USAGE EXTERNE: 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.
USAGE EXTERNE
Largest movements
- Tangible fixed assets -€84,004
down €84,004 (-11.7%), from €716,212 to €632,208
of which Other tangible fixed assets: -€83,206
- Reserves -€71,273
down €71,273 (-6.4%), from €1.1m to €1.0m
of which Distributable reserves: -€71,273
- Gross operating margin +€33,503
up €33,503, from -€11,542 to €21,961
- Write-downs -€15,826
down €15,826 (-100.0%), from €15,826 to €0
- Financial charges +€1,417
up €1,417 (+58.3%), from €2,430 to €3,847
- Depreciation +€709
up €709 (+0.8%), from €90,006 to €90,715
- Other operating charges -€583
down €583 (-12.5%), from €4,665 to €4,083
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 | €1,182,058 | €1,112,761 | -€69,297 | -5.9% |
| Fixed assets | 21/28 | €716,212 | €632,208 | -€84,004 | -11.7% |
| Tangible fixed assets | 22/27 | €716,212 | €632,208 | -€84,004 | -11.7% |
| Plant, machinery and equipment | 23 | €822 | €338 | -€484 | -58.9% |
| Furniture and vehicles | 24 | €47,023 | €46,709 | -€314 | -0.7% |
| Other tangible fixed assets | 26 | €668,367 | €585,161 | -€83,206 | -12.4% |
| Current assets | 29/58 | €465,847 | €480,553 | +€14,707 | +3.2% |
| Amounts receivable within one year | 40/41 | €246,916 | €255,960 | +€9,044 | +3.7% |
| Trade receivables | 40 | €32,114 | €33,329 | +€1,214 | +3.8% |
| Other amounts receivable | 41 | €214,802 | €222,631 | +€7,830 | +3.6% |
| Current investments | 50/53 | €217,087 | €217,087 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €663 | €2,531 | +€1,868 | +281.8% |
| Deferred charges and accrued income | 490/1 | €1,181 | €4,975 | +€3,795 | +321.4% |
| Total equity and liabilities | 10/49 | €1,182,058 | €1,112,761 | -€69,297 | -5.9% |
| Equity | 10/15 | €1,130,962 | €1,059,689 | -€71,273 | -6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,112,362 | €1,041,089 | -€71,273 | -6.4% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,112,362 | €1,041,089 | -€71,273 | -6.4% |
| Amounts payable | 17/49 | €51,096 | €53,072 | +€1,976 | +3.9% |
| Amounts payable within one year | 42/48 | €50,684 | €53,072 | +€2,388 | +4.7% |
| Financial debts | 43 | €856 | €187 | -€669 | -78.2% |
| Credit institutions | 430/8 | €856 | €187 | -€669 | -78.2% |
| Trade debts | 44 | €3,407 | €13,289 | +€9,881 | +290.0% |
| Suppliers | 440/4 | €3,407 | €13,289 | +€9,881 | +290.0% |
| Taxes, remuneration and social security | 45 | €1,006 | €1,570 | +€564 | +56.1% |
| Taxes | 450/3 | €1,006 | €1,570 | +€564 | +56.1% |
| Other amounts payable | 47/48 | €45,415 | €38,026 | -€7,388 | -16.3% |
| Accrued charges and deferred income | 492/3 | €412 | €0 | -€412 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,006 | €90,715 | +€709 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,826 | €0 | -€15,826 | -100.0% |
| Other operating charges | 640/8 | €4,665 | €4,083 | -€583 | -12.5% |
| Gross operating margin | 9900 | -€11,542 | €21,961 | +€33,503 | |
| Operating profit (loss) | 9901 | -€122,039 | -€72,837 | +€49,202 | +40.3% |
| Financial income | 75/76B | €6,129 | €5,879 | -€250 | -4.1% |
| Recurring financial income | 75 | €6,129 | €5,879 | -€250 | -4.1% |
| Financial charges | 65/66B | €2,430 | €3,847 | +€1,417 | +58.3% |
| Recurring financial charges | 65 | €2,430 | €3,847 | +€1,417 | +58.3% |
| Profit (loss) for the period before taxes | 9903 | -€118,340 | -€70,805 | +€47,535 | +40.2% |
| Income taxes | 67/77 | €440 | €468 | +€28 | +6.3% |
| Profit (loss) for the period | 9904 | -€118,780 | -€71,273 | +€47,507 | +40.0% |
| Transfer from tax-exempt reserves | 789 | €31,840 | €0 | -€31,840 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,940 | -€71,273 | +€15,667 | +18.0% |
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 1 October 2026 via checked.be.