POSITOR: what changed
Two financial 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.
POSITOR
Largest movements
- Intangible fixed assets -€92,794
down €92,794 (-16.7%), from €556,766 to €463,971
- Receivables within one year +€53,488
up €53,488 (+163%), from €32,877 to €86,365
of which Trade receivables: +€63,278
- Cash +€29,047
up €29,047 (+82.4%), from €35,254 to €64,300
mainly Depreciation (+€101,842) and Tax, wage and social debts (+€31,536)
- Tangible fixed assets -€9,048
down €9,048 (-5.1%), from €176,397 to €167,349
of which Land and buildings: -€4,657
- Debts after one year -€42,233
down €42,233 (-19.4%), from €217,212 to €174,979
- Tax, wage and social debts +€31,536
up €31,536 (+240%), from €13,140 to €44,676
of which Taxes: +€29,202
- Gross operating margin +€53,681
up €53,681 (+44.3%), from €121,168 to €174,848
- Taxes +€23,319
up €23,319 (+253%), from €9,211 to €32,529
- Write-downs -€20,000
no longer reported in 2025 (was €20,000)
- Financial charges -€18,376
down €18,376 (-54.3%), from €33,827 to €15,450
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.
Derived cash bridge
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 | €882,735 | €862,767 | -€19,968 | -2.3% |
| Fixed assets | 21/28 | €790,213 | €688,370 | -€101,842 | -12.9% |
| Intangible fixed assets | 21 | €556,766 | €463,971 | -€92,794 | -16.7% |
| Tangible fixed assets | 22/27 | €176,397 | €167,349 | -€9,048 | -5.1% |
| Land and buildings | 22 | €157,109 | €152,452 | -€4,657 | -3.0% |
| Plant, machinery and equipment | 23 | €4,563 | €4,051 | -€512 | -11.2% |
| Furniture and vehicles | 24 | €14,724 | €10,846 | -€3,878 | -26.3% |
| Financial fixed assets | 28 | €57,051 | €57,051 | = | 0.0% |
| Current assets | 29/58 | €92,522 | €174,397 | +€81,875 | +88.5% |
| Amounts receivable after more than one year | 29 | €3,114 | €3,114 | = | 0.0% |
| Other amounts receivable | 291 | €3,114 | €3,114 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,877 | €86,365 | +€53,488 | +163% |
| Trade receivables | 40 | €23,087 | €86,365 | +€63,278 | +274% |
| Other amounts receivable | 41 | €9,789 | - | -€9,789 | |
| Current investments | 50/53 | €18,800 | €18,800 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,254 | €64,300 | +€29,047 | +82.4% |
| Deferred charges and accrued income | 490/1 | €2,478 | €1,818 | -€660 | -26.6% |
| Total equity and liabilities | 10/49 | €882,735 | €862,767 | -€19,968 | -2.3% |
| Equity | 10/15 | €364,572 | €358,688 | -€5,884 | -1.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €359,072 | €353,188 | -€5,884 | -1.6% |
| Amounts payable | 17/49 | €518,164 | €504,080 | -€14,084 | -2.7% |
| Amounts payable after more than one year | 17 | €217,212 | €174,979 | -€42,233 | -19.4% |
| Financial debts | 170/4 | €217,212 | €174,979 | -€42,233 | -19.4% |
| Amounts payable within one year | 42/48 | €300,726 | €329,100 | +€28,375 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €103,560 | €108,262 | +€4,702 | +4.5% |
| Trade debts | 44 | €3,113 | €2,379 | -€734 | -23.6% |
| Suppliers | 440/4 | €3,113 | €2,379 | -€734 | -23.6% |
| Taxes, remuneration and social security | 45 | €13,140 | €44,676 | +€31,536 | +240% |
| Taxes | 450/3 | €11,587 | €40,789 | +€29,202 | +252% |
| Remuneration and social security | 454/9 | €1,554 | €3,888 | +€2,334 | +150% |
| Other amounts payable | 47/48 | €180,912 | €173,783 | -€7,129 | -3.9% |
| Accrued charges and deferred income | 492/3 | €225 | - | -€225 | |
| Remuneration, social security and pensions | 62 | €31,124 | €30,911 | -€213 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,391 | €101,842 | +€1,451 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,000 | - | -€20,000 | |
| Gross operating margin | 9900 | €121,168 | €174,848 | +€53,681 | +44.3% |
| Operating profit (loss) | 9901 | -€30,348 | €42,095 | +€72,443 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €33,827 | €15,450 | -€18,376 | -54.3% |
| Recurring financial charges | 65 | €33,827 | €15,450 | -€18,376 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | -€64,174 | €26,645 | +€90,820 | |
| Income taxes | 67/77 | €9,211 | €32,529 | +€23,319 | +253% |
| Profit (loss) for the period | 9904 | -€73,385 | -€5,884 | +€67,501 | +92.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,385 | -€5,884 | +€67,501 | +92.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.