TO-BE: what changed
Two fiscal 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.
TO-BE
Largest movements
- Cash -€131,199
down €131,199 (-37.8%), from €346,799 to €215,599
mainly Investment in fixed assets (net) (-€155,582) and Other debts (-€154,416)
- Tangible fixed assets +€77,032
up €77,032 (+58.9%), from €130,678 to €207,710
of which Furniture and vehicles: +€128,677
- Other debts -€154,416
down €154,416 (-80.3%), from €192,218 to €37,803
- Reserves +€145,455
up €145,455 (+11.1%), from €1.3m to €1.5m
- Debts after one year -€100,773
down €100,773 (-9.5%), from €1.1m to €955,156
- Trade debts +€81,159
up €81,159 (+18.1%), from €448,211 to €529,370
- Tax, wage and social debts -€42,703
down €42,703 (-25.4%), from €167,921 to €125,218
of which Taxes: -€61,445
- Turnover +€6.8m
new in 2025: €6.8m
- Purchases and services +€5.9m
new in 2025: €5.9m
- Gross operating margin -€257,554
down €257,554 (-20.6%), from €1.2m to €991,709
- Staff costs -€95,077
down €95,077 (-12.9%), from €739,130 to €644,054
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 | €3,505,033 | €3,466,457 | -€38,576 | -1.1% |
| Fixed assets | 21/28 | €2,637,325 | €2,710,096 | +€72,772 | +2.8% |
| Intangible fixed assets | 21 | €5,100 | €840 | -€4,260 | -83.5% |
| Tangible fixed assets | 22/27 | €130,678 | €207,710 | +€77,032 | +58.9% |
| Plant, machinery and equipment | 23 | €99,604 | €47,959 | -€51,645 | -51.8% |
| Furniture and vehicles | 24 | €31,074 | €159,751 | +€128,677 | +414.1% |
| Financial fixed assets | 28 | €2,501,547 | €2,501,547 | = | 0.0% |
| Current assets | 29/58 | €867,708 | €756,361 | -€111,347 | -12.8% |
| Stocks and contracts in progress | 3 | €501,232 | €508,726 | +€7,495 | +1.5% |
| Stocks | 30/36 | €501,232 | €508,726 | +€7,495 | +1.5% |
| Amounts receivable within one year | 40/41 | €17,130 | €31,104 | +€13,974 | +81.6% |
| Trade receivables | 40 | - | €9,115 | +€9,115 | |
| Other amounts receivable | 41 | €17,130 | €21,990 | +€4,860 | +28.4% |
| Cash at bank and in hand | 54/58 | €346,799 | €215,599 | -€131,199 | -37.8% |
| Deferred charges and accrued income | 490/1 | €2,547 | €931 | -€1,617 | -63.5% |
| Total equity and liabilities | 10/49 | €3,505,033 | €3,466,457 | -€38,576 | -1.1% |
| Equity | 10/15 | €1,407,596 | €1,577,982 | +€170,386 | +12.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,312,448 | €1,457,903 | +€145,455 | +11.1% |
| Distributable reserves | 133 | €1,312,448 | €1,457,903 | +€145,455 | +11.1% |
| Profit (loss) carried forward | 14 | €45,148 | €70,080 | +€24,931 | +55.2% |
| Amounts payable | 17/49 | €2,097,436 | €1,888,475 | -€208,962 | -10.0% |
| Amounts payable after more than one year | 17 | €1,055,930 | €955,156 | -€100,773 | -9.5% |
| Financial debts | 170/4 | €1,055,930 | €955,156 | -€100,773 | -9.5% |
| Amounts payable within one year | 42/48 | €1,041,507 | €933,319 | -€108,188 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €204,915 | €220,491 | +€15,576 | +7.6% |
| Financial debts | 43 | €28,241 | €20,437 | -€7,804 | -27.6% |
| Credit institutions | 430/8 | €28,241 | €20,437 | -€7,804 | -27.6% |
| Trade debts | 44 | €448,211 | €529,370 | +€81,159 | +18.1% |
| Suppliers | 440/4 | €448,211 | €529,370 | +€81,159 | +18.1% |
| Taxes, remuneration and social security | 45 | €167,921 | €125,218 | -€42,703 | -25.4% |
| Taxes | 450/3 | €91,556 | €30,111 | -€61,445 | -67.1% |
| Remuneration and social security | 454/9 | €76,365 | €95,107 | +€18,741 | +24.5% |
| Other amounts payable | 47/48 | €192,218 | €37,803 | -€154,416 | -80.3% |
| Turnover | 70 | - | €6,835,912 | +€6.8m | |
| Non-recurring operating income | 76A | - | €22,145 | +€22,145 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €5,896,715 | +€5.9m | |
| Remuneration, social security and pensions | 62 | €739,130 | €644,054 | -€95,077 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,192 | €82,810 | -€11,382 | -12.1% |
| Other operating charges | 640/8 | €10,062 | €14,466 | +€4,404 | +43.8% |
| Gross operating margin | 9900 | €1,249,263 | €991,709 | -€257,554 | -20.6% |
| Operating profit (loss) | 9901 | €405,879 | €250,379 | -€155,500 | -38.3% |
| Financial income | 75/76B | €19,882 | €23,671 | +€3,789 | +19.1% |
| Recurring financial income | 75 | €19,882 | €23,671 | +€3,789 | +19.1% |
| Financial charges | 65/66B | €29,549 | €25,486 | -€4,062 | -13.7% |
| Recurring financial charges | 65 | €29,549 | €25,486 | -€4,062 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €396,213 | €248,564 | -€147,648 | -37.3% |
| Income taxes | 67/77 | €127,972 | €78,178 | -€49,794 | -38.9% |
| Profit (loss) for the period | 9904 | €268,241 | €170,386 | -€97,855 | -36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €268,241 | €170,386 | -€97,855 | -36.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.