SEPT03: 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.
SEPT03
Largest movements
- Tangible fixed assets -€61,433
down €61,433 (-7.3%), from €839,688 to €778,255
of which Land and buildings: -€58,007
- Cash -€16,038
down €16,038 (-65.8%), from €24,364 to €8,326
mainly Debts after one year (-€66,534) and Investment in fixed assets (net) (-€18,707)
- Receivables within one year +€15,280
up €15,280 (+332.6%), from €4,594 to €19,873
of which Trade receivables: +€15,384
- Debts after one year -€66,534
down €66,534 (-14.6%), from €455,206 to €388,672
- Other debts +€25,555
up €25,555 (+62.7%), from €40,777 to €66,332
- Profit (loss) carried forward -€17,718
down €17,718 (-8.1%), from -€219,950 to -€237,668
- Tax, wage and social debts -€11,548
down €11,548 (-44.3%), from €26,089 to €14,541
of which Taxes: -€13,832
- Taxes +€13,664
up €13,664 (+10051.7%), from €136 to €13,800
- Other operating charges -€11,610
down €11,610 (-72.0%), from €16,122 to €4,512
- Depreciation +€8,604
up €8,604 (+12.0%), from €71,537 to €80,140
- Gross operating margin -€5,968
down €5,968 (-5.7%), from €104,905 to €98,937
- Financial charges +€1,305
up €1,305 (+7.7%), from €16,898 to €18,202
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 | €869,734 | €807,594 | -€62,140 | -7.1% |
| Fixed assets | 21/28 | €839,688 | €778,255 | -€61,433 | -7.3% |
| Tangible fixed assets | 22/27 | €839,688 | €778,255 | -€61,433 | -7.3% |
| Land and buildings | 22 | €827,510 | €769,503 | -€58,007 | -7.0% |
| Plant, machinery and equipment | 23 | €4,585 | €2,188 | -€2,397 | -52.3% |
| Furniture and vehicles | 24 | €7,593 | €6,564 | -€1,029 | -13.6% |
| Current assets | 29/58 | €30,046 | €29,339 | -€707 | -2.4% |
| Amounts receivable within one year | 40/41 | €4,594 | €19,873 | +€15,280 | +332.6% |
| Trade receivables | 40 | €4,482 | €19,867 | +€15,384 | +343.2% |
| Other amounts receivable | 41 | €111 | €7 | -€105 | -93.8% |
| Cash at bank and in hand | 54/58 | €24,364 | €8,326 | -€16,038 | -65.8% |
| Deferred charges and accrued income | 490/1 | €1,088 | €1,139 | +€51 | +4.7% |
| Total equity and liabilities | 10/49 | €869,734 | €807,594 | -€62,140 | -7.1% |
| Equity | 10/15 | €248,650 | €230,932 | -€17,718 | -7.1% |
| Contributions | 10/11 | €468,600 | €468,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€219,950 | -€237,668 | -€17,718 | -8.1% |
| Amounts payable | 17/49 | €621,083 | €576,661 | -€44,422 | -7.2% |
| Amounts payable after more than one year | 17 | €455,206 | €388,672 | -€66,534 | -14.6% |
| Financial debts | 170/4 | €455,206 | €388,672 | -€66,534 | -14.6% |
| Amounts payable within one year | 42/48 | €148,890 | €162,650 | +€13,761 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €64,317 | €66,534 | +€2,218 | +3.4% |
| Financial debts | 43 | €4,325 | €220 | -€4,104 | -94.9% |
| Credit institutions | 430/8 | €4,325 | €220 | -€4,104 | -94.9% |
| Trade debts | 44 | €13,382 | €15,022 | +€1,640 | +12.3% |
| Suppliers | 440/4 | €13,382 | €15,022 | +€1,640 | +12.3% |
| Taxes, remuneration and social security | 45 | €26,089 | €14,541 | -€11,548 | -44.3% |
| Taxes | 450/3 | €26,089 | €12,257 | -€13,832 | -53.0% |
| Remuneration and social security | 454/9 | - | €2,284 | +€2,284 | |
| Other amounts payable | 47/48 | €40,777 | €66,332 | +€25,555 | +62.7% |
| Accrued charges and deferred income | 492/3 | €16,988 | €25,339 | +€8,352 | +49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,537 | €80,140 | +€8,604 | +12.0% |
| Other operating charges | 640/8 | €16,122 | €4,512 | -€11,610 | -72.0% |
| Gross operating margin | 9900 | €104,905 | €98,937 | -€5,968 | -5.7% |
| Operating profit (loss) | 9901 | €17,246 | €14,285 | -€2,962 | -17.2% |
| Financial income | 75/76B | €33 | €0 | -€33 | -100.0% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -100.0% |
| Financial charges | 65/66B | €16,898 | €18,202 | +€1,305 | +7.7% |
| Recurring financial charges | 65 | €16,898 | €18,202 | +€1,305 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €382 | -€3,918 | -€4,299 | |
| Income taxes | 67/77 | €136 | €13,800 | +€13,664 | +10051.7% |
| Profit (loss) for the period | 9904 | €246 | -€17,718 | -€17,964 | |
| Profit (loss) for the period to be appropriated | 9905 | €246 | -€17,718 | -€17,964 |
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 3 October 2026 via checked.be.