STEVEN BEIRINCKX: 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.
STEVEN BEIRINCKX
Largest movements
- Receivables within one year -€67,362
down €67,362 (-50.4%), from €133,529 to €66,167
of which Trade receivables: -€68,061
- Cash -€55,490
down €55,490 (-24.0%), from €231,074 to €175,584
mainly Contributions, distributions and other (-€150,000) and Other debts (-€131,969)
- Tangible fixed assets -€24,860
down €24,860 (-32.8%), from €75,699 to €50,839
of which Furniture and vehicles: -€22,928
- Other debts -€131,969
down €131,969 (-45.2%), from €292,275 to €160,306
- Reserves -€16,129
down €16,129 (-14.7%), from €109,845 to €93,716
- Gross operating margin -€143,349
down €143,349 (-40.9%), from €350,526 to €207,177
- Taxes -€36,071
down €36,071 (-43.9%), from €82,258 to €46,187
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 | €441,585 | €293,965 | -€147,620 | -33.4% |
| Fixed assets | 21/28 | €75,700 | €50,840 | -€24,860 | -32.8% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €75,699 | €50,839 | -€24,860 | -32.8% |
| Plant, machinery and equipment | 23 | €1,122 | €832 | -€290 | -25.8% |
| Furniture and vehicles | 24 | €71,772 | €48,844 | -€22,928 | -31.9% |
| Other tangible fixed assets | 26 | €2,805 | €1,163 | -€1,642 | -58.5% |
| Current assets | 29/58 | €365,885 | €243,125 | -€122,760 | -33.6% |
| Amounts receivable within one year | 40/41 | €133,529 | €66,167 | -€67,362 | -50.4% |
| Trade receivables | 40 | €125,414 | €57,354 | -€68,061 | -54.3% |
| Other amounts receivable | 41 | €8,115 | €8,813 | +€698 | +8.6% |
| Cash at bank and in hand | 54/58 | €231,074 | €175,584 | -€55,490 | -24.0% |
| Deferred charges and accrued income | 490/1 | €1,282 | €1,374 | +€93 | +7.2% |
| Total equity and liabilities | 10/49 | €441,585 | €293,965 | -€147,620 | -33.4% |
| Equity | 10/15 | €128,445 | €112,316 | -€16,129 | -12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,845 | €93,716 | -€16,129 | -14.7% |
| Distributable reserves | 133 | €109,845 | €93,716 | -€16,129 | -14.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €313,141 | €181,650 | -€131,491 | -42.0% |
| Amounts payable within one year | 42/48 | €310,587 | €179,594 | -€130,993 | -42.2% |
| Trade debts | 44 | €5,787 | €6,661 | +€874 | +15.1% |
| Suppliers | 440/4 | €5,787 | €6,661 | +€874 | +15.1% |
| Taxes, remuneration and social security | 45 | €12,525 | €12,628 | +€103 | +0.8% |
| Taxes | 450/3 | €12,525 | €12,628 | +€103 | +0.8% |
| Other amounts payable | 47/48 | €292,275 | €160,306 | -€131,969 | -45.2% |
| Accrued charges and deferred income | 492/3 | €2,554 | €2,055 | -€499 | -19.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,531 | €25,353 | -€178 | -0.7% |
| Other operating charges | 640/8 | €573 | €817 | +€244 | +42.6% |
| Gross operating margin | 9900 | €350,526 | €207,177 | -€143,349 | -40.9% |
| Operating profit (loss) | 9901 | €324,422 | €181,008 | -€143,414 | -44.2% |
| Financial income | 75/76B | €1,243 | €0 | -€1,243 | -100% |
| Recurring financial income | 75 | €1,243 | €0 | -€1,243 | -100% |
| Financial charges | 65/66B | €1,207 | €949 | -€257 | -21.3% |
| Recurring financial charges | 65 | €1,207 | €949 | -€257 | -21.3% |
| Profit (loss) for the period before taxes | 9903 | €324,458 | €180,058 | -€144,400 | -44.5% |
| Income taxes | 67/77 | €82,258 | €46,187 | -€36,071 | -43.9% |
| Profit (loss) for the period | 9904 | €242,200 | €133,871 | -€108,329 | -44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €242,200 | €133,871 | -€108,329 | -44.7% |
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 23 October 2026 via checked.be.