FIRST POINT: 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.
FIRST POINT
Largest movements
- Cash +€39,290
up €39,290 (+153%), from €25,700 to €64,990
mainly Depreciation (+€27,618) and Net result for the year (+€12,826)
- Tangible fixed assets -€27,618
down €27,618 (-13.8%), from €199,841 to €172,223
of which Land and buildings: -€18,524
- Receivables within one year -€6,726
down €6,726 (-20.2%), from €33,283 to €26,557
of which Trade receivables: -€8,300
- Reserves +€12,826
up €12,826 (+6.0%), from €212,381 to €225,207
of which Distributable reserves: +€12,826
- Current portion of long-term debt -€10,303
down €10,303 (-100%), from €10,303 to €0
- Gross operating margin -€12,614
down €12,614 (-19.3%), from €65,438 to €52,824
- Taxes -€3,574
down €3,574 (-31.7%), from €11,285 to €7,711
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 | €262,895 | €265,843 | +€2,948 | +1.1% |
| Fixed assets | 21/28 | €199,841 | €172,223 | -€27,618 | -13.8% |
| Tangible fixed assets | 22/27 | €199,841 | €172,223 | -€27,618 | -13.8% |
| Land and buildings | 22 | €190,747 | €172,223 | -€18,524 | -9.7% |
| Furniture and vehicles | 24 | €9,094 | €0 | -€9,094 | -100% |
| Current assets | 29/58 | €63,054 | €93,621 | +€30,566 | +48.5% |
| Amounts receivable within one year | 40/41 | €33,283 | €26,557 | -€6,726 | -20.2% |
| Trade receivables | 40 | €31,568 | €23,268 | -€8,300 | -26.3% |
| Other amounts receivable | 41 | €1,715 | €3,289 | +€1,574 | +91.8% |
| Cash at bank and in hand | 54/58 | €25,700 | €64,990 | +€39,290 | +153% |
| Deferred charges and accrued income | 490/1 | €4,072 | €2,074 | -€1,998 | -49.1% |
| Total equity and liabilities | 10/49 | €262,895 | €265,843 | +€2,948 | +1.1% |
| Equity | 10/15 | €230,981 | €243,807 | +€12,826 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,381 | €225,207 | +€12,826 | +6.0% |
| Tax-exempt reserves | 132 | €34,500 | €34,500 | = | 0.0% |
| Distributable reserves | 133 | €177,881 | €190,707 | +€12,826 | +7.2% |
| Amounts payable | 17/49 | €31,914 | €22,036 | -€9,877 | -31.0% |
| Amounts payable within one year | 42/48 | €31,914 | €21,637 | -€10,277 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €10,303 | €0 | -€10,303 | -100% |
| Financial debts | 43 | €2,562 | €2,554 | -€8 | -0.3% |
| Credit institutions | 430/8 | €2,562 | €2,554 | -€8 | -0.3% |
| Trade debts | 44 | €3,801 | €5,267 | +€1,466 | +38.6% |
| Suppliers | 440/4 | €3,801 | €5,267 | +€1,466 | +38.6% |
| Taxes, remuneration and social security | 45 | €3,032 | €1,807 | -€1,225 | -40.4% |
| Taxes | 450/3 | €3,032 | €1,807 | -€1,225 | -40.4% |
| Other amounts payable | 47/48 | €12,216 | €12,009 | -€207 | -1.7% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,080 | €27,618 | -€462 | -1.6% |
| Other operating charges | 640/8 | €4,281 | €4,046 | -€234 | -5.5% |
| Gross operating margin | 9900 | €65,438 | €52,824 | -€12,614 | -19.3% |
| Operating profit (loss) | 9901 | €33,078 | €21,160 | -€11,918 | -36.0% |
| Financial income | 75/76B | €0 | €5 | +€4 | +1,460% |
| Recurring financial income | 75 | €0 | €5 | +€4 | +1,460% |
| Financial charges | 65/66B | €652 | €628 | -€24 | -3.7% |
| Recurring financial charges | 65 | €652 | €628 | -€24 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €32,426 | €20,537 | -€11,889 | -36.7% |
| Income taxes | 67/77 | €11,285 | €7,711 | -€3,574 | -31.7% |
| Profit (loss) for the period | 9904 | €21,141 | €12,826 | -€8,315 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,141 | €12,826 | -€8,315 | -39.3% |
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 31 October 2026 via checked.be.