Select-Panels: 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.
Select-Panels
Largest movements
- Tangible fixed assets +€648,910
up €648,910, from €0 to €648,910
- Stocks and contracts -€66,891
down €66,891 (-10.2%), from €657,820 to €590,929
- Receivables within one year -€59,295
down €59,295 (-11.7%), from €508,956 to €449,661
of which Other amounts receivable: -€110,826
- Other debts +€472,060
up €472,060 (+398%), from €118,529 to €590,589
- Accrued charges and deferred income +€63,330
up €63,330 (+205%), from €30,875 to €94,205
- Debts after one year -€43,548
down €43,548 (-5.8%), from €749,225 to €705,677
- Trade debts +€27,017
up €27,017 (+523%), from €5,170 to €32,187
- Gross operating margin +€15,946
up €15,946 (+50.4%), from €31,658 to €47,604
- Depreciation +€11,090
up €11,090, from €0 to €11,090
- Financial charges +€4,340
up €4,340 (+9.2%), from €47,113 to €51,454
- Financial income +€530
up €530 (+2.5%), from €20,886 to €21,416
- Other operating charges +€493
up €493 (+26.3%), from €1,875 to €2,369
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 | €1,188,748 | €1,710,600 | +€521,852 | +43.9% |
| Fixed assets | 21/28 | €1,000 | €649,910 | +€648,910 | +64,891% |
| Tangible fixed assets | 22/27 | €0 | €648,910 | +€648,910 | |
| Land and buildings | 22 | €0 | €648,910 | +€648,910 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €1,187,748 | €1,060,690 | -€127,058 | -10.7% |
| Stocks and contracts in progress | 3 | €657,820 | €590,929 | -€66,891 | -10.2% |
| Stocks | 30/36 | €657,820 | €590,929 | -€66,891 | -10.2% |
| Amounts receivable within one year | 40/41 | €508,956 | €449,661 | -€59,295 | -11.7% |
| Trade receivables | 40 | €1,656 | €53,187 | +€51,531 | +3,112% |
| Other amounts receivable | 41 | €507,300 | €396,474 | -€110,826 | -21.8% |
| Cash at bank and in hand | 54/58 | €87 | €2,779 | +€2,692 | +3,087% |
| Deferred charges and accrued income | 490/1 | €20,884 | €17,320 | -€3,563 | -17.1% |
| Total equity and liabilities | 10/49 | €1,188,748 | €1,710,600 | +€521,852 | +43.9% |
| Equity | 10/15 | €212,238 | €215,799 | +€3,561 | +1.7% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Capital | 10 | €245,000 | €245,000 | = | 0.0% |
| Issued capital | 100 | €245,000 | €245,000 | = | 0.0% |
| Reserves | 13 | €24,826 | €24,826 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,500 | €24,500 | = | 0.0% |
| Legal reserve | 130 | €24,500 | €24,500 | = | 0.0% |
| Distributable reserves | 133 | €326 | €326 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,588 | -€54,027 | +€3,561 | +6.2% |
| Amounts payable | 17/49 | €976,510 | €1,494,801 | +€518,291 | +53.1% |
| Amounts payable after more than one year | 17 | €749,225 | €705,677 | -€43,548 | -5.8% |
| Financial debts | 170/4 | €749,225 | €705,677 | -€43,548 | -5.8% |
| Amounts payable within one year | 42/48 | €196,410 | €694,918 | +€498,508 | +254% |
| Current portion of amounts payable after more than one year | 42 | €71,944 | €71,597 | -€346 | -0.5% |
| Financial debts | 43 | €82 | €0 | -€82 | -100% |
| Credit institutions | 430/8 | €82 | €0 | -€82 | -100% |
| Trade debts | 44 | €5,170 | €32,187 | +€27,017 | +523% |
| Suppliers | 440/4 | €5,170 | €32,187 | +€27,017 | +523% |
| Taxes, remuneration and social security | 45 | €686 | €545 | -€141 | -20.5% |
| Taxes | 450/3 | €686 | €545 | -€141 | -20.5% |
| Other amounts payable | 47/48 | €118,529 | €590,589 | +€472,060 | +398% |
| Accrued charges and deferred income | 492/3 | €30,875 | €94,205 | +€63,330 | +205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €11,090 | +€11,090 | |
| Other operating charges | 640/8 | €1,875 | €2,369 | +€493 | +26.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €31,658 | €47,604 | +€15,946 | +50.4% |
| Operating profit (loss) | 9901 | €29,783 | €34,145 | +€4,362 | +14.6% |
| Financial income | 75/76B | €20,886 | €21,416 | +€530 | +2.5% |
| Recurring financial income | 75 | €20,886 | €21,416 | +€530 | +2.5% |
| Financial charges | 65/66B | €47,113 | €51,454 | +€4,340 | +9.2% |
| Recurring financial charges | 65 | €47,113 | €51,454 | +€4,340 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €3,555 | €4,107 | +€552 | +15.5% |
| Income taxes | 67/77 | €686 | €545 | -€141 | -20.5% |
| Profit (loss) for the period | 9904 | €2,869 | €3,561 | +€693 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,869 | €3,561 | +€693 | +24.1% |
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.