SEQUENCE: 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.
SEQUENCE
Largest movements
- Receivables after one year +€1.0m
up €1.0m (+200%), from €500,000 to €1.5m
- Receivables within one year -€910,323
down €910,323 (-44.1%), from €2.1m to €1.2m
of which Other amounts receivable: -€900,287
- Cash -€471,070
down €471,070 (-63.0%), from €747,245 to €276,175
mainly Receivables after one year (-€1.0m) and Debts after one year (-€550,000)
- Current investments +€278,263
up €278,263 (+93.1%), from €298,928 to €577,190
- Financial fixed assets +€251,912
up €251,912 (+1.9%), from €13.4m to €13.7m
- Debts after one year -€550,000
down €550,000 (-22.9%), from €2.4m to €1.9m
of which Financial debts: -€550,000
- Other debts +€313,397
new in 2024: €313,397
- Gross operating margin +€141,832
up €141,832 (+127%), from €111,283 to €253,115
- Write-downs -€82,230
no longer reported in 2024 (was €82,230)
- Taxes +€26,564
up €26,564 (+245%), from €10,833 to €37,397
- Financial income -€22,254
down €22,254 (-33.5%), from €66,504 to €44,250
- Financial charges +€17,147
up €17,147 (+64.0%), from €26,812 to €43,959
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,815,459 | €17,923,240 | +€107,781 | +0.6% |
| Fixed assets | 21/28 | €13,571,407 | €13,780,318 | +€208,912 | +1.5% |
| Tangible fixed assets | 22/27 | €155,925 | €112,925 | -€43,000 | -27.6% |
| Land and buildings | 22 | €107,473 | €106,525 | -€949 | -0.9% |
| Furniture and vehicles | 24 | €42,051 | €0 | -€42,051 | -100.0% |
| Other tangible fixed assets | 26 | €6,400 | €6,400 | = | 0.0% |
| Financial fixed assets | 28 | €13,415,482 | €13,667,394 | +€251,912 | +1.9% |
| Current assets | 29/58 | €4,244,052 | €4,142,922 | -€101,130 | -2.4% |
| Amounts receivable after more than one year | 29 | €500,000 | €1,500,000 | +€1.0m | +200% |
| Other amounts receivable | 291 | €500,000 | €1,500,000 | +€1.0m | +200% |
| Stocks and contracts in progress | 3 | €630,000 | €630,000 | = | 0.0% |
| Stocks | 30/36 | €630,000 | €630,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,065,522 | €1,155,200 | -€910,323 | -44.1% |
| Trade receivables | 40 | €81,522 | €71,486 | -€10,036 | -12.3% |
| Other amounts receivable | 41 | €1,984,001 | €1,083,714 | -€900,287 | -45.4% |
| Current investments | 50/53 | €298,928 | €577,190 | +€278,263 | +93.1% |
| Cash at bank and in hand | 54/58 | €747,245 | €276,175 | -€471,070 | -63.0% |
| Deferred charges and accrued income | 490/1 | €2,357 | €4,357 | +€2,000 | +84.8% |
| Total equity and liabilities | 10/49 | €17,815,459 | €17,923,240 | +€107,781 | +0.6% |
| Equity | 10/15 | €15,232,875 | €15,414,099 | +€181,225 | +1.2% |
| Contributions | 10/11 | €49,978 | €49,978 | = | 0.0% |
| Reserves | 13 | €23,748 | €116,368 | +€92,620 | +390% |
| Non-distributable reserves | 130/1 | €4,998 | - | -€4,998 | |
| Reserves not available under the articles | 1311 | €4,998 | - | -€4,998 | |
| Tax-exempt reserves | 132 | €18,750 | €111,370 | +€92,620 | +494% |
| Distributable reserves | 133 | - | €4,998 | +€4,998 | |
| Profit (loss) carried forward | 14 | €15,159,149 | €15,247,754 | +€88,605 | +0.6% |
| Amounts payable | 17/49 | €2,582,584 | €2,509,141 | -€73,443 | -2.8% |
| Amounts payable after more than one year | 17 | €2,400,000 | €1,850,000 | -€550,000 | -22.9% |
| Financial debts | 170/4 | €550,000 | - | -€550,000 | |
| Other amounts payable | 178/9 | €1,850,000 | €1,850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,011 | €532,328 | +€352,317 | +196% |
| Trade debts | 44 | €160,744 | €186,571 | +€25,827 | +16.1% |
| Suppliers | 440/4 | €160,744 | €186,571 | +€25,827 | +16.1% |
| Taxes, remuneration and social security | 45 | €19,268 | €32,361 | +€13,093 | +68.0% |
| Taxes | 450/3 | €19,268 | €32,361 | +€13,093 | +68.0% |
| Other amounts payable | 47/48 | - | €313,397 | +€313,397 | |
| Accrued charges and deferred income | 492/3 | €2,573 | €126,813 | +€124,239 | +4,828% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,365 | €17,885 | -€2,480 | -12.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €82,230 | - | -€82,230 | |
| Other operating charges | 640/8 | €3,805 | €16,899 | +€13,094 | +344% |
| Gross operating margin | 9900 | €111,283 | €253,115 | +€141,832 | +127% |
| Operating profit (loss) | 9901 | €4,883 | €218,331 | +€213,448 | +4,371% |
| Financial income | 75/76B | €66,504 | €44,250 | -€22,254 | -33.5% |
| Recurring financial income | 75 | €66,504 | €44,250 | -€22,254 | -33.5% |
| Financial charges | 65/66B | €26,812 | €43,959 | +€17,147 | +64.0% |
| Recurring financial charges | 65 | €26,812 | €43,959 | +€17,147 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | €44,575 | €218,622 | +€174,046 | +390% |
| Income taxes | 67/77 | €10,833 | €37,397 | +€26,564 | +245% |
| Profit (loss) for the period | 9904 | €33,742 | €181,225 | +€147,483 | +437% |
| Transfer to tax-exempt reserves | 689 | - | €92,620 | +€92,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,742 | €88,605 | +€54,863 | +163% |
Source: filed annual accounts (NBB), financial years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.