TO SIGN: 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.
TO SIGN
Largest movements
- Receivables within one year +€113,390
up €113,390 (+36.1%), from €314,363 to €427,753
of which Trade receivables: +€89,474
- Reserves +€97,067
up €97,067 (+58.4%), from €166,201 to €263,268
of which Distributable reserves: +€97,067
- Trade debts +€16,395
up €16,395 (+2,679%), from €612 to €17,007
- Current portion of long-term debt -€7,377
down €7,377 (-73.5%), from €10,035 to €2,658
- Short-term financial debts +€5,157
new in 2025: €5,157
- Gross operating margin +€90,833
up €90,833 (+235%), from €38,642 to €129,474
- Taxes +€19,024
up €19,024 (+165%), from €11,520 to €30,544
- Financial charges -€5,383
down €5,383 (-55.7%), from €9,661 to €4,279
- Depreciation +€3,927
up €3,927 (+52.1%), from €7,535 to €11,462
- Other operating charges -€3,885
down €3,885 (-78.0%), from €4,982 to €1,098
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 | €371,150 | €479,391 | +€108,241 | +29.2% |
| Fixed assets | 21/28 | €53,324 | €49,995 | -€3,330 | -6.2% |
| Tangible fixed assets | 22/27 | €47,864 | €44,535 | -€3,330 | -7.0% |
| Plant, machinery and equipment | 23 | €374 | €2,524 | +€2,150 | +575% |
| Furniture and vehicles | 24 | €47,490 | €42,010 | -€5,480 | -11.5% |
| Financial fixed assets | 28 | €5,460 | €5,460 | = | 0.0% |
| Current assets | 29/58 | €317,825 | €429,396 | +€111,571 | +35.1% |
| Amounts receivable within one year | 40/41 | €314,363 | €427,753 | +€113,390 | +36.1% |
| Trade receivables | 40 | €48,566 | €138,041 | +€89,474 | +184% |
| Other amounts receivable | 41 | €265,797 | €289,713 | +€23,916 | +9.0% |
| Cash at bank and in hand | 54/58 | €3,462 | €1,643 | -€1,819 | -52.5% |
| Total equity and liabilities | 10/49 | €371,150 | €479,391 | +€108,241 | +29.2% |
| Equity | 10/15 | €303,222 | €400,289 | +€97,067 | +32.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €166,201 | €263,268 | +€97,067 | +58.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €164,342 | €261,409 | +€97,067 | +59.1% |
| Profit (loss) carried forward | 14 | €130,823 | €130,823 | = | 0.0% |
| Amounts payable | 17/49 | €67,928 | €79,102 | +€11,174 | +16.5% |
| Amounts payable within one year | 42/48 | €67,928 | €79,102 | +€11,174 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €10,035 | €2,658 | -€7,377 | -73.5% |
| Financial debts | 43 | - | €5,157 | +€5,157 | |
| Credit institutions | 430/8 | - | €5,157 | +€5,157 | |
| Trade debts | 44 | €612 | €17,007 | +€16,395 | +2,679% |
| Suppliers | 440/4 | €612 | €17,007 | +€16,395 | +2,679% |
| Taxes, remuneration and social security | 45 | €57,281 | €54,280 | -€3,001 | -5.2% |
| Taxes | 450/3 | €57,281 | €54,280 | -€3,001 | -5.2% |
| Remuneration, social security and pensions | 62 | €8 | - | -€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,535 | €11,462 | +€3,927 | +52.1% |
| Other operating charges | 640/8 | €4,982 | €1,098 | -€3,885 | -78.0% |
| Gross operating margin | 9900 | €38,642 | €129,474 | +€90,833 | +235% |
| Operating profit (loss) | 9901 | €26,117 | €116,914 | +€90,798 | +348% |
| Financial income | 75/76B | €15,925 | €14,975 | -€951 | -6.0% |
| Recurring financial income | 75 | €15,925 | €14,975 | -€951 | -6.0% |
| Financial charges | 65/66B | €9,661 | €4,279 | -€5,383 | -55.7% |
| Recurring financial charges | 65 | €9,661 | €4,279 | -€5,383 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €32,380 | €127,611 | +€95,230 | +294% |
| Income taxes | 67/77 | €11,520 | €30,544 | +€19,024 | +165% |
| Profit (loss) for the period | 9904 | €20,860 | €97,067 | +€76,206 | +365% |
| Profit (loss) for the period to be appropriated | 9905 | €20,860 | €97,067 | +€76,206 | +365% |
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 19 October 2026 via checked.be.