Recode: what changed
Two fiscal 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.
Recode
Largest movements
- Cash +€65,765
up €65,765 (+50.8%), from €129,486 to €195,252
mainly Net result for the year (+€71,271) and Depreciation (+€870)
- Profit (loss) carried forward +€71,271
up €71,271 (+70.8%), from €100,723 to €171,993
- Gross operating margin -€8,931
down €8,931 (-8.9%), from €100,423 to €91,491
- Taxes -€1,661
down €1,661 (-8.3%), from €20,059 to €18,398
- Financial income +€1,180
up €1,180 (+18636.0%), from €6 to €1,186
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 | €130,354 | €197,570 | +€67,216 | +51.6% |
| Fixed assets | 21/28 | €799 | €1,672 | +€873 | +109.3% |
| Tangible fixed assets | 22/27 | €799 | €1,672 | +€873 | +109.3% |
| Furniture and vehicles | 24 | €799 | €1,672 | +€873 | +109.3% |
| Current assets | 29/58 | €129,555 | €195,898 | +€66,343 | +51.2% |
| Cash at bank and in hand | 54/58 | €129,486 | €195,252 | +€65,765 | +50.8% |
| Deferred charges and accrued income | 490/1 | €69 | €646 | +€577 | +842.2% |
| Total equity and liabilities | 10/49 | €130,354 | €197,570 | +€67,216 | +51.6% |
| Equity | 10/15 | €103,223 | €174,493 | +€71,271 | +69.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,723 | €171,993 | +€71,271 | +70.8% |
| Amounts payable | 17/49 | €27,131 | €23,076 | -€4,055 | -14.9% |
| Amounts payable within one year | 42/48 | €26,600 | €22,268 | -€4,332 | -16.3% |
| Trade debts | 44 | €3,298 | €2,378 | -€920 | -27.9% |
| Suppliers | 440/4 | €3,298 | €2,378 | -€920 | -27.9% |
| Taxes, remuneration and social security | 45 | €21,702 | €19,890 | -€1,811 | -8.3% |
| Taxes | 450/3 | €21,702 | €19,890 | -€1,811 | -8.3% |
| Other amounts payable | 47/48 | €1,600 | €0 | -€1,600 | -100.0% |
| Accrued charges and deferred income | 492/3 | €531 | €808 | +€277 | +52.1% |
| Remuneration, social security and pensions | 62 | €1,428 | €1,908 | +€480 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €417 | €870 | +€453 | +108.8% |
| Other operating charges | 640/8 | €64 | €130 | +€66 | +103.4% |
| Gross operating margin | 9900 | €100,423 | €91,491 | -€8,931 | -8.9% |
| Operating profit (loss) | 9901 | €98,514 | €88,583 | -€9,931 | -10.1% |
| Financial income | 75/76B | €6 | €1,186 | +€1,180 | +18636.0% |
| Recurring financial income | 75 | €6 | €1,186 | +€1,180 | +18636.0% |
| Financial charges | 65/66B | €35 | €100 | +€65 | +185.9% |
| Recurring financial charges | 65 | €35 | €100 | +€65 | +185.9% |
| Profit (loss) for the period before taxes | 9903 | €98,485 | €89,669 | -€8,816 | -9.0% |
| Income taxes | 67/77 | €20,059 | €18,398 | -€1,661 | -8.3% |
| Profit (loss) for the period | 9904 | €78,426 | €71,271 | -€7,155 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,426 | €71,271 | -€7,155 | -9.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.