P15C: 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.
P15C
Largest movements
- Tangible fixed assets -€30,211
down €30,211 (-4.9%), from €616,846 to €586,634
of which Land and buildings: -€26,389
- Receivables within one year +€21,466
up €21,466 (+72.7%), from €29,512 to €50,978
of which Trade receivables: +€13,715
- Cash +€11,095
up €11,095 (+86.7%), from €12,794 to €23,889
mainly Depreciation (+€30,211) and Advances received (+€26,194)
- Reserves +€121,841
up €121,841 (+6,551%), from €1,860 to €123,701
- Profit (loss) carried forward -€99,323
down €99,323 (-100%), from €99,323 to €0
- Debts after one year -€37,148
down €37,148 (-8.5%), from €435,057 to €397,909
- Other debts -€32,183
down €32,183 (-92.0%), from €35,000 to €2,818
- Advances received +€26,194
up €26,194, from €0 to €26,194
- Gross operating margin -€53,254
down €53,254 (-43.4%), from €122,606 to €69,351
- Taxes -€12,671
down €12,671 (-64.0%), from €19,784 to €7,113
- Financial charges +€2,201
up €2,201 (+34.6%), from €6,363 to €8,564
- Depreciation +€1,967
up €1,967 (+7.0%), from €28,244 to €30,211
- Other operating charges +€1,732
up €1,732 (+109%), from €1,594 to €3,326
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 | €662,824 | €663,518 | +€694 | +0.1% |
| Fixed assets | 21/28 | €617,346 | €587,134 | -€30,211 | -4.9% |
| Tangible fixed assets | 22/27 | €616,846 | €586,634 | -€30,211 | -4.9% |
| Land and buildings | 22 | €600,957 | €574,568 | -€26,389 | -4.4% |
| Furniture and vehicles | 24 | €15,889 | €12,067 | -€3,822 | -24.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €45,478 | €76,383 | +€30,905 | +68.0% |
| Amounts receivable within one year | 40/41 | €29,512 | €50,978 | +€21,466 | +72.7% |
| Trade receivables | 40 | €2,552 | €16,268 | +€13,715 | +537% |
| Other amounts receivable | 41 | €26,960 | €34,710 | +€7,750 | +28.7% |
| Cash at bank and in hand | 54/58 | €12,794 | €23,889 | +€11,095 | +86.7% |
| Deferred charges and accrued income | 490/1 | €3,172 | €1,516 | -€1,656 | -52.2% |
| Total equity and liabilities | 10/49 | €662,824 | €663,518 | +€694 | +0.1% |
| Equity | 10/15 | €119,783 | €142,301 | +€22,518 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €123,701 | +€121,841 | +6,551% |
| Distributable reserves | 133 | €1,860 | €123,701 | +€121,841 | +6,551% |
| Profit (loss) carried forward | 14 | €99,323 | €0 | -€99,323 | -100% |
| Amounts payable | 17/49 | €543,041 | €521,217 | -€21,824 | -4.0% |
| Amounts payable after more than one year | 17 | €435,057 | €397,909 | -€37,148 | -8.5% |
| Financial debts | 170/4 | €435,057 | €397,909 | -€37,148 | -8.5% |
| Amounts payable within one year | 42/48 | €104,424 | €122,236 | +€17,812 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €36,689 | €37,148 | +€459 | +1.3% |
| Trade debts | 44 | €9,325 | €17,591 | +€8,266 | +88.6% |
| Suppliers | 440/4 | €9,325 | €17,591 | +€8,266 | +88.6% |
| Advances received on contracts in progress | 46 | €0 | €26,194 | +€26,194 | |
| Taxes, remuneration and social security | 45 | €23,410 | €38,486 | +€15,076 | +64.4% |
| Taxes | 450/3 | €23,410 | €38,486 | +€15,076 | +64.4% |
| Other amounts payable | 47/48 | €35,000 | €2,818 | -€32,183 | -92.0% |
| Accrued charges and deferred income | 492/3 | €3,560 | €1,072 | -€2,488 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,244 | €30,211 | +€1,967 | +7.0% |
| Other operating charges | 640/8 | €1,594 | €3,326 | +€1,732 | +109% |
| Non-recurring operating charges | 66A | €124 | €0 | -€124 | -100% |
| Gross operating margin | 9900 | €122,606 | €69,351 | -€53,254 | -43.4% |
| Operating profit (loss) | 9901 | €92,643 | €35,813 | -€56,830 | -61.3% |
| Financial income | 75/76B | €3,069 | €2,381 | -€688 | -22.4% |
| Recurring financial income | 75 | €3,069 | €2,381 | -€688 | -22.4% |
| Financial charges | 65/66B | €6,363 | €8,564 | +€2,201 | +34.6% |
| Recurring financial charges | 65 | €6,363 | €8,564 | +€2,201 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €89,349 | €29,631 | -€59,719 | -66.8% |
| Income taxes | 67/77 | €19,784 | €7,113 | -€12,671 | -64.0% |
| Profit (loss) for the period | 9904 | €69,566 | €22,518 | -€47,048 | -67.6% |
| Profit (loss) for the period to be appropriated | 9905 | €69,566 | €22,518 | -€47,048 | -67.6% |
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 17 October 2026 via checked.be.