R & S: 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 & S
Largest movements
- Receivables within one year -€17,310
down €17,310 (-65.9%), from €26,265 to €8,955
of which Trade receivables: -€12,524
- Stocks and contracts +€11,233
up €11,233 (+17.7%), from €63,461 to €74,694
- Cash +€9,549
up €9,549 (+743.2%), from €1,285 to €10,834
mainly Receivables within one year (+€17,310) and Debts after one year (+€17,077)
- Tangible fixed assets -€8,304
down €8,304 (-21.5%), from €38,703 to €30,399
of which Furniture and vehicles: -€7,612
- Trade debts -€30,834
down €30,834 (-55.0%), from €56,099 to €25,266
- Debts after one year +€17,077
new in 2025: €17,077
- Current portion of long-term debt +€5,368
new in 2025: €5,368
- Tax, wage and social debts +€1,941
up €1,941 (+392.0%), from €495 to €2,436
- Profit (loss) carried forward +€1,616
up €1,616 (+3.1%), from €52,660 to €54,276
- Gross operating margin +€7,927
up €7,927 (+76.1%), from €10,414 to €18,341
- Depreciation +€6,786
up €6,786 (+410.7%), from €1,652 to €8,438
- Other operating charges -€2,634
down €2,634 (-35.7%), from €7,374 to €4,741
- Financial charges +€1,141
up €1,141 (+77.7%), from €1,468 to €2,610
- Taxes +€1,102
up €1,102 (+244.6%), from €450 to €1,552
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 | €129,714 | €124,882 | -€4,832 | -3.7% |
| Fixed assets | 21/28 | €38,703 | €30,399 | -€8,304 | -21.5% |
| Tangible fixed assets | 22/27 | €38,703 | €30,399 | -€8,304 | -21.5% |
| Plant, machinery and equipment | 23 | €1,390 | €698 | -€692 | -49.8% |
| Furniture and vehicles | 24 | €37,314 | €29,701 | -€7,612 | -20.4% |
| Current assets | 29/58 | €91,011 | €94,483 | +€3,472 | +3.8% |
| Stocks and contracts in progress | 3 | €63,461 | €74,694 | +€11,233 | +17.7% |
| Stocks | 30/36 | €63,461 | €74,694 | +€11,233 | +17.7% |
| Amounts receivable within one year | 40/41 | €26,265 | €8,955 | -€17,310 | -65.9% |
| Trade receivables | 40 | €12,524 | - | -€12,524 | |
| Other amounts receivable | 41 | €13,741 | €8,955 | -€4,786 | -34.8% |
| Cash at bank and in hand | 54/58 | €1,285 | €10,834 | +€9,549 | +743.2% |
| Total equity and liabilities | 10/49 | €129,714 | €124,882 | -€4,832 | -3.7% |
| Equity | 10/15 | €73,120 | €74,736 | +€1,616 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,660 | €54,276 | +€1,616 | +3.1% |
| Amounts payable | 17/49 | €56,594 | €50,147 | -€6,448 | -11.4% |
| Amounts payable after more than one year | 17 | - | €17,077 | +€17,077 | |
| Financial debts | 170/4 | - | €17,077 | +€17,077 | |
| Amounts payable within one year | 42/48 | €56,594 | €33,070 | -€23,525 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | - | €5,368 | +€5,368 | |
| Trade debts | 44 | €56,099 | €25,266 | -€30,834 | -55.0% |
| Suppliers | 440/4 | €56,099 | €25,266 | -€30,834 | -55.0% |
| Taxes, remuneration and social security | 45 | €495 | €2,436 | +€1,941 | +392.0% |
| Taxes | 450/3 | €495 | €2,436 | +€1,941 | +392.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,652 | €8,438 | +€6,786 | +410.7% |
| Other operating charges | 640/8 | €7,374 | €4,741 | -€2,634 | -35.7% |
| Gross operating margin | 9900 | €10,414 | €18,341 | +€7,927 | +76.1% |
| Operating profit (loss) | 9901 | €1,388 | €5,163 | +€3,775 | +272.1% |
| Financial income | 75/76B | €1,097 | €615 | -€482 | -44.0% |
| Recurring financial income | 75 | €1,097 | €615 | -€482 | -44.0% |
| Financial charges | 65/66B | €1,468 | €2,610 | +€1,141 | +77.7% |
| Recurring financial charges | 65 | €1,468 | €2,610 | +€1,141 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | €1,016 | €3,168 | +€2,152 | +211.7% |
| Income taxes | 67/77 | €450 | €1,552 | +€1,102 | +244.6% |
| Profit (loss) for the period | 9904 | €566 | €1,616 | +€1,050 | +185.5% |
| Profit (loss) for the period to be appropriated | 9905 | €566 | €1,616 | +€1,050 | +185.5% |
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 10 October 2026 via checked.be.