F-328 - PC: 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.
F-328 - PC
Largest movements
- Current investments +€71,345
up €71,345 (+5.2%), from €1.4m to €1.4m
- Deferred charges and accrued income -€42,686
down €42,686 (-77.7%), from €54,950 to €12,264
- Stocks and contracts +€22,500
up €22,500 (+10.3%), from €217,748 to €240,248
- Reserves +€156,289
up €156,289 (+9.7%), from €1.6m to €1.8m
of which Distributable reserves: +€156,289
- Other debts -€72,281
down €72,281 (-61.7%), from €117,145 to €44,864
- Current portion of long-term debt -€46,232
down €46,232 (-36.0%), from €128,293 to €82,061
- Tax, wage and social debts +€27,212
new in 2025: €27,212
- Accrued charges and deferred income -€25,635
no longer reported in 2025 (was €25,635)
- Gross operating margin +€53,784
up €53,784 (+50.3%), from €106,848 to €160,632
- Write-downs -€34,500
down €34,500, from €12,000 to -€22,500
- Taxes +€26,425
up €26,425 (+96.6%), from €27,350 to €53,775
- Other operating charges -€10,685
down €10,685 (-62.4%), from €17,137 to €6,452
- Depreciation -€4,412
down €4,412 (-17.9%), from €24,583 to €20,171
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 | €1,911,119 | €1,956,023 | +€44,904 | +2.3% |
| Fixed assets | 21/28 | €179,596 | €172,108 | -€7,488 | -4.2% |
| Tangible fixed assets | 22/27 | €179,145 | €171,657 | -€7,488 | -4.2% |
| Land and buildings | 22 | €169,181 | €158,606 | -€10,575 | -6.3% |
| Furniture and vehicles | 24 | €9,964 | €13,051 | +€3,087 | +31.0% |
| Financial fixed assets | 28 | €451 | €451 | = | 0.0% |
| Current assets | 29/58 | €1,731,523 | €1,783,915 | +€52,392 | +3.0% |
| Stocks and contracts in progress | 3 | €217,748 | €240,248 | +€22,500 | +10.3% |
| Stocks | 30/36 | €217,748 | €240,248 | +€22,500 | +10.3% |
| Amounts receivable within one year | 40/41 | €85,947 | €84,122 | -€1,825 | -2.1% |
| Trade receivables | 40 | €40,002 | €42,616 | +€2,614 | +6.5% |
| Other amounts receivable | 41 | €45,945 | €41,506 | -€4,439 | -9.7% |
| Current investments | 50/53 | €1,370,355 | €1,441,700 | +€71,345 | +5.2% |
| Cash at bank and in hand | 54/58 | €2,523 | €5,581 | +€3,058 | +121.2% |
| Deferred charges and accrued income | 490/1 | €54,950 | €12,264 | -€42,686 | -77.7% |
| Total equity and liabilities | 10/49 | €1,911,119 | €1,956,023 | +€44,904 | +2.3% |
| Equity | 10/15 | €1,629,012 | €1,785,301 | +€156,289 | +9.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,610,420 | €1,766,709 | +€156,289 | +9.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,608,561 | €1,764,850 | +€156,289 | +9.7% |
| Amounts payable | 17/49 | €282,107 | €170,722 | -€111,385 | -39.5% |
| Amounts payable within one year | 42/48 | €256,472 | €170,722 | -€85,750 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €128,293 | €82,061 | -€46,232 | -36.0% |
| Trade debts | 44 | €11,034 | €16,585 | +€5,551 | +50.3% |
| Suppliers | 440/4 | €11,034 | €16,585 | +€5,551 | +50.3% |
| Taxes, remuneration and social security | 45 | - | €27,212 | +€27,212 | |
| Taxes | 450/3 | - | €27,212 | +€27,212 | |
| Other amounts payable | 47/48 | €117,145 | €44,864 | -€72,281 | -61.7% |
| Accrued charges and deferred income | 492/3 | €25,635 | - | -€25,635 | |
| Remuneration, social security and pensions | 62 | €900 | - | -€900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,583 | €20,171 | -€4,412 | -17.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,000 | -€22,500 | -€34,500 | |
| Other operating charges | 640/8 | €17,137 | €6,452 | -€10,685 | -62.4% |
| Gross operating margin | 9900 | €106,848 | €160,632 | +€53,784 | +50.3% |
| Operating profit (loss) | 9901 | €52,228 | €156,509 | +€104,281 | +199.7% |
| Financial income | 75/76B | €52,642 | €56,052 | +€3,410 | +6.5% |
| Recurring financial income | 75 | €52,642 | €56,052 | +€3,410 | +6.5% |
| Financial charges | 65/66B | €3,761 | €2,497 | -€1,264 | -33.6% |
| Recurring financial charges | 65 | €3,761 | €2,497 | -€1,264 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €101,109 | €210,064 | +€108,955 | +107.8% |
| Income taxes | 67/77 | €27,350 | €53,775 | +€26,425 | +96.6% |
| Profit (loss) for the period | 9904 | €73,759 | €156,289 | +€82,530 | +111.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,759 | €156,289 | +€82,530 | +111.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.