FORUM: 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.
FORUM
Largest movements
- Cash -€71,838
down €71,838 (-62.3%), from €115,231 to €43,393
mainly Receivables within one year (-€57,135) and Contributions, distributions and other (-€49,900)
- Receivables within one year +€57,135
up €57,135 (+132.7%), from €43,042 to €100,177
of which Other amounts receivable: +€74,261
- Tangible fixed assets -€25,003
down €25,003 (-5.2%), from €484,249 to €459,246
of which Furniture and vehicles: -€12,632
- Current investments +€25,000
up €25,000 (+26.3%), from €95,000 to €120,000
- Reserves +€32,500
up €32,500 (+5.7%), from €566,459 to €598,959
- Debts after one year -€25,770
down €25,770 (-28.7%), from €89,665 to €63,895
- Other debts -€19,216
down €19,216 (-74.4%), from €25,831 to €6,615
- Current portion of long-term debt -€10,492
down €10,492 (-28.9%), from €36,262 to €25,770
- Trade debts +€7,955
up €7,955 (+438.0%), from €1,816 to €9,772
- Gross operating margin +€2,299
up €2,299 (+1.7%), from €135,442 to €137,741
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 | €738,878 | €723,882 | -€14,996 | -2.0% |
| Fixed assets | 21/28 | €484,249 | €459,246 | -€25,003 | -5.2% |
| Tangible fixed assets | 22/27 | €484,249 | €459,246 | -€25,003 | -5.2% |
| Land and buildings | 22 | €458,575 | €446,965 | -€11,611 | -2.5% |
| Plant, machinery and equipment | 23 | €4,563 | €3,803 | -€761 | -16.7% |
| Furniture and vehicles | 24 | €21,111 | €8,479 | -€12,632 | -59.8% |
| Current assets | 29/58 | €254,629 | €264,636 | +€10,007 | +3.9% |
| Amounts receivable within one year | 40/41 | €43,042 | €100,177 | +€57,135 | +132.7% |
| Trade receivables | 40 | €41,634 | €24,508 | -€17,125 | -41.1% |
| Other amounts receivable | 41 | €1,408 | €75,669 | +€74,261 | +5274.2% |
| Current investments | 50/53 | €95,000 | €120,000 | +€25,000 | +26.3% |
| Cash at bank and in hand | 54/58 | €115,231 | €43,393 | -€71,838 | -62.3% |
| Deferred charges and accrued income | 490/1 | €1,356 | €1,066 | -€290 | -21.4% |
| Total equity and liabilities | 10/49 | €738,878 | €723,882 | -€14,996 | -2.0% |
| Equity | 10/15 | €573,145 | €605,743 | +€32,598 | +5.7% |
| Contributions | 10/11 | €6,321 | €6,321 | = | 0.0% |
| Reserves | 13 | €566,459 | €598,959 | +€32,500 | +5.7% |
| Distributable reserves | 133 | €566,459 | €598,959 | +€32,500 | +5.7% |
| Profit (loss) carried forward | 14 | €365 | €462 | +€98 | +26.8% |
| Amounts payable | 17/49 | €165,733 | €118,140 | -€47,594 | -28.7% |
| Amounts payable after more than one year | 17 | €89,665 | €63,895 | -€25,770 | -28.7% |
| Financial debts | 170/4 | €89,665 | €63,895 | -€25,770 | -28.7% |
| Amounts payable within one year | 42/48 | €75,515 | €53,165 | -€22,350 | -29.6% |
| Current portion of amounts payable after more than one year | 42 | €36,262 | €25,770 | -€10,492 | -28.9% |
| Trade debts | 44 | €1,816 | €9,772 | +€7,955 | +438.0% |
| Suppliers | 440/4 | €1,816 | €9,772 | +€7,955 | +438.0% |
| Taxes, remuneration and social security | 45 | €11,605 | €11,008 | -€597 | -5.1% |
| Taxes | 450/3 | €11,605 | €10,008 | -€1,597 | -13.8% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €25,831 | €6,615 | -€19,216 | -74.4% |
| Accrued charges and deferred income | 492/3 | €554 | €1,080 | +€526 | +94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,596 | €25,003 | -€593 | -2.3% |
| Other operating charges | 640/8 | €1,169 | €674 | -€496 | -42.4% |
| Gross operating margin | 9900 | €135,442 | €137,741 | +€2,299 | +1.7% |
| Operating profit (loss) | 9901 | €108,676 | €112,064 | +€3,388 | +3.1% |
| Financial income | 75/76B | €6,201 | €5,279 | -€921 | -14.9% |
| Recurring financial income | 75 | €6,201 | €5,279 | -€921 | -14.9% |
| Financial charges | 65/66B | €2,837 | €2,262 | -€574 | -20.2% |
| Recurring financial charges | 65 | €2,837 | €2,262 | -€574 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €112,040 | €115,081 | +€3,041 | +2.7% |
| Income taxes | 67/77 | €32,000 | €32,583 | +€583 | +1.8% |
| Profit (loss) for the period | 9904 | €80,040 | €82,498 | +€2,458 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,040 | €82,498 | +€2,458 | +3.1% |
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 1 October 2026 via checked.be.