FIN MANAGEMENT: 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.
FIN MANAGEMENT
Largest movements
- Cash -€31,343
down €31,343 (-28.6%), from €109,602 to €78,260
mainly Contributions, distributions and other (-€77,394) and Deferred charges and accrued income (-€4,891)
- Tangible fixed assets -€23,930
down €23,930 (-46.6%), from €51,388 to €27,458
of which Furniture and vehicles: -€22,192
- Receivables within one year -€8,572
down €8,572 (-5.7%), from €151,202 to €142,629
of which Trade receivables: -€5,131
- Reserves -€59,515
down €59,515 (-12.6%), from €471,863 to €412,348
of which Distributable reserves: -€59,515
- Gross operating margin -€70,174
down €70,174 (-64.6%), from €108,601 to €38,427
- Taxes -€16,908
down €16,908 (-66.2%), from €25,524 to €8,615
- Financial income -€2,274
down €2,274 (-14.6%), from €15,529 to €13,255
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 | €553,677 | €494,130 | -€59,547 | -10.8% |
| Fixed assets | 21/28 | €51,388 | €27,458 | -€23,930 | -46.6% |
| Tangible fixed assets | 22/27 | €51,388 | €27,458 | -€23,930 | -46.6% |
| Furniture and vehicles | 24 | €39,222 | €17,030 | -€22,192 | -56.6% |
| Other tangible fixed assets | 26 | €12,166 | €10,428 | -€1,738 | -14.3% |
| Current assets | 29/58 | €502,288 | €466,671 | -€35,617 | -7.1% |
| Amounts receivable after more than one year | 29 | €195,000 | €195,000 | = | 0.0% |
| Other amounts receivable | 291 | €195,000 | €195,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €151,202 | €142,629 | -€8,572 | -5.7% |
| Trade receivables | 40 | €35,582 | €30,452 | -€5,131 | -14.4% |
| Other amounts receivable | 41 | €115,620 | €112,178 | -€3,442 | -3.0% |
| Current investments | 50/53 | €37,718 | €37,125 | -€593 | -1.6% |
| Cash at bank and in hand | 54/58 | €109,602 | €78,260 | -€31,343 | -28.6% |
| Deferred charges and accrued income | 490/1 | €8,766 | €13,657 | +€4,891 | +55.8% |
| Total equity and liabilities | 10/49 | €553,677 | €494,130 | -€59,547 | -10.8% |
| Equity | 10/15 | €533,363 | €473,848 | -€59,515 | -11.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €471,863 | €412,348 | -€59,515 | -12.6% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €465,713 | €406,198 | -€59,515 | -12.8% |
| Amounts payable | 17/49 | €20,313 | €20,282 | -€32 | -0.2% |
| Amounts payable within one year | 42/48 | €16,939 | €19,127 | +€2,188 | +12.9% |
| Trade debts | 44 | €5,851 | €7,878 | +€2,026 | +34.6% |
| Suppliers | 440/4 | €5,851 | €7,878 | +€2,026 | +34.6% |
| Taxes, remuneration and social security | 45 | €11,088 | €11,250 | +€162 | +1.5% |
| Taxes | 450/3 | €11,088 | €11,250 | +€162 | +1.5% |
| Accrued charges and deferred income | 492/3 | €3,374 | €1,154 | -€2,219 | -65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,092 | €23,930 | -€162 | -0.7% |
| Other operating charges | 640/8 | €1,116 | €1,158 | +€42 | +3.8% |
| Gross operating margin | 9900 | €108,601 | €38,427 | -€70,174 | -64.6% |
| Operating profit (loss) | 9901 | €83,392 | €13,339 | -€70,054 | -84.0% |
| Financial income | 75/76B | €15,529 | €13,255 | -€2,274 | -14.6% |
| Recurring financial income | 75 | €15,529 | €13,255 | -€2,274 | -14.6% |
| Financial charges | 65/66B | €123 | €101 | -€22 | -18.2% |
| Recurring financial charges | 65 | €123 | €101 | -€22 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €98,798 | €26,494 | -€72,305 | -73.2% |
| Income taxes | 67/77 | €25,524 | €8,615 | -€16,908 | -66.2% |
| Profit (loss) for the period | 9904 | €73,275 | €17,878 | -€55,396 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,275 | €17,878 | -€55,396 | -75.6% |
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 17 October 2026 via checked.be.