L.E: 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.
L.E
Largest movements
- Receivables within one year +€428,097
up €428,097 (+34.9%), from €1.2m to €1.7m
of which Other amounts receivable: +€238,540
- Tangible fixed assets +€103,771
up €103,771 (+26.2%), from €395,630 to €499,401
of which Other tangible fixed assets: +€57,629
- Cash -€56,418
down €56,418 (-88.3%), from €63,881 to €7,463
mainly Receivables within one year (-€428,097) and Contributions, distributions and other (-€250,000)
- Trade debts +€445,173
up €445,173 (+49.5%), from €898,783 to €1.3m
- Other debts -€159,759
down €159,759 (-33.4%), from €478,123 to €318,364
- Accrued charges and deferred income +€119,832
up €119,832 (+41.8%), from €286,860 to €406,693
- Profit (loss) carried forward +€38,133
up €38,133 (+80.4%), from €47,420 to €85,553
- Tax, wage and social debts +€23,928
up €23,928 (+65.5%), from €36,506 to €60,435
of which Taxes: +€24,443
- Staff costs +€71,201
up €71,201 (+46.8%), from €152,244 to €223,446
- Gross operating margin -€20,153
down €20,153 (-3.3%), from €605,723 to €585,570
- Depreciation +€17,842
up €17,842 (+44.0%), from €40,529 to €58,371
- Taxes +€10,233
up €10,233 (+1124.8%), from €910 to €11,143
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 | €1,767,693 | €2,235,000 | +€467,307 | +26.4% |
| Fixed assets | 21/28 | €472,630 | €565,401 | +€92,771 | +19.6% |
| Intangible fixed assets | 21 | €77,000 | €66,000 | -€11,000 | -14.3% |
| Tangible fixed assets | 22/27 | €395,630 | €499,401 | +€103,771 | +26.2% |
| Plant, machinery and equipment | 23 | €32,061 | €61,961 | +€29,900 | +93.3% |
| Furniture and vehicles | 24 | €7,387 | €23,628 | +€16,242 | +219.9% |
| Other tangible fixed assets | 26 | €356,183 | €413,811 | +€57,629 | +16.2% |
| Current assets | 29/58 | €1,295,062 | €1,669,599 | +€374,537 | +28.9% |
| Amounts receivable within one year | 40/41 | €1,227,390 | €1,655,487 | +€428,097 | +34.9% |
| Trade receivables | 40 | €192,298 | €381,855 | +€189,557 | +98.6% |
| Other amounts receivable | 41 | €1,035,092 | €1,273,632 | +€238,540 | +23.0% |
| Cash at bank and in hand | 54/58 | €63,881 | €7,463 | -€56,418 | -88.3% |
| Deferred charges and accrued income | 490/1 | €3,791 | €6,649 | +€2,857 | +75.4% |
| Total equity and liabilities | 10/49 | €1,767,693 | €2,235,000 | +€467,307 | +26.4% |
| Equity | 10/15 | €67,420 | €105,553 | +€38,133 | +56.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,420 | €85,553 | +€38,133 | +80.4% |
| Amounts payable | 17/49 | €1,700,272 | €2,129,447 | +€429,174 | +25.2% |
| Amounts payable within one year | 42/48 | €1,413,412 | €1,722,754 | +€309,342 | +21.9% |
| Trade debts | 44 | €898,783 | €1,343,955 | +€445,173 | +49.5% |
| Suppliers | 440/4 | €898,783 | €1,343,955 | +€445,173 | +49.5% |
| Taxes, remuneration and social security | 45 | €36,506 | €60,435 | +€23,928 | +65.5% |
| Taxes | 450/3 | €16,347 | €40,790 | +€24,443 | +149.5% |
| Remuneration and social security | 454/9 | €20,159 | €19,645 | -€514 | -2.6% |
| Other amounts payable | 47/48 | €478,123 | €318,364 | -€159,759 | -33.4% |
| Accrued charges and deferred income | 492/3 | €286,860 | €406,693 | +€119,832 | +41.8% |
| Remuneration, social security and pensions | 62 | €152,244 | €223,446 | +€71,201 | +46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,529 | €58,371 | +€17,842 | +44.0% |
| Other operating charges | 640/8 | €3,750 | €6,065 | +€2,315 | +61.7% |
| Gross operating margin | 9900 | €605,723 | €585,570 | -€20,153 | -3.3% |
| Operating profit (loss) | 9901 | €409,200 | €297,688 | -€111,512 | -27.3% |
| Financial income | 75/76B | €4,474 | €7,561 | +€3,087 | +69.0% |
| Recurring financial income | 75 | €4,474 | €7,561 | +€3,087 | +69.0% |
| Financial charges | 65/66B | €8,505 | €5,973 | -€2,532 | -29.8% |
| Recurring financial charges | 65 | €8,505 | €5,973 | -€2,532 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | €405,169 | €299,276 | -€105,893 | -26.1% |
| Income taxes | 67/77 | €910 | €11,143 | +€10,233 | +1124.8% |
| Profit (loss) for the period | 9904 | €404,259 | €288,133 | -€116,126 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €404,259 | €288,133 | -€116,126 | -28.7% |
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 5 October 2026 via checked.be.