N.B.: 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.
N.B.
Largest movements
- Tangible fixed assets -€63,265
down €63,265 (-11.2%), from €565,115 to €501,851
of which Other tangible fixed assets: -€32,839
- Receivables within one year -€13,512
down €13,512 (-55.5%), from €24,344 to €10,832
of which Trade receivables: -€12,024
- Debts after one year -€85,156
down €85,156 (-28.4%), from €299,716 to €214,560
- Tax, wage and social debts -€28,029
down €28,029 (-21.7%), from €129,043 to €101,013
of which Remuneration and social security: -€35,114
- Other debts +€19,524
up €19,524 (+15.7%), from €124,163 to €143,687
- Profit (loss) carried forward +€13,992
up €13,992 (+54.6%), from €25,641 to €39,633
- Gross operating margin -€217,378
down €217,378 (-22.7%), from €957,703 to €740,325
- Staff costs -€166,505
down €166,505 (-22.0%), from €755,687 to €589,182
- Financial charges -€27,378
down €27,378 (-53.7%), from €51,022 to €23,644
- Depreciation -€10,624
down €10,624 (-9.5%), from €111,358 to €100,735
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.
Derived cash bridge
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 | €938,313 | €856,763 | -€81,550 | -8.7% |
| Fixed assets | 21/28 | €576,402 | €504,804 | -€71,598 | -12.4% |
| Intangible fixed assets | 21 | €10,417 | €2,083 | -€8,333 | -80.0% |
| Tangible fixed assets | 22/27 | €565,115 | €501,851 | -€63,265 | -11.2% |
| Plant, machinery and equipment | 23 | €117,355 | €97,128 | -€20,227 | -17.2% |
| Furniture and vehicles | 24 | €32,134 | €21,936 | -€10,199 | -31.7% |
| Other tangible fixed assets | 26 | €415,626 | €382,787 | -€32,839 | -7.9% |
| Financial fixed assets | 28 | €870 | €870 | = | 0.0% |
| Current assets | 29/58 | €361,911 | €351,959 | -€9,952 | -2.7% |
| Stocks and contracts in progress | 3 | €18,519 | €14,917 | -€3,602 | -19.4% |
| Stocks | 30/36 | €18,519 | €14,917 | -€3,602 | -19.4% |
| Amounts receivable within one year | 40/41 | €24,344 | €10,832 | -€13,512 | -55.5% |
| Trade receivables | 40 | €15,730 | €3,706 | -€12,024 | -76.4% |
| Other amounts receivable | 41 | €8,614 | €7,126 | -€1,488 | -17.3% |
| Cash at bank and in hand | 54/58 | €290,753 | €298,216 | +€7,462 | +2.6% |
| Deferred charges and accrued income | 490/1 | €28,295 | €27,994 | -€300 | -1.1% |
| Total equity and liabilities | 10/49 | €938,313 | €856,763 | -€81,550 | -8.7% |
| Equity | 10/15 | €44,561 | €58,553 | +€13,992 | +31.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €320 | €320 | = | 0.0% |
| Distributable reserves | 133 | €320 | €320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,641 | €39,633 | +€13,992 | +54.6% |
| Amounts payable | 17/49 | €893,752 | €798,210 | -€95,542 | -10.7% |
| Amounts payable after more than one year | 17 | €299,716 | €214,560 | -€85,156 | -28.4% |
| Financial debts | 170/4 | €299,716 | €214,560 | -€85,156 | -28.4% |
| Amounts payable within one year | 42/48 | €593,652 | €582,651 | -€11,000 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €91,918 | €86,849 | -€5,069 | -5.5% |
| Trade debts | 44 | €248,528 | €251,101 | +€2,573 | +1.0% |
| Suppliers | 440/4 | €248,528 | €251,101 | +€2,573 | +1.0% |
| Taxes, remuneration and social security | 45 | €129,043 | €101,013 | -€28,029 | -21.7% |
| Taxes | 450/3 | €17,533 | €24,618 | +€7,085 | +40.4% |
| Remuneration and social security | 454/9 | €111,510 | €76,396 | -€35,114 | -31.5% |
| Other amounts payable | 47/48 | €124,163 | €143,687 | +€19,524 | +15.7% |
| Accrued charges and deferred income | 492/3 | €384 | €998 | +€614 | +160% |
| Remuneration, social security and pensions | 62 | €755,687 | €589,182 | -€166,505 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,358 | €100,735 | -€10,624 | -9.5% |
| Other operating charges | 640/8 | €2,987 | €6,151 | +€3,164 | +106% |
| Gross operating margin | 9900 | €957,703 | €740,325 | -€217,378 | -22.7% |
| Operating profit (loss) | 9901 | €87,671 | €44,257 | -€43,414 | -49.5% |
| Financial income | 75/76B | €269 | €374 | +€105 | +39.1% |
| Recurring financial income | 75 | €269 | €374 | +€105 | +39.1% |
| Financial charges | 65/66B | €51,022 | €23,644 | -€27,378 | -53.7% |
| Recurring financial charges | 65 | €51,022 | €23,644 | -€27,378 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €36,918 | €20,988 | -€15,930 | -43.2% |
| Income taxes | 67/77 | €11,277 | €6,996 | -€4,281 | -38.0% |
| Profit (loss) for the period | 9904 | €25,641 | €13,992 | -€11,649 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,641 | €13,992 | -€11,649 | -45.4% |
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 18 October 2026 via checked.be.