PASSER: 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.
PASSER
Largest movements
- Stocks and contracts +€396,305
new in 2025: €396,305
- Tangible fixed assets -€90,735
down €90,735 (-100.0%), from €90,735 to €0
- Debts after one year +€180,336
up €180,336 (+519.4%), from €34,717 to €215,053
- Other debts +€129,726
up €129,726 (+176.9%), from €73,350 to €203,076
- Profit (loss) carried forward -€15,123
down €15,123 (-53.5%), from -€28,251 to -€43,374
- Current portion of long-term debt +€12,816
up €12,816 (+93.2%), from €13,752 to €26,568
- Depreciation -€10,938
down €10,938 (-100.0%), from €10,938 to €0
- Gross operating margin +€4,299
up €4,299 (+42.5%), from -€10,126 to -€5,827
- Financial charges +€3,164
up €3,164 (+57.1%), from €5,545 to €8,710
- Other operating charges -€1,055
down €1,055 (-64.3%), from €1,641 to €586
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 | €95,568 | €405,290 | +€309,722 | +324.1% |
| Fixed assets | 21/28 | €90,735 | €0 | -€90,735 | -100.0% |
| Tangible fixed assets | 22/27 | €90,735 | €0 | -€90,735 | -100.0% |
| Land and buildings | 22 | €90,735 | €0 | -€90,735 | -100.0% |
| Current assets | 29/58 | €4,833 | €405,290 | +€400,457 | +8286.0% |
| Stocks and contracts in progress | 3 | - | €396,305 | +€396,305 | |
| Stocks | 30/36 | - | €396,305 | +€396,305 | |
| Amounts receivable within one year | 40/41 | - | €1,946 | +€1,946 | |
| Trade receivables | 40 | - | €1,946 | +€1,946 | |
| Cash at bank and in hand | 54/58 | €4,420 | €6,548 | +€2,128 | +48.1% |
| Deferred charges and accrued income | 490/1 | €413 | €491 | +€78 | +18.9% |
| Total equity and liabilities | 10/49 | €95,568 | €405,290 | +€309,722 | +324.1% |
| Equity | 10/15 | -€26,251 | -€41,374 | -€15,123 | -57.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,251 | -€43,374 | -€15,123 | -53.5% |
| Amounts payable | 17/49 | €121,819 | €446,664 | +€324,845 | +266.7% |
| Amounts payable after more than one year | 17 | €34,717 | €215,053 | +€180,336 | +519.4% |
| Financial debts | 170/4 | €34,717 | €215,053 | +€180,336 | +519.4% |
| Amounts payable within one year | 42/48 | €87,102 | €231,611 | +€144,509 | +165.9% |
| Current portion of amounts payable after more than one year | 42 | €13,752 | €26,568 | +€12,816 | +93.2% |
| Trade debts | 44 | - | €1,967 | +€1,967 | |
| Suppliers | 440/4 | - | €1,967 | +€1,967 | |
| Other amounts payable | 47/48 | €73,350 | €203,076 | +€129,726 | +176.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,938 | €0 | -€10,938 | -100.0% |
| Other operating charges | 640/8 | €1,641 | €586 | -€1,055 | -64.3% |
| Gross operating margin | 9900 | -€10,126 | -€5,827 | +€4,299 | +42.5% |
| Operating profit (loss) | 9901 | -€22,706 | -€6,413 | +€16,292 | +71.8% |
| Financial charges | 65/66B | €5,545 | €8,710 | +€3,164 | +57.1% |
| Recurring financial charges | 65 | €5,545 | €8,710 | +€3,164 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | -€28,251 | -€15,123 | +€13,128 | +46.5% |
| Profit (loss) for the period | 9904 | -€28,251 | -€15,123 | +€13,128 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,251 | -€15,123 | +€13,128 | +46.5% |
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 7 October 2026 via checked.be.