PROPOSITION: 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.
PROPOSITION
Largest movements
- Receivables within one year +€3,920
up €3,920 (+10.2%), from €38,394 to €42,314
of which Other amounts receivable: +€2,224
- Tangible fixed assets -€1,094
down €1,094 (-37.5%), from €2,921 to €1,826
- Cash -€776
no longer reported in 2025 (was €776)
mainly Contributions, distributions and other (-€31,245) and Receivables within one year (-€3,920)
- Short-term financial debts +€10,587
new in 2025: €10,587
- Reserves -€10,278
down €10,278 (-19.8%), from €51,906 to €41,627
- Trade debts +€3,143
up €3,143 (+1689.8%), from €186 to €3,329
- Other debts -€859
no longer reported in 2025 (was €859)
- Gross operating margin +€10,465
up €10,465 (+50.1%), from €20,897 to €31,362
- Taxes +€2,016
up €2,016 (+36.2%), from €5,576 to €7,593
- Depreciation -€878
down €878 (-44.5%), from €1,972 to €1,094
- Other operating charges -€494
down €494 (-26.4%), from €1,872 to €1,378
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 | €62,091 | €64,140 | +€2,049 | +3.3% |
| Fixed assets | 21/28 | €2,921 | €1,826 | -€1,094 | -37.5% |
| Tangible fixed assets | 22/27 | €2,921 | €1,826 | -€1,094 | -37.5% |
| Furniture and vehicles | 24 | €2,921 | €1,826 | -€1,094 | -37.5% |
| Current assets | 29/58 | €59,170 | €62,314 | +€3,144 | +5.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,394 | €42,314 | +€3,920 | +10.2% |
| Trade receivables | 40 | €35,490 | €37,186 | +€1,696 | +4.8% |
| Other amounts receivable | 41 | €2,904 | €5,128 | +€2,224 | +76.6% |
| Cash at bank and in hand | 54/58 | €776 | - | -€776 | |
| Total equity and liabilities | 10/49 | €62,091 | €64,140 | +€2,049 | +3.3% |
| Equity | 10/15 | €52,091 | €41,813 | -€10,278 | -19.7% |
| Contributions | 10/11 | €186 | €186 | = | 0.0% |
| Reserves | 13 | €51,906 | €41,627 | -€10,278 | -19.8% |
| Distributable reserves | 133 | €51,906 | €41,627 | -€10,278 | -19.8% |
| Amounts payable | 17/49 | €9,999 | €22,327 | +€12,328 | +123.3% |
| Amounts payable within one year | 42/48 | €9,999 | €22,327 | +€12,328 | +123.3% |
| Financial debts | 43 | - | €10,587 | +€10,587 | |
| Credit institutions | 430/8 | - | €10,587 | +€10,587 | |
| Trade debts | 44 | €186 | €3,329 | +€3,143 | +1689.8% |
| Suppliers | 440/4 | €186 | €3,329 | +€3,143 | +1689.8% |
| Taxes, remuneration and social security | 45 | €8,954 | €8,411 | -€544 | -6.1% |
| Taxes | 450/3 | €8,954 | €8,411 | -€544 | -6.1% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,972 | €1,094 | -€878 | -44.5% |
| Other operating charges | 640/8 | €1,872 | €1,378 | -€494 | -26.4% |
| Gross operating margin | 9900 | €20,897 | €31,362 | +€10,465 | +50.1% |
| Operating profit (loss) | 9901 | €17,053 | €28,889 | +€11,837 | +69.4% |
| Financial income | 75/76B | €7 | €5 | -€2 | -27.3% |
| Recurring financial income | 75 | €7 | €5 | -€2 | -27.3% |
| Financial charges | 65/66B | €253 | €336 | +€83 | +32.9% |
| Recurring financial charges | 65 | €253 | €336 | +€83 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €16,807 | €28,559 | +€11,752 | +69.9% |
| Income taxes | 67/77 | €5,576 | €7,593 | +€2,016 | +36.2% |
| Profit (loss) for the period | 9904 | €11,231 | €20,966 | +€9,735 | +86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,231 | €20,966 | +€9,735 | +86.7% |
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 28 September 2026 via checked.be.