SEEING IS BELIEVING: 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.
SEEING IS BELIEVING
Largest movements
- Cash -€28,180
down €28,180 (-70.1%), from €40,176 to €11,996
mainly Current portion of long-term debt (-€18,210) and Other debts (-€16,965)
- Receivables within one year -€15,570
down €15,570 (-14.2%), from €109,584 to €94,014
of which Other amounts receivable: -€16,630
- Tangible fixed assets -€14,248
down €14,248 (-28.5%), from €50,038 to €35,789
of which Furniture and vehicles: -€16,585
- Current portion of long-term debt -€18,210
down €18,210 (-82.2%), from €22,158 to €3,949
- Other debts -€16,965
down €16,965 (-51.4%), from €33,000 to €16,035
- Tax, wage and social debts -€9,219
down €9,219 (-95.1%), from €9,699 to €480
of which Taxes: -€9,219
- Reserves -€7,707
down €7,707 (-6.5%), from €118,243 to €110,536
of which Distributable reserves: -€7,707
- Debts after one year -€3,949
down €3,949 (-100%), from €3,949 to €0
- Gross operating margin -€33,904
down €33,904 (-47.3%), from €71,625 to €37,721
- Taxes -€10,253
down €10,253 (-62.7%), from €16,365 to €6,111
- Financial charges +€2,594
up €2,594 (+49.3%), from €5,258 to €7,853
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 | €199,797 | €141,799 | -€57,998 | -29.0% |
| Fixed assets | 21/28 | €50,038 | €35,789 | -€14,248 | -28.5% |
| Tangible fixed assets | 22/27 | €50,038 | €35,789 | -€14,248 | -28.5% |
| Furniture and vehicles | 24 | €32,929 | €16,344 | -€16,585 | -50.4% |
| Other tangible fixed assets | 26 | €17,109 | €19,445 | +€2,336 | +13.7% |
| Current assets | 29/58 | €149,760 | €106,010 | -€43,750 | -29.2% |
| Amounts receivable within one year | 40/41 | €109,584 | €94,014 | -€15,570 | -14.2% |
| Trade receivables | 40 | €15,727 | €16,787 | +€1,060 | +6.7% |
| Other amounts receivable | 41 | €93,857 | €77,227 | -€16,630 | -17.7% |
| Cash at bank and in hand | 54/58 | €40,176 | €11,996 | -€28,180 | -70.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €199,797 | €141,799 | -€57,998 | -29.0% |
| Equity | 10/15 | €124,443 | €116,736 | -€7,707 | -6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €118,243 | €110,536 | -€7,707 | -6.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €116,383 | €108,676 | -€7,707 | -6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €75,354 | €25,063 | -€50,291 | -66.7% |
| Amounts payable after more than one year | 17 | €3,949 | €0 | -€3,949 | -100% |
| Financial debts | 170/4 | €3,949 | €0 | -€3,949 | -100% |
| Amounts payable within one year | 42/48 | €71,406 | €25,063 | -€46,342 | -64.9% |
| Current portion of amounts payable after more than one year | 42 | €22,158 | €3,949 | -€18,210 | -82.2% |
| Trade debts | 44 | €6,549 | €4,600 | -€1,949 | -29.8% |
| Suppliers | 440/4 | €6,549 | €4,600 | -€1,949 | -29.8% |
| Taxes, remuneration and social security | 45 | €9,699 | €480 | -€9,219 | -95.1% |
| Taxes | 450/3 | €9,699 | €480 | -€9,219 | -95.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €33,000 | €16,035 | -€16,965 | -51.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,327 | €19,312 | -€15 | -0.1% |
| Other operating charges | 640/8 | €1,105 | €1,569 | +€464 | +42.0% |
| Gross operating margin | 9900 | €71,625 | €37,721 | -€33,904 | -47.3% |
| Operating profit (loss) | 9901 | €51,193 | €16,840 | -€34,353 | -67.1% |
| Financial income | 75/76B | €5,699 | €5,452 | -€247 | -4.3% |
| Recurring financial income | 75 | €5,699 | €5,452 | -€247 | -4.3% |
| Financial charges | 65/66B | €5,258 | €7,853 | +€2,594 | +49.3% |
| Recurring financial charges | 65 | €5,258 | €7,853 | +€2,594 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €51,634 | €14,440 | -€37,194 | -72.0% |
| Income taxes | 67/77 | €16,365 | €6,111 | -€10,253 | -62.7% |
| Profit (loss) for the period | 9904 | €35,269 | €8,328 | -€26,941 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,269 | €8,328 | -€26,941 | -76.4% |
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 20 October 2026 via checked.be.