Model-T: 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.
Model-T
Largest movements
- Cash +€43,612
up €43,612 (+50.6%), from €86,164 to €129,776
mainly Net result for the year (+€67,332) and Tax, wage and social debts (+€7,603)
- Tangible fixed assets +€25,908
up €25,908 (+2948.1%), from €879 to €26,787
of which Furniture and vehicles: +€22,831
- Receivables within one year +€5,222
up €5,222 (+34.6%), from €15,098 to €20,319
of which Trade receivables: +€5,244
- Reserves +€67,000
up €67,000 (+79.8%), from €84,000 to €151,000
- Tax, wage and social debts +€7,603
up €7,603 (+69.9%), from €10,870 to €18,472
- Gross operating margin +€46,477
up €46,477 (+108.4%), from €42,875 to €89,352
- Taxes +€9,657
up €9,657 (+109.5%), from €8,816 to €18,472
- Financial charges -€1,357
down €1,357 (-48.1%), from €2,820 to €1,463
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 | €102,140 | €177,610 | +€75,469 | +73.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €879 | €26,787 | +€25,908 | +2948.1% |
| Tangible fixed assets | 22/27 | €879 | €26,787 | +€25,908 | +2948.1% |
| Plant, machinery and equipment | 23 | €879 | €3,956 | +€3,078 | +350.2% |
| Furniture and vehicles | 24 | - | €22,831 | +€22,831 | |
| Current assets | 29/58 | €101,262 | €150,823 | +€49,561 | +48.9% |
| Amounts receivable within one year | 40/41 | €15,098 | €20,319 | +€5,222 | +34.6% |
| Trade receivables | 40 | €15,043 | €20,287 | +€5,244 | +34.9% |
| Other amounts receivable | 41 | €55 | €33 | -€22 | -40.4% |
| Cash at bank and in hand | 54/58 | €86,164 | €129,776 | +€43,612 | +50.6% |
| Deferred charges and accrued income | 490/1 | - | €727 | +€727 | |
| Total equity and liabilities | 10/49 | €102,140 | €177,610 | +€75,469 | +73.9% |
| Equity | 10/15 | €89,224 | €156,556 | +€67,332 | +75.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €84,000 | €151,000 | +€67,000 | +79.8% |
| Distributable reserves | 133 | €84,000 | €151,000 | +€67,000 | +79.8% |
| Profit (loss) carried forward | 14 | €224 | €556 | +€332 | +148.5% |
| Amounts payable | 17/49 | €12,917 | €21,054 | +€8,137 | +63.0% |
| Amounts payable within one year | 42/48 | €12,917 | €21,054 | +€8,137 | +63.0% |
| Financial debts | 43 | €92 | €1,640 | +€1,548 | +1682.6% |
| Credit institutions | 430/8 | €92 | €1,640 | +€1,548 | +1682.6% |
| Trade debts | 44 | €750 | €899 | +€149 | +19.8% |
| Suppliers | 440/4 | €750 | €899 | +€149 | +19.8% |
| Taxes, remuneration and social security | 45 | €10,870 | €18,472 | +€7,603 | +69.9% |
| Taxes | 450/3 | €10,870 | €18,472 | +€7,603 | +69.9% |
| Other amounts payable | 47/48 | €1,205 | €44 | -€1,162 | -96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,271 | €1,702 | +€431 | +33.9% |
| Other operating charges | 640/8 | €376 | €383 | +€6 | +1.7% |
| Gross operating margin | 9900 | €42,875 | €89,352 | +€46,477 | +108.4% |
| Operating profit (loss) | 9901 | €41,228 | €87,267 | +€46,039 | +111.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €2,820 | €1,463 | -€1,357 | -48.1% |
| Recurring financial charges | 65 | €2,820 | €1,463 | -€1,357 | -48.1% |
| Profit (loss) for the period before taxes | 9903 | €38,407 | €85,804 | +€47,397 | +123.4% |
| Income taxes | 67/77 | €8,816 | €18,472 | +€9,657 | +109.5% |
| Profit (loss) for the period | 9904 | €29,592 | €67,332 | +€37,740 | +127.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,592 | €67,332 | +€37,740 | +127.5% |
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 5 October 2026 via checked.be.