MODUUL: 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.
MODUUL
Largest movements
- Tangible fixed assets -€8,306
down €8,306 (-1.5%), from €567,814 to €559,508
of which Land and buildings: -€18,120
- Cash -€7,669
down €7,669 (-58.7%), from €13,071 to €5,402
mainly Debts after one year (-€23,601) and Investment in fixed assets (net) (-€16,664)
- Debts after one year -€23,601
down €23,601 (-13.6%), from €173,930 to €150,329
- Other operating charges +€5,502
up €5,502 (+174.6%), from €3,151 to €8,653
- Gross operating margin -€5,126
down €5,126 (-10.3%), from €49,696 to €44,570
- Taxes -€3,733
down €3,733 (-61.8%), from €6,037 to €2,305
- Depreciation +€1,272
up €1,272 (+5.4%), from €23,699 to €24,971
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 | €585,904 | €571,500 | -€14,404 | -2.5% |
| Fixed assets | 21/28 | €567,814 | €559,508 | -€8,306 | -1.5% |
| Tangible fixed assets | 22/27 | €567,814 | €559,508 | -€8,306 | -1.5% |
| Land and buildings | 22 | €565,637 | €547,517 | -€18,120 | -3.2% |
| Plant, machinery and equipment | 23 | €939 | €695 | -€244 | -26.0% |
| Furniture and vehicles | 24 | €1,239 | €11,296 | +€10,058 | +812.0% |
| Current assets | 29/58 | €18,090 | €11,992 | -€6,097 | -33.7% |
| Amounts receivable within one year | 40/41 | €4,134 | €5,227 | +€1,093 | +26.4% |
| Trade receivables | 40 | €839 | €201 | -€638 | -76.1% |
| Other amounts receivable | 41 | €3,296 | €5,027 | +€1,731 | +52.5% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,071 | €5,402 | -€7,669 | -58.7% |
| Deferred charges and accrued income | 490/1 | €634 | €1,113 | +€479 | +75.6% |
| Total equity and liabilities | 10/49 | €585,904 | €571,500 | -€14,404 | -2.5% |
| Equity | 10/15 | €384,118 | €389,653 | +€5,535 | +1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €377,918 | €383,453 | +€5,535 | +1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,750 | €26,750 | = | 0.0% |
| Distributable reserves | 133 | €349,308 | €354,843 | +€5,535 | +1.6% |
| Amounts payable | 17/49 | €201,786 | €181,848 | -€19,938 | -9.9% |
| Amounts payable after more than one year | 17 | €173,930 | €150,329 | -€23,601 | -13.6% |
| Financial debts | 170/4 | €173,930 | €150,329 | -€23,601 | -13.6% |
| Amounts payable within one year | 42/48 | €27,856 | €31,519 | +€3,663 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €23,271 | €23,601 | +€330 | +1.4% |
| Trade debts | 44 | €1,669 | €1,484 | -€184 | -11.0% |
| Suppliers | 440/4 | €1,669 | €1,484 | -€184 | -11.0% |
| Taxes, remuneration and social security | 45 | €2,816 | €2,833 | +€17 | +0.6% |
| Taxes | 450/3 | €2,816 | €2,833 | +€17 | +0.6% |
| Other amounts payable | 47/48 | €100 | €3,600 | +€3,500 | +3500.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,699 | €24,971 | +€1,272 | +5.4% |
| Other operating charges | 640/8 | €3,151 | €8,653 | +€5,502 | +174.6% |
| Gross operating margin | 9900 | €49,696 | €44,570 | -€5,126 | -10.3% |
| Operating profit (loss) | 9901 | €22,846 | €10,946 | -€11,900 | -52.1% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €3,339 | €3,107 | -€232 | -6.9% |
| Recurring financial charges | 65 | €3,339 | €3,107 | -€232 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €19,518 | €7,839 | -€11,678 | -59.8% |
| Income taxes | 67/77 | €6,037 | €2,305 | -€3,733 | -61.8% |
| Profit (loss) for the period | 9904 | €13,480 | €5,535 | -€7,946 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,480 | €5,535 | -€7,946 | -58.9% |
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.