Re-launch: 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.
Re-launch
Largest movements
- Cash +€30,514
up €30,514 (+142.8%), from €21,365 to €51,879
mainly Other debts (+€42,091) and Net result for the year (+€32,484)
- Receivables within one year +€11,416
up €11,416 (+75.1%), from €15,199 to €26,615
of which Trade receivables: +€10,816
- Deferred charges and accrued income +€2,263
up €2,263 (+403.6%), from €561 to €2,824
- Other debts +€42,091
up €42,091 (+253.2%), from €16,625 to €58,716
- Tax, wage and social debts +€4,240
up €4,240 (+54.7%), from €7,749 to €11,989
of which Taxes: +€4,337
- Reserves -€2,738
no longer reported in 2025 (was €2,738)
- Gross operating margin +€36,860
up €36,860 (+484.6%), from €7,606 to €44,466
- Taxes +€7,801
up €7,801 (+487.9%), from €1,599 to €9,400
- Financial charges +€2,087
up €2,087 (+560.9%), from €372 to €2,459
- Other operating charges -€838
down €838 (-86.4%), from €970 to €132
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 | €37,125 | €81,318 | +€44,193 | +119.0% |
| Current assets | 29/58 | €37,125 | €81,318 | +€44,193 | +119.0% |
| Amounts receivable within one year | 40/41 | €15,199 | €26,615 | +€11,416 | +75.1% |
| Trade receivables | 40 | €15,199 | €26,015 | +€10,816 | +71.2% |
| Other amounts receivable | 41 | - | €600 | +€600 | |
| Cash at bank and in hand | 54/58 | €21,365 | €51,879 | +€30,514 | +142.8% |
| Deferred charges and accrued income | 490/1 | €561 | €2,824 | +€2,263 | +403.6% |
| Total equity and liabilities | 10/49 | €37,125 | €81,318 | +€44,193 | +119.0% |
| Equity | 10/15 | €12,738 | €10,000 | -€2,738 | -21.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,738 | - | -€2,738 | |
| Distributable reserves | 133 | €2,738 | - | -€2,738 | |
| Amounts payable | 17/49 | €24,387 | €71,318 | +€46,931 | +192.4% |
| Amounts payable within one year | 42/48 | €24,374 | €71,318 | +€46,944 | +192.6% |
| Trade debts | 44 | - | €613 | +€613 | |
| Suppliers | 440/4 | - | €613 | +€613 | |
| Taxes, remuneration and social security | 45 | €7,749 | €11,989 | +€4,240 | +54.7% |
| Taxes | 450/3 | €7,652 | €11,989 | +€4,337 | +56.7% |
| Remuneration and social security | 454/9 | €97 | - | -€97 | |
| Other amounts payable | 47/48 | €16,625 | €58,716 | +€42,091 | +253.2% |
| Accrued charges and deferred income | 492/3 | €13 | - | -€13 | |
| Other operating charges | 640/8 | €970 | €132 | -€838 | -86.4% |
| Gross operating margin | 9900 | €7,606 | €44,466 | +€36,860 | +484.6% |
| Operating profit (loss) | 9901 | €6,636 | €44,334 | +€37,698 | +568.1% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €372 | €2,459 | +€2,087 | +560.9% |
| Recurring financial charges | 65 | €372 | €2,459 | +€2,087 | +560.9% |
| Profit (loss) for the period before taxes | 9903 | €6,264 | €41,884 | +€35,620 | +568.6% |
| Income taxes | 67/77 | €1,599 | €9,400 | +€7,801 | +487.9% |
| Profit (loss) for the period | 9904 | €4,665 | €32,484 | +€27,819 | +596.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,665 | €32,484 | +€27,819 | +596.3% |
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.