M.O.S.: 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.
M.O.S.
Largest movements
- Tangible fixed assets -€285,036
down €285,036 (-78.9%), from €361,236 to €76,200
of which Land and buildings: -€253,509
- Receivables after one year -€44,376
no longer reported in 2025 (was €44,376)
- Cash +€33,251
up €33,251 (+91.2%), from €36,459 to €69,710
mainly Investment in fixed assets (net) (+€267,647) and Receivables after one year (+€44,376)
- Receivables within one year -€9,017
down €9,017 (-60.8%), from €14,829 to €5,812
of which Other amounts receivable: -€7,176
- Debts after one year -€187,031
no longer reported in 2025 (was €187,031)
- Other debts -€73,536
down €73,536 (-72.8%), from €101,075 to €27,539
- Reserves -€25,772
down €25,772 (-22.3%), from €115,640 to €89,868
- Current portion of long-term debt -€9,704
down €9,704 (-76.9%), from €12,620 to €2,917
- Trade debts -€7,636
down €7,636 (-99.5%), from €7,678 to €42
- Depreciation -€9,174
down €9,174 (-34.5%), from €26,563 to €17,389
- Financial income -€6,102
down €6,102 (-94.7%), from €6,441 to €339
- Gross operating margin +€4,014
up €4,014 (+62.8%), from -€6,393 to -€2,379
- Financial charges +€737
up €737 (+21.8%), from €3,378 to €4,114
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 | €458,659 | €153,563 | -€305,096 | -66.5% |
| Fixed assets | 21/28 | €361,236 | €76,200 | -€285,036 | -78.9% |
| Tangible fixed assets | 22/27 | €361,236 | €76,200 | -€285,036 | -78.9% |
| Land and buildings | 22 | €253,509 | - | -€253,509 | |
| Plant, machinery and equipment | 23 | €7,162 | €5,984 | -€1,178 | -16.4% |
| Furniture and vehicles | 24 | €100,565 | €70,216 | -€30,350 | -30.2% |
| Current assets | 29/58 | €97,423 | €77,364 | -€20,060 | -20.6% |
| Amounts receivable after more than one year | 29 | €44,376 | - | -€44,376 | |
| Trade receivables | 290 | €44,376 | - | -€44,376 | |
| Amounts receivable within one year | 40/41 | €14,829 | €5,812 | -€9,017 | -60.8% |
| Trade receivables | 40 | €2,503 | €662 | -€1,841 | -73.5% |
| Other amounts receivable | 41 | €12,326 | €5,150 | -€7,176 | -58.2% |
| Cash at bank and in hand | 54/58 | €36,459 | €69,710 | +€33,251 | +91.2% |
| Deferred charges and accrued income | 490/1 | €1,759 | €1,842 | +€82 | +4.7% |
| Total equity and liabilities | 10/49 | €458,659 | €153,563 | -€305,096 | -66.5% |
| Equity | 10/15 | €147,742 | €121,970 | -€25,772 | -17.4% |
| Contributions | 10/11 | €32,102 | €32,102 | = | 0.0% |
| Reserves | 13 | €115,640 | €89,868 | -€25,772 | -22.3% |
| Distributable reserves | 133 | €115,640 | €89,868 | -€25,772 | -22.3% |
| Amounts payable | 17/49 | €310,917 | €31,593 | -€279,324 | -89.8% |
| Amounts payable after more than one year | 17 | €187,031 | - | -€187,031 | |
| Financial debts | 170/4 | €187,031 | - | -€187,031 | |
| Amounts payable within one year | 42/48 | €121,373 | €30,498 | -€90,875 | -74.9% |
| Current portion of amounts payable after more than one year | 42 | €12,620 | €2,917 | -€9,704 | -76.9% |
| Trade debts | 44 | €7,678 | €42 | -€7,636 | -99.5% |
| Suppliers | 440/4 | €7,678 | €42 | -€7,636 | -99.5% |
| Other amounts payable | 47/48 | €101,075 | €27,539 | -€73,536 | -72.8% |
| Accrued charges and deferred income | 492/3 | €2,513 | €1,095 | -€1,418 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,563 | €17,389 | -€9,174 | -34.5% |
| Other operating charges | 640/8 | €1,670 | €1,721 | +€52 | +3.1% |
| Gross operating margin | 9900 | -€6,393 | -€2,379 | +€4,014 | +62.8% |
| Operating profit (loss) | 9901 | -€34,626 | -€21,489 | +€13,136 | +37.9% |
| Financial income | 75/76B | €6,441 | €339 | -€6,102 | -94.7% |
| Recurring financial income | 75 | €6,441 | €339 | -€6,102 | -94.7% |
| Financial charges | 65/66B | €3,378 | €4,114 | +€737 | +21.8% |
| Recurring financial charges | 65 | €3,378 | €4,114 | +€737 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,563 | -€25,265 | +€6,298 | +20.0% |
| Income taxes | 67/77 | €499 | €507 | +€8 | +1.6% |
| Profit (loss) for the period | 9904 | -€32,061 | -€25,772 | +€6,290 | +19.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,061 | -€25,772 | +€6,290 | +19.6% |
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 29 October 2026 via checked.be.