R. LISMONT: 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. LISMONT
Largest movements
- Stocks and contracts -€952,303
down €952,303 (-95.4%), from €998,413 to €46,110
- Receivables within one year -€534,120
down €534,120 (-80.6%), from €662,628 to €128,507
of which Trade receivables: -€556,628
- Cash +€110,563
up €110,563 (+144%), from €76,937 to €187,499
mainly Stocks and contracts (+€952,303) and Receivables within one year (+€534,120)
- Current investments -€34,427
down €34,427 (-100%), from €34,427 to €0
- Reserves -€1.2m
down €1.2m (-83.5%), from €1.4m to €229,885
of which Distributable reserves: -€1.2m
- Tax, wage and social debts -€108,228
down €108,228 (-91.4%), from €118,365 to €10,137
of which Remuneration and social security: -€71,962
- Trade debts -€97,546
down €97,546 (-78.1%), from €124,936 to €27,390
- Short-term financial debts -€21,278
down €21,278 (-100%), from €21,278 to €0
- Gross operating margin -€936,097
down €936,097, from €674,211 to -€261,887
- Write-downs -€595,009
down €595,009, from €267,139 to -€327,869
- Staff costs -€388,722
down €388,722 (-45.5%), from €854,793 to €466,071
- Provisions +€312,635
new in 2025: €312,635
- Other operating charges +€22,314
up €22,314 (+50.5%), from €44,186 to €66,501
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 | €1,808,434 | €392,422 | -€1.4m | -78.3% |
| Fixed assets | 21/28 | €15,419 | €13,414 | -€2,005 | -13.0% |
| Tangible fixed assets | 22/27 | €15,284 | €13,414 | -€1,870 | -12.2% |
| Plant, machinery and equipment | 23 | €8,067 | €4,902 | -€3,164 | -39.2% |
| Furniture and vehicles | 24 | €455 | €8,512 | +€8,057 | +1,771% |
| Leasing and similar rights | 25 | €6,762 | €0 | -€6,762 | -100% |
| Financial fixed assets | 28 | €135 | €0 | -€135 | -100% |
| Current assets | 29/58 | €1,793,016 | €379,008 | -€1.4m | -78.9% |
| Stocks and contracts in progress | 3 | €998,413 | €46,110 | -€952,303 | -95.4% |
| Stocks | 30/36 | €998,413 | €46,110 | -€952,303 | -95.4% |
| Amounts receivable within one year | 40/41 | €662,628 | €128,507 | -€534,120 | -80.6% |
| Trade receivables | 40 | €646,886 | €90,257 | -€556,628 | -86.0% |
| Other amounts receivable | 41 | €15,742 | €38,250 | +€22,508 | +143% |
| Current investments | 50/53 | €34,427 | €0 | -€34,427 | -100% |
| Cash at bank and in hand | 54/58 | €76,937 | €187,499 | +€110,563 | +144% |
| Deferred charges and accrued income | 490/1 | €20,611 | €16,891 | -€3,720 | -18.0% |
| Total equity and liabilities | 10/49 | €1,808,434 | €392,422 | -€1.4m | -78.3% |
| Equity | 10/15 | €1,494,663 | €329,042 | -€1.2m | -78.0% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €1,395,506 | €229,885 | -€1.2m | -83.5% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,078 | €43,078 | = | 0.0% |
| Distributable reserves | 133 | €1,342,513 | €176,891 | -€1.2m | -86.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €313,771 | €63,380 | -€250,391 | -79.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €288,615 | €37,527 | -€251,088 | -87.0% |
| Current portion of amounts payable after more than one year | 42 | €6,037 | €0 | -€6,037 | -100% |
| Financial debts | 43 | €21,278 | €0 | -€21,278 | -100% |
| Credit institutions | 430/8 | €21,278 | €0 | -€21,278 | -100% |
| Trade debts | 44 | €124,936 | €27,390 | -€97,546 | -78.1% |
| Suppliers | 440/4 | €124,936 | €27,390 | -€97,546 | -78.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €118,365 | €10,137 | -€108,228 | -91.4% |
| Taxes | 450/3 | €45,433 | €9,168 | -€36,265 | -79.8% |
| Remuneration and social security | 454/9 | €72,932 | €970 | -€71,962 | -98.7% |
| Other amounts payable | 47/48 | €18,000 | €0 | -€18,000 | -100% |
| Accrued charges and deferred income | 492/3 | €25,156 | €25,852 | +€697 | +2.8% |
| Non-recurring operating income | 76A | - | €219,601 | +€219,601 | |
| Remuneration, social security and pensions | 62 | €854,793 | €466,071 | -€388,722 | -45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,090 | €13,559 | +€469 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €267,139 | -€327,869 | -€595,009 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €312,635 | +€312,635 | |
| Other operating charges | 640/8 | €44,186 | €66,501 | +€22,314 | +50.5% |
| Non-recurring operating charges | 66A | €179,573 | €525 | -€179,048 | -99.7% |
| Gross operating margin | 9900 | €674,211 | -€261,887 | -€936,097 | |
| Operating profit (loss) | 9901 | -€684,571 | -€793,309 | -€108,738 | -15.9% |
| Financial income | 75/76B | €6,250 | €2,614 | -€3,636 | -58.2% |
| Recurring financial income | 75 | €6,250 | €2,614 | -€3,636 | -58.2% |
| Financial charges | 65/66B | €13,863 | €4,926 | -€8,936 | -64.5% |
| Recurring financial charges | 65 | €13,863 | €4,926 | -€8,936 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | -€692,184 | -€795,621 | -€103,437 | -14.9% |
| Income taxes | 67/77 | €412 | €0 | -€412 | -100% |
| Profit (loss) for the period | 9904 | -€692,596 | -€795,621 | -€103,026 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€692,596 | -€795,621 | -€103,026 | -14.9% |
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 27 October 2026 via checked.be.