LOOKAHEAD: 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.
LOOKAHEAD
Largest movements
- Cash -€248,609
down €248,609 (-81.7%), from €304,250 to €55,640
mainly Contributions, distributions and other (-€345,000) and Tax, wage and social debts (-€39,494)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€14,380
up €14,380 (+58.4%), from €24,609 to €38,990
of which Trade receivables: +€9,207
- Tangible fixed assets -€5,995
down €5,995 (-42.1%), from €14,237 to €8,243
of which Furniture and vehicles: -€5,176
- Profit (loss) carried forward -€289,680
down €289,680 (-83.0%), from €349,001 to €59,321
- Tax, wage and social debts -€39,494
down €39,494 (-97.7%), from €40,408 to €914
of which Taxes: -€36,394
- Advances received +€39,204
new in 2025: €39,204
- Gross operating margin -€59,458
down €59,458 (-44.0%), from €135,212 to €75,754
- Taxes -€14,438
down €14,438 (-48.6%), from €29,710 to €15,272
- Financial income -€2,423
down €2,423 (-62.1%), from €3,903 to €1,481
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 | €393,282 | €103,044 | -€290,238 | -73.8% |
| Fixed assets | 21/28 | €14,237 | €8,243 | -€5,995 | -42.1% |
| Tangible fixed assets | 22/27 | €14,237 | €8,243 | -€5,995 | -42.1% |
| Plant, machinery and equipment | 23 | €1,293 | €915 | -€378 | -29.2% |
| Furniture and vehicles | 24 | €9,575 | €4,400 | -€5,176 | -54.1% |
| Other tangible fixed assets | 26 | €3,370 | €2,929 | -€441 | -13.1% |
| Current assets | 29/58 | €379,044 | €94,801 | -€284,244 | -75.0% |
| Amounts receivable within one year | 40/41 | €24,609 | €38,990 | +€14,380 | +58.4% |
| Trade receivables | 40 | €24,006 | €33,213 | +€9,207 | +38.4% |
| Other amounts receivable | 41 | €604 | €5,777 | +€5,173 | +856.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €304,250 | €55,640 | -€248,609 | -81.7% |
| Deferred charges and accrued income | 490/1 | €185 | €170 | -€15 | -8.0% |
| Total equity and liabilities | 10/49 | €393,282 | €103,044 | -€290,238 | -73.8% |
| Equity | 10/15 | €352,001 | €62,321 | -€289,680 | -82.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €349,001 | €59,321 | -€289,680 | -83.0% |
| Amounts payable | 17/49 | €41,281 | €40,722 | -€559 | -1.4% |
| Amounts payable within one year | 42/48 | €41,281 | €40,722 | -€559 | -1.4% |
| Trade debts | 44 | €873 | €604 | -€268 | -30.8% |
| Suppliers | 440/4 | €873 | €604 | -€268 | -30.8% |
| Advances received on contracts in progress | 46 | - | €39,204 | +€39,204 | |
| Taxes, remuneration and social security | 45 | €40,408 | €914 | -€39,494 | -97.7% |
| Taxes | 450/3 | €37,308 | €914 | -€36,394 | -97.5% |
| Remuneration and social security | 454/9 | €3,100 | - | -€3,100 | |
| Non-recurring operating income | 76A | €2,968 | - | -€2,968 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,603 | €5,995 | +€391 | +7.0% |
| Other operating charges | 640/8 | €274 | €355 | +€81 | +29.5% |
| Gross operating margin | 9900 | €135,212 | €75,754 | -€59,458 | -44.0% |
| Operating profit (loss) | 9901 | €129,335 | €69,404 | -€59,931 | -46.3% |
| Financial income | 75/76B | €3,903 | €1,481 | -€2,423 | -62.1% |
| Recurring financial income | 75 | €3,903 | €1,481 | -€2,423 | -62.1% |
| Financial charges | 65/66B | €274 | €293 | +€19 | +6.8% |
| Recurring financial charges | 65 | €274 | €293 | +€19 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €132,964 | €70,592 | -€62,372 | -46.9% |
| Income taxes | 67/77 | €29,710 | €15,272 | -€14,438 | -48.6% |
| Profit (loss) for the period | 9904 | €103,254 | €55,320 | -€47,934 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €103,254 | €55,320 | -€47,934 | -46.4% |
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.