LAUNAY’SPEECH: 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.
LAUNAY’SPEECH
Largest movements
- Receivables within one year +€5,765
up €5,765 (+18.4%), from €31,362 to €37,127
of which Other amounts receivable: +€5,768
- Cash +€1,461
up €1,461 (+6.3%), from €23,116 to €24,577
mainly Net result for the year (+€16,596) and Trade debts (+€209)
- Profit (loss) carried forward +€16,596
up €16,596 (+48.8%), from €34,034 to €50,630
- Other debts -€9,723
no longer reported in 2025 (was €9,723)
- Gross operating margin -€6,097
down €6,097 (-21.9%), from €27,807 to €21,710
- Taxes -€745
down €745 (-13.7%), from €5,428 to €4,683
- Other operating charges +€387
new in 2025: €387
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 | €54,478 | €61,704 | +€7,226 | +13.3% |
| Current assets | 29/58 | €54,478 | €61,704 | +€7,226 | +13.3% |
| Amounts receivable within one year | 40/41 | €31,362 | €37,127 | +€5,765 | +18.4% |
| Trade receivables | 40 | €31,362 | €31,360 | -€3 | 0.0% |
| Other amounts receivable | 41 | - | €5,768 | +€5,768 | |
| Cash at bank and in hand | 54/58 | €23,116 | €24,577 | +€1,461 | +6.3% |
| Total equity and liabilities | 10/49 | €54,478 | €61,704 | +€7,226 | +13.3% |
| Equity | 10/15 | €35,534 | €52,130 | +€16,596 | +46.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,034 | €50,630 | +€16,596 | +48.8% |
| Amounts payable | 17/49 | €18,944 | €9,574 | -€9,370 | -49.5% |
| Amounts payable within one year | 42/48 | €18,944 | €9,574 | -€9,370 | -49.5% |
| Trade debts | 44 | €2,882 | €3,091 | +€209 | +7.3% |
| Suppliers | 440/4 | €2,882 | €3,091 | +€209 | +7.3% |
| Taxes, remuneration and social security | 45 | €6,339 | €6,483 | +€144 | +2.3% |
| Taxes | 450/3 | €6,339 | €6,483 | +€144 | +2.3% |
| Other amounts payable | 47/48 | €9,723 | - | -€9,723 | |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €27,807 | €21,710 | -€6,097 | -21.9% |
| Operating profit (loss) | 9901 | €27,807 | €21,323 | -€6,484 | -23.3% |
| Financial charges | 65/66B | €61 | €44 | -€17 | -28.3% |
| Recurring financial charges | 65 | €61 | €44 | -€17 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €27,746 | €21,279 | -€6,467 | -23.3% |
| Income taxes | 67/77 | €5,428 | €4,683 | -€745 | -13.7% |
| Profit (loss) for the period | 9904 | €22,318 | €16,596 | -€5,722 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,318 | €16,596 | -€5,722 | -25.6% |
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 8 October 2026 via checked.be.