NOVEMBER.BE: 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.
NOVEMBER.BE
Largest movements
- Cash +€175,146
up €175,146 (+8,190%), from €2,139 to €177,285
mainly Investment in fixed assets (net) (+€102,704) and Net result for the year (+€76,623)
- Tangible fixed assets -€111,207
down €111,207 (-58.6%), from €189,743 to €78,535
- Receivables within one year +€3,447
up €3,447 (+285%), from €1,209 to €4,656
of which Other amounts receivable: +€3,200
- Profit (loss) carried forward +€56,345
no longer reported in 2025 (was -€56,345)
- Reserves +€18,613
up €18,613 (+17.1%), from €109,130 to €127,743
of which Distributable reserves: +€18,613
- Current portion of long-term debt -€8,169
no longer reported in 2025 (was €8,169)
- Gross operating margin +€100,197
up €100,197, from -€4,430 to €95,767
- Taxes +€11,298
up €11,298 (+3,826%), from €295 to €11,593
- Depreciation -€6,850
down €6,850 (-44.6%), from €15,353 to €8,503
- Financial income +€1,426
up €1,426 (+93.7%), from €1,522 to €2,948
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 | €193,090 | €260,476 | +€67,386 | +34.9% |
| Fixed assets | 21/28 | €189,743 | €78,535 | -€111,207 | -58.6% |
| Tangible fixed assets | 22/27 | €189,743 | €78,535 | -€111,207 | -58.6% |
| Land and buildings | 22 | €189,743 | €78,535 | -€111,207 | -58.6% |
| Current assets | 29/58 | €3,347 | €181,941 | +€178,593 | +5,335% |
| Amounts receivable within one year | 40/41 | €1,209 | €4,656 | +€3,447 | +285% |
| Trade receivables | 40 | - | €247 | +€247 | |
| Other amounts receivable | 41 | €1,209 | €4,409 | +€3,200 | +265% |
| Cash at bank and in hand | 54/58 | €2,139 | €177,285 | +€175,146 | +8,190% |
| Total equity and liabilities | 10/49 | €193,090 | €260,476 | +€67,386 | +34.9% |
| Equity | 10/15 | €90,624 | €164,080 | +€73,456 | +81.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €109,130 | €127,743 | +€18,613 | +17.1% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €106,130 | €124,743 | +€18,613 | +17.5% |
| Profit (loss) carried forward | 14 | -€56,345 | - | +€56,345 | |
| Investment grants | 15 | €7,839 | €6,337 | -€1,501 | -19.2% |
| Provisions and deferred taxes | 16 | €1,960 | €1,584 | -€375 | -19.2% |
| Deferred taxes | 168 | €1,960 | €1,584 | -€375 | -19.2% |
| Amounts payable | 17/49 | €100,506 | €94,812 | -€5,694 | -5.7% |
| Amounts payable within one year | 42/48 | €99,993 | €94,284 | -€5,709 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €8,169 | - | -€8,169 | |
| Trade debts | 44 | €4,046 | €4,139 | +€93 | +2.3% |
| Suppliers | 440/4 | €4,046 | €4,139 | +€93 | +2.3% |
| Taxes, remuneration and social security | 45 | €295 | €606 | +€310 | +105% |
| Taxes | 450/3 | €295 | €606 | +€310 | +105% |
| Other amounts payable | 47/48 | €87,482 | €89,540 | +€2,057 | +2.4% |
| Accrued charges and deferred income | 492/3 | €513 | €528 | +€14 | +2.8% |
| Non-recurring operating income | 76A | - | €110,296 | +€110,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,353 | €8,503 | -€6,850 | -44.6% |
| Other operating charges | 640/8 | €2,566 | €2,164 | -€402 | -15.7% |
| Gross operating margin | 9900 | -€4,430 | €95,767 | +€100,197 | |
| Operating profit (loss) | 9901 | -€22,349 | €85,100 | +€107,449 | |
| Financial income | 75/76B | €1,522 | €2,948 | +€1,426 | +93.7% |
| Recurring financial income | 75 | €1,522 | €2,948 | +€1,426 | +93.7% |
| Financial charges | 65/66B | €736 | €207 | -€529 | -71.9% |
| Recurring financial charges | 65 | €736 | €207 | -€529 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,563 | €87,841 | +€109,404 | |
| Transfer from deferred taxes | 780 | €380 | €375 | -€5 | -1.3% |
| Income taxes | 67/77 | €295 | €11,593 | +€11,298 | +3,826% |
| Profit (loss) for the period | 9904 | -€21,478 | €76,623 | +€98,101 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,478 | €76,623 | +€98,101 |
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 16 October 2026 via checked.be.