More.: what changed
More.
Largest movements
- Cash +€53,480
up €53,480 (+433%), from €12,354 to €65,834
mainly Debts after one year (+€54,715) and Trade debts (+€25,603)
- Receivables within one year +€44,256
up €44,256 (+93.4%), from €47,377 to €91,632
of which Other amounts receivable: +€39,447
- Tangible fixed assets +€22,379
up €22,379 (+146%), from €15,326 to €37,706
of which Leasing and similar rights: +€25,338
- Debts after one year +€54,715
new in 2025: €54,715
- Trade debts +€25,603
up €25,603 (+144%), from €17,763 to €43,365
- Short-term financial debts +€25,000
new in 2025: €25,000
- Profit (loss) carried forward -€17,523
down €17,523 (-63.0%), from €27,831 to €10,308
- Current portion of long-term debt +€15,014
new in 2025: €15,014
- Staff costs +€68,764
up €68,764 (+31.7%), from €216,817 to €285,581
- Gross operating margin +€52,038
up €52,038 (+22.9%), from €226,929 to €278,967
- Depreciation +€3,380
up €3,380 (+61.3%), from €5,511 to €8,891
- Taxes -€2,822
down €2,822 (-91.2%), from €3,094 to €273
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 | €77,322 | €198,941 | +€121,620 | +157% |
| Fixed assets | 21/28 | €15,326 | €37,706 | +€22,379 | +146% |
| Tangible fixed assets | 22/27 | €15,326 | €37,706 | +€22,379 | +146% |
| Plant, machinery and equipment | 23 | €1,168 | €851 | -€317 | -27.1% |
| Furniture and vehicles | 24 | €14,158 | €11,517 | -€2,641 | -18.7% |
| Leasing and similar rights | 25 | - | €25,338 | +€25,338 | |
| Current assets | 29/58 | €61,995 | €161,235 | +€99,240 | +160% |
| Amounts receivable within one year | 40/41 | €47,377 | €91,632 | +€44,256 | +93.4% |
| Trade receivables | 40 | €42,993 | €47,802 | +€4,809 | +11.2% |
| Other amounts receivable | 41 | €4,384 | €43,830 | +€39,447 | +900% |
| Cash at bank and in hand | 54/58 | €12,354 | €65,834 | +€53,480 | +433% |
| Deferred charges and accrued income | 490/1 | €2,264 | €3,769 | +€1,505 | +66.4% |
| Total equity and liabilities | 10/49 | €77,322 | €198,941 | +€121,620 | +157% |
| Equity | 10/15 | €37,831 | €20,308 | -€17,523 | -46.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,831 | €10,308 | -€17,523 | -63.0% |
| Amounts payable | 17/49 | €39,491 | €178,633 | +€139,142 | +352% |
| Amounts payable after more than one year | 17 | - | €54,715 | +€54,715 | |
| Financial debts | 170/4 | - | €54,715 | +€54,715 | |
| Amounts payable within one year | 42/48 | €37,204 | €117,340 | +€80,136 | +215% |
| Current portion of amounts payable after more than one year | 42 | - | €15,014 | +€15,014 | |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €17,763 | €43,365 | +€25,603 | +144% |
| Suppliers | 440/4 | €17,763 | €43,365 | +€25,603 | +144% |
| Taxes, remuneration and social security | 45 | €19,442 | €33,960 | +€14,518 | +74.7% |
| Taxes | 450/3 | €19,442 | €31,438 | +€11,996 | +61.7% |
| Remuneration and social security | 454/9 | - | €2,523 | +€2,523 | |
| Accrued charges and deferred income | 492/3 | €2,286 | €6,578 | +€4,292 | +188% |
| Remuneration, social security and pensions | 62 | €216,817 | €285,581 | +€68,764 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,511 | €8,891 | +€3,380 | +61.3% |
| Other operating charges | 640/8 | €894 | €1,333 | +€439 | +49.1% |
| Gross operating margin | 9900 | €226,929 | €278,967 | +€52,038 | +22.9% |
| Operating profit (loss) | 9901 | €3,707 | -€16,838 | -€20,545 | |
| Financial income | 75/76B | €43 | €1,003 | +€960 | +2,228% |
| Recurring financial income | 75 | €43 | €1,003 | +€960 | +2,228% |
| Financial charges | 65/66B | €578 | €1,416 | +€838 | +145% |
| Recurring financial charges | 65 | €578 | €1,416 | +€838 | +145% |
| Profit (loss) for the period before taxes | 9903 | €3,172 | -€17,250 | -€20,422 | |
| Income taxes | 67/77 | €3,094 | €273 | -€2,822 | -91.2% |
| Profit (loss) for the period | 9904 | €78 | -€17,523 | -€17,601 | |
| Profit (loss) for the period to be appropriated | 9905 | €78 | -€17,523 | -€17,601 |
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 2 November 2026 via checked.be.