Façade: 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.
Façade
Largest movements
- Current investments +€14.0m
new in 2025: €14.0m
- Financial fixed assets -€5.0m
no longer reported in 2025 (was €5.0m)
- Cash +€380,896
up €380,896 (+1068.7%), from €35,642 to €416,538
mainly Net result for the year (+€10.2m) and Investment in fixed assets (net) (+€5.0m)
- Reserves +€10.2m
up €10.2m (+422.0%), from €2.4m to €12.6m
- Debts after one year -€1.5m
no longer reported in 2025 (was €1.5m)
- Tax, wage and social debts +€1.0m
up €1.0m (+8289.7%), from €12,370 to €1.0m
- Current portion of long-term debt -€331,023
no longer reported in 2025 (was €331,023)
- Financial income +€10.7m
up €10.7m (+1641.6%), from €652,000 to €11.4m
- Taxes +€1.0m
new in 2025: €1.0m
- Financial charges +€23,737
up €23,737 (+24.6%), from €96,406 to €120,143
- Gross operating margin +€288
up €288 (+5.8%), from -€4,983 to -€4,695
- Other operating charges -€115
down €115 (-22.9%), from €502 to €387
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 | €5,015,904 | €14,414,636 | +€9.4m | +187.4% |
| Fixed assets | 21/28 | €4,980,033 | - | -€5.0m | |
| Financial fixed assets | 28 | €4,980,033 | - | -€5.0m | |
| Current assets | 29/58 | €35,872 | €14,414,636 | +€14.4m | +40084.0% |
| Current investments | 50/53 | - | €13,998,099 | +€14.0m | |
| Cash at bank and in hand | 54/58 | €35,642 | €416,538 | +€380,896 | +1068.7% |
| Deferred charges and accrued income | 490/1 | €230 | - | -€230 | |
| Total equity and liabilities | 10/49 | €5,015,904 | €14,414,636 | +€9.4m | +187.4% |
| Equity | 10/15 | €2,429,933 | €12,638,876 | +€10.2m | +420.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €2,420,000 | €12,631,376 | +€10.2m | +422.0% |
| Distributable reserves | 133 | €2,420,000 | €12,631,376 | +€10.2m | +422.0% |
| Profit (loss) carried forward | 14 | €2,433 | - | -€2,433 | |
| Amounts payable | 17/49 | €2,585,971 | €1,775,760 | -€810,211 | -31.3% |
| Amounts payable after more than one year | 17 | €1,510,716 | - | -€1.5m | |
| Financial debts | 170/4 | €1,510,716 | - | -€1.5m | |
| Amounts payable within one year | 42/48 | €1,075,255 | €1,775,760 | +€700,505 | +65.1% |
| Current portion of amounts payable after more than one year | 42 | €331,023 | - | -€331,023 | |
| Taxes, remuneration and social security | 45 | €12,370 | €1,037,765 | +€1.0m | +8289.7% |
| Taxes | 450/3 | €12,370 | €1,037,765 | +€1.0m | +8289.7% |
| Other amounts payable | 47/48 | €731,862 | €737,995 | +€6,132 | +0.8% |
| Other operating charges | 640/8 | €502 | €387 | -€115 | -22.9% |
| Gross operating margin | 9900 | -€4,983 | -€4,695 | +€288 | +5.8% |
| Operating profit (loss) | 9901 | -€5,485 | -€5,082 | +€403 | +7.3% |
| Financial income | 75/76B | €652,000 | €11,355,063 | +€10.7m | +1641.6% |
| Recurring financial income | 75 | €652,000 | €11,355,063 | +€10.7m | +1641.6% |
| Financial charges | 65/66B | €96,406 | €120,143 | +€23,737 | +24.6% |
| Recurring financial charges | 65 | €96,406 | €120,143 | +€23,737 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €550,109 | €11,229,838 | +€10.7m | +1941.4% |
| Income taxes | 67/77 | - | €1,020,894 | +€1.0m | |
| Profit (loss) for the period | 9904 | €550,109 | €10,208,943 | +€9.7m | +1755.8% |
| Profit (loss) for the period to be appropriated | 9905 | €550,109 | €10,208,943 | +€9.7m | +1755.8% |
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 3 October 2026 via checked.be.