FIX: 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.
FIX
Largest movements
- Financial fixed assets +€150,538
new in 2025: €150,538
- Tangible fixed assets +€58,689
up €58,689 (+892.0%), from €6,580 to €65,269
of which Furniture and vehicles: +€60,893
- Cash -€5,039
down €5,039 (-47.6%), from €10,581 to €5,543
mainly Investment in fixed assets (net) (-€223,075) and Contributions, distributions and other (-€14,118)
- Debts after one year +€146,074
new in 2025: €146,074
- Current portion of long-term debt +€29,376
new in 2025: €29,376
- Reserves +€23,507
up €23,507 (+29.0%), from €81,000 to €104,508
- Trade debts +€4,351
up €4,351 (+799.9%), from €544 to €4,895
- Gross operating margin +€26,629
up €26,629 (+65.0%), from €40,981 to €67,610
- Depreciation +€12,383
up €12,383 (+845.2%), from €1,465 to €13,848
- Taxes +€5,068
up €5,068 (+65.7%), from €7,713 to €12,781
- Financial charges +€1,364
up €1,364 (+97.4%), from €1,401 to €2,765
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 | €98,004 | €303,258 | +€205,255 | +209.4% |
| Fixed assets | 21/28 | €6,580 | €215,807 | +€209,227 | +3179.8% |
| Tangible fixed assets | 22/27 | €6,580 | €65,269 | +€58,689 | +892.0% |
| Plant, machinery and equipment | 23 | €1,576 | €0 | -€1,576 | -100.0% |
| Furniture and vehicles | 24 | €174 | €61,067 | +€60,893 | +34925.7% |
| Other tangible fixed assets | 26 | €4,830 | €4,202 | -€628 | -13.0% |
| Financial fixed assets | 28 | - | €150,538 | +€150,538 | |
| Current assets | 29/58 | €91,424 | €87,452 | -€3,972 | -4.3% |
| Amounts receivable within one year | 40/41 | €80,242 | €81,309 | +€1,067 | +1.3% |
| Trade receivables | 40 | €24,200 | €22,841 | -€1,359 | -5.6% |
| Other amounts receivable | 41 | €56,042 | €58,468 | +€2,426 | +4.3% |
| Cash at bank and in hand | 54/58 | €10,581 | €5,543 | -€5,039 | -47.6% |
| Deferred charges and accrued income | 490/1 | €600 | €600 | = | 0.0% |
| Total equity and liabilities | 10/49 | €98,004 | €303,258 | +€205,255 | +209.4% |
| Equity | 10/15 | €83,000 | €106,508 | +€23,507 | +28.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €81,000 | €104,508 | +€23,507 | +29.0% |
| Distributable reserves | 133 | €81,000 | €104,508 | +€23,507 | +29.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,003 | €196,751 | +€181,748 | +1211.4% |
| Amounts payable after more than one year | 17 | - | €146,074 | +€146,074 | |
| Financial debts | 170/4 | - | €146,074 | +€146,074 | |
| Amounts payable within one year | 42/48 | €15,003 | €50,677 | +€35,673 | +237.8% |
| Current portion of amounts payable after more than one year | 42 | - | €29,376 | +€29,376 | |
| Financial debts | 43 | €3,398 | €2,531 | -€866 | -25.5% |
| Credit institutions | 430/8 | €3,398 | €2,531 | -€866 | -25.5% |
| Trade debts | 44 | €544 | €4,895 | +€4,351 | +799.9% |
| Suppliers | 440/4 | €544 | €4,895 | +€4,351 | +799.9% |
| Taxes, remuneration and social security | 45 | €10,421 | €12,078 | +€1,657 | +15.9% |
| Taxes | 450/3 | €10,421 | €12,078 | +€1,657 | +15.9% |
| Other amounts payable | 47/48 | €641 | €1,796 | +€1,155 | +180.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €17,942 | +€17,942 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,465 | €13,848 | +€12,383 | +845.2% |
| Other operating charges | 640/8 | €550 | €591 | +€41 | +7.4% |
| Gross operating margin | 9900 | €40,981 | €67,610 | +€26,629 | +65.0% |
| Operating profit (loss) | 9901 | €38,966 | €53,171 | +€14,205 | +36.5% |
| Financial charges | 65/66B | €1,401 | €2,765 | +€1,364 | +97.4% |
| Recurring financial charges | 65 | €1,401 | €2,765 | +€1,364 | +97.4% |
| Profit (loss) for the period before taxes | 9903 | €37,565 | €50,406 | +€12,841 | +34.2% |
| Income taxes | 67/77 | €7,713 | €12,781 | +€5,068 | +65.7% |
| Profit (loss) for the period | 9904 | €29,852 | €37,625 | +€7,773 | +26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,852 | €37,625 | +€7,773 | +26.0% |
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 10 October 2026 via checked.be.