Passies: 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.
Passies
Largest movements
- Receivables within one year +€30,680
up €30,680 (+50.4%), from €60,842 to €91,522
of which Trade receivables: +€19,631
- Tangible fixed assets -€26,761
down €26,761 (-29.6%), from €90,408 to €63,647
of which Plant, machinery and equipment: -€15,844
- Deferred charges and accrued income +€8,303
up €8,303 (+135.4%), from €6,133 to €14,437
- Stocks and contracts -€3,200
down €3,200 (-78.2%), from €4,090 to €890
- Trade debts +€49,674
up €49,674 (+146.7%), from €33,853 to €83,527
- Profit (loss) carried forward -€23,214
down €23,214 (-1919.0%), from -€1,210 to -€24,423
- Debts after one year -€18,725
down €18,725 (-38.0%), from €49,264 to €30,539
- Short-term financial debts +€5,342
up €5,342 (+2376.3%), from €225 to €5,566
of which Other loans: +€5,149
- Current portion of long-term debt -€2,159
down €2,159 (-9.1%), from €23,656 to €21,497
- Gross operating margin -€38,332
down €38,332 (-69.0%), from €55,518 to €17,186
- Depreciation -€3,241
down €3,241 (-10.0%), from €32,415 to €29,174
- Financial charges +€2,771
up €2,771 (+37.5%), from €7,393 to €10,165
- Taxes -€2,308
down €2,308 (-95.6%), from €2,414 to €106
- Financial income -€2,251
down €2,251 (-95.7%), from €2,352 to €101
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 | €173,179 | €184,030 | +€10,851 | +6.3% |
| Fixed assets | 21/28 | €90,408 | €63,647 | -€26,761 | -29.6% |
| Tangible fixed assets | 22/27 | €90,408 | €63,647 | -€26,761 | -29.6% |
| Plant, machinery and equipment | 23 | €42,951 | €27,107 | -€15,844 | -36.9% |
| Furniture and vehicles | 24 | - | €816 | +€816 | |
| Other tangible fixed assets | 26 | €47,457 | €35,724 | -€11,733 | -24.7% |
| Current assets | 29/58 | €82,771 | €120,383 | +€37,612 | +45.4% |
| Stocks and contracts in progress | 3 | €4,090 | €890 | -€3,200 | -78.2% |
| Stocks | 30/36 | €4,090 | €890 | -€3,200 | -78.2% |
| Amounts receivable within one year | 40/41 | €60,842 | €91,522 | +€30,680 | +50.4% |
| Trade receivables | 40 | €4,595 | €24,226 | +€19,631 | +427.2% |
| Other amounts receivable | 41 | €56,247 | €67,296 | +€11,049 | +19.6% |
| Cash at bank and in hand | 54/58 | €11,707 | €13,535 | +€1,829 | +15.6% |
| Deferred charges and accrued income | 490/1 | €6,133 | €14,437 | +€8,303 | +135.4% |
| Total equity and liabilities | 10/49 | €173,179 | €184,030 | +€10,851 | +6.3% |
| Equity | 10/15 | €56,730 | €33,516 | -€23,214 | -40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,340 | €39,340 | = | 0.0% |
| Distributable reserves | 133 | €39,340 | €39,340 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,210 | -€24,423 | -€23,214 | -1919.0% |
| Amounts payable | 17/49 | €116,449 | €150,514 | +€34,065 | +29.3% |
| Amounts payable after more than one year | 17 | €49,264 | €30,539 | -€18,725 | -38.0% |
| Financial debts | 170/4 | €49,264 | €30,539 | -€18,725 | -38.0% |
| Amounts payable within one year | 42/48 | €67,186 | €119,808 | +€52,622 | +78.3% |
| Current portion of amounts payable after more than one year | 42 | €23,656 | €21,497 | -€2,159 | -9.1% |
| Financial debts | 43 | €225 | €5,566 | +€5,342 | +2376.3% |
| Credit institutions | 430/8 | €225 | €417 | +€193 | +85.7% |
| Other loans | 439 | - | €5,149 | +€5,149 | |
| Trade debts | 44 | €33,853 | €83,527 | +€49,674 | +146.7% |
| Suppliers | 440/4 | €33,853 | €83,527 | +€49,674 | +146.7% |
| Advances received on contracts in progress | 46 | €1,098 | €1,098 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,353 | €8,119 | -€234 | -2.8% |
| Taxes | 450/3 | €8,353 | €8,119 | -€234 | -2.8% |
| Accrued charges and deferred income | 492/3 | - | €167 | +€167 | |
| Non-recurring operating income | 76A | - | €9,890 | +€9,890 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,415 | €29,174 | -€3,241 | -10.0% |
| Other operating charges | 640/8 | €1,800 | €1,055 | -€745 | -41.4% |
| Gross operating margin | 9900 | €55,518 | €17,186 | -€38,332 | -69.0% |
| Operating profit (loss) | 9901 | €21,302 | -€13,044 | -€34,346 | |
| Financial income | 75/76B | €2,352 | €101 | -€2,251 | -95.7% |
| Recurring financial income | 75 | €2,352 | €101 | -€2,251 | -95.7% |
| Financial charges | 65/66B | €7,393 | €10,165 | +€2,771 | +37.5% |
| Recurring financial charges | 65 | €7,393 | €10,165 | +€2,771 | +37.5% |
| Profit (loss) for the period before taxes | 9903 | €16,261 | -€23,108 | -€39,369 | |
| Income taxes | 67/77 | €2,414 | €106 | -€2,308 | -95.6% |
| Profit (loss) for the period | 9904 | €13,847 | -€23,214 | -€37,061 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,847 | -€23,214 | -€37,061 |
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 6 October 2026 via checked.be.