Stephanie Grubb: 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.
Stephanie Grubb
Largest movements
- Cash +€39,625
up €39,625 (+79.3%), from €49,999 to €89,624
mainly Net result for the year (+€56,408) and Depreciation (+€474)
- Deferred charges and accrued income +€4,086
up €4,086 (+82.2%), from €4,974 to €9,060
- Tangible fixed assets +€2,841
up €2,841 (+1422.2%), from €200 to €3,041
of which Plant, machinery and equipment: +€3,041
- Profit (loss) carried forward +€55,549
up €55,549 (+54.9%), from €101,257 to €156,806
- Tax, wage and social debts -€8,294
down €8,294 (-48.5%), from €17,108 to €8,815
of which Taxes: -€7,948
- Gross operating margin +€3,562
up €3,562 (+5.3%), from €67,083 to €70,644
- Financial income +€1,795
up €1,795 (+75.6%), from €2,372 to €4,167
- Financial charges +€1,389
up €1,389 (+201.4%), from €689 to €2,078
- Other operating charges +€889
up €889 (+252.4%), from €352 to €1,241
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 | €136,968 | €183,743 | +€46,775 | +34.2% |
| Fixed assets | 21/28 | €200 | €3,041 | +€2,841 | +1422.2% |
| Tangible fixed assets | 22/27 | €200 | €3,041 | +€2,841 | +1422.2% |
| Plant, machinery and equipment | 23 | - | €3,041 | +€3,041 | |
| Furniture and vehicles | 24 | €200 | €0 | -€200 | -100.0% |
| Current assets | 29/58 | €136,768 | €180,702 | +€43,934 | +32.1% |
| Amounts receivable within one year | 40/41 | €81,795 | €82,018 | +€223 | +0.3% |
| Trade receivables | 40 | €16,795 | €16,949 | +€154 | +0.9% |
| Other amounts receivable | 41 | €65,000 | €65,069 | +€69 | +0.1% |
| Cash at bank and in hand | 54/58 | €49,999 | €89,624 | +€39,625 | +79.3% |
| Deferred charges and accrued income | 490/1 | €4,974 | €9,060 | +€4,086 | +82.2% |
| Total equity and liabilities | 10/49 | €136,968 | €183,743 | +€46,775 | +34.2% |
| Equity | 10/15 | €116,257 | €171,806 | +€55,549 | +47.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,257 | €156,806 | +€55,549 | +54.9% |
| Amounts payable | 17/49 | €20,711 | €11,937 | -€8,774 | -42.4% |
| Amounts payable within one year | 42/48 | €20,711 | €11,937 | -€8,774 | -42.4% |
| Trade debts | 44 | €2,769 | €2,263 | -€507 | -18.3% |
| Suppliers | 440/4 | €2,769 | €2,263 | -€507 | -18.3% |
| Taxes, remuneration and social security | 45 | €17,108 | €8,815 | -€8,294 | -48.5% |
| Taxes | 450/3 | €16,763 | €8,815 | -€7,948 | -47.4% |
| Remuneration and social security | 454/9 | €345 | €0 | -€345 | -100.0% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206 | €474 | +€268 | +129.8% |
| Other operating charges | 640/8 | €352 | €1,241 | +€889 | +252.4% |
| Gross operating margin | 9900 | €67,083 | €70,644 | +€3,562 | +5.3% |
| Operating profit (loss) | 9901 | €66,524 | €68,929 | +€2,405 | +3.6% |
| Financial income | 75/76B | €2,372 | €4,167 | +€1,795 | +75.6% |
| Recurring financial income | 75 | €2,372 | €4,167 | +€1,795 | +75.6% |
| Financial charges | 65/66B | €689 | €2,078 | +€1,389 | +201.4% |
| Recurring financial charges | 65 | €689 | €2,078 | +€1,389 | +201.4% |
| Profit (loss) for the period before taxes | 9903 | €68,207 | €71,018 | +€2,811 | +4.1% |
| Income taxes | 67/77 | €14,503 | €14,610 | +€107 | +0.7% |
| Profit (loss) for the period | 9904 | €53,704 | €56,408 | +€2,704 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,704 | €56,408 | +€2,704 | +5.0% |
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 11 October 2026 via checked.be.