LE PAIN: 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.
LE PAIN
Largest movements
- Receivables after one year -€68,276
down €68,276 (-68.3%), from €100,000 to €31,724
- Tangible fixed assets -€24,472
down €24,472 (-24.8%), from €98,729 to €74,257
of which Other tangible fixed assets: -€20,618
- Receivables within one year +€5,208
up €5,208 (+6.8%), from €76,654 to €81,862
of which Other amounts receivable: +€18,176
- Reserves -€53,481
down €53,481 (-24.4%), from €219,488 to €166,007
of which Distributable reserves: -€53,481
- Trade debts -€39,617
down €39,617 (-39.9%), from €99,413 to €59,796
- Debts after one year -€20,333
down €20,333 (-59.7%), from €34,058 to €13,725
- Tax, wage and social debts +€17,928
up €17,928 (+56.1%), from €31,977 to €49,905
of which Remuneration and social security: +€15,853
- Accrued charges and deferred income +€7,461
up €7,461, from €0 to €7,461
- Staff costs +€57,218
up €57,218 (+41.7%), from €137,095 to €194,313
- Gross operating margin +€42,041
up €42,041 (+19.5%), from €215,900 to €257,941
- Other operating charges -€6,245
down €6,245 (-64.5%), from €9,684 to €3,439
- Financial charges +€5,314
up €5,314 (+94.0%), from €5,653 to €10,967
- Taxes -€4,147
down €4,147 (-31.3%), from €13,258 to €9,111
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 | €426,705 | €334,996 | -€91,709 | -21.5% |
| Fixed assets | 21/28 | €103,469 | €77,981 | -€25,488 | -24.6% |
| Intangible fixed assets | 21 | €4,366 | €3,350 | -€1,016 | -23.3% |
| Tangible fixed assets | 22/27 | €98,729 | €74,257 | -€24,472 | -24.8% |
| Plant, machinery and equipment | 23 | €13,323 | €10,898 | -€2,425 | -18.2% |
| Furniture and vehicles | 24 | €3,869 | €2,439 | -€1,430 | -37.0% |
| Other tangible fixed assets | 26 | €81,538 | €60,920 | -€20,618 | -25.3% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €323,236 | €257,015 | -€66,221 | -20.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €31,724 | -€68,276 | -68.3% |
| Other amounts receivable | 291 | €100,000 | €31,724 | -€68,276 | -68.3% |
| Stocks and contracts in progress | 3 | €2,898 | €850 | -€2,048 | -70.7% |
| Stocks | 30/36 | €2,898 | €850 | -€2,048 | -70.7% |
| Amounts receivable within one year | 40/41 | €76,654 | €81,862 | +€5,208 | +6.8% |
| Trade receivables | 40 | €12,968 | €0 | -€12,968 | -100% |
| Other amounts receivable | 41 | €63,686 | €81,862 | +€18,176 | +28.5% |
| Cash at bank and in hand | 54/58 | €127,221 | €129,719 | +€2,498 | +2.0% |
| Deferred charges and accrued income | 490/1 | €16,462 | €12,860 | -€3,603 | -21.9% |
| Total equity and liabilities | 10/49 | €426,705 | €334,996 | -€91,709 | -21.5% |
| Equity | 10/15 | €237,257 | €183,776 | -€53,481 | -22.5% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €219,488 | €166,007 | -€53,481 | -24.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,100 | €40,100 | = | 0.0% |
| Distributable reserves | 133 | €177,528 | €124,047 | -€53,481 | -30.1% |
| Profit (loss) carried forward | 14 | €1,569 | €1,569 | = | 0.0% |
| Amounts payable | 17/49 | €189,448 | €151,220 | -€38,228 | -20.2% |
| Amounts payable after more than one year | 17 | €34,058 | €13,725 | -€20,333 | -59.7% |
| Financial debts | 170/4 | €34,058 | €13,725 | -€20,333 | -59.7% |
| Amounts payable within one year | 42/48 | €155,389 | €130,033 | -€25,356 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €24,000 | €20,333 | -€3,667 | -15.3% |
| Trade debts | 44 | €99,413 | €59,796 | -€39,617 | -39.9% |
| Suppliers | 440/4 | €99,413 | €59,796 | -€39,617 | -39.9% |
| Taxes, remuneration and social security | 45 | €31,977 | €49,905 | +€17,928 | +56.1% |
| Taxes | 450/3 | €14,054 | €16,129 | +€2,075 | +14.8% |
| Remuneration and social security | 454/9 | €17,922 | €33,776 | +€15,853 | +88.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €7,461 | +€7,461 | |
| Remuneration, social security and pensions | 62 | €137,095 | €194,313 | +€57,218 | +41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,602 | €25,488 | +€886 | +3.6% |
| Other operating charges | 640/8 | €9,684 | €3,439 | -€6,245 | -64.5% |
| Gross operating margin | 9900 | €215,900 | €257,941 | +€42,041 | +19.5% |
| Operating profit (loss) | 9901 | €44,519 | €34,701 | -€9,817 | -22.1% |
| Financial income | 75/76B | €6,275 | €4,755 | -€1,520 | -24.2% |
| Recurring financial income | 75 | €6,275 | €4,755 | -€1,520 | -24.2% |
| Financial charges | 65/66B | €5,653 | €10,967 | +€5,314 | +94.0% |
| Recurring financial charges | 65 | €5,653 | €10,967 | +€5,314 | +94.0% |
| Profit (loss) for the period before taxes | 9903 | €45,141 | €28,490 | -€16,652 | -36.9% |
| Income taxes | 67/77 | €13,258 | €9,111 | -€4,147 | -31.3% |
| Profit (loss) for the period | 9904 | €31,883 | €19,379 | -€12,504 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,883 | €19,379 | -€12,504 | -39.2% |
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 21 October 2026 via checked.be.