I M A G E: 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.
I M A G E
Largest movements
- Tangible fixed assets -€14,650
down €14,650 (-4.0%), from €368,662 to €354,012
of which Land and buildings: -€27,233
- Receivables within one year -€4,414
down €4,414 (-95.9%), from €4,603 to €189
- Deferred charges and accrued income +€4,363
up €4,363 (+566.5%), from €770 to €5,133
- Debts after one year -€46,873
down €46,873 (-27.2%), from €172,561 to €125,688
- Other debts +€20,270
up €20,270 (+59.7%), from €33,958 to €54,228
- Reserves +€10,075
up €10,075 (+12.4%), from €81,312 to €91,387
of which Distributable reserves: +€10,075
- Gross operating margin +€1,987
up €1,987 (+3.5%), from €56,472 to €58,459
- Other operating charges -€1,546
down €1,546 (-33.7%), from €4,592 to €3,046
- Financial charges -€1,171
down €1,171 (-19.9%), from €5,876 to €4,705
- Taxes -€601
down €601 (-9.1%), from €6,608 to €6,007
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 | €379,380 | €363,057 | -€16,323 | -4.3% |
| Fixed assets | 21/28 | €368,762 | €354,112 | -€14,650 | -4.0% |
| Tangible fixed assets | 22/27 | €368,662 | €354,012 | -€14,650 | -4.0% |
| Land and buildings | 22 | €353,291 | €326,058 | -€27,233 | -7.7% |
| Plant, machinery and equipment | 23 | €7,773 | €22,868 | +€15,095 | +194.2% |
| Furniture and vehicles | 24 | €7,598 | €5,086 | -€2,512 | -33.1% |
| Financial fixed assets | 28 | €100 | €100 | -€0 | -0.2% |
| Current assets | 29/58 | €10,618 | €8,945 | -€1,673 | -15.8% |
| Stocks and contracts in progress | 3 | €4,886 | €3,418 | -€1,468 | -30.0% |
| Stocks | 30/36 | €4,886 | €3,418 | -€1,468 | -30.0% |
| Amounts receivable within one year | 40/41 | €4,603 | €189 | -€4,414 | -95.9% |
| Other amounts receivable | 41 | €4,603 | €189 | -€4,414 | -95.9% |
| Cash at bank and in hand | 54/58 | €358 | €205 | -€153 | -42.8% |
| Deferred charges and accrued income | 490/1 | €770 | €5,133 | +€4,363 | +566.5% |
| Total equity and liabilities | 10/49 | €379,380 | €363,057 | -€16,323 | -4.3% |
| Equity | 10/15 | €109,790 | €119,865 | +€10,075 | +9.2% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Reserves | 13 | €81,312 | €91,387 | +€10,075 | +12.4% |
| Tax-exempt reserves | 132 | €29,848 | €29,848 | +€0 | 0.0% |
| Distributable reserves | 133 | €51,464 | €61,539 | +€10,075 | +19.6% |
| Profit (loss) carried forward | 14 | €21,878 | €21,878 | +€0 | 0.0% |
| Amounts payable | 17/49 | €269,590 | €243,192 | -€26,398 | -9.8% |
| Amounts payable after more than one year | 17 | €172,561 | €125,688 | -€46,873 | -27.2% |
| Financial debts | 170/4 | €172,561 | €125,688 | -€46,873 | -27.2% |
| Amounts payable within one year | 42/48 | €95,779 | €116,004 | +€20,225 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €39,932 | €40,437 | +€505 | +1.3% |
| Trade debts | 44 | €7,375 | €4,176 | -€3,199 | -43.4% |
| Suppliers | 440/4 | €7,375 | €4,176 | -€3,199 | -43.4% |
| Taxes, remuneration and social security | 45 | €14,515 | €17,163 | +€2,648 | +18.2% |
| Taxes | 450/3 | €11,070 | €13,676 | +€2,606 | +23.5% |
| Remuneration and social security | 454/9 | €3,445 | €3,487 | +€42 | +1.2% |
| Other amounts payable | 47/48 | €33,958 | €54,228 | +€20,270 | +59.7% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,500 | +€250 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,129 | €33,032 | -€97 | -0.3% |
| Other operating charges | 640/8 | €4,592 | €3,046 | -€1,546 | -33.7% |
| Gross operating margin | 9900 | €56,472 | €58,459 | +€1,987 | +3.5% |
| Operating profit (loss) | 9901 | €18,750 | €22,381 | +€3,631 | +19.4% |
| Financial income | 75/76B | €0 | €6 | +€6 | +1263.6% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +1263.6% |
| Financial charges | 65/66B | €5,876 | €4,705 | -€1,171 | -19.9% |
| Recurring financial charges | 65 | €5,876 | €4,705 | -€1,171 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €12,875 | €17,682 | +€4,807 | +37.3% |
| Income taxes | 67/77 | €6,608 | €6,007 | -€601 | -9.1% |
| Profit (loss) for the period | 9904 | €6,267 | €11,675 | +€5,408 | +86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,267 | €11,675 | +€5,408 | +86.3% |
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 12 October 2026 via checked.be.