Perspective: 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.
Perspective
Largest movements
- Tangible fixed assets -€6,024
down €6,024 (-2.4%), from €246,149 to €240,125
- Cash -€3,872
down €3,872 (-40.5%), from €9,556 to €5,684
mainly Net result for the year (-€7,018) and Debts after one year (-€3,544)
- Profit (loss) carried forward -€7,018
down €7,018 (-29.0%), from -€24,168 to -€31,186
- Debts after one year -€3,544
down €3,544 (-1.4%), from €250,639 to €247,095
of which Financial debts: -€6,025
- Depreciation -€11,097
down €11,097 (-63.2%), from €17,568 to €6,471
- Financial charges -€4,530
down €4,530 (-43.2%), from €10,489 to €5,959
- Other operating charges -€1,556
down €1,556 (-49.0%), from €3,177 to €1,621
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 | €257,270 | €246,935 | -€10,335 | -4.0% |
| Formation expenses | 20 | €1,418 | €971 | -€447 | -31.5% |
| Fixed assets | 21/28 | €246,149 | €240,125 | -€6,024 | -2.4% |
| Tangible fixed assets | 22/27 | €246,149 | €240,125 | -€6,024 | -2.4% |
| Land and buildings | 22 | €246,149 | €240,125 | -€6,024 | -2.4% |
| Current assets | 29/58 | €9,704 | €5,839 | -€3,864 | -39.8% |
| Cash at bank and in hand | 54/58 | €9,556 | €5,684 | -€3,872 | -40.5% |
| Deferred charges and accrued income | 490/1 | €148 | €155 | +€8 | +5.3% |
| Total equity and liabilities | 10/49 | €257,270 | €246,935 | -€10,335 | -4.0% |
| Equity | 10/15 | €832 | -€6,186 | -€7,018 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,168 | -€31,186 | -€7,018 | -29.0% |
| Amounts payable | 17/49 | €256,438 | €253,121 | -€3,317 | -1.3% |
| Amounts payable after more than one year | 17 | €250,639 | €247,095 | -€3,544 | -1.4% |
| Financial debts | 170/4 | €146,464 | €140,438 | -€6,025 | -4.1% |
| Other amounts payable | 178/9 | €104,175 | €106,657 | +€2,482 | +2.4% |
| Amounts payable within one year | 42/48 | €5,798 | €6,025 | +€227 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €5,798 | €6,025 | +€227 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,568 | €6,471 | -€11,097 | -63.2% |
| Other operating charges | 640/8 | €3,177 | €1,621 | -€1,556 | -49.0% |
| Gross operating margin | 9900 | €7,066 | €7,033 | -€33 | -0.5% |
| Operating profit (loss) | 9901 | -€13,678 | -€1,059 | +€12,619 | +92.3% |
| Financial charges | 65/66B | €10,489 | €5,959 | -€4,530 | -43.2% |
| Recurring financial charges | 65 | €10,489 | €5,959 | -€4,530 | -43.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,168 | -€7,018 | +€17,149 | +71.0% |
| Profit (loss) for the period | 9904 | -€24,168 | -€7,018 | +€17,149 | +71.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,168 | -€7,018 | +€17,149 | +71.0% |
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 5 October 2026 via checked.be.