FD: 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.
FD
Largest movements
- Current investments +€250,288
up €250,288 (+143.4%), from €174,596 to €424,885
- Cash -€156,834
down €156,834 (-59.3%), from €264,326 to €107,491
mainly Current investments (-€250,288) and Debts after one year (-€43,277)
- Tangible fixed assets -€41,886
down €41,886 (-5.1%), from €815,739 to €773,853
of which Land and buildings: -€44,185
- Receivables within one year -€21,252
down €21,252 (-48.5%), from €43,861 to €22,609
of which Other amounts receivable: -€18,140
- Reserves +€80,198
up €80,198 (+26.8%), from €299,218 to €379,416
of which Distributable reserves: +€157,198
- Debts after one year -€43,277
down €43,277 (-16.4%), from €264,225 to €220,948
- Gross operating margin +€40,408
up €40,408 (+29.6%), from €136,560 to €176,968
- Taxes +€15,466
up €15,466 (+59.0%), from €26,197 to €41,663
- Financial charges +€7,851
up €7,851 (+634.3%), from €1,238 to €9,089
- Staff costs -€2,124
down €2,124 (-77.8%), from €2,730 to €606
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 | €1,461,022 | €1,491,338 | +€30,316 | +2.1% |
| Fixed assets | 21/28 | €978,239 | €936,353 | -€41,886 | -4.3% |
| Tangible fixed assets | 22/27 | €815,739 | €773,853 | -€41,886 | -5.1% |
| Land and buildings | 22 | €815,739 | €771,553 | -€44,185 | -5.4% |
| Plant, machinery and equipment | 23 | - | €2,300 | +€2,300 | |
| Financial fixed assets | 28 | €162,500 | €162,500 | = | 0.0% |
| Current assets | 29/58 | €482,783 | €554,986 | +€72,202 | +15.0% |
| Amounts receivable within one year | 40/41 | €43,861 | €22,609 | -€21,252 | -48.5% |
| Trade receivables | 40 | €25,721 | €22,609 | -€3,112 | -12.1% |
| Other amounts receivable | 41 | €18,140 | €0 | -€18,140 | -100.0% |
| Current investments | 50/53 | €174,596 | €424,885 | +€250,288 | +143.4% |
| Cash at bank and in hand | 54/58 | €264,326 | €107,491 | -€156,834 | -59.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,461,022 | €1,491,338 | +€30,316 | +2.1% |
| Equity | 10/15 | €1,049,645 | €1,129,844 | +€80,198 | +7.6% |
| Contributions | 10/11 | €770,000 | €770,000 | = | 0.0% |
| Reserves | 13 | €299,218 | €379,416 | +€80,198 | +26.8% |
| Non-distributable reserves | 130/1 | €77,000 | €0 | -€77,000 | -100.0% |
| Reserves not available under the articles | 1311 | €77,000 | €0 | -€77,000 | -100.0% |
| Distributable reserves | 133 | €222,218 | €379,416 | +€157,198 | +70.7% |
| Profit (loss) carried forward | 14 | -€19,573 | -€19,573 | = | 0.0% |
| Amounts payable | 17/49 | €411,376 | €361,495 | -€49,882 | -12.1% |
| Amounts payable after more than one year | 17 | €264,225 | €220,948 | -€43,277 | -16.4% |
| Financial debts | 170/4 | €264,225 | €220,948 | -€43,277 | -16.4% |
| Amounts payable within one year | 42/48 | €139,276 | €137,254 | -€2,022 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €49,809 | €43,277 | -€6,532 | -13.1% |
| Trade debts | 44 | €1,782 | €2,693 | +€911 | +51.1% |
| Suppliers | 440/4 | €1,782 | €2,693 | +€911 | +51.1% |
| Taxes, remuneration and social security | 45 | €23,227 | €26,865 | +€3,638 | +15.7% |
| Taxes | 450/3 | €23,227 | €26,865 | +€3,638 | +15.7% |
| Other amounts payable | 47/48 | €64,458 | €64,419 | -€39 | -0.1% |
| Accrued charges and deferred income | 492/3 | €7,875 | €3,292 | -€4,583 | -58.2% |
| Remuneration, social security and pensions | 62 | €2,730 | €606 | -€2,124 | -77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,916 | €44,409 | -€507 | -1.1% |
| Other operating charges | 640/8 | €5,954 | €7,281 | +€1,327 | +22.3% |
| Gross operating margin | 9900 | €136,560 | €176,968 | +€40,408 | +29.6% |
| Operating profit (loss) | 9901 | €82,959 | €124,671 | +€41,712 | +50.3% |
| Financial income | 75/76B | €5,049 | €6,278 | +€1,229 | +24.3% |
| Recurring financial income | 75 | €5,049 | €6,278 | +€1,229 | +24.3% |
| Financial charges | 65/66B | €1,238 | €9,089 | +€7,851 | +634.3% |
| Recurring financial charges | 65 | €1,238 | €9,089 | +€7,851 | +634.3% |
| Profit (loss) for the period before taxes | 9903 | €86,771 | €121,861 | +€35,090 | +40.4% |
| Income taxes | 67/77 | €26,197 | €41,663 | +€15,466 | +59.0% |
| Profit (loss) for the period | 9904 | €60,574 | €80,198 | +€19,624 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €60,574 | €80,198 | +€19,624 | +32.4% |
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 5 October 2026 via checked.be.