TENDENS: 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.
TENDENS
Largest movements
- Cash +€35,249
up €35,249 (+45.8%), from €76,972 to €112,220
mainly Tax, wage and social debts (+€40,812) and Current portion of long-term debt (+€30,287)
- Tangible fixed assets -€16,918
down €16,918 (-44.8%), from €37,769 to €20,851
- Deferred charges and accrued income +€5,222
new in 2025: €5,222
- Stocks and contracts -€4,348
down €4,348 (-4.5%), from €97,067 to €92,719
- Tax, wage and social debts +€40,812
up €40,812 (+225%), from €18,144 to €58,956
of which Taxes: +€42,298
- Debts after one year -€34,517
down €34,517 (-83.8%), from €41,167 to €6,650
- Current portion of long-term debt +€30,287
up €30,287 (+102%), from €29,760 to €60,047
- Accrued charges and deferred income -€15,501
down €15,501 (-89.3%), from €17,361 to €1,860
- Other debts -€6,971
down €6,971 (-41.4%), from €16,851 to €9,880
- Gross operating margin -€11,805
down €11,805 (-9.7%), from €121,675 to €109,870
- Depreciation -€11,506
down €11,506 (-36.7%), from €31,324 to €19,818
- Other operating charges -€6,710
down €6,710 (-50.8%), from €13,208 to €6,498
- Staff costs +€3,212
up €3,212 (+4.5%), from €71,793 to €75,005
- Financial charges -€2,391
down €2,391 (-53.7%), from €4,452 to €2,061
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 | €353,418 | €370,702 | +€17,285 | +4.9% |
| Fixed assets | 21/28 | €39,514 | €22,597 | -€16,918 | -42.8% |
| Tangible fixed assets | 22/27 | €37,769 | €20,851 | -€16,918 | -44.8% |
| Land and buildings | 22 | €5,147 | €2,034 | -€3,113 | -60.5% |
| Plant, machinery and equipment | 23 | €261 | €261 | = | 0.0% |
| Furniture and vehicles | 24 | €13,006 | €7,183 | -€5,823 | -44.8% |
| Leasing and similar rights | 25 | €19,355 | €11,372 | -€7,983 | -41.2% |
| Financial fixed assets | 28 | €1,745 | €1,745 | = | 0.0% |
| Current assets | 29/58 | €313,903 | €348,106 | +€34,202 | +10.9% |
| Stocks and contracts in progress | 3 | €97,067 | €92,719 | -€4,348 | -4.5% |
| Stocks | 30/36 | €97,067 | €92,719 | -€4,348 | -4.5% |
| Amounts receivable within one year | 40/41 | €139,865 | €137,945 | -€1,920 | -1.4% |
| Trade receivables | 40 | €64,723 | €42,437 | -€22,286 | -34.4% |
| Other amounts receivable | 41 | €75,142 | €95,508 | +€20,366 | +27.1% |
| Cash at bank and in hand | 54/58 | €76,972 | €112,220 | +€35,249 | +45.8% |
| Deferred charges and accrued income | 490/1 | - | €5,222 | +€5,222 | |
| Total equity and liabilities | 10/49 | €353,418 | €370,702 | +€17,285 | +4.9% |
| Equity | 10/15 | €230,135 | €233,309 | +€3,174 | +1.4% |
| Contributions | 10/11 | €168,960 | €168,960 | = | 0.0% |
| Reserves | 13 | €77,024 | €77,024 | = | 0.0% |
| Distributable reserves | 133 | €77,024 | €77,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,849 | -€12,674 | +€3,174 | +20.0% |
| Amounts payable | 17/49 | €123,283 | €137,393 | +€14,111 | +11.4% |
| Amounts payable after more than one year | 17 | €41,167 | €6,650 | -€34,517 | -83.8% |
| Financial debts | 170/4 | €41,167 | €6,650 | -€34,517 | -83.8% |
| Amounts payable within one year | 42/48 | €64,755 | €128,883 | +€64,128 | +99.0% |
| Current portion of amounts payable after more than one year | 42 | €29,760 | €60,047 | +€30,287 | +102% |
| Taxes, remuneration and social security | 45 | €18,144 | €58,956 | +€40,812 | +225% |
| Taxes | 450/3 | €1,413 | €43,710 | +€42,298 | +2,994% |
| Remuneration and social security | 454/9 | €16,731 | €15,246 | -€1,486 | -8.9% |
| Other amounts payable | 47/48 | €16,851 | €9,880 | -€6,971 | -41.4% |
| Accrued charges and deferred income | 492/3 | €17,361 | €1,860 | -€15,501 | -89.3% |
| Remuneration, social security and pensions | 62 | €71,793 | €75,005 | +€3,212 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,324 | €19,818 | -€11,506 | -36.7% |
| Other operating charges | 640/8 | €13,208 | €6,498 | -€6,710 | -50.8% |
| Non-recurring operating charges | 66A | - | €915 | +€915 | |
| Gross operating margin | 9900 | €121,675 | €109,870 | -€11,805 | -9.7% |
| Operating profit (loss) | 9901 | €5,350 | €7,634 | +€2,284 | +42.7% |
| Financial income | 75/76B | €0 | €1,026 | +€1,025 | +320,463% |
| Recurring financial income | 75 | €0 | €1,026 | +€1,025 | +320,463% |
| Financial charges | 65/66B | €4,452 | €2,061 | -€2,391 | -53.7% |
| Recurring financial charges | 65 | €4,452 | €2,061 | -€2,391 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €898 | €6,599 | +€5,700 | +634% |
| Income taxes | 67/77 | €1,284 | €3,425 | +€2,141 | +167% |
| Profit (loss) for the period | 9904 | -€385 | €3,174 | +€3,559 | |
| Profit (loss) for the period to be appropriated | 9905 | -€385 | €3,174 | +€3,559 |
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 15 October 2026 via checked.be.