LIGHT BLUE: 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.
LIGHT BLUE
Largest movements
- Stocks and contracts -€16,963
down €16,963 (-41.0%), from €41,417 to €24,454
- Tangible fixed assets -€7,061
down €7,061 (-8.9%), from €79,011 to €71,950
of which Land and buildings: -€4,507
- Reserves -€19,224
down €19,224 (-26.2%), from €73,385 to €54,161
of which Distributable reserves: -€19,224
- Debts after one year -€4,789
down €4,789 (-15.5%), from €30,904 to €26,115
- Write-downs +€14,369
up €14,369 (+11320.4%), from €127 to €14,496
- Depreciation -€6,662
down €6,662 (-48.5%), from €13,724 to €7,061
- Gross operating margin +€478
up €478 (+19.0%), from €2,514 to €2,991
- Financial charges -€430
down €430 (-87.5%), from €491 to €61
of which Non-recurring financial charges: -€425
- Financial income -€87
no longer reported in 2025 (was €87)
of which Financial income: -€87
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 | €122,899 | €98,889 | -€24,010 | -19.5% |
| Fixed assets | 21/28 | €79,011 | €71,950 | -€7,061 | -8.9% |
| Tangible fixed assets | 22/27 | €79,011 | €71,950 | -€7,061 | -8.9% |
| Land and buildings | 22 | €76,457 | €71,950 | -€4,507 | -5.9% |
| Plant, machinery and equipment | 23 | €831 | €0 | -€831 | -100.0% |
| Furniture and vehicles | 24 | €1,316 | - | -€1,316 | |
| Other tangible fixed assets | 26 | €407 | - | -€407 | |
| Current assets | 29/58 | €43,888 | €26,939 | -€16,949 | -38.6% |
| Stocks and contracts in progress | 3 | €41,417 | €24,454 | -€16,963 | -41.0% |
| Stocks | 30/36 | €41,417 | €24,454 | -€16,963 | -41.0% |
| Amounts receivable within one year | 40/41 | €546 | €498 | -€48 | -8.8% |
| Trade receivables | 40 | €527 | €498 | -€30 | -5.6% |
| Other amounts receivable | 41 | €19 | - | -€19 | |
| Cash at bank and in hand | 54/58 | €289 | €468 | +€179 | +61.9% |
| Deferred charges and accrued income | 490/1 | €1,637 | €1,520 | -€117 | -7.2% |
| Total equity and liabilities | 10/49 | €122,899 | €98,889 | -€24,010 | -19.5% |
| Equity | 10/15 | €91,985 | €72,761 | -€19,224 | -20.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,385 | €54,161 | -€19,224 | -26.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €71,525 | €52,301 | -€19,224 | -26.9% |
| Amounts payable | 17/49 | €30,914 | €26,128 | -€4,786 | -15.5% |
| Amounts payable after more than one year | 17 | €30,904 | €26,115 | -€4,789 | -15.5% |
| Other amounts payable | 178/9 | €30,904 | €26,115 | -€4,789 | -15.5% |
| Amounts payable within one year | 42/48 | €10 | €13 | +€2 | +23.7% |
| Trade debts | 44 | €10 | - | -€10 | |
| Suppliers | 440/4 | €10 | - | -€10 | |
| Taxes, remuneration and social security | 45 | - | €13 | +€13 | |
| Taxes | 450/3 | - | €13 | +€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,724 | €7,061 | -€6,662 | -48.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €127 | €14,496 | +€14,369 | +11320.4% |
| Other operating charges | 640/8 | €589 | €597 | +€8 | +1.4% |
| Gross operating margin | 9900 | €2,514 | €2,991 | +€478 | +19.0% |
| Operating profit (loss) | 9901 | -€11,926 | -€19,163 | -€7,237 | -60.7% |
| Financial income | 75/76B | €87 | - | -€87 | |
| Recurring financial income | 75 | €87 | - | -€87 | |
| Non-recurring financial income | 76B | €87 | - | -€87 | |
| Financial charges | 65/66B | €491 | €61 | -€430 | -87.5% |
| Recurring financial charges | 65 | €66 | €61 | -€5 | -7.4% |
| Non-recurring financial charges | 66B | €425 | - | -€425 | |
| Profit (loss) for the period before taxes | 9903 | -€12,330 | -€19,224 | -€6,894 | -55.9% |
| Profit (loss) for the period | 9904 | -€12,330 | -€19,224 | -€6,894 | -55.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,330 | -€19,224 | -€6,894 | -55.9% |
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 3 October 2026 via checked.be.