JUDGE: 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.
JUDGE
Largest movements
- Cash +€45,880
up €45,880 (+20.2%), from €227,293 to €273,173
mainly Other debts (+€94,123) and Net result for the year (+€66,402)
- Receivables within one year +€4,965
up €4,965 (+6.4%), from €77,965 to €82,930
of which Other amounts receivable: +€12,632
- Other debts +€94,123
new in 2025: €94,123
- Reserves -€27,721
down €27,721 (-6.9%), from €400,823 to €373,102
- Tax, wage and social debts -€17,363
down €17,363 (-63.3%), from €27,443 to €10,080
- Gross operating margin -€37,151
down €37,151 (-27.0%), from €137,696 to €100,545
- Taxes -€12,435
down €12,435 (-30.0%), from €41,401 to €28,966
- Depreciation -€2,119
down €2,119 (-85.2%), from €2,487 to €368
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 | €436,846 | €485,361 | +€48,515 | +11.1% |
| Fixed assets | 21/28 | €1,280 | €912 | -€368 | -28.7% |
| Tangible fixed assets | 22/27 | €1,280 | €912 | -€368 | -28.7% |
| Plant, machinery and equipment | 23 | €829 | €461 | -€368 | -44.4% |
| Furniture and vehicles | 24 | €451 | €451 | = | 0.0% |
| Current assets | 29/58 | €435,566 | €484,449 | +€48,883 | +11.2% |
| Amounts receivable after more than one year | 29 | €128,000 | €128,000 | = | 0.0% |
| Other amounts receivable | 291 | €128,000 | €128,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,965 | €82,930 | +€4,965 | +6.4% |
| Trade receivables | 40 | €59,995 | €52,328 | -€7,667 | -12.8% |
| Other amounts receivable | 41 | €17,971 | €30,603 | +€12,632 | +70.3% |
| Cash at bank and in hand | 54/58 | €227,293 | €273,173 | +€45,880 | +20.2% |
| Deferred charges and accrued income | 490/1 | €2,308 | €345 | -€1,963 | -85.0% |
| Total equity and liabilities | 10/49 | €436,846 | €485,361 | +€48,515 | +11.1% |
| Equity | 10/15 | €401,823 | €374,102 | -€27,721 | -6.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €400,823 | €373,102 | -€27,721 | -6.9% |
| Distributable reserves | 133 | €400,823 | €373,102 | -€27,721 | -6.9% |
| Amounts payable | 17/49 | €35,023 | €111,258 | +€76,235 | +218% |
| Amounts payable within one year | 42/48 | €35,023 | €111,258 | +€76,235 | +218% |
| Trade debts | 44 | €7,580 | €7,055 | -€525 | -6.9% |
| Suppliers | 440/4 | €7,580 | €7,055 | -€525 | -6.9% |
| Taxes, remuneration and social security | 45 | €27,443 | €10,080 | -€17,363 | -63.3% |
| Taxes | 450/3 | €27,443 | €10,080 | -€17,363 | -63.3% |
| Other amounts payable | 47/48 | - | €94,123 | +€94,123 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,487 | €368 | -€2,119 | -85.2% |
| Other operating charges | 640/8 | €660 | €627 | -€32 | -4.9% |
| Gross operating margin | 9900 | €137,696 | €100,545 | -€37,151 | -27.0% |
| Operating profit (loss) | 9901 | €134,550 | €99,550 | -€35,000 | -26.0% |
| Financial charges | 65/66B | €4,825 | €4,181 | -€644 | -13.3% |
| Recurring financial charges | 65 | €4,825 | €4,181 | -€644 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €129,725 | €95,368 | -€34,356 | -26.5% |
| Income taxes | 67/77 | €41,401 | €28,966 | -€12,435 | -30.0% |
| Profit (loss) for the period | 9904 | €88,323 | €66,402 | -€21,921 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €88,323 | €66,402 | -€21,921 | -24.8% |
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 18 October 2026 via checked.be.