Trifecta: 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.
Trifecta
Largest movements
- Receivables within one year +€14,676
up €14,676 (+193.5%), from €7,583 to €22,259
of which Trade receivables: +€14,697
- Cash -€12,674
down €12,674 (-90.8%), from €13,962 to €1,288
mainly Receivables within one year (-€14,676) and Other debts (-€8,735)
- Tangible fixed assets -€3,215
down €3,215 (-22.0%), from €14,581 to €11,367
of which Furniture and vehicles: -€2,500
- Formation expenses -€938
down €938 (-100.0%), from €938 to €0
- Other debts -€8,735
down €8,735 (-66.5%), from €13,140 to €4,405
- Reserves +€8,124
up €8,124 (+134.6%), from €6,034 to €14,158
- Trade debts -€2,005
down €2,005 (-66.1%), from €3,033 to €1,028
- Tax, wage and social debts +€601
up €601 (+5.5%), from €10,857 to €11,458
of which Taxes: +€2,101
- Gross operating margin +€6,944
up €6,944 (+72.6%), from €9,570 to €16,514
- Depreciation +€2,899
up €2,899 (+231.2%), from €1,254 to €4,153
- Taxes +€1,627
up €1,627 (+90.8%), from €1,792 to €3,419
- Other operating charges +€259
up €259 (+53.4%), from €485 to €744
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 | €37,089 | €35,050 | -€2,039 | -5.5% |
| Formation expenses | 20 | €938 | €0 | -€938 | -100.0% |
| Fixed assets | 21/28 | €14,581 | €11,367 | -€3,215 | -22.0% |
| Tangible fixed assets | 22/27 | €14,581 | €11,367 | -€3,215 | -22.0% |
| Plant, machinery and equipment | 23 | €2,095 | €1,380 | -€715 | -34.1% |
| Furniture and vehicles | 24 | €12,486 | €9,986 | -€2,500 | -20.0% |
| Current assets | 29/58 | €21,570 | €23,683 | +€2,113 | +9.8% |
| Amounts receivable within one year | 40/41 | €7,583 | €22,259 | +€14,676 | +193.5% |
| Trade receivables | 40 | €7,190 | €21,888 | +€14,697 | +204.4% |
| Other amounts receivable | 41 | €392 | €371 | -€21 | -5.3% |
| Cash at bank and in hand | 54/58 | €13,962 | €1,288 | -€12,674 | -90.8% |
| Deferred charges and accrued income | 490/1 | €25 | €136 | +€111 | +438.2% |
| Total equity and liabilities | 10/49 | €37,089 | €35,050 | -€2,039 | -5.5% |
| Equity | 10/15 | €10,034 | €18,158 | +€8,124 | +81.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €6,034 | €14,158 | +€8,124 | +134.6% |
| Distributable reserves | 133 | €6,034 | €14,158 | +€8,124 | +134.6% |
| Amounts payable | 17/49 | €27,055 | €16,891 | -€10,164 | -37.6% |
| Amounts payable within one year | 42/48 | €27,030 | €16,891 | -€10,139 | -37.5% |
| Trade debts | 44 | €3,033 | €1,028 | -€2,005 | -66.1% |
| Suppliers | 440/4 | €3,033 | €1,028 | -€2,005 | -66.1% |
| Taxes, remuneration and social security | 45 | €10,857 | €11,458 | +€601 | +5.5% |
| Taxes | 450/3 | €6,357 | €8,458 | +€2,101 | +33.1% |
| Remuneration and social security | 454/9 | €4,500 | €3,000 | -€1,500 | -33.3% |
| Other amounts payable | 47/48 | €13,140 | €4,405 | -€8,735 | -66.5% |
| Accrued charges and deferred income | 492/3 | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,254 | €4,153 | +€2,899 | +231.2% |
| Other operating charges | 640/8 | €485 | €744 | +€259 | +53.4% |
| Gross operating margin | 9900 | €9,570 | €16,514 | +€6,944 | +72.6% |
| Operating profit (loss) | 9901 | €7,831 | €11,617 | +€3,786 | +48.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €5 | €74 | +€69 | +1372.8% |
| Recurring financial charges | 65 | €5 | €74 | +€69 | +1372.8% |
| Profit (loss) for the period before taxes | 9903 | €7,826 | €11,544 | +€3,717 | +47.5% |
| Income taxes | 67/77 | €1,792 | €3,419 | +€1,627 | +90.8% |
| Profit (loss) for the period | 9904 | €6,034 | €8,124 | +€2,091 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,034 | €8,124 | +€2,091 | +34.6% |
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 6 October 2026 via checked.be.