TOM MOERMAN: 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.
TOM MOERMAN
Largest movements
- Cash +€58,742
up €58,742 (+69.2%), from €84,846 to €143,587
mainly Net result for the year (+€34,433) and Depreciation (+€19,046)
- Receivables within one year -€17,381
down €17,381 (-55.6%), from €31,237 to €13,856
of which Trade receivables: -€15,742
- Tangible fixed assets -€10,466
down €10,466 (-5.0%), from €209,002 to €198,536
of which Land and buildings: -€6,191
- Reserves +€34,433
up €34,433 (+26.4%), from €130,610 to €165,043
of which Distributable reserves: +€34,433
- Debts after one year -€23,283
down €23,283 (-17.9%), from €129,733 to €106,450
- Tax, wage and social debts +€12,050
up €12,050 (+130%), from €9,285 to €21,335
of which Taxes: +€13,919
- Other debts +€11,923
up €11,923 (+143%), from €8,344 to €20,267
- Trade debts -€11,446
down €11,446 (-32.6%), from €35,155 to €23,709
- Staff costs -€38,855
down €38,855 (-72.8%), from €53,337 to €14,481
- Gross operating margin -€11,149
down €11,149 (-11.4%), from €98,222 to €87,072
- Taxes +€8,939
up €8,939 (+152%), from €5,897 to €14,835
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 | €342,711 | €366,814 | +€24,104 | +7.0% |
| Fixed assets | 21/28 | €209,002 | €198,536 | -€10,466 | -5.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €209,002 | €198,536 | -€10,466 | -5.0% |
| Land and buildings | 22 | €187,815 | €181,624 | -€6,191 | -3.3% |
| Plant, machinery and equipment | 23 | €3,670 | €4,435 | +€765 | +20.9% |
| Furniture and vehicles | 24 | €17,517 | €12,477 | -€5,040 | -28.8% |
| Current assets | 29/58 | €133,709 | €168,278 | +€34,569 | +25.9% |
| Stocks and contracts in progress | 3 | €8,484 | €5,035 | -€3,449 | -40.7% |
| Stocks | 30/36 | €8,484 | €5,035 | -€3,449 | -40.7% |
| Amounts receivable within one year | 40/41 | €31,237 | €13,856 | -€17,381 | -55.6% |
| Trade receivables | 40 | €24,829 | €9,087 | -€15,742 | -63.4% |
| Other amounts receivable | 41 | €6,408 | €4,769 | -€1,640 | -25.6% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €84,846 | €143,587 | +€58,742 | +69.2% |
| Deferred charges and accrued income | 490/1 | €4,142 | €800 | -€3,342 | -80.7% |
| Total equity and liabilities | 10/49 | €342,711 | €366,814 | +€24,104 | +7.0% |
| Equity | 10/15 | €137,277 | €171,710 | +€34,433 | +25.1% |
| Contributions | 10/11 | €6,667 | €6,667 | = | 0.0% |
| Reserves | 13 | €130,610 | €165,043 | +€34,433 | +26.4% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €120,610 | €155,043 | +€34,433 | +28.5% |
| Amounts payable | 17/49 | €205,433 | €195,104 | -€10,329 | -5.0% |
| Amounts payable after more than one year | 17 | €129,733 | €106,450 | -€23,283 | -17.9% |
| Financial debts | 170/4 | €129,733 | €106,450 | -€23,283 | -17.9% |
| Amounts payable within one year | 42/48 | €75,700 | €88,654 | +€12,954 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €22,916 | €23,343 | +€427 | +1.9% |
| Trade debts | 44 | €35,155 | €23,709 | -€11,446 | -32.6% |
| Suppliers | 440/4 | €35,155 | €23,709 | -€11,446 | -32.6% |
| Taxes, remuneration and social security | 45 | €9,285 | €21,335 | +€12,050 | +130% |
| Taxes | 450/3 | €5,916 | €19,835 | +€13,919 | +235% |
| Remuneration and social security | 454/9 | €3,369 | €1,500 | -€1,869 | -55.5% |
| Other amounts payable | 47/48 | €8,344 | €20,267 | +€11,923 | +143% |
| Remuneration, social security and pensions | 62 | €53,337 | €14,481 | -€38,855 | -72.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,916 | €19,046 | -€870 | -4.4% |
| Other operating charges | 640/8 | €1,117 | €1,151 | +€34 | +3.1% |
| Gross operating margin | 9900 | €98,222 | €87,072 | -€11,149 | -11.4% |
| Operating profit (loss) | 9901 | €23,852 | €52,394 | +€28,542 | +120% |
| Financial income | 75/76B | €70 | €173 | +€104 | +149% |
| Recurring financial income | 75 | €70 | €173 | +€104 | +149% |
| Financial charges | 65/66B | €4,020 | €3,299 | -€721 | -17.9% |
| Recurring financial charges | 65 | €4,020 | €3,299 | -€721 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €19,901 | €49,268 | +€29,367 | +148% |
| Income taxes | 67/77 | €5,897 | €14,835 | +€8,939 | +152% |
| Profit (loss) for the period | 9904 | €14,005 | €34,433 | +€20,428 | +146% |
| Profit (loss) for the period to be appropriated | 9905 | €14,005 | €34,433 | +€20,428 | +146% |
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 13 October 2026 via checked.be.