S. BODARWE: 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.
S. BODARWE
Largest movements
- Stocks and contracts -€147,842
down €147,842 (-51.3%), from €288,116 to €140,274
- Cash +€113,848
up €113,848 (+239%), from €47,623 to €161,471
mainly Stocks and contracts (+€147,842) and Investment in fixed assets (net) (+€39,234)
- Tangible fixed assets -€55,386
down €55,386 (-75.5%), from €73,373 to €17,988
of which Land and buildings: -€41,433
- Deferred charges and accrued income -€5,689
down €5,689 (-35.1%), from €16,189 to €10,500
- Receivables within one year +€4,435
up €4,435 (+51.8%), from €8,555 to €12,990
of which Other amounts receivable: +€5,095
- Profit (loss) carried forward -€55,197
down €55,197, from €34,243 to -€20,954
- Other debts -€18,714
down €18,714 (-7.6%), from €245,749 to €227,035
- Tax, wage and social debts -€10,378
down €10,378 (-59.7%), from €17,390 to €7,012
of which Remuneration and social security: -€10,949
- Debts after one year -€5,250
down €5,250 (-4.5%), from €115,750 to €110,500
- Purchases and services +€48,986
new in 2025: €48,986
- Turnover +€40,744
new in 2025: €40,744
- Gross operating margin -€26,326
down €26,326, from €20,564 to -€5,762
- Other operating charges +€19,849
up €19,849 (+1,941%), from €1,022 to €20,872
- Staff costs +€3,661
up €3,661 (+130%), from €2,810 to €6,471
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 | €433,856 | €343,223 | -€90,633 | -20.9% |
| Fixed assets | 21/28 | €73,373 | €17,988 | -€55,386 | -75.5% |
| Tangible fixed assets | 22/27 | €73,373 | €17,988 | -€55,386 | -75.5% |
| Land and buildings | 22 | €41,433 | €0 | -€41,433 | -100% |
| Plant, machinery and equipment | 23 | €6,748 | €4,744 | -€2,004 | -29.7% |
| Furniture and vehicles | 24 | €25,192 | €13,244 | -€11,949 | -47.4% |
| Current assets | 29/58 | €360,482 | €325,235 | -€35,248 | -9.8% |
| Stocks and contracts in progress | 3 | €288,116 | €140,274 | -€147,842 | -51.3% |
| Stocks | 30/36 | €288,116 | €140,274 | -€147,842 | -51.3% |
| Amounts receivable within one year | 40/41 | €8,555 | €12,990 | +€4,435 | +51.8% |
| Trade receivables | 40 | €8,555 | €7,895 | -€660 | -7.7% |
| Other amounts receivable | 41 | €0 | €5,095 | +€5,095 | |
| Cash at bank and in hand | 54/58 | €47,623 | €161,471 | +€113,848 | +239% |
| Deferred charges and accrued income | 490/1 | €16,189 | €10,500 | -€5,689 | -35.1% |
| Total equity and liabilities | 10/49 | €433,856 | €343,223 | -€90,633 | -20.9% |
| Equity | 10/15 | €52,843 | -€2,354 | -€55,197 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,243 | -€20,954 | -€55,197 | |
| Amounts payable | 17/49 | €381,013 | €345,577 | -€35,436 | -9.3% |
| Amounts payable after more than one year | 17 | €115,750 | €110,500 | -€5,250 | -4.5% |
| Financial debts | 170/4 | €115,750 | €110,500 | -€5,250 | -4.5% |
| Amounts payable within one year | 42/48 | €265,263 | €235,077 | -€30,186 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €1,711 | €0 | -€1,711 | -100% |
| Trade debts | 44 | €414 | €1,030 | +€616 | +149% |
| Suppliers | 440/4 | €414 | €1,030 | +€616 | +149% |
| Taxes, remuneration and social security | 45 | €17,390 | €7,012 | -€10,378 | -59.7% |
| Taxes | 450/3 | €4,838 | €5,409 | +€571 | +11.8% |
| Remuneration and social security | 454/9 | €12,552 | €1,603 | -€10,949 | -87.2% |
| Other amounts payable | 47/48 | €245,749 | €227,035 | -€18,714 | -7.6% |
| Turnover | 70 | - | €40,744 | +€40,744 | |
| Non-recurring operating income | 76A | - | €2,479 | +€2,479 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €48,986 | +€48,986 | |
| Remuneration, social security and pensions | 62 | €2,810 | €6,471 | +€3,661 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,440 | €16,152 | -€2,289 | -12.4% |
| Other operating charges | 640/8 | €1,022 | €20,872 | +€19,849 | +1,941% |
| Gross operating margin | 9900 | €20,564 | -€5,762 | -€26,326 | |
| Operating profit (loss) | 9901 | -€1,709 | -€49,256 | -€47,547 | -2,782% |
| Financial charges | 65/66B | €5,903 | €5,515 | -€388 | -6.6% |
| Recurring financial charges | 65 | €5,903 | €5,515 | -€388 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,612 | -€54,771 | -€47,159 | -620% |
| Income taxes | 67/77 | €0 | €425 | +€425 | |
| Profit (loss) for the period | 9904 | -€7,612 | -€55,197 | -€47,585 | -625% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,612 | -€55,197 | -€47,585 | -625% |
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 14 October 2026 via checked.be.