Settle: 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.
Settle
Largest movements
- Stocks and contracts -€11,689
down €11,689 (-2.0%), from €572,097 to €560,408
- Receivables within one year -€9,658
down €9,658 (-27.2%), from €35,449 to €25,791
of which Trade receivables: -€9,220
- Cash -€8,977
down €8,977 (-68.2%), from €13,170 to €4,193
mainly Other debts (-€25,298) and Net result for the year (-€17,790)
- Other debts -€25,298
down €25,298 (-5.0%), from €506,591 to €481,293
- Profit (loss) carried forward -€17,790
down €17,790 (-65.0%), from €27,379 to €9,589
- Tax, wage and social debts +€8,976
new in 2025: €8,976
- Gross operating margin -€157,858
down €157,858 (-95.5%), from €165,278 to €7,420
- Financial charges -€20,528
down €20,528 (-48.0%), from €42,765 to €22,238
- Write-downs -€13,600
down €13,600 (-90.1%), from €15,100 to €1,500
- Other operating charges -€1,775
down €1,775 (-54.7%), from €3,248 to €1,473
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 | €621,704 | €591,136 | -€30,569 | -4.9% |
| Current assets | 29/58 | €621,704 | €591,136 | -€30,569 | -4.9% |
| Stocks and contracts in progress | 3 | €572,097 | €560,408 | -€11,689 | -2.0% |
| Stocks | 30/36 | €572,097 | €560,408 | -€11,689 | -2.0% |
| Amounts receivable within one year | 40/41 | €35,449 | €25,791 | -€9,658 | -27.2% |
| Trade receivables | 40 | €34,961 | €25,740 | -€9,220 | -26.4% |
| Other amounts receivable | 41 | €488 | €50 | -€438 | -89.7% |
| Cash at bank and in hand | 54/58 | €13,170 | €4,193 | -€8,977 | -68.2% |
| Deferred charges and accrued income | 490/1 | €988 | €744 | -€244 | -24.7% |
| Total equity and liabilities | 10/49 | €621,704 | €591,136 | -€30,569 | -4.9% |
| Equity | 10/15 | €47,839 | €30,049 | -€17,790 | -37.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,379 | €9,589 | -€17,790 | -65.0% |
| Amounts payable | 17/49 | €573,865 | €561,087 | -€12,778 | -2.2% |
| Amounts payable within one year | 42/48 | €562,644 | €546,281 | -€16,363 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €56,053 | €56,012 | -€41 | -0.1% |
| Suppliers | 440/4 | €56,053 | €56,012 | -€41 | -0.1% |
| Taxes, remuneration and social security | 45 | - | €8,976 | +€8,976 | |
| Taxes | 450/3 | - | €8,976 | +€8,976 | |
| Other amounts payable | 47/48 | €506,591 | €481,293 | -€25,298 | -5.0% |
| Accrued charges and deferred income | 492/3 | €11,222 | €14,807 | +€3,585 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,100 | €1,500 | -€13,600 | -90.1% |
| Other operating charges | 640/8 | €3,248 | €1,473 | -€1,775 | -54.7% |
| Gross operating margin | 9900 | €165,278 | €7,420 | -€157,858 | -95.5% |
| Operating profit (loss) | 9901 | €146,930 | €4,447 | -€142,483 | -97.0% |
| Financial charges | 65/66B | €42,765 | €22,238 | -€20,528 | -48.0% |
| Recurring financial charges | 65 | €42,765 | €22,238 | -€20,528 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €104,165 | -€17,790 | -€121,955 | |
| Profit (loss) for the period | 9904 | €104,165 | -€17,790 | -€121,955 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,165 | -€17,790 | -€121,955 |
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 12 October 2026 via checked.be.