LT & BR: 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.
LT & BR
Largest movements
- Financial fixed assets +€100,000
up €100,000 (+1000000.0%), from €10 to €100,010
- Cash -€61,979
down €61,979 (-32.4%), from €191,145 to €129,166
mainly Investment in fixed assets (net) (-€110,851) and Contributions, distributions and other (-€72,937)
- Tangible fixed assets -€26,719
down €26,719 (-8.2%), from €326,412 to €299,694
of which Land and buildings: -€24,122
- Receivables within one year -€13,403
down €13,403 (-37.7%), from €35,581 to €22,178
of which Trade receivables: -€9,075
- Current investments -€11,186
down €11,186 (-16.0%), from €70,000 to €58,814
- Debts after one year -€43,489
down €43,489 (-40.4%), from €107,616 to €64,127
- Other debts +€35,712
up €35,712 (+350.2%), from €10,197 to €45,909
- Reserves -€19,576
down €19,576 (-4.2%), from €469,294 to €449,718
of which Distributable reserves: -€19,576
- Gross operating margin +€18,347
up €18,347 (+17.3%), from €105,960 to €124,306
- Taxes +€4,465
up €4,465 (+25.2%), from €17,746 to €22,210
- Depreciation -€1,752
down €1,752 (-4.5%), from €39,322 to €37,569
- Financial income -€1,702
down €1,702 (-21.0%), from €8,088 to €6,386
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 | €689,155 | €664,790 | -€24,365 | -3.5% |
| Fixed assets | 21/28 | €326,422 | €399,704 | +€73,281 | +22.4% |
| Tangible fixed assets | 22/27 | €326,412 | €299,694 | -€26,719 | -8.2% |
| Land and buildings | 22 | €315,569 | €291,447 | -€24,122 | -7.6% |
| Plant, machinery and equipment | 23 | €343 | €0 | -€343 | -100.0% |
| Furniture and vehicles | 24 | €10,500 | €8,247 | -€2,253 | -21.5% |
| Financial fixed assets | 28 | €10 | €100,010 | +€100,000 | +1000000.0% |
| Current assets | 29/58 | €362,733 | €265,086 | -€97,647 | -26.9% |
| Amounts receivable after more than one year | 29 | €60,500 | €50,500 | -€10,000 | -16.5% |
| Other amounts receivable | 291 | €60,500 | €50,500 | -€10,000 | -16.5% |
| Amounts receivable within one year | 40/41 | €35,581 | €22,178 | -€13,403 | -37.7% |
| Trade receivables | 40 | €30,553 | €21,478 | -€9,075 | -29.7% |
| Other amounts receivable | 41 | €5,028 | €700 | -€4,328 | -86.1% |
| Current investments | 50/53 | €70,000 | €58,814 | -€11,186 | -16.0% |
| Cash at bank and in hand | 54/58 | €191,145 | €129,166 | -€61,979 | -32.4% |
| Deferred charges and accrued income | 490/1 | €5,507 | €4,428 | -€1,078 | -19.6% |
| Total equity and liabilities | 10/49 | €689,155 | €664,790 | -€24,365 | -3.5% |
| Equity | 10/15 | €481,902 | €462,326 | -€19,576 | -4.1% |
| Contributions | 10/11 | €12,608 | €12,608 | = | 0.0% |
| Reserves | 13 | €469,294 | €449,718 | -€19,576 | -4.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €469,294 | €449,718 | -€19,576 | -4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €9,355 | €9,355 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,355 | €9,355 | = | 0.0% |
| Pensions and similar obligations | 160 | €9,355 | €9,355 | = | 0.0% |
| Amounts payable | 17/49 | €197,898 | €193,109 | -€4,789 | -2.4% |
| Amounts payable after more than one year | 17 | €107,616 | €64,127 | -€43,489 | -40.4% |
| Financial debts | 170/4 | €107,616 | €64,127 | -€43,489 | -40.4% |
| Amounts payable within one year | 42/48 | €90,282 | €127,439 | +€37,157 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €41,866 | €43,489 | +€1,624 | +3.9% |
| Financial debts | 43 | €20,000 | €18,238 | -€1,762 | -8.8% |
| Credit institutions | 430/8 | €20,000 | €18,238 | -€1,762 | -8.8% |
| Trade debts | 44 | €2,173 | €2,674 | +€501 | +23.1% |
| Suppliers | 440/4 | €2,173 | €2,674 | +€501 | +23.1% |
| Taxes, remuneration and social security | 45 | €16,046 | €17,129 | +€1,083 | +6.7% |
| Taxes | 450/3 | €16,046 | €17,129 | +€1,083 | +6.7% |
| Other amounts payable | 47/48 | €10,197 | €45,909 | +€35,712 | +350.2% |
| Accrued charges and deferred income | 492/3 | - | €1,543 | +€1,543 | |
| Non-recurring operating income | 76A | €8,250 | €0 | -€8,250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,322 | €37,569 | -€1,752 | -4.5% |
| Other operating charges | 640/8 | €6,181 | €6,468 | +€287 | +4.6% |
| Gross operating margin | 9900 | €105,960 | €124,306 | +€18,347 | +17.3% |
| Operating profit (loss) | 9901 | €60,457 | €80,269 | +€19,812 | +32.8% |
| Financial income | 75/76B | €8,088 | €6,386 | -€1,702 | -21.0% |
| Recurring financial income | 75 | €8,088 | €6,386 | -€1,702 | -21.0% |
| Financial charges | 65/66B | €9,870 | €11,084 | +€1,214 | +12.3% |
| Recurring financial charges | 65 | €9,870 | €11,084 | +€1,214 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €58,675 | €75,571 | +€16,895 | +28.8% |
| Income taxes | 67/77 | €17,746 | €22,210 | +€4,465 | +25.2% |
| Profit (loss) for the period | 9904 | €40,930 | €53,360 | +€12,431 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,930 | €53,360 | +€12,431 | +30.4% |
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 5 October 2026 via checked.be.