TRANSFORMATION CATALYSTS: 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.
TRANSFORMATION CATALYSTS
Largest movements
- Tangible fixed assets -€15,800
down €15,800 (-12.7%), from €124,424 to €108,624
of which Furniture and vehicles: -€11,022
- Receivables within one year +€13,349
up €13,349 (+33.5%), from €39,879 to €53,228
of which Other amounts receivable: +€8,924
- Deferred charges and accrued income +€2,820
new in 2025: €2,820
- Other debts +€14,980
up €14,980 (+18.1%), from €82,947 to €97,927
- Profit (loss) carried forward -€10,411
down €10,411 (-16.4%), from €63,434 to €53,023
- Trade debts +€5,671
up €5,671 (+125%), from €4,530 to €10,201
- Current portion of long-term debt -€5,300
no longer reported in 2025 (was €5,300)
- Accrued charges and deferred income -€3,750
no longer reported in 2025 (was €3,750)
- Gross operating margin -€21,395
down €21,395 (-40.4%), from €53,021 to €31,626
- Depreciation +€5,127
up €5,127 (+16.4%), from €31,195 to €36,322
- Taxes -€542
down €542 (-13.3%), from €4,075 to €3,533
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 | €164,961 | €166,151 | +€1,190 | +0.7% |
| Fixed assets | 21/28 | €124,874 | €109,074 | -€15,800 | -12.7% |
| Tangible fixed assets | 22/27 | €124,424 | €108,624 | -€15,800 | -12.7% |
| Plant, machinery and equipment | 23 | €6,582 | €1,804 | -€4,778 | -72.6% |
| Furniture and vehicles | 24 | €117,842 | €106,820 | -€11,022 | -9.4% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €40,087 | €57,077 | +€16,990 | +42.4% |
| Amounts receivable within one year | 40/41 | €39,879 | €53,228 | +€13,349 | +33.5% |
| Trade receivables | 40 | €32,745 | €37,170 | +€4,425 | +13.5% |
| Other amounts receivable | 41 | €7,134 | €16,058 | +€8,924 | +125% |
| Cash at bank and in hand | 54/58 | €208 | €1,029 | +€821 | +395% |
| Deferred charges and accrued income | 490/1 | - | €2,820 | +€2,820 | |
| Total equity and liabilities | 10/49 | €164,961 | €166,151 | +€1,190 | +0.7% |
| Equity | 10/15 | €68,434 | €58,023 | -€10,411 | -15.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,434 | €53,023 | -€10,411 | -16.4% |
| Amounts payable | 17/49 | €96,527 | €108,128 | +€11,601 | +12.0% |
| Amounts payable within one year | 42/48 | €92,777 | €108,128 | +€15,351 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €5,300 | - | -€5,300 | |
| Trade debts | 44 | €4,530 | €10,201 | +€5,671 | +125% |
| Suppliers | 440/4 | €4,530 | €10,201 | +€5,671 | +125% |
| Other amounts payable | 47/48 | €82,947 | €97,927 | +€14,980 | +18.1% |
| Accrued charges and deferred income | 492/3 | €3,750 | - | -€3,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,195 | €36,322 | +€5,127 | +16.4% |
| Other operating charges | 640/8 | €1,824 | €1,930 | +€106 | +5.8% |
| Gross operating margin | 9900 | €53,021 | €31,626 | -€21,395 | -40.4% |
| Operating profit (loss) | 9901 | €20,002 | -€6,625 | -€26,627 | |
| Financial charges | 65/66B | €602 | €253 | -€349 | -58.0% |
| Recurring financial charges | 65 | €602 | €253 | -€349 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €19,400 | -€6,878 | -€26,278 | |
| Income taxes | 67/77 | €4,075 | €3,533 | -€542 | -13.3% |
| Profit (loss) for the period | 9904 | €15,325 | -€10,411 | -€25,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,325 | -€10,411 | -€25,736 |
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.