TEAM 8 & 11: 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.
TEAM 8 & 11
Largest movements
- Receivables within one year +€27,846
up €27,846 (+287.9%), from €9,674 to €37,520
of which Trade receivables: +€31,097
- Stocks and contracts -€22,221
down €22,221 (-12.8%), from €173,588 to €151,367
- Cash -€7,539
down €7,539 (-70.8%), from €10,653 to €3,114
mainly Receivables within one year (-€27,846) and Investment in fixed assets (net) (-€9,657)
- Tangible fixed assets +€6,665
up €6,665 (+153.0%), from €4,356 to €11,021
of which Furniture and vehicles: +€4,133
- Reserves +€15,279
up €15,279 (+20.4%), from €74,994 to €90,273
of which Distributable reserves: +€15,279
- Tax, wage and social debts -€7,538
down €7,538 (-30.9%), from €24,366 to €16,828
- Other debts -€2,760
down €2,760 (-34.4%), from €8,026 to €5,267
- Advances received +€2,479
new in 2025: €2,479
- Current portion of long-term debt -€2,066
down €2,066 (-3.9%), from €52,484 to €50,418
- Gross operating margin -€5,347
down €5,347 (-14.6%), from €36,525 to €31,177
- Taxes -€1,716
down €1,716 (-23.1%), from €7,414 to €5,699
- Financial charges +€454
up €454 (+12.0%), from €3,788 to €4,242
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 | €200,631 | €205,383 | +€4,752 | +2.4% |
| Fixed assets | 21/28 | €6,056 | €12,721 | +€6,665 | +110.1% |
| Tangible fixed assets | 22/27 | €4,356 | €11,021 | +€6,665 | +153.0% |
| Plant, machinery and equipment | 23 | €2,202 | €1,247 | -€955 | -43.4% |
| Furniture and vehicles | 24 | - | €4,133 | +€4,133 | |
| Other tangible fixed assets | 26 | €2,154 | €5,641 | +€3,487 | +161.9% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €194,575 | €192,662 | -€1,913 | -1.0% |
| Stocks and contracts in progress | 3 | €173,588 | €151,367 | -€22,221 | -12.8% |
| Stocks | 30/36 | €173,588 | €151,367 | -€22,221 | -12.8% |
| Amounts receivable within one year | 40/41 | €9,674 | €37,520 | +€27,846 | +287.9% |
| Trade receivables | 40 | €6,422 | €37,520 | +€31,097 | +484.2% |
| Other amounts receivable | 41 | €3,252 | - | -€3,252 | |
| Cash at bank and in hand | 54/58 | €10,653 | €3,114 | -€7,539 | -70.8% |
| Deferred charges and accrued income | 490/1 | €661 | €662 | +€1 | +0.2% |
| Total equity and liabilities | 10/49 | €200,631 | €205,383 | +€4,752 | +2.4% |
| Equity | 10/15 | €91,994 | €107,273 | +€15,279 | +16.6% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €74,994 | €90,273 | +€15,279 | +20.4% |
| Non-distributable reserves | 130/1 | €2,900 | €2,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,900 | €2,900 | = | 0.0% |
| Distributable reserves | 133 | €72,094 | €87,373 | +€15,279 | +21.2% |
| Amounts payable | 17/49 | €108,637 | €98,110 | -€10,527 | -9.7% |
| Amounts payable after more than one year | 17 | €418 | - | -€418 | |
| Financial debts | 170/4 | €418 | - | -€418 | |
| Amounts payable within one year | 42/48 | €108,219 | €98,110 | -€10,109 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €52,484 | €50,418 | -€2,066 | -3.9% |
| Trade debts | 44 | €23,342 | €23,117 | -€225 | -1.0% |
| Suppliers | 440/4 | €23,342 | €23,117 | -€225 | -1.0% |
| Advances received on contracts in progress | 46 | - | €2,479 | +€2,479 | |
| Taxes, remuneration and social security | 45 | €24,366 | €16,828 | -€7,538 | -30.9% |
| Taxes | 450/3 | €24,366 | €16,828 | -€7,538 | -30.9% |
| Other amounts payable | 47/48 | €8,026 | €5,267 | -€2,760 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,956 | €2,992 | +€36 | +1.2% |
| Other operating charges | 640/8 | €1,015 | €1,317 | +€302 | +29.7% |
| Gross operating margin | 9900 | €36,525 | €31,177 | -€5,347 | -14.6% |
| Operating profit (loss) | 9901 | €32,553 | €26,868 | -€5,685 | -17.5% |
| Financial income | 75/76B | €3,289 | €3,352 | +€62 | +1.9% |
| Recurring financial income | 75 | €3,289 | €3,352 | +€62 | +1.9% |
| Financial charges | 65/66B | €3,788 | €4,242 | +€454 | +12.0% |
| Recurring financial charges | 65 | €3,788 | €4,242 | +€454 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €32,055 | €25,978 | -€6,077 | -19.0% |
| Income taxes | 67/77 | €7,414 | €5,699 | -€1,716 | -23.1% |
| Profit (loss) for the period | 9904 | €24,640 | €20,279 | -€4,361 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,640 | €20,279 | -€4,361 | -17.7% |
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 12 October 2026 via checked.be.