MANAGEMENT SPARK: 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.
MANAGEMENT SPARK
Largest movements
- Cash -€42,324
down €42,324 (-36.8%), from €115,021 to €72,697
mainly Trade debts (-€77,569) and Contributions, distributions and other (-€54,000)
- Tangible fixed assets +€9,600
new in 2025: €9,600
- Receivables within one year +€5,975
up €5,975 (+7.6%), from €78,610 to €84,585
of which Trade receivables: +€3,418
- Trade debts -€77,569
down €77,569 (-52.0%), from €149,196 to €71,626
- Other debts +€45,000
up €45,000 (+500%), from €9,000 to €54,000
- Reserves +€4,464
up €4,464 (+27.9%), from €16,014 to €20,478
- Advances received +€4,064
up €4,064, from €0 to €4,064
- Tax, wage and social debts -€2,702
down €2,702 (-65.9%), from €4,098 to €1,396
- Gross operating margin +€56,744
up €56,744 (+360%), from €15,762 to €72,506
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 | €196,908 | €170,164 | -€26,744 | -13.6% |
| Fixed assets | 21/28 | €1,560 | €10,160 | +€8,600 | +551% |
| Intangible fixed assets | 21 | €1,560 | €560 | -€1,000 | -64.1% |
| Tangible fixed assets | 22/27 | - | €9,600 | +€9,600 | |
| Assets under construction and advance payments | 27 | - | €9,600 | +€9,600 | |
| Current assets | 29/58 | €195,348 | €160,004 | -€35,344 | -18.1% |
| Amounts receivable within one year | 40/41 | €78,610 | €84,585 | +€5,975 | +7.6% |
| Trade receivables | 40 | €78,610 | €82,028 | +€3,418 | +4.3% |
| Other amounts receivable | 41 | €0 | €2,556 | +€2,556 | |
| Cash at bank and in hand | 54/58 | €115,021 | €72,697 | -€42,324 | -36.8% |
| Deferred charges and accrued income | 490/1 | €1,717 | €2,722 | +€1,005 | +58.5% |
| Total equity and liabilities | 10/49 | €196,908 | €170,164 | -€26,744 | -13.6% |
| Equity | 10/15 | €34,614 | €39,078 | +€4,464 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,014 | €20,478 | +€4,464 | +27.9% |
| Distributable reserves | 133 | €16,014 | €20,478 | +€4,464 | +27.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €162,294 | €131,086 | -€31,208 | -19.2% |
| Amounts payable within one year | 42/48 | €162,294 | €131,086 | -€31,208 | -19.2% |
| Trade debts | 44 | €149,196 | €71,626 | -€77,569 | -52.0% |
| Suppliers | 440/4 | €149,196 | €71,626 | -€77,569 | -52.0% |
| Advances received on contracts in progress | 46 | €0 | €4,064 | +€4,064 | |
| Taxes, remuneration and social security | 45 | €4,098 | €1,396 | -€2,702 | -65.9% |
| Taxes | 450/3 | €4,098 | €1,396 | -€2,702 | -65.9% |
| Other amounts payable | 47/48 | €9,000 | €54,000 | +€45,000 | +500% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | - | €10,000 | +€10,000 | |
| Gross operating margin | 9900 | €15,762 | €72,506 | +€56,744 | +360% |
| Operating profit (loss) | 9901 | €14,256 | €60,986 | +€46,730 | +328% |
| Financial charges | 65/66B | €156 | €126 | -€30 | -19.2% |
| Recurring financial charges | 65 | €156 | €126 | -€30 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €14,100 | €60,860 | +€46,760 | +332% |
| Income taxes | 67/77 | €2,125 | €2,396 | +€272 | +12.8% |
| Profit (loss) for the period | 9904 | €11,976 | €58,464 | +€46,488 | +388% |
| Profit (loss) for the period to be appropriated | 9905 | €11,976 | €58,464 | +€46,488 | +388% |
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 18 October 2026 via checked.be.