LET'S CREATE: 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.
LET'S CREATE
Largest movements
- Receivables within one year +€195,459
up €195,459 (+125.4%), from €155,911 to €351,370
of which Other amounts receivable: +€197,045
- Tangible fixed assets -€15,780
down €15,780 (-7.8%), from €203,542 to €187,762
of which Land and buildings: -€8,320
- Cash -€8,176
down €8,176 (-55.8%), from €14,659 to €6,483
mainly Receivables within one year (-€195,459) and Net result for the year (-€34,041)
- Short-term financial debts +€230,000
up €230,000 (+383.3%), from €60,000 to €290,000
- Reserves -€33,117
down €33,117 (-12.2%), from €271,000 to €237,883
of which Distributable reserves: -€33,117
- Current portion of long-term debt -€13,590
down €13,590 (-59.2%), from €22,963 to €9,373
- Debts after one year -€9,373
no longer reported in 2025 (was €9,373)
- Gross operating margin -€56,182
down €56,182, from €46,904 to -€9,277
- Taxes -€4,821
no longer reported in 2025 (was €4,821)
- Financial income +€3,590
up €3,590 (+81.0%), from €4,432 to €8,022
- Financial charges -€2,576
down €2,576 (-23.0%), from €11,181 to €8,605
- Other operating charges +€1,383
up €1,383 (+70.2%), from €1,970 to €3,353
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 | €380,612 | €555,921 | +€175,310 | +46.1% |
| Fixed assets | 21/28 | €203,542 | €187,762 | -€15,780 | -7.8% |
| Tangible fixed assets | 22/27 | €203,542 | €187,762 | -€15,780 | -7.8% |
| Land and buildings | 22 | €186,480 | €178,160 | -€8,320 | -4.5% |
| Furniture and vehicles | 24 | €6,929 | €5,529 | -€1,400 | -20.2% |
| Leasing and similar rights | 25 | €7,061 | €367 | -€6,694 | -94.8% |
| Other tangible fixed assets | 26 | €3,072 | €3,706 | +€634 | +20.6% |
| Current assets | 29/58 | €177,070 | €368,160 | +€191,090 | +107.9% |
| Stocks and contracts in progress | 3 | - | €1,783 | +€1,783 | |
| Stocks | 30/36 | - | €1,783 | +€1,783 | |
| Amounts receivable within one year | 40/41 | €155,911 | €351,370 | +€195,459 | +125.4% |
| Trade receivables | 40 | €10,334 | €8,748 | -€1,586 | -15.3% |
| Other amounts receivable | 41 | €145,577 | €342,622 | +€197,045 | +135.4% |
| Cash at bank and in hand | 54/58 | €14,659 | €6,483 | -€8,176 | -55.8% |
| Deferred charges and accrued income | 490/1 | €6,500 | €8,524 | +€2,024 | +31.1% |
| Total equity and liabilities | 10/49 | €380,612 | €555,921 | +€175,310 | +46.1% |
| Equity | 10/15 | €278,124 | €244,083 | -€34,041 | -12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,000 | €237,883 | -€33,117 | -12.2% |
| Tax-exempt reserves | 132 | €26,973 | €26,973 | = | 0.0% |
| Distributable reserves | 133 | €244,027 | €210,910 | -€33,117 | -13.6% |
| Profit (loss) carried forward | 14 | €924 | - | -€924 | |
| Amounts payable | 17/49 | €102,488 | €311,838 | +€209,350 | +204.3% |
| Amounts payable after more than one year | 17 | €9,373 | - | -€9,373 | |
| Financial debts | 170/4 | €9,373 | - | -€9,373 | |
| Amounts payable within one year | 42/48 | €89,700 | €310,430 | +€220,730 | +246.1% |
| Current portion of amounts payable after more than one year | 42 | €22,963 | €9,373 | -€13,590 | -59.2% |
| Financial debts | 43 | €60,000 | €290,000 | +€230,000 | +383.3% |
| Credit institutions | 430/8 | €60,000 | €290,000 | +€230,000 | +383.3% |
| Trade debts | 44 | €5,916 | €11,057 | +€5,141 | +86.9% |
| Suppliers | 440/4 | €5,916 | €11,057 | +€5,141 | +86.9% |
| Taxes, remuneration and social security | 45 | €821 | - | -€821 | |
| Taxes | 450/3 | €821 | - | -€821 | |
| Accrued charges and deferred income | 492/3 | €3,415 | €1,409 | -€2,007 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,340 | €17,796 | +€456 | +2.6% |
| Other operating charges | 640/8 | €1,970 | €3,353 | +€1,383 | +70.2% |
| Non-recurring operating charges | 66A | €53 | €3,030 | +€2,977 | +5617.8% |
| Gross operating margin | 9900 | €46,904 | -€9,277 | -€56,182 | |
| Operating profit (loss) | 9901 | €27,541 | -€33,458 | -€60,999 | |
| Financial income | 75/76B | €4,432 | €8,022 | +€3,590 | +81.0% |
| Recurring financial income | 75 | €4,432 | €8,022 | +€3,590 | +81.0% |
| Financial charges | 65/66B | €11,181 | €8,605 | -€2,576 | -23.0% |
| Recurring financial charges | 65 | €11,181 | €8,605 | -€2,576 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €20,792 | -€34,041 | -€54,833 | |
| Income taxes | 67/77 | €4,821 | - | -€4,821 | |
| Profit (loss) for the period | 9904 | €15,971 | -€34,041 | -€50,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,971 | -€34,041 | -€50,012 |
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 30 September 2026 via checked.be.