Raphaël Gevers, Avocat: 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.
Raphaël Gevers, Avocat
Largest movements
- Receivables within one year +€29,494
up €29,494 (+30.0%), from €98,280 to €127,774
of which Other amounts receivable: +€19,841
- Reserves +€23,247
up €23,247 (+51.5%), from €45,183 to €68,429
- Tax, wage and social debts +€20,546
up €20,546 (+165%), from €12,487 to €33,033
of which Taxes: +€20,532
- Debts after one year -€13,338
down €13,338 (-30.5%), from €43,712 to €30,375
- Taxes +€40,271
up €40,271 (+33,624%), from €120 to €40,391
- Depreciation -€14,485
down €14,485 (-75.1%), from €19,297 to €4,812
- Financial income +€2,883
up €2,883 (+69.3%), from €4,160 to €7,043
- Gross operating margin +€1,649
up €1,649 (+2.5%), from €66,708 to €68,357
- Other operating charges +€898
up €898 (+234%), from €384 to €1,283
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 | €187,995 | €217,089 | +€29,094 | +15.5% |
| Fixed assets | 21/28 | €89,403 | €88,591 | -€812 | -0.9% |
| Tangible fixed assets | 22/27 | €81,903 | €81,091 | -€812 | -1.0% |
| Land and buildings | 22 | €71,021 | €68,685 | -€2,335 | -3.3% |
| Plant, machinery and equipment | 23 | €7,582 | €9,105 | +€1,523 | +20.1% |
| Other tangible fixed assets | 26 | €3,300 | €3,300 | = | 0.0% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €98,593 | €128,499 | +€29,906 | +30.3% |
| Amounts receivable within one year | 40/41 | €98,280 | €127,774 | +€29,494 | +30.0% |
| Trade receivables | 40 | €4,732 | €14,384 | +€9,652 | +204% |
| Other amounts receivable | 41 | €93,548 | €113,390 | +€19,841 | +21.2% |
| Cash at bank and in hand | 54/58 | €313 | €725 | +€412 | +132% |
| Total equity and liabilities | 10/49 | €187,995 | €217,089 | +€29,094 | +15.5% |
| Equity | 10/15 | €95,102 | €118,349 | +€23,247 | +24.4% |
| Reserves | 13 | €45,183 | €68,429 | +€23,247 | +51.5% |
| Distributable reserves | 133 | €45,183 | €68,429 | +€23,247 | +51.5% |
| Profit (loss) carried forward | 14 | €49,919 | €49,919 | = | 0.0% |
| Amounts payable | 17/49 | €92,893 | €98,741 | +€5,847 | +6.3% |
| Amounts payable after more than one year | 17 | €43,712 | €30,375 | -€13,338 | -30.5% |
| Financial debts | 170/4 | €43,712 | €30,375 | -€13,338 | -30.5% |
| Amounts payable within one year | 42/48 | €49,181 | €68,366 | +€19,185 | +39.0% |
| Current portion of amounts payable after more than one year | 42 | €13,947 | €13,338 | -€609 | -4.4% |
| Financial debts | 43 | €14,847 | €14,847 | = | 0.0% |
| Credit institutions | 430/8 | €14,847 | €14,847 | = | 0.0% |
| Trade debts | 44 | €7,901 | €7,149 | -€752 | -9.5% |
| Suppliers | 440/4 | €7,901 | €7,149 | -€752 | -9.5% |
| Taxes, remuneration and social security | 45 | €12,487 | €33,033 | +€20,546 | +165% |
| Taxes | 450/3 | €10,661 | €31,193 | +€20,532 | +193% |
| Remuneration and social security | 454/9 | €1,826 | €1,840 | +€14 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,297 | €4,812 | -€14,485 | -75.1% |
| Other operating charges | 640/8 | €384 | €1,283 | +€898 | +234% |
| Gross operating margin | 9900 | €66,708 | €68,357 | +€1,649 | +2.5% |
| Operating profit (loss) | 9901 | €47,027 | €62,263 | +€15,236 | +32.4% |
| Financial income | 75/76B | €4,160 | €7,043 | +€2,883 | +69.3% |
| Recurring financial income | 75 | €4,160 | €7,043 | +€2,883 | +69.3% |
| Financial charges | 65/66B | €5,885 | €5,668 | -€217 | -3.7% |
| Recurring financial charges | 65 | €5,885 | €5,668 | -€217 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €45,302 | €63,637 | +€18,335 | +40.5% |
| Income taxes | 67/77 | €120 | €40,391 | +€40,271 | +33,624% |
| Profit (loss) for the period | 9904 | €45,183 | €23,247 | -€21,936 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €45,183 | €23,247 | -€21,936 | -48.5% |
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 22 October 2026 via checked.be.