OR PAIRE: 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.
OR PAIRE
Largest movements
- Cash +€20,130
up €20,130 (+56.3%), from €35,756 to €55,886
mainly Net result for the year (+€48,158) and Depreciation (+€25,527)
- Tangible fixed assets -€19,023
down €19,023 (-23.5%), from €81,015 to €61,993
of which Other tangible fixed assets: -€11,746
- Other debts +€25,304
up €25,304 (+28.2%), from €89,857 to €115,161
- Debts after one year -€20,535
down €20,535 (-31.3%), from €65,631 to €45,096
- Trade debts +€16,419
up €16,419 (+192%), from €8,553 to €24,972
- Tax, wage and social debts -€11,314
down €11,314 (-48.5%), from €23,332 to €12,018
of which Taxes: -€14,187
- Current portion of long-term debt -€7,568
down €7,568 (-26.9%), from €28,103 to €20,535
- Staff costs +€14,392
up €14,392 (+67.5%), from €21,308 to €35,700
- Taxes -€11,087
down €11,087 (-35.6%), from €31,132 to €20,045
- Gross operating margin -€10,924
down €10,924 (-7.2%), from €150,908 to €139,984
- Write-downs -€3,451
no longer reported in 2025 (was €3,451)
- Depreciation -€2,452
down €2,452 (-8.8%), from €27,980 to €25,527
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 | €435,845 | €437,541 | +€1,696 | +0.4% |
| Fixed assets | 21/28 | €81,137 | €61,993 | -€19,144 | -23.6% |
| Intangible fixed assets | 21 | €122 | - | -€122 | |
| Tangible fixed assets | 22/27 | €81,015 | €61,993 | -€19,023 | -23.5% |
| Plant, machinery and equipment | 23 | €5,438 | €4,711 | -€727 | -13.4% |
| Furniture and vehicles | 24 | €616 | €2,248 | +€1,632 | +265% |
| Leasing and similar rights | 25 | €8,182 | - | -€8,182 | |
| Other tangible fixed assets | 26 | €66,779 | €55,033 | -€11,746 | -17.6% |
| Current assets | 29/58 | €354,708 | €375,548 | +€20,840 | +5.9% |
| Stocks and contracts in progress | 3 | €309,275 | €305,368 | -€3,907 | -1.3% |
| Stocks | 30/36 | €309,275 | €305,368 | -€3,907 | -1.3% |
| Amounts receivable within one year | 40/41 | €227 | €3,728 | +€3,501 | +1,544% |
| Trade receivables | 40 | €227 | €423 | +€197 | +86.7% |
| Other amounts receivable | 41 | - | €3,304 | +€3,304 | |
| Cash at bank and in hand | 54/58 | €35,756 | €55,886 | +€20,130 | +56.3% |
| Deferred charges and accrued income | 490/1 | €9,451 | €10,566 | +€1,116 | +11.8% |
| Total equity and liabilities | 10/49 | €435,845 | €437,541 | +€1,696 | +0.4% |
| Equity | 10/15 | €216,244 | €215,902 | -€342 | -0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €196,900 | €196,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,426 | €21,426 | = | 0.0% |
| Distributable reserves | 133 | €175,474 | €175,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | €743 | €401 | -€342 | -46.0% |
| Amounts payable | 17/49 | €219,601 | €221,639 | +€2,038 | +0.9% |
| Amounts payable after more than one year | 17 | €65,631 | €45,096 | -€20,535 | -31.3% |
| Financial debts | 170/4 | €65,631 | €45,096 | -€20,535 | -31.3% |
| Amounts payable within one year | 42/48 | €149,845 | €172,686 | +€22,841 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €28,103 | €20,535 | -€7,568 | -26.9% |
| Trade debts | 44 | €8,553 | €24,972 | +€16,419 | +192% |
| Suppliers | 440/4 | €8,553 | €24,972 | +€16,419 | +192% |
| Taxes, remuneration and social security | 45 | €23,332 | €12,018 | -€11,314 | -48.5% |
| Taxes | 450/3 | €17,577 | €3,390 | -€14,187 | -80.7% |
| Remuneration and social security | 454/9 | €5,755 | €8,628 | +€2,873 | +49.9% |
| Other amounts payable | 47/48 | €89,857 | €115,161 | +€25,304 | +28.2% |
| Accrued charges and deferred income | 492/3 | €4,125 | €3,856 | -€268 | -6.5% |
| Remuneration, social security and pensions | 62 | €21,308 | €35,700 | +€14,392 | +67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,980 | €25,527 | -€2,452 | -8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,451 | - | -€3,451 | |
| Other operating charges | 640/8 | €2,021 | €2,343 | +€322 | +15.9% |
| Non-recurring operating charges | 66A | - | €2,658 | +€2,658 | |
| Gross operating margin | 9900 | €150,908 | €139,984 | -€10,924 | -7.2% |
| Operating profit (loss) | 9901 | €96,148 | €73,756 | -€22,392 | -23.3% |
| Financial income | 75/76B | €1,176 | €1,166 | -€10 | -0.8% |
| Recurring financial income | 75 | €1,176 | €1,166 | -€10 | -0.8% |
| Financial charges | 65/66B | €7,360 | €6,719 | -€641 | -8.7% |
| Recurring financial charges | 65 | €7,360 | €6,719 | -€641 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €89,964 | €68,203 | -€21,761 | -24.2% |
| Income taxes | 67/77 | €31,132 | €20,045 | -€11,087 | -35.6% |
| Profit (loss) for the period | 9904 | €58,832 | €48,158 | -€10,674 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,832 | €48,158 | -€10,674 | -18.1% |
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 27 October 2026 via checked.be.