'T FENOMEEN: 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 FENOMEEN
Largest movements
- Tangible fixed assets -€53,609
down €53,609 (-17.2%), from €311,070 to €257,461
of which Leasing and similar rights: -€29,907
- Receivables within one year -€5,022
down €5,022 (-12.6%), from €39,926 to €34,904
of which Trade receivables: -€3,016
- Deferred charges and accrued income -€3,843
down €3,843 (-56.4%), from €6,819 to €2,976
- Debts after one year -€34,864
down €34,864 (-13.9%), from €250,299 to €215,435
- Profit (loss) carried forward -€27,417
down €27,417 (-319%), from -€8,608 to -€36,025
- Accrued charges and deferred income +€15,718
up €15,718, from €0 to €15,718
- Current portion of long-term debt -€12,518
down €12,518 (-30.5%), from €41,069 to €28,551
- Trade debts -€5,961
down €5,961 (-50.8%), from €11,746 to €5,784
- Financial charges +€27,610
up €27,610 (+346%), from €7,990 to €35,600
of which Non-recurring financial charges: +€19,300
- Depreciation -€7,628
down €7,628 (-16.2%), from €46,990 to €39,362
- Gross operating margin -€6,438
down €6,438 (-10.0%), from €64,373 to €57,936
- Staff costs -€3,516
down €3,516 (-40.0%), from €8,787 to €5,271
- Other operating charges -€2,073
down €2,073 (-23.8%), from €8,699 to €6,626
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 | €375,179 | €313,992 | -€61,187 | -16.3% |
| Fixed assets | 21/28 | €311,590 | €257,981 | -€53,609 | -17.2% |
| Tangible fixed assets | 22/27 | €311,070 | €257,461 | -€53,609 | -17.2% |
| Land and buildings | 22 | €260,912 | €239,687 | -€21,225 | -8.1% |
| Plant, machinery and equipment | 23 | €2,501 | €905 | -€1,596 | -63.8% |
| Furniture and vehicles | 24 | €2,364 | €1,483 | -€881 | -37.3% |
| Leasing and similar rights | 25 | €45,292 | €15,386 | -€29,907 | -66.0% |
| Financial fixed assets | 28 | €520 | €520 | = | 0.0% |
| Current assets | 29/58 | €63,590 | €56,011 | -€7,579 | -11.9% |
| Stocks and contracts in progress | 3 | €2,625 | €3,135 | +€510 | +19.4% |
| Stocks | 30/36 | €2,625 | €3,135 | +€510 | +19.4% |
| Amounts receivable within one year | 40/41 | €39,926 | €34,904 | -€5,022 | -12.6% |
| Trade receivables | 40 | €3,888 | €872 | -€3,016 | -77.6% |
| Other amounts receivable | 41 | €36,038 | €34,032 | -€2,006 | -5.6% |
| Cash at bank and in hand | 54/58 | €14,219 | €14,995 | +€776 | +5.5% |
| Deferred charges and accrued income | 490/1 | €6,819 | €2,976 | -€3,843 | -56.4% |
| Total equity and liabilities | 10/49 | €375,179 | €313,992 | -€61,187 | -16.3% |
| Equity | 10/15 | €60,975 | €33,558 | -€27,417 | -45.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,982 | €50,982 | = | 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% |
| Distributable reserves | 133 | €49,122 | €49,122 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,608 | -€36,025 | -€27,417 | -319% |
| Amounts payable | 17/49 | €314,205 | €280,435 | -€33,770 | -10.7% |
| Amounts payable after more than one year | 17 | €250,299 | €215,435 | -€34,864 | -13.9% |
| Financial debts | 170/4 | €250,299 | €215,435 | -€34,864 | -13.9% |
| Amounts payable within one year | 42/48 | €63,906 | €49,282 | -€14,624 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €41,069 | €28,551 | -€12,518 | -30.5% |
| Trade debts | 44 | €11,746 | €5,784 | -€5,961 | -50.8% |
| Suppliers | 440/4 | €11,746 | €5,784 | -€5,961 | -50.8% |
| Taxes, remuneration and social security | 45 | €10,253 | €10,205 | -€49 | -0.5% |
| Taxes | 450/3 | €5,624 | €5,990 | +€367 | +6.5% |
| Remuneration and social security | 454/9 | €4,630 | €4,214 | -€415 | -9.0% |
| Other amounts payable | 47/48 | €837 | €4,742 | +€3,904 | +466% |
| Accrued charges and deferred income | 492/3 | €0 | €15,718 | +€15,718 | |
| Non-recurring operating income | 76A | - | €7,558 | +€7,558 | |
| Remuneration, social security and pensions | 62 | €8,787 | €5,271 | -€3,516 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,990 | €39,362 | -€7,628 | -16.2% |
| Other operating charges | 640/8 | €8,699 | €6,626 | -€2,073 | -23.8% |
| Gross operating margin | 9900 | €64,373 | €57,936 | -€6,438 | -10.0% |
| Operating profit (loss) | 9901 | -€102 | €6,677 | +€6,779 | |
| Financial income | 75/76B | €2,561 | €1,941 | -€620 | -24.2% |
| Recurring financial income | 75 | €2,561 | €1,941 | -€620 | -24.2% |
| Financial charges | 65/66B | €7,990 | €35,600 | +€27,610 | +346% |
| Recurring financial charges | 65 | €7,990 | €16,300 | +€8,310 | +104% |
| Non-recurring financial charges | 66B | - | €19,300 | +€19,300 | |
| Profit (loss) for the period before taxes | 9903 | -€5,531 | -€26,982 | -€21,451 | -388% |
| Income taxes | 67/77 | €267 | €435 | +€167 | +62.6% |
| Profit (loss) for the period | 9904 | -€5,798 | -€27,417 | -€21,619 | -373% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,798 | -€27,417 | -€21,619 | -373% |
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 29 October 2026 via checked.be.