UP AND RUNNING: 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.
UP AND RUNNING
Largest movements
- Tangible fixed assets -€31,200
down €31,200 (-3.4%), from €907,995 to €876,795
- Receivables within one year +€23,844
up €23,844 (+25.2%), from €94,564 to €118,408
of which Other amounts receivable: +€31,202
- Other debts +€73,867
up €73,867 (+96.4%), from €76,651 to €150,518
- Debts after one year -€47,127
down €47,127 (-8.8%), from €533,489 to €486,362
- Current portion of long-term debt -€27,696
down €27,696 (-31.9%), from €86,701 to €59,005
- Financial charges +€5,257
up €5,257 (+33.4%), from €15,750 to €21,007
- Other operating charges -€3,833
down €3,833 (-41.2%), from €9,307 to €5,474
- Gross operating margin -€3,606
down €3,606 (-5.5%), from €66,109 to €62,503
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 | €1,026,847 | €1,030,282 | +€3,435 | +0.3% |
| Fixed assets | 21/28 | €922,995 | €900,405 | -€22,590 | -2.4% |
| Tangible fixed assets | 22/27 | €907,995 | €876,795 | -€31,200 | -3.4% |
| Land and buildings | 22 | €907,995 | €876,795 | -€31,200 | -3.4% |
| Financial fixed assets | 28 | €15,000 | €23,610 | +€8,610 | +57.4% |
| Current assets | 29/58 | €103,852 | €129,877 | +€26,025 | +25.1% |
| Stocks and contracts in progress | 3 | €9,169 | €9,169 | = | 0.0% |
| Stocks | 30/36 | €9,169 | €9,169 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €94,564 | €118,408 | +€23,844 | +25.2% |
| Trade receivables | 40 | €14,705 | €7,347 | -€7,358 | -50.0% |
| Other amounts receivable | 41 | €79,858 | €111,061 | +€31,202 | +39.1% |
| Cash at bank and in hand | 54/58 | €119 | €110 | -€10 | -8.2% |
| Deferred charges and accrued income | 490/1 | €0 | €2,191 | +€2,191 | |
| Total equity and liabilities | 10/49 | €1,026,847 | €1,030,282 | +€3,435 | +0.3% |
| Equity | 10/15 | €284,007 | €289,315 | +€5,308 | +1.9% |
| Contributions | 10/11 | €158,720 | €158,720 | = | 0.0% |
| Reserves | 13 | €124,325 | €124,325 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,112 | €17,112 | = | 0.0% |
| Other | 1319 | €17,112 | €17,112 | = | 0.0% |
| Distributable reserves | 133 | €107,213 | €107,213 | = | 0.0% |
| Profit (loss) carried forward | 14 | €962 | €6,270 | +€5,308 | +552% |
| Amounts payable | 17/49 | €742,840 | €740,967 | -€1,873 | -0.3% |
| Amounts payable after more than one year | 17 | €533,489 | €486,362 | -€47,127 | -8.8% |
| Financial debts | 170/4 | €533,489 | €486,362 | -€47,127 | -8.8% |
| Amounts payable within one year | 42/48 | €209,351 | €254,605 | +€45,254 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €86,701 | €59,005 | -€27,696 | -31.9% |
| Trade debts | 44 | €36,749 | €28,098 | -€8,651 | -23.5% |
| Suppliers | 440/4 | €36,749 | €28,098 | -€8,651 | -23.5% |
| Taxes, remuneration and social security | 45 | €9,250 | €16,984 | +€7,734 | +83.6% |
| Taxes | 450/3 | €9,250 | €16,984 | +€7,734 | +83.6% |
| Other amounts payable | 47/48 | €76,651 | €150,518 | +€73,867 | +96.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,200 | €31,200 | +€0 | 0.0% |
| Other operating charges | 640/8 | €9,307 | €5,474 | -€3,833 | -41.2% |
| Gross operating margin | 9900 | €66,109 | €62,503 | -€3,606 | -5.5% |
| Operating profit (loss) | 9901 | €25,602 | €25,829 | +€227 | +0.9% |
| Financial income | 75/76B | €1,812 | €2,294 | +€482 | +26.6% |
| Recurring financial income | 75 | €1,812 | €2,294 | +€482 | +26.6% |
| Financial charges | 65/66B | €15,750 | €21,007 | +€5,257 | +33.4% |
| Recurring financial charges | 65 | €15,750 | €21,007 | +€5,257 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €11,663 | €7,116 | -€4,547 | -39.0% |
| Income taxes | 67/77 | €1,229 | €1,808 | +€579 | +47.1% |
| Profit (loss) for the period | 9904 | €10,435 | €5,308 | -€5,126 | -49.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,435 | €5,308 | -€5,126 | -49.1% |
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 26 October 2026 via checked.be.