MENU BG: what changed
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Largest movements
- Receivables within one year +€55,468
up €55,468 (+287%), from €19,300 to €74,768
of which Trade receivables: +€42,748
- Cash -€29,090
down €29,090 (-76.8%), from €37,894 to €8,805
mainly Receivables within one year (-€55,468) and Debts after one year (-€12,750)
- Tangible fixed assets -€23,585
down €23,585 (-13.4%), from €175,895 to €152,310
of which Land and buildings: -€16,597
- Deferred charges and accrued income +€4,424
up €4,424 (+218%), from €2,034 to €6,458
- Trade debts +€23,863
up €23,863 (+80.9%), from €29,507 to €53,370
- Debts after one year -€12,750
down €12,750 (-12.4%), from €102,989 to €90,239
- Other debts +€8,875
up €8,875 (+45.9%), from €19,354 to €28,230
- Tax, wage and social debts -€6,232
down €6,232 (-56.4%), from €11,046 to €4,813
of which Remuneration and social security: -€4,450
- Profit (loss) carried forward -€3,979
down €3,979 (-16.0%), from -€24,863 to -€28,841
- Staff costs +€26,614
up €26,614 (+49.4%), from €53,845 to €80,459
- Gross operating margin +€17,390
up €17,390 (+18.9%), from €92,038 to €109,428
- Depreciation -€9,454
down €9,454 (-28.6%), from €33,039 to €23,585
- Other operating charges -€2,116
down €2,116 (-47.6%), from €4,445 to €2,330
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,923 | €246,141 | +€7,218 | +3.0% |
| Fixed assets | 21/28 | €176,695 | €153,110 | -€23,585 | -13.3% |
| Tangible fixed assets | 22/27 | €175,895 | €152,310 | -€23,585 | -13.4% |
| Land and buildings | 22 | €168,907 | €152,310 | -€16,597 | -9.8% |
| Furniture and vehicles | 24 | €6,839 | - | -€6,839 | |
| Other tangible fixed assets | 26 | €149 | - | -€149 | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €62,228 | €93,031 | +€30,803 | +49.5% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €19,300 | €74,768 | +€55,468 | +287% |
| Trade receivables | 40 | €17,373 | €60,121 | +€42,748 | +246% |
| Other amounts receivable | 41 | €1,927 | €14,647 | +€12,720 | +660% |
| Cash at bank and in hand | 54/58 | €37,894 | €8,805 | -€29,090 | -76.8% |
| Deferred charges and accrued income | 490/1 | €2,034 | €6,458 | +€4,424 | +218% |
| Total equity and liabilities | 10/49 | €238,923 | €246,141 | +€7,218 | +3.0% |
| Equity | 10/15 | €60,088 | €56,109 | -€3,979 | -6.6% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €78,550 | €78,550 | = | 0.0% |
| Distributable reserves | 133 | €78,550 | €78,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,863 | -€28,841 | -€3,979 | -16.0% |
| Amounts payable | 17/49 | €178,835 | €190,031 | +€11,197 | +6.3% |
| Amounts payable after more than one year | 17 | €102,989 | €90,239 | -€12,750 | -12.4% |
| Financial debts | 170/4 | €102,989 | €90,239 | -€12,750 | -12.4% |
| Amounts payable within one year | 42/48 | €75,216 | €99,162 | +€23,946 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €15,309 | €12,750 | -€2,559 | -16.7% |
| Trade debts | 44 | €29,507 | €53,370 | +€23,863 | +80.9% |
| Suppliers | 440/4 | €29,507 | €53,370 | +€23,863 | +80.9% |
| Taxes, remuneration and social security | 45 | €11,046 | €4,813 | -€6,232 | -56.4% |
| Taxes | 450/3 | €3,989 | €2,208 | -€1,782 | -44.7% |
| Remuneration and social security | 454/9 | €7,056 | €2,606 | -€4,450 | -63.1% |
| Other amounts payable | 47/48 | €19,354 | €28,230 | +€8,875 | +45.9% |
| Accrued charges and deferred income | 492/3 | €630 | €630 | = | 0.0% |
| Non-recurring operating income | 76A | - | €6,199 | +€6,199 | |
| Remuneration, social security and pensions | 62 | €53,845 | €80,459 | +€26,614 | +49.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,039 | €23,585 | -€9,454 | -28.6% |
| Other operating charges | 640/8 | €4,445 | €2,330 | -€2,116 | -47.6% |
| Gross operating margin | 9900 | €92,038 | €109,428 | +€17,390 | +18.9% |
| Operating profit (loss) | 9901 | €709 | €3,054 | +€2,345 | +331% |
| Financial income | 75/76B | €20 | €6 | -€13 | -67.7% |
| Recurring financial income | 75 | €20 | €6 | -€13 | -67.7% |
| Financial charges | 65/66B | €6,398 | €7,039 | +€641 | +10.0% |
| Recurring financial charges | 65 | €6,398 | €7,039 | +€641 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,669 | -€3,978 | +€1,691 | +29.8% |
| Income taxes | 67/77 | €0 | €1 | +€0 | +61.4% |
| Profit (loss) for the period | 9904 | -€5,669 | -€3,979 | +€1,691 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,669 | -€3,979 | +€1,691 | +29.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.