FOR CON ONLY: 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.
FOR CON ONLY
Largest movements
- Current investments -€780,000
down €780,000 (-74.3%), from €1.1m to €270,000
- Receivables after one year +€770,000
up €770,000 (+192.5%), from €400,000 to €1.2m
- Cash -€421,482
down €421,482 (-86.0%), from €490,006 to €68,524
mainly Receivables after one year (-€770,000) and Receivables within one year (-€197,030)
- Receivables within one year +€197,030
up €197,030 (+2346.2%), from €8,398 to €205,427
- Tangible fixed assets +€144,576
up €144,576 (+241.9%), from €59,778 to €204,354
of which Other tangible fixed assets: +€144,160
- Reserves -€79,324
down €79,324 (-2.4%), from €3.3m to €3.2m
of which Distributable reserves: -€79,324
- Financial income +€11,029
up €11,029 (+24.8%), from €44,445 to €55,474
- Depreciation +€3,044
up €3,044 (+16.2%), from €18,833 to €21,878
- Gross operating margin +€1,322
up €1,322 (+1.2%), from -€111,296 to -€109,974
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 | €3,312,439 | €3,220,769 | -€91,670 | -2.8% |
| Fixed assets | 21/28 | €1,362,198 | €1,505,574 | +€143,376 | +10.5% |
| Intangible fixed assets | 21 | €2,420 | €1,220 | -€1,200 | -49.6% |
| Tangible fixed assets | 22/27 | €59,778 | €204,354 | +€144,576 | +241.9% |
| Land and buildings | 22 | €4,449 | €12,944 | +€8,495 | +191.0% |
| Plant, machinery and equipment | 23 | €69 | €0 | -€69 | -100.0% |
| Furniture and vehicles | 24 | €55,260 | €47,250 | -€8,011 | -14.5% |
| Other tangible fixed assets | 26 | - | €144,160 | +€144,160 | |
| Financial fixed assets | 28 | €1,300,000 | €1,300,000 | = | 0.0% |
| Current assets | 29/58 | €1,950,241 | €1,715,195 | -€235,046 | -12.1% |
| Amounts receivable after more than one year | 29 | €400,000 | €1,170,000 | +€770,000 | +192.5% |
| Other amounts receivable | 291 | €400,000 | €1,170,000 | +€770,000 | +192.5% |
| Amounts receivable within one year | 40/41 | €8,398 | €205,427 | +€197,030 | +2346.2% |
| Other amounts receivable | 41 | €8,398 | €205,427 | +€197,030 | +2346.2% |
| Current investments | 50/53 | €1,050,000 | €270,000 | -€780,000 | -74.3% |
| Cash at bank and in hand | 54/58 | €490,006 | €68,524 | -€421,482 | -86.0% |
| Deferred charges and accrued income | 490/1 | €1,837 | €1,243 | -€593 | -32.3% |
| Total equity and liabilities | 10/49 | €3,312,439 | €3,220,769 | -€91,670 | -2.8% |
| Equity | 10/15 | €3,295,684 | €3,216,360 | -€79,324 | -2.4% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Reserves | 13 | €3,261,684 | €3,182,360 | -€79,324 | -2.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,261,684 | €3,182,360 | -€79,324 | -2.4% |
| Amounts payable | 17/49 | €16,755 | €4,409 | -€12,346 | -73.7% |
| Amounts payable within one year | 42/48 | €16,755 | €4,409 | -€12,346 | -73.7% |
| Financial debts | 43 | €335 | €0 | -€335 | -100.0% |
| Credit institutions | 430/8 | €335 | €0 | -€335 | -100.0% |
| Trade debts | 44 | €672 | €512 | -€160 | -23.8% |
| Suppliers | 440/4 | €672 | €512 | -€160 | -23.8% |
| Taxes, remuneration and social security | 45 | €2,188 | €1,690 | -€498 | -22.8% |
| Taxes | 450/3 | €2,188 | €1,690 | -€498 | -22.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €13,560 | €2,207 | -€11,353 | -83.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,833 | €21,878 | +€3,044 | +16.2% |
| Other operating charges | 640/8 | €654 | €1,623 | +€969 | +148.0% |
| Gross operating margin | 9900 | -€111,296 | -€109,974 | +€1,322 | +1.2% |
| Operating profit (loss) | 9901 | -€130,784 | -€133,475 | -€2,691 | -2.1% |
| Financial income | 75/76B | €44,445 | €55,474 | +€11,029 | +24.8% |
| Recurring financial income | 75 | €44,445 | €55,474 | +€11,029 | +24.8% |
| Financial charges | 65/66B | €668 | €887 | +€219 | +32.7% |
| Recurring financial charges | 65 | €668 | €887 | +€219 | +32.7% |
| Profit (loss) for the period before taxes | 9903 | -€87,008 | -€78,888 | +€8,120 | +9.3% |
| Income taxes | 67/77 | €498 | €436 | -€62 | -12.5% |
| Profit (loss) for the period | 9904 | -€87,506 | -€79,324 | +€8,182 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,506 | -€79,324 | +€8,182 | +9.4% |
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 11 October 2026 via checked.be.