VISUAL CREATIONS: 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.
VISUAL CREATIONS
Largest movements
- Receivables within one year +€57,729
up €57,729 (+155.8%), from €37,052 to €94,780
of which Other amounts receivable: +€29,955
- Stocks and contracts -€54,359
down €54,359 (-53.1%), from €102,466 to €48,108
- Cash -€28,992
down €28,992 (-13.6%), from €213,326 to €184,335
mainly Investment in fixed assets (net) (-€81,397) and Contributions, distributions and other (-€74,101)
- Intangible fixed assets -€10,618
down €10,618 (-13.9%), from €76,316 to €65,698
- Other debts +€34,317
up €34,317 (+84.0%), from €40,834 to €75,151
- Debts after one year -€30,717
down €30,717 (-11.9%), from €258,676 to €227,959
- Reserves -€26,597
down €26,597 (-6.3%), from €419,633 to €393,036
- Gross operating margin -€90,833
down €90,833 (-25.1%), from €361,964 to €271,131
- Staff costs -€33,729
down €33,729 (-26.9%), from €125,241 to €91,512
- Depreciation -€13,575
down €13,575 (-12.4%), from €109,162 to €95,587
- Taxes -€10,772
down €10,772 (-34.7%), from €31,085 to €20,313
- Financial charges -€4,736
down €4,736 (-26.8%), from €17,646 to €12,910
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 | €977,050 | €939,120 | -€37,931 | -3.9% |
| Fixed assets | 21/28 | €622,660 | €608,470 | -€14,190 | -2.3% |
| Intangible fixed assets | 21 | €76,316 | €65,698 | -€10,618 | -13.9% |
| Tangible fixed assets | 22/27 | €546,343 | €542,772 | -€3,571 | -0.7% |
| Land and buildings | 22 | €393,241 | €380,179 | -€13,063 | -3.3% |
| Plant, machinery and equipment | 23 | €141,320 | €159,346 | +€18,025 | +12.8% |
| Furniture and vehicles | 24 | €11,782 | €3,248 | -€8,534 | -72.4% |
| Current assets | 29/58 | €354,391 | €330,650 | -€23,741 | -6.7% |
| Stocks and contracts in progress | 3 | €102,466 | €48,108 | -€54,359 | -53.1% |
| Contracts in progress | 37 | €102,466 | €48,108 | -€54,359 | -53.1% |
| Amounts receivable within one year | 40/41 | €37,052 | €94,780 | +€57,729 | +155.8% |
| Trade receivables | 40 | €34,380 | €62,154 | +€27,774 | +80.8% |
| Other amounts receivable | 41 | €2,672 | €32,627 | +€29,955 | +1121.2% |
| Cash at bank and in hand | 54/58 | €213,326 | €184,335 | -€28,992 | -13.6% |
| Deferred charges and accrued income | 490/1 | €1,546 | €3,427 | +€1,881 | +121.7% |
| Total equity and liabilities | 10/49 | €977,050 | €939,120 | -€37,931 | -3.9% |
| Equity | 10/15 | €547,195 | €520,598 | -€26,597 | -4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €419,633 | €393,036 | -€26,597 | -6.3% |
| Distributable reserves | 133 | €419,633 | €393,036 | -€26,597 | -6.3% |
| Profit (loss) carried forward | 14 | €108,962 | €108,962 | = | 0.0% |
| Amounts payable | 17/49 | €429,856 | €418,522 | -€11,334 | -2.6% |
| Amounts payable after more than one year | 17 | €258,676 | €227,959 | -€30,717 | -11.9% |
| Financial debts | 170/4 | €258,676 | €227,959 | -€30,717 | -11.9% |
| Amounts payable within one year | 42/48 | €170,092 | €189,915 | +€19,823 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €34,290 | €30,717 | -€3,573 | -10.4% |
| Trade debts | 44 | €37,824 | €29,653 | -€8,172 | -21.6% |
| Suppliers | 440/4 | €37,824 | €29,653 | -€8,172 | -21.6% |
| Taxes, remuneration and social security | 45 | €57,144 | €54,394 | -€2,749 | -4.8% |
| Taxes | 450/3 | €7,868 | €9,312 | +€1,444 | +18.3% |
| Remuneration and social security | 454/9 | €49,275 | €45,082 | -€4,193 | -8.5% |
| Other amounts payable | 47/48 | €40,834 | €75,151 | +€34,317 | +84.0% |
| Accrued charges and deferred income | 492/3 | €1,087 | €648 | -€440 | -40.4% |
| Remuneration, social security and pensions | 62 | €125,241 | €91,512 | -€33,729 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,162 | €95,587 | -€13,575 | -12.4% |
| Other operating charges | 640/8 | €6,978 | €5,896 | -€1,082 | -15.5% |
| Gross operating margin | 9900 | €361,964 | €271,131 | -€90,833 | -25.1% |
| Operating profit (loss) | 9901 | €120,583 | €78,136 | -€42,447 | -35.2% |
| Financial income | 75/76B | €1,067 | €2,591 | +€1,524 | +142.8% |
| Recurring financial income | 75 | €1,067 | €2,591 | +€1,524 | +142.8% |
| Financial charges | 65/66B | €17,646 | €12,910 | -€4,736 | -26.8% |
| Recurring financial charges | 65 | €17,646 | €12,910 | -€4,736 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €104,004 | €67,817 | -€36,187 | -34.8% |
| Income taxes | 67/77 | €31,085 | €20,313 | -€10,772 | -34.7% |
| Profit (loss) for the period | 9904 | €72,919 | €47,504 | -€25,415 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,919 | €47,504 | -€25,415 | -34.9% |
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 5 October 2026 via checked.be.