ORGANO: 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.
ORGANO
Largest movements
- Stocks and contracts +€3.1m
up €3.1m (+46.6%), from €6.6m to €9.7m
- Receivables within one year +€818,682
up €818,682 (+77.3%), from €1.1m to €1.9m
of which Trade receivables: +€944,460
- Cash -€450,276
down €450,276 (-92.0%), from €489,674 to €39,397
mainly Stocks and contracts (-€3.1m) and Receivables within one year (-€818,682)
- Advances received +€2.1m
up €2.1m (+37.6%), from €5.6m to €7.6m
- Other debts +€1.5m
up €1.5m (+69.1%), from €2.2m to €3.8m
- Profit (loss) carried forward -€168,303
down €168,303 (-162.3%), from -€103,709 to -€272,012
- Gross operating margin -€108,687
down €108,687, from €29,367 to -€79,320
- Staff costs -€12,200
down €12,200 (-20.7%), from €58,992 to €46,792
- Depreciation +€5,225
up €5,225 (+20.8%), from €25,134 to €30,359
- Financial charges -€4,256
down €4,256 (-67.9%), from €6,268 to €2,012
- Other operating charges +€3,453
up €3,453 (+51.2%), from €6,750 to €10,202
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 | €8,564,334 | €12,011,418 | +€3.4m | +40.2% |
| Fixed assets | 21/28 | €371,730 | €351,874 | -€19,857 | -5.3% |
| Tangible fixed assets | 22/27 | €90,841 | €70,985 | -€19,857 | -21.9% |
| Plant, machinery and equipment | 23 | €73,129 | €49,111 | -€24,018 | -32.8% |
| Furniture and vehicles | 24 | €17,713 | €21,874 | +€4,162 | +23.5% |
| Financial fixed assets | 28 | €280,889 | €280,889 | = | 0.0% |
| Current assets | 29/58 | €8,192,604 | €11,659,545 | +€3.5m | +42.3% |
| Stocks and contracts in progress | 3 | €6,642,951 | €9,738,303 | +€3.1m | +46.6% |
| Stocks | 30/36 | €6,642,951 | €9,738,303 | +€3.1m | +46.6% |
| Amounts receivable within one year | 40/41 | €1,059,153 | €1,877,835 | +€818,682 | +77.3% |
| Trade receivables | 40 | €929,959 | €1,874,419 | +€944,460 | +101.6% |
| Other amounts receivable | 41 | €129,194 | €3,416 | -€125,778 | -97.4% |
| Cash at bank and in hand | 54/58 | €489,674 | €39,397 | -€450,276 | -92.0% |
| Deferred charges and accrued income | 490/1 | €827 | €4,010 | +€3,183 | +385.0% |
| Total equity and liabilities | 10/49 | €8,564,334 | €12,011,418 | +€3.4m | +40.2% |
| Equity | 10/15 | €236,622 | €68,319 | -€168,303 | -71.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €327,930 | €327,930 | = | 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% |
| Distributable reserves | 133 | €326,070 | €326,070 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,709 | -€272,012 | -€168,303 | -162.3% |
| Amounts payable | 17/49 | €8,327,712 | €11,943,100 | +€3.6m | +43.4% |
| Amounts payable after more than one year | 17 | €88,152 | €61,588 | -€26,564 | -30.1% |
| Other amounts payable | 178/9 | €88,152 | €61,588 | -€26,564 | -30.1% |
| Amounts payable within one year | 42/48 | €8,239,560 | €11,881,512 | +€3.6m | +44.2% |
| Trade debts | 44 | €426,886 | €474,483 | +€47,597 | +11.1% |
| Suppliers | 440/4 | €426,886 | €474,483 | +€47,597 | +11.1% |
| Advances received on contracts in progress | 46 | €5,558,533 | €7,648,753 | +€2.1m | +37.6% |
| Taxes, remuneration and social security | 45 | €32,781 | €1,393 | -€31,389 | -95.8% |
| Taxes | 450/3 | €20,031 | €612 | -€19,420 | -96.9% |
| Remuneration and social security | 454/9 | €12,750 | €781 | -€11,969 | -93.9% |
| Other amounts payable | 47/48 | €2,221,360 | €3,756,883 | +€1.5m | +69.1% |
| Remuneration, social security and pensions | 62 | €58,992 | €46,792 | -€12,200 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,134 | €30,359 | +€5,225 | +20.8% |
| Other operating charges | 640/8 | €6,750 | €10,202 | +€3,453 | +51.2% |
| Gross operating margin | 9900 | €29,367 | -€79,320 | -€108,687 | |
| Operating profit (loss) | 9901 | -€61,508 | -€166,673 | -€105,165 | -171.0% |
| Financial income | 75/76B | €964 | €382 | -€581 | -60.3% |
| Recurring financial income | 75 | €964 | €382 | -€581 | -60.3% |
| Financial charges | 65/66B | €6,268 | €2,012 | -€4,256 | -67.9% |
| Recurring financial charges | 65 | €6,268 | €2,012 | -€4,256 | -67.9% |
| Profit (loss) for the period before taxes | 9903 | -€66,813 | -€168,303 | -€101,490 | -151.9% |
| Profit (loss) for the period | 9904 | -€66,813 | -€168,303 | -€101,490 | -151.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,813 | -€168,303 | -€101,490 | -151.9% |
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 12 October 2026 via checked.be.