P52: 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.
P52
Largest movements
- Receivables within one year +€35,453
up €35,453 (+198.0%), from €17,907 to €53,361
of which Other amounts receivable: +€35,175
- Tangible fixed assets -€14,389
down €14,389 (-65.5%), from €21,954 to €7,565
of which Furniture and vehicles: -€11,675
- Cash -€4,673
down €4,673 (-3.3%), from €139,963 to €135,290
mainly Tax, wage and social debts (-€48,970) and Contributions, distributions and other (-€46,383)
- Tax, wage and social debts -€48,970
down €48,970 (-88.4%), from €55,379 to €6,409
- Profit (loss) carried forward +€44,012
up €44,012 (+94.9%), from €46,383 to €90,395
- Debts after one year +€21,500
up €21,500 (+39.1%), from €55,000 to €76,500
- Gross operating margin +€18,813
up €18,813 (+16.3%), from €115,507 to €134,321
- Taxes +€4,367
up €4,367 (+21.3%), from €20,495 to €24,862
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 | €179,825 | €196,216 | +€16,391 | +9.1% |
| Fixed assets | 21/28 | €21,954 | €7,565 | -€14,389 | -65.5% |
| Tangible fixed assets | 22/27 | €21,954 | €7,565 | -€14,389 | -65.5% |
| Plant, machinery and equipment | 23 | €6,921 | €4,206 | -€2,714 | -39.2% |
| Furniture and vehicles | 24 | €15,034 | €3,359 | -€11,675 | -77.7% |
| Current assets | 29/58 | €157,871 | €188,651 | +€30,780 | +19.5% |
| Amounts receivable within one year | 40/41 | €17,907 | €53,361 | +€35,453 | +198.0% |
| Trade receivables | 40 | €17,811 | €18,090 | +€278 | +1.6% |
| Other amounts receivable | 41 | €96 | €35,271 | +€35,175 | +36530.1% |
| Cash at bank and in hand | 54/58 | €139,963 | €135,290 | -€4,673 | -3.3% |
| Total equity and liabilities | 10/49 | €179,825 | €196,216 | +€16,391 | +9.1% |
| Equity | 10/15 | €64,983 | €108,995 | +€44,012 | +67.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,383 | €90,395 | +€44,012 | +94.9% |
| Amounts payable | 17/49 | €114,842 | €87,221 | -€27,622 | -24.1% |
| Amounts payable after more than one year | 17 | €55,000 | €76,500 | +€21,500 | +39.1% |
| Financial debts | 170/4 | €55,000 | €76,500 | +€21,500 | +39.1% |
| Amounts payable within one year | 42/48 | €59,842 | €10,721 | -€49,122 | -82.1% |
| Financial debts | 43 | €863 | €325 | -€538 | -62.3% |
| Credit institutions | 430/8 | €863 | €325 | -€538 | -62.3% |
| Trade debts | 44 | €3,600 | €3,899 | +€299 | +8.3% |
| Suppliers | 440/4 | €3,600 | €3,899 | +€299 | +8.3% |
| Taxes, remuneration and social security | 45 | €55,379 | €6,409 | -€48,970 | -88.4% |
| Taxes | 450/3 | €55,379 | €6,409 | -€48,970 | -88.4% |
| Other amounts payable | 47/48 | - | €87 | +€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,140 | €14,389 | -€751 | -5.0% |
| Other operating charges | 640/8 | €589 | €597 | +€8 | +1.4% |
| Gross operating margin | 9900 | €115,507 | €134,321 | +€18,813 | +16.3% |
| Operating profit (loss) | 9901 | €99,778 | €119,334 | +€19,556 | +19.6% |
| Financial income | 75/76B | €898 | - | -€898 | |
| Recurring financial income | 75 | €898 | - | -€898 | |
| Financial charges | 65/66B | €4,142 | €4,077 | -€65 | -1.6% |
| Recurring financial charges | 65 | €4,142 | €4,077 | -€65 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €96,535 | €115,257 | +€18,722 | +19.4% |
| Income taxes | 67/77 | €20,495 | €24,862 | +€4,367 | +21.3% |
| Profit (loss) for the period | 9904 | €76,040 | €90,395 | +€14,355 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,040 | €90,395 | +€14,355 | +18.9% |
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 4 October 2026 via checked.be.