Managing Partners: 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.
Managing Partners
Largest movements
- Cash +€26,486
up €26,486 (+7.2%), from €367,750 to €394,235
mainly Net result for the year (+€112,652) and Other debts (+€39,152)
- Receivables within one year +€17,263
up €17,263 (+121%), from €14,210 to €31,473
of which Trade receivables: +€17,250
- Other debts +€39,152
up €39,152 (+39.6%), from €98,827 to €137,978
- Tax, wage and social debts +€34,628
up €34,628 (+323%), from €10,736 to €45,364
- Reserves -€25,326
down €25,326 (-4.9%), from €514,401 to €489,074
- Gross operating margin +€24,222
up €24,222 (+17.9%), from €135,351 to €159,573
- Taxes +€9,369
up €9,369 (+22.8%), from €41,092 to €50,460
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 | €644,234 | €693,268 | +€49,034 | +7.6% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Current assets | 29/58 | €644,234 | €693,268 | +€49,034 | +7.6% |
| Amounts receivable after more than one year | 29 | €262,000 | €262,000 | = | 0.0% |
| Trade receivables | 290 | €262,000 | €262,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,210 | €31,473 | +€17,263 | +121% |
| Trade receivables | 40 | - | €17,250 | +€17,250 | |
| Other amounts receivable | 41 | €14,210 | €14,223 | +€13 | +0.1% |
| Cash at bank and in hand | 54/58 | €367,750 | €394,235 | +€26,486 | +7.2% |
| Deferred charges and accrued income | 490/1 | €274 | €5,559 | +€5,285 | +1,931% |
| Total equity and liabilities | 10/49 | €644,234 | €693,268 | +€49,034 | +7.6% |
| Equity | 10/15 | €533,001 | €507,674 | -€25,326 | -4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €514,401 | €489,074 | -€25,326 | -4.9% |
| Distributable reserves | 133 | €514,401 | €489,074 | -€25,326 | -4.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €111,233 | €185,594 | +€74,361 | +66.9% |
| Amounts payable within one year | 42/48 | €111,233 | €185,594 | +€74,361 | +66.9% |
| Financial debts | 43 | €155 | €730 | +€575 | +371% |
| Credit institutions | 430/8 | €155 | €730 | +€575 | +371% |
| Trade debts | 44 | €1,515 | €1,522 | +€6 | +0.4% |
| Suppliers | 440/4 | €1,515 | €1,522 | +€6 | +0.4% |
| Taxes, remuneration and social security | 45 | €10,736 | €45,364 | +€34,628 | +323% |
| Taxes | 450/3 | €10,736 | €45,364 | +€34,628 | +323% |
| Other amounts payable | 47/48 | €98,827 | €137,978 | +€39,152 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189 | €0 | -€189 | -100% |
| Other operating charges | 640/8 | €629 | €1,091 | +€462 | +73.4% |
| Gross operating margin | 9900 | €135,351 | €159,573 | +€24,222 | +17.9% |
| Operating profit (loss) | 9901 | €134,533 | €158,482 | +€23,949 | +17.8% |
| Financial income | 75/76B | €4,916 | €5,065 | +€149 | +3.0% |
| Recurring financial income | 75 | €4,916 | €5,065 | +€149 | +3.0% |
| Financial charges | 65/66B | €255 | €435 | +€179 | +70.2% |
| Recurring financial charges | 65 | €255 | €435 | +€179 | +70.2% |
| Profit (loss) for the period before taxes | 9903 | €139,193 | €163,112 | +€23,919 | +17.2% |
| Income taxes | 67/77 | €41,092 | €50,460 | +€9,369 | +22.8% |
| Profit (loss) for the period | 9904 | €98,102 | €112,652 | +€14,550 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,102 | €112,652 | +€14,550 | +14.8% |
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 27 October 2026 via checked.be.