R-advice: 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.
R-advice
Largest movements
- Cash +€37,964
up €37,964 (+88.7%), from €42,801 to €80,765
mainly Other debts (+€94,470) and Net result for the year (+€31,642)
- Receivables within one year -€25,647
down €25,647 (-48.3%), from €53,146 to €27,499
of which Trade receivables: -€30,879
- Tangible fixed assets -€20,169
down €20,169 (-4.6%), from €439,502 to €419,334
of which Land and buildings: -€11,608
- Other debts +€94,470
up €94,470 (+74.8%), from €126,367 to €220,837
- Reserves -€70,567
down €70,567 (-79.7%), from €88,567 to €18,000
- Debts after one year -€21,666
down €21,666 (-7.7%), from €279,861 to €258,195
- Financial charges -€51,290
down €51,290 (-81.9%), from €62,607 to €11,316
- Gross operating margin -€37,894
down €37,894 (-33.2%), from €114,223 to €76,329
- Taxes +€2,430
up €2,430 (+33.1%), from €7,338 to €9,768
- Other operating charges +€1,223
up €1,223 (+109.6%), from €1,116 to €2,339
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 | €536,723 | €528,903 | -€7,819 | -1.5% |
| Fixed assets | 21/28 | €439,502 | €419,334 | -€20,169 | -4.6% |
| Tangible fixed assets | 22/27 | €439,502 | €419,334 | -€20,169 | -4.6% |
| Land and buildings | 22 | €401,537 | €389,928 | -€11,608 | -2.9% |
| Furniture and vehicles | 24 | €18,546 | €13,145 | -€5,401 | -29.1% |
| Other tangible fixed assets | 26 | €19,420 | €16,260 | -€3,160 | -16.3% |
| Current assets | 29/58 | €97,220 | €109,570 | +€12,349 | +12.7% |
| Amounts receivable within one year | 40/41 | €53,146 | €27,499 | -€25,647 | -48.3% |
| Trade receivables | 40 | €53,146 | €22,267 | -€30,879 | -58.1% |
| Other amounts receivable | 41 | - | €5,232 | +€5,232 | |
| Cash at bank and in hand | 54/58 | €42,801 | €80,765 | +€37,964 | +88.7% |
| Deferred charges and accrued income | 490/1 | €1,274 | €1,305 | +€32 | +2.5% |
| Total equity and liabilities | 10/49 | €536,723 | €528,903 | -€7,819 | -1.5% |
| Equity | 10/15 | €93,567 | €23,000 | -€70,567 | -75.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €88,567 | €18,000 | -€70,567 | -79.7% |
| Distributable reserves | 133 | €88,567 | €18,000 | -€70,567 | -79.7% |
| Amounts payable | 17/49 | €443,155 | €505,903 | +€62,748 | +14.2% |
| Amounts payable after more than one year | 17 | €279,861 | €258,195 | -€21,666 | -7.7% |
| Financial debts | 170/4 | €279,861 | €258,195 | -€21,666 | -7.7% |
| Amounts payable within one year | 42/48 | €163,294 | €247,709 | +€84,414 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €28,512 | €23,216 | -€5,296 | -18.6% |
| Trade debts | 44 | €2,522 | €597 | -€1,926 | -76.3% |
| Suppliers | 440/4 | €2,522 | €597 | -€1,926 | -76.3% |
| Taxes, remuneration and social security | 45 | €5,893 | €3,058 | -€2,835 | -48.1% |
| Taxes | 450/3 | €5,893 | €3,058 | -€2,835 | -48.1% |
| Other amounts payable | 47/48 | €126,367 | €220,837 | +€94,470 | +74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,160 | €21,263 | +€103 | +0.5% |
| Other operating charges | 640/8 | €1,116 | €2,339 | +€1,223 | +109.6% |
| Gross operating margin | 9900 | €114,223 | €76,329 | -€37,894 | -33.2% |
| Operating profit (loss) | 9901 | €91,947 | €52,727 | -€39,220 | -42.7% |
| Financial charges | 65/66B | €62,607 | €11,316 | -€51,290 | -81.9% |
| Recurring financial charges | 65 | €62,607 | €11,316 | -€51,290 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | €29,340 | €41,410 | +€12,070 | +41.1% |
| Income taxes | 67/77 | €7,338 | €9,768 | +€2,430 | +33.1% |
| Profit (loss) for the period | 9904 | €22,002 | €31,642 | +€9,640 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,002 | €31,642 | +€9,640 | +43.8% |
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 11 October 2026 via checked.be.