L & S: 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 & S
Largest movements
- Tangible fixed assets +€277,804
up €277,804 (+2084.9%), from €13,325 to €291,129
of which Land and buildings: +€277,492
- Receivables after one year -€24,000
down €24,000 (-100.0%), from €24,000 to €0
- Deferred charges and accrued income -€11,436
down €11,436 (-27.4%), from €41,790 to €30,355
- Debts after one year +€234,207
new in 2025: €234,207
- Other debts +€36,477
up €36,477 (+187.4%), from €19,464 to €55,941
- Reserves -€26,490
down €26,490 (-16.3%), from €162,323 to €135,833
- Tax, wage and social debts -€11,102
down €11,102 (-47.7%), from €23,277 to €12,175
- Profit (loss) carried forward -€10,116
down €10,116, from €0 to -€10,116
- Gross operating margin -€35,121
down €35,121 (-61.9%), from €56,751 to €21,631
- Taxes -€12,249
down €12,249 (-96.2%), from €12,728 to €479
- Financial charges +€9,613
up €9,613 (+324.3%), from €2,964 to €12,577
- Other operating charges +€8,407
up €8,407 (+557.7%), from €1,507 to €9,914
- Depreciation +€4,735
up €4,735 (+100.2%), from €4,725 to €9,460
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 | €225,809 | €461,732 | +€235,923 | +104.5% |
| Fixed assets | 21/28 | €16,475 | €294,429 | +€277,954 | +1687.1% |
| Tangible fixed assets | 22/27 | €13,325 | €291,129 | +€277,804 | +2084.9% |
| Land and buildings | 22 | - | €277,492 | +€277,492 | |
| Plant, machinery and equipment | 23 | €1,140 | €2,338 | +€1,197 | +105.0% |
| Furniture and vehicles | 24 | €12,184 | €11,300 | -€885 | -7.3% |
| Financial fixed assets | 28 | €3,150 | €3,300 | +€150 | +4.8% |
| Current assets | 29/58 | €209,334 | €167,302 | -€42,032 | -20.1% |
| Amounts receivable after more than one year | 29 | €24,000 | €0 | -€24,000 | -100.0% |
| Other amounts receivable | 291 | €24,000 | €0 | -€24,000 | -100.0% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,940 | €43,879 | -€3,061 | -6.5% |
| Trade receivables | 40 | €46,940 | €19,879 | -€27,061 | -57.7% |
| Other amounts receivable | 41 | - | €24,000 | +€24,000 | |
| Cash at bank and in hand | 54/58 | €95,104 | €91,569 | -€3,535 | -3.7% |
| Deferred charges and accrued income | 490/1 | €41,790 | €30,355 | -€11,436 | -27.4% |
| Total equity and liabilities | 10/49 | €225,809 | €461,732 | +€235,923 | +104.5% |
| Equity | 10/15 | €168,573 | €131,967 | -€36,605 | -21.7% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €162,323 | €135,833 | -€26,490 | -16.3% |
| Distributable reserves | 133 | €162,323 | €135,833 | -€26,490 | -16.3% |
| Profit (loss) carried forward | 14 | €0 | -€10,116 | -€10,116 | |
| Amounts payable | 17/49 | €57,236 | €329,765 | +€272,528 | +476.1% |
| Amounts payable after more than one year | 17 | - | €234,207 | +€234,207 | |
| Financial debts | 170/4 | - | €234,207 | +€234,207 | |
| Amounts payable within one year | 42/48 | €55,171 | €91,152 | +€35,981 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,608 | +€8,608 | |
| Trade debts | 44 | €12,429 | €14,427 | +€1,998 | +16.1% |
| Suppliers | 440/4 | €12,429 | €14,427 | +€1,998 | +16.1% |
| Taxes, remuneration and social security | 45 | €23,277 | €12,175 | -€11,102 | -47.7% |
| Taxes | 450/3 | €23,277 | €12,175 | -€11,102 | -47.7% |
| Other amounts payable | 47/48 | €19,464 | €55,941 | +€36,477 | +187.4% |
| Accrued charges and deferred income | 492/3 | €2,066 | €4,406 | +€2,340 | +113.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,725 | €9,460 | +€4,735 | +100.2% |
| Other operating charges | 640/8 | €1,507 | €9,914 | +€8,407 | +557.7% |
| Non-recurring operating charges | 66A | €9,608 | €0 | -€9,608 | -100.0% |
| Gross operating margin | 9900 | €56,751 | €21,631 | -€35,121 | -61.9% |
| Operating profit (loss) | 9901 | €40,911 | €2,257 | -€38,654 | -94.5% |
| Financial income | 75/76B | €667 | €682 | +€15 | +2.3% |
| Recurring financial income | 75 | €667 | €682 | +€15 | +2.3% |
| Financial charges | 65/66B | €2,964 | €12,577 | +€9,613 | +324.3% |
| Recurring financial charges | 65 | €2,964 | €12,577 | +€9,613 | +324.3% |
| Profit (loss) for the period before taxes | 9903 | €38,614 | -€9,637 | -€48,251 | |
| Income taxes | 67/77 | €12,728 | €479 | -€12,249 | -96.2% |
| Profit (loss) for the period | 9904 | €25,886 | -€10,116 | -€36,002 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,886 | -€10,116 | -€36,002 |
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.