Regenerative: 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.
Regenerative
Largest movements
- Tangible fixed assets +€173,821
up €173,821 (+663.0%), from €26,219 to €200,040
of which Land and buildings: +€180,000
- Cash -€43,744
down €43,744 (-57.9%), from €75,544 to €31,800
mainly Investment in fixed assets (net) (-€206,767) and Receivables within one year (-€43,441)
- Receivables within one year +€43,441
up €43,441 (+359.0%), from €12,101 to €55,541
of which Trade receivables: +€43,441
- Debts after one year +€143,271
up €143,271 (+911.7%), from €15,715 to €158,986
- Trade debts +€32,214
up €32,214 (+26744.3%), from €120 to €32,334
- Reserves -€9,746
down €9,746 (-14.2%), from €68,571 to €58,825
- Current portion of long-term debt +€8,960
up €8,960 (+116.9%), from €7,662 to €16,622
- Depreciation +€31,783
up €31,783 (+2733.2%), from €1,163 to €32,946
- Gross operating margin -€10,280
down €10,280 (-22.7%), from €45,342 to €35,062
- Taxes -€8,713
down €8,713 (-97.4%), from €8,942 to €229
- Other operating charges +€6,891
up €6,891 (+736.4%), from €936 to €7,826
- Financial charges +€3,349
up €3,349 (+731.9%), from €458 to €3,807
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 | €114,009 | €289,216 | +€175,206 | +153.7% |
| Fixed assets | 21/28 | €26,219 | €200,040 | +€173,821 | +663.0% |
| Tangible fixed assets | 22/27 | €26,219 | €200,040 | +€173,821 | +663.0% |
| Land and buildings | 22 | - | €180,000 | +€180,000 | |
| Furniture and vehicles | 24 | €26,219 | €20,040 | -€6,179 | -23.6% |
| Current assets | 29/58 | €87,790 | €89,176 | +€1,386 | +1.6% |
| Amounts receivable within one year | 40/41 | €12,101 | €55,541 | +€43,441 | +359.0% |
| Trade receivables | 40 | €12,100 | €55,541 | +€43,441 | +359.0% |
| Other amounts receivable | 41 | €1 | €0 | -€1 | -100.0% |
| Cash at bank and in hand | 54/58 | €75,544 | €31,800 | -€43,744 | -57.9% |
| Deferred charges and accrued income | 490/1 | €145 | €1,835 | +€1,689 | +1161.2% |
| Total equity and liabilities | 10/49 | €114,009 | €289,216 | +€175,206 | +153.7% |
| Equity | 10/15 | €69,571 | €59,825 | -€9,746 | -14.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €68,571 | €58,825 | -€9,746 | -14.2% |
| Distributable reserves | 133 | €68,571 | €58,825 | -€9,746 | -14.2% |
| Amounts payable | 17/49 | €44,438 | €229,391 | +€184,953 | +416.2% |
| Amounts payable after more than one year | 17 | €15,715 | €158,986 | +€143,271 | +911.7% |
| Financial debts | 170/4 | €15,715 | €158,986 | +€143,271 | +911.7% |
| Amounts payable within one year | 42/48 | €28,723 | €70,008 | +€41,284 | +143.7% |
| Current portion of amounts payable after more than one year | 42 | €7,662 | €16,622 | +€8,960 | +116.9% |
| Trade debts | 44 | €120 | €32,334 | +€32,214 | +26744.3% |
| Suppliers | 440/4 | €120 | €32,334 | +€32,214 | +26744.3% |
| Taxes, remuneration and social security | 45 | €18,094 | €16,412 | -€1,681 | -9.3% |
| Taxes | 450/3 | €14,206 | €12,075 | -€2,131 | -15.0% |
| Remuneration and social security | 454/9 | €3,887 | €4,337 | +€450 | +11.6% |
| Other amounts payable | 47/48 | €2,847 | €4,639 | +€1,792 | +63.0% |
| Accrued charges and deferred income | 492/3 | - | €397 | +€397 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,163 | €32,946 | +€31,783 | +2733.2% |
| Other operating charges | 640/8 | €936 | €7,826 | +€6,891 | +736.4% |
| Gross operating margin | 9900 | €45,342 | €35,062 | -€10,280 | -22.7% |
| Operating profit (loss) | 9901 | €43,243 | -€5,710 | -€48,954 | |
| Financial charges | 65/66B | €458 | €3,807 | +€3,349 | +731.9% |
| Recurring financial charges | 65 | €458 | €3,807 | +€3,349 | +731.9% |
| Profit (loss) for the period before taxes | 9903 | €42,786 | -€9,517 | -€52,303 | |
| Income taxes | 67/77 | €8,942 | €229 | -€8,713 | -97.4% |
| Profit (loss) for the period | 9904 | €33,843 | -€9,746 | -€43,590 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,843 | -€9,746 | -€43,590 |
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.