't Appèl: 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.
't Appèl
Largest movements
- Tangible fixed assets +€60,822
up €60,822 (+73.0%), from €83,308 to €144,130
of which Other tangible fixed assets: +€50,124
- Cash -€10,517
down €10,517 (-30.8%), from €34,190 to €23,672
mainly Investment in fixed assets (net) (-€104,445) and Other debts (-€10,450)
- Deferred charges and accrued income +€2,261
up €2,261 (+89.3%), from €2,534 to €4,795
- Trade debts +€39,271
up €39,271 (+220%), from €17,824 to €57,095
- Reserves +€17,211
up €17,211 (+71.8%), from €23,987 to €41,198
- Other debts -€10,450
down €10,450 (-90.2%), from €11,588 to €1,138
- Tax, wage and social debts +€4,374
up €4,374 (+15.6%), from €28,112 to €32,486
of which Remuneration and social security: +€9,792
- Current portion of long-term debt -€3,338
down €3,338 (-17.1%), from €19,496 to €16,158
- Gross operating margin +€26,446
up €26,446 (+8.4%), from €315,247 to €341,693
- Staff costs +€23,938
up €23,938 (+9.9%), from €242,030 to €265,969
- Depreciation +€6,882
up €6,882 (+18.7%), from €36,741 to €43,623
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 | €156,335 | €205,793 | +€49,458 | +31.6% |
| Fixed assets | 21/28 | €83,808 | €144,630 | +€60,822 | +72.6% |
| Tangible fixed assets | 22/27 | €83,308 | €144,130 | +€60,822 | +73.0% |
| Plant, machinery and equipment | 23 | €21,625 | €40,048 | +€18,423 | +85.2% |
| Furniture and vehicles | 24 | €58,663 | €50,939 | -€7,725 | -13.2% |
| Other tangible fixed assets | 26 | €3,020 | €53,143 | +€50,124 | +1,660% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €72,527 | €61,163 | -€11,364 | -15.7% |
| Stocks and contracts in progress | 3 | €9,839 | €8,707 | -€1,132 | -11.5% |
| Stocks | 30/36 | €9,839 | €8,707 | -€1,132 | -11.5% |
| Amounts receivable within one year | 40/41 | €25,965 | €23,989 | -€1,976 | -7.6% |
| Trade receivables | 40 | €2,105 | €154 | -€1,951 | -92.7% |
| Other amounts receivable | 41 | €23,859 | €23,834 | -€25 | -0.1% |
| Cash at bank and in hand | 54/58 | €34,190 | €23,672 | -€10,517 | -30.8% |
| Deferred charges and accrued income | 490/1 | €2,534 | €4,795 | +€2,261 | +89.3% |
| Total equity and liabilities | 10/49 | €156,335 | €205,793 | +€49,458 | +31.6% |
| Equity | 10/15 | €58,987 | €76,198 | +€17,211 | +29.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Contributions outside capital | 11 | €35,000 | €35,000 | = | 0.0% |
| Other | 1109/19 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €23,987 | €41,198 | +€17,211 | +71.8% |
| Distributable reserves | 133 | €23,987 | €41,198 | +€17,211 | +71.8% |
| Amounts payable | 17/49 | €97,348 | €129,595 | +€32,247 | +33.1% |
| Amounts payable after more than one year | 17 | €19,749 | €20,615 | +€866 | +4.4% |
| Financial debts | 170/4 | €19,749 | €20,615 | +€866 | +4.4% |
| Amounts payable within one year | 42/48 | €77,020 | €108,544 | +€31,524 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €19,496 | €16,158 | -€3,338 | -17.1% |
| Financial debts | 43 | - | €1,667 | +€1,667 | |
| Credit institutions | 430/8 | - | €1,667 | +€1,667 | |
| Trade debts | 44 | €17,824 | €57,095 | +€39,271 | +220% |
| Suppliers | 440/4 | €17,824 | €57,095 | +€39,271 | +220% |
| Taxes, remuneration and social security | 45 | €28,112 | €32,486 | +€4,374 | +15.6% |
| Taxes | 450/3 | €16,700 | €11,282 | -€5,418 | -32.4% |
| Remuneration and social security | 454/9 | €11,412 | €21,204 | +€9,792 | +85.8% |
| Other amounts payable | 47/48 | €11,588 | €1,138 | -€10,450 | -90.2% |
| Accrued charges and deferred income | 492/3 | €578 | €436 | -€142 | -24.6% |
| Remuneration, social security and pensions | 62 | €242,030 | €265,969 | +€23,938 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,741 | €43,623 | +€6,882 | +18.7% |
| Other operating charges | 640/8 | €4,726 | €4,139 | -€587 | -12.4% |
| Non-recurring operating charges | 66A | - | €411 | +€411 | |
| Gross operating margin | 9900 | €315,247 | €341,693 | +€26,446 | +8.4% |
| Operating profit (loss) | 9901 | €31,749 | €27,552 | -€4,198 | -13.2% |
| Financial income | 75/76B | €1,619 | €99 | -€1,520 | -93.9% |
| Recurring financial income | 75 | €1,619 | €99 | -€1,520 | -93.9% |
| Financial charges | 65/66B | €5,120 | €5,651 | +€530 | +10.4% |
| Recurring financial charges | 65 | €5,120 | €5,651 | +€530 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €28,248 | €22,000 | -€6,248 | -22.1% |
| Income taxes | 67/77 | €6,303 | €4,789 | -€1,513 | -24.0% |
| Profit (loss) for the period | 9904 | €21,946 | €17,211 | -€4,735 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,946 | €17,211 | -€4,735 | -21.6% |
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 17 October 2026 via checked.be.