Off We Go: 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.
Off We Go
Largest movements
- Tangible fixed assets -€47,415
down €47,415 (-66.2%), from €71,598 to €24,183
of which Leasing and similar rights: -€65,071
- Receivables within one year +€18,126
up €18,126 (+17.2%), from €105,615 to €123,740
of which Other amounts receivable: +€46,624
- Deferred charges and accrued income -€12,279
down €12,279 (-19.1%), from €64,375 to €52,096
- Financial fixed assets -€6,472
down €6,472 (-85.8%), from €7,547 to €1,075
- Cash -€4,716
down €4,716 (-14.4%), from €32,779 to €28,062
mainly Short-term financial debts (-€139,936) and Current portion of long-term debt (-€24,512)
- Short-term financial debts -€139,936
down €139,936 (-93.3%), from €150,000 to €10,064
- Other debts +€130,000
new in 2025: €130,000
- Current portion of long-term debt -€24,512
down €24,512 (-51.2%), from €47,874 to €23,362
- Debts after one year -€23,362
down €23,362 (-71.6%), from €32,610 to €9,248
- Tax, wage and social debts +€3,626
up €3,626 (+11.5%), from €31,515 to €35,141
of which Taxes: +€8,163
- Staff costs -€55,613
down €55,613 (-18.8%), from €295,552 to €239,939
- Gross operating margin -€29,474
down €29,474 (-9.2%), from €319,723 to €290,249
- Depreciation -€15,746
down €15,746 (-49.6%), from €31,752 to €16,006
- Other operating charges +€7,142
up €7,142 (+118.5%), from €6,026 to €13,168
- Financial charges +€5,839
up €5,839 (+48.6%), from €12,013 to €17,852
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 | €281,914 | €229,157 | -€52,756 | -18.7% |
| Fixed assets | 21/28 | €79,145 | €25,258 | -€53,887 | -68.1% |
| Tangible fixed assets | 22/27 | €71,598 | €24,183 | -€47,415 | -66.2% |
| Furniture and vehicles | 24 | €6,527 | €24,183 | +€17,656 | +270.5% |
| Leasing and similar rights | 25 | €65,071 | €0 | -€65,071 | -100.0% |
| Financial fixed assets | 28 | €7,547 | €1,075 | -€6,472 | -85.8% |
| Current assets | 29/58 | €202,769 | €203,899 | +€1,130 | +0.6% |
| Amounts receivable within one year | 40/41 | €105,615 | €123,740 | +€18,126 | +17.2% |
| Trade receivables | 40 | €100,675 | €72,177 | -€28,498 | -28.3% |
| Other amounts receivable | 41 | €4,940 | €51,564 | +€46,624 | +943.8% |
| Cash at bank and in hand | 54/58 | €32,779 | €28,062 | -€4,716 | -14.4% |
| Deferred charges and accrued income | 490/1 | €64,375 | €52,096 | -€12,279 | -19.1% |
| Total equity and liabilities | 10/49 | €281,914 | €229,157 | -€52,756 | -18.7% |
| Equity | 10/15 | -€16,594 | -€13,270 | +€3,324 | +20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,760 | €37,760 | = | 0.0% |
| 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 | €35,900 | €35,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,954 | -€69,630 | +€3,324 | +4.6% |
| Amounts payable | 17/49 | €298,507 | €242,427 | -€56,081 | -18.8% |
| Amounts payable after more than one year | 17 | €32,610 | €9,248 | -€23,362 | -71.6% |
| Financial debts | 170/4 | €32,610 | €9,248 | -€23,362 | -71.6% |
| Amounts payable within one year | 42/48 | €263,108 | €230,845 | -€32,263 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €47,874 | €23,362 | -€24,512 | -51.2% |
| Financial debts | 43 | €150,000 | €10,064 | -€139,936 | -93.3% |
| Credit institutions | 430/8 | €150,000 | €10,064 | -€139,936 | -93.3% |
| Trade debts | 44 | €33,718 | €32,278 | -€1,440 | -4.3% |
| Suppliers | 440/4 | €33,718 | €32,278 | -€1,440 | -4.3% |
| Taxes, remuneration and social security | 45 | €31,515 | €35,141 | +€3,626 | +11.5% |
| Taxes | 450/3 | €663 | €8,825 | +€8,163 | +1232.0% |
| Remuneration and social security | 454/9 | €30,853 | €26,316 | -€4,537 | -14.7% |
| Other amounts payable | 47/48 | - | €130,000 | +€130,000 | |
| Accrued charges and deferred income | 492/3 | €2,790 | €2,334 | -€456 | -16.3% |
| Remuneration, social security and pensions | 62 | €295,552 | €239,939 | -€55,613 | -18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,752 | €16,006 | -€15,746 | -49.6% |
| Other operating charges | 640/8 | €6,026 | €13,168 | +€7,142 | +118.5% |
| Gross operating margin | 9900 | €319,723 | €290,249 | -€29,474 | -9.2% |
| Operating profit (loss) | 9901 | -€13,607 | €21,135 | +€34,743 | |
| Financial income | 75/76B | €31 | €41 | +€10 | +34.3% |
| Recurring financial income | 75 | €31 | €41 | +€10 | +34.3% |
| Financial charges | 65/66B | €12,013 | €17,852 | +€5,839 | +48.6% |
| Recurring financial charges | 65 | €12,013 | €17,852 | +€5,839 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,590 | €3,324 | +€28,914 | |
| Income taxes | 67/77 | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period | 9904 | -€25,592 | €3,324 | +€28,916 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,592 | €3,324 | +€28,916 |
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 29 September 2026 via checked.be.