STRATEGY & FINANCE: 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.
STRATEGY & FINANCE
Largest movements
- Tangible fixed assets -€8,896
down €8,896 (-67.7%), from €13,143 to €4,247
- Receivables within one year +€1,284
up €1,284 (+31.8%), from €4,040 to €5,324
- Profit (loss) carried forward -€37,863
down €37,863 (-78.7%), from -€48,102 to -€85,965
- Other debts +€26,209
up €26,209 (+58.6%), from €44,720 to €70,929
- Trade debts +€3,975
up €3,975 (+5,275%), from €75 to €4,050
- Gross operating margin -€10,273
down €10,273 (-60.1%), from -€17,089 to -€27,362
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 | €18,564 | €10,903 | -€7,661 | -41.3% |
| Fixed assets | 21/28 | €13,143 | €4,247 | -€8,896 | -67.7% |
| Tangible fixed assets | 22/27 | €13,143 | €4,247 | -€8,896 | -67.7% |
| Furniture and vehicles | 24 | €13,143 | €4,247 | -€8,896 | -67.7% |
| Current assets | 29/58 | €5,421 | €6,656 | +€1,235 | +22.8% |
| Amounts receivable within one year | 40/41 | €4,040 | €5,324 | +€1,284 | +31.8% |
| Other amounts receivable | 41 | €4,040 | €5,324 | +€1,284 | +31.8% |
| Cash at bank and in hand | 54/58 | €640 | €479 | -€161 | -25.2% |
| Deferred charges and accrued income | 490/1 | €741 | €853 | +€112 | +15.1% |
| Total equity and liabilities | 10/49 | €18,564 | €10,903 | -€7,661 | -41.3% |
| Equity | 10/15 | -€26,498 | -€64,361 | -€37,863 | -143% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,004 | €3,004 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,144 | €1,144 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,102 | -€85,965 | -€37,863 | -78.7% |
| Amounts payable | 17/49 | €45,062 | €75,264 | +€30,202 | +67.0% |
| Amounts payable within one year | 42/48 | €45,062 | €75,264 | +€30,202 | +67.0% |
| Trade debts | 44 | €75 | €4,050 | +€3,975 | +5,275% |
| Suppliers | 440/4 | €75 | €4,050 | +€3,975 | +5,275% |
| Taxes, remuneration and social security | 45 | €267 | €285 | +€19 | +6.9% |
| Taxes | 450/3 | €267 | €285 | +€19 | +6.9% |
| Other amounts payable | 47/48 | €44,720 | €70,929 | +€26,209 | +58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,738 | €8,896 | +€158 | +1.8% |
| Other operating charges | 640/8 | €1,098 | €1,196 | +€98 | +8.9% |
| Gross operating margin | 9900 | -€17,089 | -€27,362 | -€10,273 | -60.1% |
| Operating profit (loss) | 9901 | -€26,925 | -€37,453 | -€10,529 | -39.1% |
| Financial charges | 65/66B | €158 | €125 | -€33 | -21.1% |
| Recurring financial charges | 65 | €158 | €125 | -€33 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€27,083 | -€37,578 | -€10,495 | -38.8% |
| Income taxes | 67/77 | €267 | €285 | +€19 | +6.9% |
| Profit (loss) for the period | 9904 | -€27,350 | -€37,863 | -€10,514 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,350 | -€37,863 | -€10,514 | -38.4% |
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 27 October 2026 via checked.be.