The Atelier: 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.
The Atelier
Largest movements
- Receivables within one year +€35,789
up €35,789 (+35.3%), from €101,389 to €137,177
of which Trade receivables: +€37,784
- Tangible fixed assets -€14,949
down €14,949 (-9.1%), from €164,139 to €149,190
of which Land and buildings: -€12,748
- Cash -€14,769
down €14,769 (-55.5%), from €26,591 to €11,822
mainly Receivables within one year (-€35,789) and Debts after one year (-€10,519)
- Reserves +€24,481
up €24,481 (+86.6%), from €28,282 to €52,763
of which Distributable reserves: +€24,481
- Debts after one year -€10,519
down €10,519 (-8.6%), from €122,735 to €112,216
- Trade debts -€8,631
down €8,631 (-35.1%), from €24,575 to €15,944
- Tax, wage and social debts +€4,043
up €4,043 (+34.3%), from €11,775 to €15,818
- Short-term financial debts -€3,369
down €3,369 (-40.3%), from €8,369 to €5,000
- Taxes +€4,581
up €4,581 (+70.8%), from €6,467 to €11,048
- Gross operating margin +€1,058
up €1,058 (+2.0%), from €53,162 to €54,220
- Financial charges -€581
down €581 (-16.8%), from €3,458 to €2,877
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 | €297,119 | €303,189 | +€6,070 | +2.0% |
| Fixed assets | 21/28 | €169,139 | €154,190 | -€14,949 | -8.8% |
| Tangible fixed assets | 22/27 | €164,139 | €149,190 | -€14,949 | -9.1% |
| Land and buildings | 22 | €156,155 | €143,407 | -€12,748 | -8.2% |
| Furniture and vehicles | 24 | €7,925 | €5,782 | -€2,143 | -27.0% |
| Other tangible fixed assets | 26 | €59 | €0 | -€59 | -100.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €127,980 | €149,000 | +€21,020 | +16.4% |
| Amounts receivable within one year | 40/41 | €101,389 | €137,177 | +€35,789 | +35.3% |
| Trade receivables | 40 | €97,855 | €135,640 | +€37,784 | +38.6% |
| Other amounts receivable | 41 | €3,533 | €1,537 | -€1,996 | -56.5% |
| Cash at bank and in hand | 54/58 | €26,591 | €11,822 | -€14,769 | -55.5% |
| Total equity and liabilities | 10/49 | €297,119 | €303,189 | +€6,070 | +2.0% |
| Equity | 10/15 | €119,212 | €143,692 | +€24,481 | +20.5% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €28,282 | €52,763 | +€24,481 | +86.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €28,282 | €52,763 | +€24,481 | +86.6% |
| Profit (loss) carried forward | 14 | €84,679 | €84,679 | = | 0.0% |
| Amounts payable | 17/49 | €177,908 | €159,497 | -€18,410 | -10.3% |
| Amounts payable after more than one year | 17 | €122,735 | €112,216 | -€10,519 | -8.6% |
| Financial debts | 170/4 | €122,735 | €112,216 | -€10,519 | -8.6% |
| Amounts payable within one year | 42/48 | €55,173 | €47,281 | -€7,892 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €10,317 | €10,519 | +€202 | +2.0% |
| Financial debts | 43 | €8,369 | €5,000 | -€3,369 | -40.3% |
| Credit institutions | 430/8 | €8,369 | €5,000 | -€3,369 | -40.3% |
| Trade debts | 44 | €24,575 | €15,944 | -€8,631 | -35.1% |
| Suppliers | 440/4 | €24,575 | €15,944 | -€8,631 | -35.1% |
| Taxes, remuneration and social security | 45 | €11,775 | €15,818 | +€4,043 | +34.3% |
| Taxes | 450/3 | €11,775 | €15,818 | +€4,043 | +34.3% |
| Other amounts payable | 47/48 | €136 | €0 | -€136 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,296 | €14,949 | -€347 | -2.3% |
| Other operating charges | 640/8 | €1,826 | €1,565 | -€261 | -14.3% |
| Gross operating margin | 9900 | €53,162 | €54,220 | +€1,058 | +2.0% |
| Operating profit (loss) | 9901 | €36,040 | €37,705 | +€1,665 | +4.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €3,458 | €2,877 | -€581 | -16.8% |
| Recurring financial charges | 65 | €3,458 | €2,877 | -€581 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €32,582 | €34,828 | +€2,246 | +6.9% |
| Income taxes | 67/77 | €6,467 | €11,048 | +€4,581 | +70.8% |
| Profit (loss) for the period | 9904 | €26,115 | €23,780 | -€2,335 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,115 | €23,780 | -€2,335 | -8.9% |
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 24 October 2026 via checked.be.