KEEP IT WORKING: 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.
KEEP IT WORKING
Largest movements
- Cash -€44,897
down €44,897 (-94.7%), from €47,413 to €2,516
mainly Contributions, distributions and other (-€111,733) and Investment in fixed assets (net) (-€35,897)
- Receivables within one year +€9,449
up €9,449 (+24.9%), from €37,960 to €47,410
of which Trade receivables: +€10,218
- Other debts +€58,749
up €58,749 (+29.9%), from €196,697 to €255,445
- Reserves -€45,182
down €45,182 (-30.7%), from €147,383 to €102,200
of which Distributable reserves: -€45,182
- Debts after one year -€29,291
down €29,291 (-6.1%), from €482,063 to €452,771
- Contributions -€18,599
down €18,599 (-100.0%), from €18,600 to €1
- Tax, wage and social debts -€17,204
down €17,204 (-61.4%), from €27,999 to €10,795
of which Taxes: -€15,638
- Taxes +€21,235
up €21,235 (+271.5%), from €7,822 to €29,057
- Gross operating margin -€20,210
down €20,210 (-13.2%), from €153,614 to €133,404
- Financial charges -€7,955
down €7,955 (-24.6%), from €32,361 to €24,406
- Depreciation +€2,193
up €2,193 (+8.5%), from €25,710 to €27,903
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 | €903,056 | €870,671 | -€32,385 | -3.6% |
| Fixed assets | 21/28 | €809,370 | €817,364 | +€7,994 | +1.0% |
| Tangible fixed assets | 22/27 | €809,370 | €813,839 | +€4,469 | +0.6% |
| Land and buildings | 22 | €780,158 | €758,867 | -€21,292 | -2.7% |
| Plant, machinery and equipment | 23 | €24,865 | €33,824 | +€8,959 | +36.0% |
| Furniture and vehicles | 24 | €4,346 | €5,793 | +€1,446 | +33.3% |
| Other tangible fixed assets | 26 | - | €15,356 | +€15,356 | |
| Financial fixed assets | 28 | - | €3,525 | +€3,525 | |
| Current assets | 29/58 | €93,687 | €53,307 | -€40,379 | -43.1% |
| Amounts receivable within one year | 40/41 | €37,960 | €47,410 | +€9,449 | +24.9% |
| Trade receivables | 40 | €36,344 | €46,562 | +€10,218 | +28.1% |
| Other amounts receivable | 41 | €1,616 | €848 | -€769 | -47.5% |
| Cash at bank and in hand | 54/58 | €47,413 | €2,516 | -€44,897 | -94.7% |
| Deferred charges and accrued income | 490/1 | €8,313 | €3,381 | -€4,932 | -59.3% |
| Total equity and liabilities | 10/49 | €903,056 | €870,671 | -€32,385 | -3.6% |
| Equity | 10/15 | €165,983 | €102,201 | -€63,781 | -38.4% |
| Contributions | 10/11 | €18,600 | €1 | -€18,599 | -100.0% |
| Reserves | 13 | €147,383 | €102,200 | -€45,182 | -30.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €147,383 | €102,200 | -€45,182 | -30.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €737,074 | €768,470 | +€31,396 | +4.3% |
| Amounts payable after more than one year | 17 | €482,063 | €452,771 | -€29,291 | -6.1% |
| Financial debts | 170/4 | €482,063 | €452,771 | -€29,291 | -6.1% |
| Amounts payable within one year | 42/48 | €255,011 | €304,150 | +€49,139 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €29,120 | €29,291 | +€171 | +0.6% |
| Financial debts | 43 | - | €6,739 | +€6,739 | |
| Credit institutions | 430/8 | - | €6,739 | +€6,739 | |
| Trade debts | 44 | €1,195 | €1,880 | +€685 | +57.3% |
| Suppliers | 440/4 | €1,195 | €1,880 | +€685 | +57.3% |
| Taxes, remuneration and social security | 45 | €27,999 | €10,795 | -€17,204 | -61.4% |
| Taxes | 450/3 | €26,433 | €10,795 | -€15,638 | -59.2% |
| Remuneration and social security | 454/9 | €1,566 | €0 | -€1,566 | -100.0% |
| Other amounts payable | 47/48 | €196,697 | €255,445 | +€58,749 | +29.9% |
| Accrued charges and deferred income | 492/3 | €0 | €11,549 | +€11,549 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,710 | €27,903 | +€2,193 | +8.5% |
| Other operating charges | 640/8 | €2,887 | €4,141 | +€1,255 | +43.5% |
| Gross operating margin | 9900 | €153,614 | €133,404 | -€20,210 | -13.2% |
| Operating profit (loss) | 9901 | €125,018 | €101,360 | -€23,658 | -18.9% |
| Financial income | 75/76B | €49 | €55 | +€5 | +10.9% |
| Recurring financial income | 75 | €49 | €55 | +€5 | +10.9% |
| Financial charges | 65/66B | €32,361 | €24,406 | -€7,955 | -24.6% |
| Recurring financial charges | 65 | €32,361 | €24,406 | -€7,955 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €92,706 | €77,008 | -€15,697 | -16.9% |
| Income taxes | 67/77 | €7,822 | €29,057 | +€21,235 | +271.5% |
| Profit (loss) for the period | 9904 | €84,884 | €47,951 | -€36,933 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €84,884 | €47,951 | -€36,933 | -43.5% |
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 8 October 2026 via checked.be.