TIMOTHY FOUBERT: 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.
TIMOTHY FOUBERT
Largest movements
- Cash +€310,556
up €310,556 (+20,930%), from €1,484 to €312,040
mainly Net result for the year (+€145,337) and Investment in fixed assets (net) (+€82,403)
- Tangible fixed assets -€85,643
down €85,643 (-69.1%), from €123,915 to €38,272
of which Land and buildings: -€99,968
- Deferred charges and accrued income -€47,839
down €47,839 (-96.7%), from €49,473 to €1,635
- Receivables within one year -€31,627
down €31,627 (-72.3%), from €43,767 to €12,140
of which Trade receivables: -€35,186
- Reserves +€143,274
up €143,274 (+47.2%), from €303,513 to €446,787
of which Distributable reserves: +€145,000
- Advances received -€48,830
down €48,830 (-98.7%), from €49,473 to €643
- Tax, wage and social debts +€44,746
up €44,746 (+272%), from €16,424 to €61,170
- Gross operating margin +€196,817
up €196,817 (+1,235%), from €15,941 to €212,758
- Taxes +€79,250
up €79,250, from -€3,679 to €75,571
- Depreciation -€17,706
down €17,706 (-84.5%), from €20,946 to €3,240
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 | €646,630 | €792,077 | +€145,447 | +22.5% |
| Fixed assets | 21/28 | €123,915 | €38,272 | -€85,643 | -69.1% |
| Tangible fixed assets | 22/27 | €123,915 | €38,272 | -€85,643 | -69.1% |
| Land and buildings | 22 | €121,525 | €21,557 | -€99,968 | -82.3% |
| Plant, machinery and equipment | 23 | €1,091 | €3,136 | +€2,046 | +188% |
| Furniture and vehicles | 24 | €1,300 | €13,579 | +€12,279 | +945% |
| Current assets | 29/58 | €522,714 | €753,805 | +€231,090 | +44.2% |
| Amounts receivable after more than one year | 29 | €425,000 | €425,000 | = | 0.0% |
| Other amounts receivable | 291 | €425,000 | €425,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,767 | €12,140 | -€31,627 | -72.3% |
| Trade receivables | 40 | €43,203 | €8,017 | -€35,186 | -81.4% |
| Other amounts receivable | 41 | €565 | €4,123 | +€3,559 | +630% |
| Current investments | 50/53 | €2,990 | €2,990 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,484 | €312,040 | +€310,556 | +20,930% |
| Deferred charges and accrued income | 490/1 | €49,473 | €1,635 | -€47,839 | -96.7% |
| Total equity and liabilities | 10/49 | €646,630 | €792,077 | +€145,447 | +22.5% |
| Equity | 10/15 | €441,995 | €587,332 | +€145,337 | +32.9% |
| Contributions | 10/11 | €126,000 | €126,000 | = | 0.0% |
| Reserves | 13 | €303,513 | €446,787 | +€143,274 | +47.2% |
| Non-distributable reserves | 130/1 | €12,600 | €12,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,600 | €12,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,913 | €29,187 | -€1,726 | -5.6% |
| Distributable reserves | 133 | €260,000 | €405,000 | +€145,000 | +55.8% |
| Profit (loss) carried forward | 14 | €12,482 | €14,545 | +€2,063 | +16.5% |
| Provisions and deferred taxes | 16 | €4,740 | €3,851 | -€889 | -18.8% |
| Deferred taxes | 168 | €4,740 | €3,851 | -€889 | -18.8% |
| Amounts payable | 17/49 | €199,894 | €200,893 | +€999 | +0.5% |
| Amounts payable after more than one year | 17 | €210 | €210 | = | 0.0% |
| Other amounts payable | 178/9 | €210 | €210 | = | 0.0% |
| Amounts payable within one year | 42/48 | €194,835 | €191,065 | -€3,770 | -1.9% |
| Trade debts | 44 | €109 | €587 | +€478 | +439% |
| Suppliers | 440/4 | €109 | €587 | +€478 | +439% |
| Advances received on contracts in progress | 46 | €49,473 | €643 | -€48,830 | -98.7% |
| Taxes, remuneration and social security | 45 | €16,424 | €61,170 | +€44,746 | +272% |
| Taxes | 450/3 | €16,424 | €61,170 | +€44,746 | +272% |
| Other amounts payable | 47/48 | €128,829 | €128,665 | -€164 | -0.1% |
| Accrued charges and deferred income | 492/3 | €4,849 | €9,619 | +€4,769 | +98.3% |
| Non-recurring operating income | 76A | €1,136 | €307,952 | +€306,816 | +27,002% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,946 | €3,240 | -€17,706 | -84.5% |
| Other operating charges | 640/8 | €416 | €606 | +€190 | +45.6% |
| Gross operating margin | 9900 | €15,941 | €212,758 | +€196,817 | +1,235% |
| Operating profit (loss) | 9901 | -€5,422 | €208,912 | +€214,334 | |
| Financial income | 75/76B | €12,753 | €12,759 | +€6 | 0.0% |
| Recurring financial income | 75 | €12,753 | €12,759 | +€6 | 0.0% |
| Financial charges | 65/66B | €1,781 | €1,652 | -€129 | -7.2% |
| Recurring financial charges | 65 | €1,781 | €1,652 | -€129 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €5,550 | €220,019 | +€214,469 | +3,864% |
| Transfer from deferred taxes | 780 | €10,369 | €889 | -€9,480 | -91.4% |
| Income taxes | 67/77 | -€3,679 | €75,571 | +€79,250 | |
| Profit (loss) for the period | 9904 | €19,599 | €145,337 | +€125,738 | +642% |
| Transfer from tax-exempt reserves | 789 | €21,290 | €1,726 | -€19,564 | -91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,888 | €147,063 | +€106,175 | +260% |
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.