M & V: 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.
M & V
Largest movements
- Financial fixed assets +€102,000
new in 2025: €102,000
- Tangible fixed assets -€5,400
down €5,400 (-16.1%), from €33,572 to €28,172
- Other debts +€105,028
up €105,028 (+681.2%), from €15,419 to €120,447
- Profit (loss) carried forward -€6,043
down €6,043 (-42.5%), from €14,209 to €8,166
- Provisions +€20,000
up €20,000, from -€20,000 to €0
- Gross operating margin +€4,113
up €4,113, from -€2,384 to €1,729
- Financial charges +€1,014
up €1,014 (+1469.2%), from €69 to €1,083
- Other operating charges +€55
up €55 (+4.5%), from €1,234 to €1,289
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 | €39,313 | €137,205 | +€97,892 | +249.0% |
| Fixed assets | 21/28 | €33,572 | €130,172 | +€96,600 | +287.7% |
| Tangible fixed assets | 22/27 | €33,572 | €28,172 | -€5,400 | -16.1% |
| Land and buildings | 22 | €33,572 | €28,172 | -€5,400 | -16.1% |
| Financial fixed assets | 28 | - | €102,000 | +€102,000 | |
| Current assets | 29/58 | €5,741 | €7,032 | +€1,292 | +22.5% |
| Amounts receivable within one year | 40/41 | €20 | €20 | = | 0.0% |
| Other amounts receivable | 41 | €20 | €20 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,469 | €6,755 | +€1,285 | +23.5% |
| Deferred charges and accrued income | 490/1 | €251 | €258 | +€6 | +2.5% |
| Total equity and liabilities | 10/49 | €39,313 | €137,205 | +€97,892 | +249.0% |
| Equity | 10/15 | €22,273 | €16,230 | -€6,043 | -27.1% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,209 | €8,166 | -€6,043 | -42.5% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €17,040 | €120,975 | +€103,935 | +610.0% |
| Amounts payable within one year | 42/48 | €15,419 | €120,447 | +€105,028 | +681.2% |
| Other amounts payable | 47/48 | €15,419 | €120,447 | +€105,028 | +681.2% |
| Accrued charges and deferred income | 492/3 | €1,621 | €528 | -€1,093 | -67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,400 | €5,400 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,000 | €0 | +€20,000 | |
| Other operating charges | 640/8 | €1,234 | €1,289 | +€55 | +4.5% |
| Gross operating margin | 9900 | -€2,384 | €1,729 | +€4,113 | |
| Operating profit (loss) | 9901 | €10,982 | -€4,960 | -€15,943 | |
| Financial charges | 65/66B | €69 | €1,083 | +€1,014 | +1469.2% |
| Recurring financial charges | 65 | €69 | €1,083 | +€1,014 | +1469.2% |
| Profit (loss) for the period before taxes | 9903 | €10,913 | -€6,043 | -€16,957 | |
| Profit (loss) for the period | 9904 | €10,913 | -€6,043 | -€16,957 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,913 | -€6,043 | -€16,957 |
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 6 October 2026 via checked.be.