The future is unwritten: what changed
The future is unwritten
Largest movements
- Financial fixed assets -€675,000
down €675,000 (-100%), from €675,000 to €0
- Receivables within one year +€394,919
up €394,919 (+2,176%), from €18,150 to €413,069
of which Other amounts receivable: +€392,804
- Cash +€148,630
up €148,630 (+1,737%), from €8,557 to €157,187
mainly Investment in fixed assets (net) (+€674,480) and Other debts (+€125,496)
- Profit (loss) carried forward -€255,774
down €255,774 (-43.1%), from €592,926 to €337,152
- Other debts +€125,496
up €125,496 (+1,049%), from €11,965 to €137,461
- Debts after one year -€21,234
down €21,234 (-62.7%), from €33,883 to €12,648
- Tax, wage and social debts +€19,893
up €19,893 (+164%), from €12,115 to €32,009
of which Taxes: +€19,893
- Financial income -€530,006
down €530,006 (-100%), from €530,006 to €0
- Financial charges +€103,756
up €103,756 (+504%), from €20,586 to €124,341
of which Non-recurring financial charges: +€123,000
- Gross operating margin -€5,088
down €5,088 (-17.4%), from €29,272 to €24,184
- Taxes +€2,281
up €2,281 (+97.6%), from €2,337 to €4,618
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €705,778 | €574,520 | -€131,258 | -18.6% |
| Fixed assets | 21/28 | €679,071 | €4,264 | -€674,807 | -99.4% |
| Tangible fixed assets | 22/27 | €4,071 | €4,264 | +€193 | +4.7% |
| Plant, machinery and equipment | 23 | - | €456 | +€456 | |
| Other tangible fixed assets | 26 | €4,071 | €3,808 | -€263 | -6.5% |
| Financial fixed assets | 28 | €675,000 | €0 | -€675,000 | -100% |
| Current assets | 29/58 | €26,707 | €570,257 | +€543,550 | +2,035% |
| Amounts receivable within one year | 40/41 | €18,150 | €413,069 | +€394,919 | +2,176% |
| Trade receivables | 40 | €18,150 | €20,265 | +€2,115 | +11.7% |
| Other amounts receivable | 41 | €0 | €392,804 | +€392,804 | |
| Cash at bank and in hand | 54/58 | €8,557 | €157,187 | +€148,630 | +1,737% |
| Total equity and liabilities | 10/49 | €705,778 | €574,520 | -€131,258 | -18.6% |
| Equity | 10/15 | €626,914 | €371,140 | -€255,774 | -40.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,788 | €27,788 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €27,788 | €27,788 | = | 0.0% |
| Profit (loss) carried forward | 14 | €592,926 | €337,152 | -€255,774 | -43.1% |
| Amounts payable | 17/49 | €78,864 | €203,380 | +€124,516 | +158% |
| Amounts payable after more than one year | 17 | €33,883 | €12,648 | -€21,234 | -62.7% |
| Financial debts | 170/4 | €33,883 | €12,648 | -€21,234 | -62.7% |
| Amounts payable within one year | 42/48 | €44,981 | €190,732 | +€145,751 | +324% |
| Current portion of amounts payable after more than one year | 42 | €20,680 | €21,234 | +€554 | +2.7% |
| Trade debts | 44 | €221 | €28 | -€193 | -87.4% |
| Suppliers | 440/4 | €221 | €28 | -€193 | -87.4% |
| Taxes, remuneration and social security | 45 | €12,115 | €32,009 | +€19,893 | +164% |
| Taxes | 450/3 | €9,590 | €29,483 | +€19,893 | +207% |
| Remuneration and social security | 454/9 | €2,526 | €2,526 | = | 0.0% |
| Other amounts payable | 47/48 | €11,965 | €137,461 | +€125,496 | +1,049% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263 | €327 | +€64 | +24.4% |
| Other operating charges | 640/8 | €695 | €672 | -€23 | -3.3% |
| Gross operating margin | 9900 | €29,272 | €24,184 | -€5,088 | -17.4% |
| Operating profit (loss) | 9901 | €28,314 | €23,185 | -€5,129 | -18.1% |
| Financial income | 75/76B | €530,006 | €0 | -€530,006 | -100% |
| Recurring financial income | 75 | €530,006 | €0 | -€530,006 | -100% |
| Financial charges | 65/66B | €20,586 | €124,341 | +€103,756 | +504% |
| Recurring financial charges | 65 | €20,586 | €1,341 | -€19,244 | -93.5% |
| Non-recurring financial charges | 66B | - | €123,000 | +€123,000 | |
| Profit (loss) for the period before taxes | 9903 | €537,735 | -€101,156 | -€638,890 | |
| Income taxes | 67/77 | €2,337 | €4,618 | +€2,281 | +97.6% |
| Profit (loss) for the period | 9904 | €535,398 | -€105,774 | -€641,172 | |
| Profit (loss) for the period to be appropriated | 9905 | €535,398 | -€105,774 | -€641,172 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.