Imagie: 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.
Imagie
Largest movements
- Stocks and contracts -€14,772
down €14,772 (-5.6%), from €263,070 to €248,299
- Receivables within one year +€12,753
new in 2025: €12,753
of which Other amounts receivable: +€7,753
- Tangible fixed assets -€8,275
down €8,275 (-9.6%), from €86,052 to €77,777
- Deferred charges and accrued income -€7,844
down €7,844 (-64.1%), from €12,240 to €4,396
- Advances received -€56,951
no longer reported in 2025 (was €56,951)
- Trade debts +€54,953
up €54,953 (+356.0%), from €15,435 to €70,388
- Tax, wage and social debts +€17,162
up €17,162 (+1373.1%), from €1,250 to €18,412
of which Taxes: +€8,914
- Debts after one year -€14,264
down €14,264 (-11.4%), from €125,264 to €111,000
- Accrued charges and deferred income -€13,360
down €13,360 (-100.0%), from €13,360 to €0
- Gross operating margin -€19,504
down €19,504 (-21.1%), from €92,643 to €73,140
- Staff costs +€9,931
up €9,931 (+35.8%), from €27,707 to €37,637
- Financial charges -€9,759
down €9,759 (-41.5%), from €23,524 to €13,765
- Taxes -€6,160
down €6,160 (-59.2%), from €10,408 to €4,247
- Financial income -€4,854
down €4,854 (-86.5%), from €5,612 to €759
of which Non-recurring financial income: -€4,530
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 | €387,644 | €372,518 | -€15,127 | -3.9% |
| Fixed assets | 21/28 | €86,052 | €77,777 | -€8,275 | -9.6% |
| Tangible fixed assets | 22/27 | €86,052 | €77,777 | -€8,275 | -9.6% |
| Land and buildings | 22 | €86,052 | €77,777 | -€8,275 | -9.6% |
| Current assets | 29/58 | €301,592 | €294,741 | -€6,851 | -2.3% |
| Stocks and contracts in progress | 3 | €263,070 | €248,299 | -€14,772 | -5.6% |
| Stocks | 30/36 | €263,070 | €248,299 | -€14,772 | -5.6% |
| Amounts receivable within one year | 40/41 | - | €12,753 | +€12,753 | |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | - | €7,753 | +€7,753 | |
| Cash at bank and in hand | 54/58 | €26,282 | €29,293 | +€3,012 | +11.5% |
| Deferred charges and accrued income | 490/1 | €12,240 | €4,396 | -€7,844 | -64.1% |
| Total equity and liabilities | 10/49 | €387,644 | €372,518 | -€15,127 | -3.9% |
| Equity | 10/15 | €143,645 | €152,454 | +€8,810 | +6.1% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,145 | €113,954 | +€8,810 | +8.4% |
| Amounts payable | 17/49 | €244,000 | €220,064 | -€23,936 | -9.8% |
| Amounts payable after more than one year | 17 | €125,264 | €111,000 | -€14,264 | -11.4% |
| Financial debts | 170/4 | €125,264 | €111,000 | -€14,264 | -11.4% |
| Amounts payable within one year | 42/48 | €105,376 | €109,064 | +€3,688 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €16,443 | €14,264 | -€2,179 | -13.3% |
| Financial debts | 43 | €8,374 | €6,000 | -€2,374 | -28.4% |
| Credit institutions | 430/8 | €8,374 | €6,000 | -€2,374 | -28.4% |
| Trade debts | 44 | €15,435 | €70,388 | +€54,953 | +356.0% |
| Suppliers | 440/4 | €15,435 | €70,388 | +€54,953 | +356.0% |
| Advances received on contracts in progress | 46 | €56,951 | - | -€56,951 | |
| Taxes, remuneration and social security | 45 | €1,250 | €18,412 | +€17,162 | +1373.1% |
| Taxes | 450/3 | €1,250 | €10,164 | +€8,914 | +713.2% |
| Remuneration and social security | 454/9 | - | €8,248 | +€8,248 | |
| Other amounts payable | 47/48 | €6,923 | €0 | -€6,923 | -100.0% |
| Accrued charges and deferred income | 492/3 | €13,360 | €0 | -€13,360 | -100.0% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €27,707 | €37,637 | +€9,931 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,475 | €8,275 | -€200 | -2.4% |
| Other operating charges | 640/8 | €2,517 | €1,163 | -€1,354 | -53.8% |
| Gross operating margin | 9900 | €92,643 | €73,140 | -€19,504 | -21.1% |
| Operating profit (loss) | 9901 | €53,944 | €26,064 | -€27,881 | -51.7% |
| Financial income | 75/76B | €5,612 | €759 | -€4,854 | -86.5% |
| Recurring financial income | 75 | €1,082 | €759 | -€323 | -29.9% |
| Non-recurring financial income | 76B | €4,530 | - | -€4,530 | |
| Financial charges | 65/66B | €23,524 | €13,765 | -€9,759 | -41.5% |
| Recurring financial charges | 65 | €23,524 | €13,765 | -€9,759 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €36,032 | €13,057 | -€22,975 | -63.8% |
| Income taxes | 67/77 | €10,408 | €4,247 | -€6,160 | -59.2% |
| Profit (loss) for the period | 9904 | €25,624 | €8,810 | -€16,815 | -65.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,624 | €8,810 | -€16,815 | -65.6% |
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 4 October 2026 via checked.be.