REAL DESIGN: 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.
REAL DESIGN
Largest movements
- Receivables within one year -€20,604
down €20,604 (-19.2%), from €107,306 to €86,702
of which Trade receivables: -€19,444
- Trade debts -€46,657
down €46,657 (-40.4%), from €115,566 to €68,909
- Other debts +€33,895
up €33,895 (+17.7%), from €191,410 to €225,305
- Reserves -€15,294
down €15,294 (-39.2%), from €39,059 to €23,765
of which Distributable reserves: -€15,294
- Advances received +€11,371
new in 2025: €11,371
- Gross operating margin -€18,678
down €18,678, from €8,885 to -€9,793
- Financial income +€13,916
up €13,916 (+20,709%), from €67 to €13,983
of which Non-recurring financial income: +€13,983
- Other operating charges +€3,303
up €3,303 (+114%), from €2,904 to €6,207
- Financial charges -€858
down €858 (-71.3%), from €1,203 to €345
- Depreciation -€395
down €395 (-3.0%), from €13,014 to €12,620
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 | €821,884 | €803,426 | -€18,458 | -2.2% |
| Fixed assets | 21/28 | €631,018 | €637,353 | +€6,336 | +1.0% |
| Tangible fixed assets | 22/27 | €631,018 | €637,353 | +€6,336 | +1.0% |
| Land and buildings | 22 | €597,148 | €590,091 | -€7,057 | -1.2% |
| Plant, machinery and equipment | 23 | €4,770 | €3,498 | -€1,272 | -26.7% |
| Furniture and vehicles | 24 | €24,401 | €39,065 | +€14,664 | +60.1% |
| Assets under construction and advance payments | 27 | €4,700 | €4,700 | = | 0.0% |
| Current assets | 29/58 | €190,866 | €166,073 | -€24,793 | -13.0% |
| Stocks and contracts in progress | 3 | €67,238 | €63,530 | -€3,708 | -5.5% |
| Stocks | 30/36 | €34,388 | €38,057 | +€3,669 | +10.7% |
| Contracts in progress | 37 | €32,850 | €25,473 | -€7,377 | -22.5% |
| Amounts receivable within one year | 40/41 | €107,306 | €86,702 | -€20,604 | -19.2% |
| Trade receivables | 40 | €101,588 | €82,144 | -€19,444 | -19.1% |
| Other amounts receivable | 41 | €5,718 | €4,558 | -€1,160 | -20.3% |
| Cash at bank and in hand | 54/58 | €4,327 | €4,470 | +€143 | +3.3% |
| Deferred charges and accrued income | 490/1 | €11,995 | €11,371 | -€624 | -5.2% |
| Total equity and liabilities | 10/49 | €821,884 | €803,426 | -€18,458 | -2.2% |
| Equity | 10/15 | €59,059 | €43,765 | -€15,294 | -25.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €39,059 | €23,765 | -€15,294 | -39.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €37,059 | €21,765 | -€15,294 | -41.3% |
| Amounts payable | 17/49 | €762,825 | €759,661 | -€3,164 | -0.4% |
| Amounts payable after more than one year | 17 | €376,945 | €376,945 | = | 0.0% |
| Financial debts | 170/4 | €376,945 | €376,945 | = | 0.0% |
| Amounts payable within one year | 42/48 | €385,880 | €382,716 | -€3,164 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €61,615 | €61,615 | = | 0.0% |
| Financial debts | 43 | €10,614 | €10,614 | = | 0.0% |
| Credit institutions | 430/8 | €10,614 | €10,614 | = | 0.0% |
| Trade debts | 44 | €115,566 | €68,909 | -€46,657 | -40.4% |
| Suppliers | 440/4 | €115,566 | €68,909 | -€46,657 | -40.4% |
| Advances received on contracts in progress | 46 | - | €11,371 | +€11,371 | |
| Taxes, remuneration and social security | 45 | €6,675 | €4,903 | -€1,772 | -26.5% |
| Taxes | 450/3 | €6,675 | €4,903 | -€1,772 | -26.5% |
| Other amounts payable | 47/48 | €191,410 | €225,305 | +€33,895 | +17.7% |
| Remuneration, social security and pensions | 62 | €293 | €94 | -€199 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,014 | €12,620 | -€395 | -3.0% |
| Other operating charges | 640/8 | €2,904 | €6,207 | +€3,303 | +114% |
| Gross operating margin | 9900 | €8,885 | -€9,793 | -€18,678 | |
| Operating profit (loss) | 9901 | -€7,327 | -€28,714 | -€21,387 | -292% |
| Financial income | 75/76B | €67 | €13,983 | +€13,916 | +20,709% |
| Recurring financial income | 75 | €67 | €13,983 | +€13,916 | +20,709% |
| Non-recurring financial income | 76B | - | €13,983 | +€13,983 | |
| Financial charges | 65/66B | €1,203 | €345 | -€858 | -71.3% |
| Recurring financial charges | 65 | €1,203 | €345 | -€858 | -71.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,462 | -€15,076 | -€6,613 | -78.2% |
| Income taxes | 67/77 | €214 | €218 | +€5 | +2.1% |
| Profit (loss) for the period | 9904 | -€8,676 | -€15,294 | -€6,618 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,676 | -€15,294 | -€6,618 | -76.3% |
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 19 October 2026 via checked.be.