Make it Work C-Two: 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.
Make it Work C-Two
Largest movements
- Tangible fixed assets +€129,539
up €129,539 (+75.8%), from €170,982 to €300,521
of which Land and buildings: +€121,689
- Current investments +€99,850
new in 2025: €99,850
- Cash +€75,687
up €75,687 (+35.2%), from €215,127 to €290,814
mainly Net result for the year (+€235,812) and Debts after one year (+€76,545)
- Stocks and contracts +€45,500
new in 2025: €45,500
- Receivables within one year +€15,710
up €15,710 (+33.8%), from €46,510 to €62,221
of which Trade receivables: +€24,464
- Reserves +€195,812
up €195,812 (+147.2%), from €132,997 to €328,809
- Debts after one year +€76,545
up €76,545 (+73.2%), from €104,521 to €181,066
of which Financial debts: +€84,545
- Current portion of long-term debt +€30,939
up €30,939 (+74.2%), from €41,671 to €72,609
- Tax, wage and social debts +€27,865
up €27,865 (+187.8%), from €14,837 to €42,702
- Other debts +€25,479
up €25,479 (+22.2%), from €115,000 to €140,479
- Gross operating margin +€190,042
up €190,042 (+95.1%), from €199,907 to €389,949
- Taxes +€67,301
up €67,301 (+180.5%), from €37,294 to €104,596
- Depreciation +€12,688
up €12,688 (+50.5%), from €25,105 to €37,793
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 | €435,131 | €801,572 | +€366,440 | +84.2% |
| Fixed assets | 21/28 | €170,982 | €300,521 | +€129,539 | +75.8% |
| Tangible fixed assets | 22/27 | €170,982 | €300,521 | +€129,539 | +75.8% |
| Land and buildings | 22 | €125,736 | €247,425 | +€121,689 | +96.8% |
| Plant, machinery and equipment | 23 | €13,916 | €29,868 | +€15,952 | +114.6% |
| Furniture and vehicles | 24 | €31,331 | €23,228 | -€8,103 | -25.9% |
| Current assets | 29/58 | €264,149 | €501,051 | +€236,902 | +89.7% |
| Stocks and contracts in progress | 3 | - | €45,500 | +€45,500 | |
| Stocks | 30/36 | - | €45,500 | +€45,500 | |
| Amounts receivable within one year | 40/41 | €46,510 | €62,221 | +€15,710 | +33.8% |
| Trade receivables | 40 | €37,499 | €61,963 | +€24,464 | +65.2% |
| Other amounts receivable | 41 | €9,011 | €257 | -€8,754 | -97.1% |
| Current investments | 50/53 | - | €99,850 | +€99,850 | |
| Cash at bank and in hand | 54/58 | €215,127 | €290,814 | +€75,687 | +35.2% |
| Deferred charges and accrued income | 490/1 | €2,512 | €2,666 | +€154 | +6.1% |
| Total equity and liabilities | 10/49 | €435,131 | €801,572 | +€366,440 | +84.2% |
| Equity | 10/15 | €151,597 | €347,409 | +€195,812 | +129.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €132,997 | €328,809 | +€195,812 | +147.2% |
| Distributable reserves | 133 | €132,997 | €328,809 | +€195,812 | +147.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €283,534 | €454,162 | +€170,628 | +60.2% |
| Amounts payable after more than one year | 17 | €104,521 | €181,066 | +€76,545 | +73.2% |
| Financial debts | 170/4 | €40,521 | €125,066 | +€84,545 | +208.6% |
| Other amounts payable | 178/9 | €64,000 | €56,000 | -€8,000 | -12.5% |
| Amounts payable within one year | 42/48 | €177,555 | €272,096 | +€94,541 | +53.2% |
| Current portion of amounts payable after more than one year | 42 | €41,671 | €72,609 | +€30,939 | +74.2% |
| Trade debts | 44 | €6,047 | €16,306 | +€10,259 | +169.6% |
| Suppliers | 440/4 | €6,047 | €16,306 | +€10,259 | +169.6% |
| Taxes, remuneration and social security | 45 | €14,837 | €42,702 | +€27,865 | +187.8% |
| Taxes | 450/3 | €14,837 | €42,702 | +€27,865 | +187.8% |
| Other amounts payable | 47/48 | €115,000 | €140,479 | +€25,479 | +22.2% |
| Accrued charges and deferred income | 492/3 | €1,458 | €1,000 | -€458 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,105 | €37,793 | +€12,688 | +50.5% |
| Other operating charges | 640/8 | €3,727 | €3,895 | +€168 | +4.5% |
| Gross operating margin | 9900 | €199,907 | €389,949 | +€190,042 | +95.1% |
| Operating profit (loss) | 9901 | €171,075 | €348,261 | +€177,186 | +103.6% |
| Financial income | 75/76B | €964 | €1,229 | +€265 | +27.4% |
| Recurring financial income | 75 | €964 | €1,229 | +€265 | +27.4% |
| Financial charges | 65/66B | €8,597 | €9,083 | +€486 | +5.7% |
| Recurring financial charges | 65 | €8,597 | €9,083 | +€486 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €163,443 | €340,407 | +€176,965 | +108.3% |
| Income taxes | 67/77 | €37,294 | €104,596 | +€67,301 | +180.5% |
| Profit (loss) for the period | 9904 | €126,149 | €235,812 | +€109,663 | +86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €126,149 | €235,812 | +€109,663 | +86.9% |
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 8 October 2026 via checked.be.