421 | €37,935 | -€4,486 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,169 | +€6,169 | |
| Other operating charges | 640/8 | €22,232 | €487,792 | +€465,560 | +2094.1% |
| Gross operating margin | 9900 | €79,234 | -€260,473 | -€339,707 | |
| Operating profit (loss) | 9901 | €57,001 | -€754,434 | -€811,436 | |
| Financial charges | 65/66B | €2,626 | €17,114 | +€14,488 | +551.6% |
| Recurring financial charges | 65 | €2,626 | €17,114 | +€14,488 | +551.6% |
| Profit (loss) for the period before taxes | 9903 | €54,375 | -€771,548 | -€825,923 | |
| Income taxes | 67/77 | €14,511 | €0 | -€14,511 | -100.0% |
| Profit (loss) for the period | 9904 | €39,864 | -€771,548 | -€811,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,864 | -€771,548 | -€811,412 |
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 2 October 2026 via checked.be.