MEASURES: 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.
MEASURES
Largest movements
- Tangible fixed assets +€19,491
up €19,491 (+34.2%), from €56,922 to €76,413
of which Other tangible fixed assets: +€22,568
- Cash -€13,924
down €13,924 (-15.9%), from €87,815 to €73,891
mainly Investment in fixed assets (net) (-€30,486) and Trade debts (-€21,369)
- Receivables within one year +€6,408
up €6,408 (+17.1%), from €37,425 to €43,833
of which Trade receivables: +€5,409
- Reserves +€37,197
up €37,197 (+64.4%), from €57,792 to €94,988
of which Distributable reserves: +€37,197
- Trade debts -€21,369
down €21,369 (-81.8%), from €26,122 to €4,753
- Tax, wage and social debts -€3,660
down €3,660 (-27.8%), from €13,157 to €9,497
- Taxes +€5,575
up €5,575 (+64.3%), from €8,672 to €14,247
- Depreciation +€3,531
up €3,531 (+47.3%), from €7,465 to €10,995
- Gross operating margin -€1,147
down €1,147 (-1.8%), from €63,420 to €62,273
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 | €182,404 | €194,779 | +€12,375 | +6.8% |
| Fixed assets | 21/28 | €57,164 | €76,655 | +€19,491 | +34.1% |
| Tangible fixed assets | 22/27 | €56,922 | €76,413 | +€19,491 | +34.2% |
| Plant, machinery and equipment | 23 | - | €1,223 | +€1,223 | |
| Furniture and vehicles | 24 | €6,516 | €2,216 | -€4,300 | -66.0% |
| Other tangible fixed assets | 26 | €50,406 | €72,973 | +€22,568 | +44.8% |
| Financial fixed assets | 28 | €242 | €242 | = | 0.0% |
| Current assets | 29/58 | €125,240 | €118,124 | -€7,116 | -5.7% |
| Amounts receivable within one year | 40/41 | €37,425 | €43,833 | +€6,408 | +17.1% |
| Trade receivables | 40 | €18,167 | €23,576 | +€5,409 | +29.8% |
| Other amounts receivable | 41 | €19,258 | €20,257 | +€999 | +5.2% |
| Cash at bank and in hand | 54/58 | €87,815 | €73,891 | -€13,924 | -15.9% |
| Deferred charges and accrued income | 490/1 | - | €400 | +€400 | |
| Total equity and liabilities | 10/49 | €182,404 | €194,779 | +€12,375 | +6.8% |
| Equity | 10/15 | €143,125 | €180,322 | +€37,197 | +26.0% |
| Contributions | 10/11 | €96,250 | €96,250 | = | 0.0% |
| Reserves | 13 | €57,792 | €94,988 | +€37,197 | +64.4% |
| Non-distributable reserves | 130/1 | €10,860 | €10,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,860 | €10,860 | = | 0.0% |
| Distributable reserves | 133 | €46,932 | €84,128 | +€37,197 | +79.3% |
| Profit (loss) carried forward | 14 | -€10,917 | -€10,917 | = | 0.0% |
| Amounts payable | 17/49 | €39,279 | €14,457 | -€24,822 | -63.2% |
| Amounts payable within one year | 42/48 | €39,279 | €14,250 | -€25,029 | -63.7% |
| Trade debts | 44 | €26,122 | €4,753 | -€21,369 | -81.8% |
| Suppliers | 440/4 | €26,122 | €4,753 | -€21,369 | -81.8% |
| Taxes, remuneration and social security | 45 | €13,157 | €9,497 | -€3,660 | -27.8% |
| Taxes | 450/3 | €13,157 | €9,497 | -€3,660 | -27.8% |
| Accrued charges and deferred income | 492/3 | - | €208 | +€208 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,465 | €10,995 | +€3,531 | +47.3% |
| Other operating charges | 640/8 | €904 | €672 | -€232 | -25.7% |
| Gross operating margin | 9900 | €63,420 | €62,273 | -€1,147 | -1.8% |
| Operating profit (loss) | 9901 | €55,052 | €50,606 | -€4,446 | -8.1% |
| Financial income | 75/76B | €754 | €1,209 | +€455 | +60.4% |
| Recurring financial income | 75 | €754 | €1,209 | +€455 | +60.4% |
| Financial charges | 65/66B | €202 | €371 | +€169 | +83.6% |
| Recurring financial charges | 65 | €202 | €371 | +€169 | +83.6% |
| Profit (loss) for the period before taxes | 9903 | €55,603 | €51,443 | -€4,160 | -7.5% |
| Income taxes | 67/77 | €8,672 | €14,247 | +€5,575 | +64.3% |
| Profit (loss) for the period | 9904 | €46,932 | €37,197 | -€9,735 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,932 | €37,197 | -€9,735 | -20.7% |
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 11 October 2026 via checked.be.