EXPLORING DESTINIES: 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.
EXPLORING DESTINIES
Largest movements
- Tangible fixed assets -€17,167
down €17,167 (-18.3%), from €94,027 to €76,859
of which Furniture and vehicles: -€15,097
- Cash +€15,954
up €15,954 (+15.0%), from €106,487 to €122,441
mainly Other debts (+€81,688) and Advances received (+€63,786)
- Receivables within one year -€8,848
down €8,848 (-7.5%), from €117,929 to €109,081
of which Other amounts receivable: -€10,243
- Reserves -€109,559
down €109,559 (-55.4%), from €197,800 to €88,241
of which Distributable reserves: -€90,000
- Other debts +€81,688
up €81,688 (+170%), from €47,979 to €129,667
- Advances received +€63,786
up €63,786 (+55.0%), from €116,059 to €179,845
- Trade debts -€26,364
down €26,364 (-94.5%), from €27,903 to €1,540
- Debts after one year -€18,641
down €18,641 (-43.4%), from €42,983 to €24,341
- Taxes +€5,224
up €5,224 (+1,583%), from €330 to €5,553
- Financial charges +€4,323
up €4,323 (+112%), from €3,872 to €8,195
- Gross operating margin -€3,844
down €3,844 (-25.9%), from €14,864 to €11,020
- Depreciation +€2,094
up €2,094 (+13.2%), from €15,845 to €17,939
- Financial income -€1,739
down €1,739 (-44.2%), from €3,939 to €2,200
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 | €482,160 | €472,938 | -€9,222 | -1.9% |
| Fixed assets | 21/28 | €111,488 | €93,550 | -€17,939 | -16.1% |
| Intangible fixed assets | 21 | €17,462 | €16,690 | -€772 | -4.4% |
| Tangible fixed assets | 22/27 | €94,027 | €76,859 | -€17,167 | -18.3% |
| Plant, machinery and equipment | 23 | €4,463 | €3,481 | -€982 | -22.0% |
| Furniture and vehicles | 24 | €63,042 | €47,945 | -€15,097 | -23.9% |
| Other tangible fixed assets | 26 | €26,521 | €25,434 | -€1,087 | -4.1% |
| Current assets | 29/58 | €370,671 | €379,388 | +€8,716 | +2.4% |
| Amounts receivable within one year | 40/41 | €117,929 | €109,081 | -€8,848 | -7.5% |
| Trade receivables | 40 | €12,935 | €14,330 | +€1,395 | +10.8% |
| Other amounts receivable | 41 | €104,994 | €94,751 | -€10,243 | -9.8% |
| Current investments | 50/53 | €133,586 | €134,628 | +€1,043 | +0.8% |
| Cash at bank and in hand | 54/58 | €106,487 | €122,441 | +€15,954 | +15.0% |
| Deferred charges and accrued income | 490/1 | €12,670 | €13,238 | +€567 | +4.5% |
| Total equity and liabilities | 10/49 | €482,160 | €472,938 | -€9,222 | -1.9% |
| Equity | 10/15 | €222,800 | €113,241 | -€109,559 | -49.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €197,800 | €88,241 | -€109,559 | -55.4% |
| Non-distributable reserves | 130/1 | - | €7,767 | +€7,767 | |
| Other | 1319 | - | €7,767 | +€7,767 | |
| Tax-exempt reserves | 132 | €27,326 | - | -€27,326 | |
| Distributable reserves | 133 | €170,474 | €80,474 | -€90,000 | -52.8% |
| Amounts payable | 17/49 | €259,360 | €359,696 | +€100,337 | +38.7% |
| Amounts payable after more than one year | 17 | €42,983 | €24,341 | -€18,641 | -43.4% |
| Financial debts | 170/4 | €42,983 | €24,341 | -€18,641 | -43.4% |
| Amounts payable within one year | 42/48 | €216,161 | €333,161 | +€116,999 | +54.1% |
| Current portion of amounts payable after more than one year | 42 | €23,769 | €18,641 | -€5,128 | -21.6% |
| Trade debts | 44 | €27,903 | €1,540 | -€26,364 | -94.5% |
| Suppliers | 440/4 | €27,903 | €1,540 | -€26,364 | -94.5% |
| Advances received on contracts in progress | 46 | €116,059 | €179,845 | +€63,786 | +55.0% |
| Taxes, remuneration and social security | 45 | €450 | €3,468 | +€3,018 | +671% |
| Taxes | 450/3 | €450 | €3,468 | +€3,018 | +671% |
| Other amounts payable | 47/48 | €47,979 | €129,667 | +€81,688 | +170% |
| Accrued charges and deferred income | 492/3 | €215 | €2,194 | +€1,979 | +918% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,845 | €17,939 | +€2,094 | +13.2% |
| Other operating charges | 640/8 | €952 | €1,092 | +€140 | +14.8% |
| Gross operating margin | 9900 | €14,864 | €11,020 | -€3,844 | -25.9% |
| Operating profit (loss) | 9901 | -€1,933 | -€8,011 | -€6,078 | -314% |
| Financial income | 75/76B | €3,939 | €2,200 | -€1,739 | -44.2% |
| Recurring financial income | 75 | €3,939 | €2,200 | -€1,739 | -44.2% |
| Financial charges | 65/66B | €3,872 | €8,195 | +€4,323 | +112% |
| Recurring financial charges | 65 | €3,872 | €8,195 | +€4,323 | +112% |
| Profit (loss) for the period before taxes | 9903 | -€1,866 | -€14,006 | -€12,140 | -651% |
| Income taxes | 67/77 | €330 | €5,553 | +€5,224 | +1,583% |
| Profit (loss) for the period | 9904 | -€2,196 | -€19,559 | -€17,363 | -791% |
| Transfer from tax-exempt reserves | 789 | - | €27,326 | +€27,326 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,196 | €7,767 | +€9,963 |
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.