Growing-UP: 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.
Growing-UP
Largest movements
- Receivables within one year +€7.8m
up €7.8m (+118%), from €6.6m to €14.5m
- Financial fixed assets +€7.0m
up €7.0m (+26.2%), from €26.6m to €33.5m
- Other debts +€13.2m
up €13.2m (+1,039%), from €1.3m to €14.5m
- Reserves +€791,508
up €791,508 (+4.7%), from €16.8m to €17.6m
- Financial income +€289,099
up €289,099 (+25.4%), from €1.1m to €1.4m
of which Financial income: +€183,536
- Financial charges -€92,962
down €92,962 (-27.0%), from €344,511 to €251,550
of which Non-recurring financial charges: -€116,471
- Taxes +€89,737
up €89,737 (+530%), from €16,943 to €106,680
- Gross operating margin -€3,689
down €3,689 (-77.5%), from €4,758 to €1,069
- Other operating charges -€364
down €364 (-18.2%), from €1,996 to €1,633
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 | €33,650,883 | €48,028,833 | +€14.4m | +42.7% |
| Fixed assets | 21/28 | €26,569,030 | €33,521,246 | +€7.0m | +26.2% |
| Financial fixed assets | 28 | €26,569,030 | €33,521,246 | +€7.0m | +26.2% |
| Current assets | 29/58 | €7,081,854 | €14,507,587 | +€7.4m | +105% |
| Amounts receivable within one year | 40/41 | €6,647,685 | €14,486,161 | +€7.8m | +118% |
| Other amounts receivable | 41 | €6,647,685 | €14,486,161 | +€7.8m | +118% |
| Cash at bank and in hand | 54/58 | €434,122 | €21,378 | -€412,744 | -95.1% |
| Deferred charges and accrued income | 490/1 | €47 | €48 | +€1 | +2.6% |
| Total equity and liabilities | 10/49 | €33,650,883 | €48,028,833 | +€14.4m | +42.7% |
| Equity | 10/15 | €32,324,749 | €33,116,257 | +€791,508 | +2.4% |
| Contributions | 10/11 | €15,559,063 | €15,559,063 | = | 0.0% |
| Reserves | 13 | €16,765,686 | €17,557,194 | +€791,508 | +4.7% |
| Distributable reserves | 133 | €16,765,686 | €17,557,194 | +€791,508 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,326,134 | €14,912,575 | +€13.6m | +1,025% |
| Amounts payable within one year | 42/48 | €1,320,798 | €14,906,680 | +€13.6m | +1,029% |
| Trade debts | 44 | €30,000 | €0 | -€30,000 | -100% |
| Suppliers | 440/4 | €30,000 | €0 | -€30,000 | -100% |
| Advances received on contracts in progress | 46 | - | €370,000 | +€370,000 | |
| Taxes, remuneration and social security | 45 | €16,943 | €26,680 | +€9,737 | +57.5% |
| Taxes | 450/3 | €16,943 | €26,680 | +€9,737 | +57.5% |
| Other amounts payable | 47/48 | €1,273,855 | €14,510,000 | +€13.2m | +1,039% |
| Accrued charges and deferred income | 492/3 | €5,336 | €5,896 | +€560 | +10.5% |
| Other operating charges | 640/8 | €1,996 | €1,633 | -€364 | -18.2% |
| Gross operating margin | 9900 | €4,758 | €1,069 | -€3,689 | -77.5% |
| Operating profit (loss) | 9901 | €2,762 | -€564 | -€3,326 | |
| Financial income | 75/76B | €1,136,202 | €1,425,302 | +€289,099 | +25.4% |
| Recurring financial income | 75 | €471,473 | €655,009 | +€183,536 | +38.9% |
| Non-recurring financial income | 76B | €664,730 | €770,293 | +€105,563 | +15.9% |
| Financial charges | 65/66B | €344,511 | €251,550 | -€92,962 | -27.0% |
| Recurring financial charges | 65 | €227,927 | €251,437 | +€23,509 | +10.3% |
| Non-recurring financial charges | 66B | €116,584 | €113 | -€116,471 | -99.9% |
| Profit (loss) for the period before taxes | 9903 | €794,453 | €1,173,188 | +€378,735 | +47.7% |
| Income taxes | 67/77 | €16,943 | €106,680 | +€89,737 | +530% |
| Profit (loss) for the period | 9904 | €777,510 | €1,066,508 | +€288,998 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €777,510 | €1,066,508 | +€288,998 | +37.2% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.