PATRICK WITTERS: 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.
PATRICK WITTERS
Largest movements
- Cash +€22,038
up €22,038 (+83.9%), from €26,272 to €48,310
mainly Net result for the year (+€12,350) and Depreciation (+€11,081)
- Tangible fixed assets -€8,818
down €8,818 (-52.2%), from €16,879 to €8,061
of which Furniture and vehicles: -€8,963
- Receivables within one year -€1,635
down €1,635 (-10.9%), from €15,035 to €13,400
of which Other amounts receivable: -€2,147
- Reserves +€10,684
up €10,684 (+65.7%), from €16,258 to €26,943
- Debts after one year +€7,000
up €7,000 (+82.4%), from €8,500 to €15,500
- Other debts -€5,481
down €5,481 (-72.2%), from €7,596 to €2,115
- Tax, wage and social debts -€1,112
down €1,112 (-21.1%), from €5,275 to €4,164
- Trade debts +€854
up €854 (+34.5%), from €2,475 to €3,329
- Depreciation -€3,010
down €3,010 (-21.4%), from €14,091 to €11,081
- Taxes -€1,531
down €1,531 (-21.7%), from €7,067 to €5,537
- Gross operating margin +€1,522
up €1,522 (+5.0%), from €30,335 to €31,856
- Financial charges +€620
up €620 (+68.8%), from €901 to €1,521
- Financial income +€440
up €440 (+639.8%), from €69 to €509
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 | €60,524 | €72,184 | +€11,660 | +19.3% |
| Fixed assets | 21/28 | €16,879 | €8,061 | -€8,818 | -52.2% |
| Tangible fixed assets | 22/27 | €16,879 | €8,061 | -€8,818 | -52.2% |
| Plant, machinery and equipment | 23 | €1,777 | €622 | -€1,155 | -65.0% |
| Furniture and vehicles | 24 | €10,606 | €1,643 | -€8,963 | -84.5% |
| Other tangible fixed assets | 26 | €4,496 | €5,797 | +€1,301 | +28.9% |
| Current assets | 29/58 | €43,645 | €64,122 | +€20,477 | +46.9% |
| Amounts receivable within one year | 40/41 | €15,035 | €13,400 | -€1,635 | -10.9% |
| Trade receivables | 40 | €12,888 | €13,400 | +€512 | +4.0% |
| Other amounts receivable | 41 | €2,147 | - | -€2,147 | |
| Cash at bank and in hand | 54/58 | €26,272 | €48,310 | +€22,038 | +83.9% |
| Deferred charges and accrued income | 490/1 | €2,338 | €2,413 | +€75 | +3.2% |
| Total equity and liabilities | 10/49 | €60,524 | €72,184 | +€11,660 | +19.3% |
| Equity | 10/15 | €35,258 | €45,943 | +€10,684 | +30.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €16,258 | €26,943 | +€10,684 | +65.7% |
| Distributable reserves | 133 | €16,258 | €26,943 | +€10,684 | +65.7% |
| Amounts payable | 17/49 | €25,266 | €26,241 | +€976 | +3.9% |
| Amounts payable after more than one year | 17 | €8,500 | €15,500 | +€7,000 | +82.4% |
| Other amounts payable | 178/9 | €8,500 | €15,500 | +€7,000 | +82.4% |
| Amounts payable within one year | 42/48 | €15,346 | €9,607 | -€5,739 | -37.4% |
| Trade debts | 44 | €2,475 | €3,329 | +€854 | +34.5% |
| Suppliers | 440/4 | €2,475 | €3,329 | +€854 | +34.5% |
| Taxes, remuneration and social security | 45 | €5,275 | €4,164 | -€1,112 | -21.1% |
| Taxes | 450/3 | €5,275 | €4,164 | -€1,112 | -21.1% |
| Other amounts payable | 47/48 | €7,596 | €2,115 | -€5,481 | -72.2% |
| Accrued charges and deferred income | 492/3 | €1,419 | €1,134 | -€286 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,091 | €11,081 | -€3,010 | -21.4% |
| Other operating charges | 640/8 | €1,722 | €1,876 | +€155 | +9.0% |
| Gross operating margin | 9900 | €30,335 | €31,856 | +€1,522 | +5.0% |
| Operating profit (loss) | 9901 | €14,522 | €18,899 | +€4,377 | +30.1% |
| Financial income | 75/76B | €69 | €509 | +€440 | +639.8% |
| Recurring financial income | 75 | €69 | €509 | +€440 | +639.8% |
| Financial charges | 65/66B | €901 | €1,521 | +€620 | +68.8% |
| Recurring financial charges | 65 | €901 | €1,521 | +€620 | +68.8% |
| Profit (loss) for the period before taxes | 9903 | €13,690 | €17,887 | +€4,197 | +30.7% |
| Income taxes | 67/77 | €7,067 | €5,537 | -€1,531 | -21.7% |
| Profit (loss) for the period | 9904 | €6,623 | €12,350 | +€5,727 | +86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €6,623 | €12,350 | +€5,727 | +86.5% |
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 30 September 2026 via checked.be.