W & A: 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.
W & A
Largest movements
- Cash +€66,956
up €66,956 (+27.6%), from €242,757 to €309,714
mainly Net result for the year (+€54,449) and Depreciation (+€23,796)
- Tangible fixed assets -€23,796
down €23,796 (-81.3%), from €29,267 to €5,471
- Stocks and contracts -€9,479
down €9,479 (-67.7%), from €14,000 to €4,521
- Receivables within one year -€8,156
down €8,156 (-20.5%), from €39,748 to €31,592
of which Trade receivables: -€9,901
- Reserves +€54,449
up €54,449 (+21.7%), from €250,798 to €305,246
of which Distributable reserves: +€54,449
- Current portion of long-term debt -€20,353
down €20,353 (-100.0%), from €20,353 to €0
- Tax, wage and social debts -€12,868
down €12,868 (-58.6%), from €21,948 to €9,080
of which Taxes: -€12,268
- Trade debts +€5,713
up €5,713 (+293.3%), from €1,948 to €7,661
- Gross operating margin -€23,720
down €23,720 (-19.2%), from €123,732 to €100,012
- Depreciation -€8,313
down €8,313 (-25.9%), from €32,109 to €23,796
- Taxes -€4,116
down €4,116 (-16.4%), from €25,081 to €20,966
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 | €327,148 | €352,722 | +€25,574 | +7.8% |
| Fixed assets | 21/28 | €29,467 | €5,671 | -€23,796 | -80.8% |
| Tangible fixed assets | 22/27 | €29,267 | €5,471 | -€23,796 | -81.3% |
| Plant, machinery and equipment | 23 | €5,780 | €3,476 | -€2,304 | -39.9% |
| Furniture and vehicles | 24 | €13,381 | €1,995 | -€11,386 | -85.1% |
| Leasing and similar rights | 25 | €10,105 | €0 | -€10,105 | -100.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €297,681 | €347,051 | +€49,370 | +16.6% |
| Stocks and contracts in progress | 3 | €14,000 | €4,521 | -€9,479 | -67.7% |
| Contracts in progress | 37 | €14,000 | €4,521 | -€9,479 | -67.7% |
| Amounts receivable within one year | 40/41 | €39,748 | €31,592 | -€8,156 | -20.5% |
| Trade receivables | 40 | €38,909 | €29,008 | -€9,901 | -25.4% |
| Other amounts receivable | 41 | €838 | €2,584 | +€1,746 | +208.2% |
| Cash at bank and in hand | 54/58 | €242,757 | €309,714 | +€66,956 | +27.6% |
| Deferred charges and accrued income | 490/1 | €1,176 | €1,225 | +€48 | +4.1% |
| Total equity and liabilities | 10/49 | €327,148 | €352,722 | +€25,574 | +7.8% |
| Equity | 10/15 | €250,798 | €305,246 | +€54,449 | +21.7% |
| Reserves | 13 | €250,798 | €305,246 | +€54,449 | +21.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €248,938 | €303,386 | +€54,449 | +21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,350 | €47,476 | -€28,875 | -37.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €76,125 | €47,460 | -€28,665 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €20,353 | €0 | -€20,353 | -100.0% |
| Trade debts | 44 | €1,948 | €7,661 | +€5,713 | +293.3% |
| Suppliers | 440/4 | €1,948 | €7,661 | +€5,713 | +293.3% |
| Taxes, remuneration and social security | 45 | €21,948 | €9,080 | -€12,868 | -58.6% |
| Taxes | 450/3 | €21,348 | €9,080 | -€12,268 | -57.5% |
| Remuneration and social security | 454/9 | €600 | €0 | -€600 | -100.0% |
| Other amounts payable | 47/48 | €31,875 | €30,719 | -€1,157 | -3.6% |
| Accrued charges and deferred income | 492/3 | €225 | €16 | -€210 | -93.1% |
| Remuneration, social security and pensions | 62 | €670 | €718 | +€48 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,109 | €23,796 | -€8,313 | -25.9% |
| Other operating charges | 640/8 | €2,687 | €2,469 | -€219 | -8.1% |
| Gross operating margin | 9900 | €123,732 | €100,012 | -€23,720 | -19.2% |
| Operating profit (loss) | 9901 | €88,266 | €73,029 | -€15,237 | -17.3% |
| Financial income | 75/76B | €2,868 | €2,714 | -€154 | -5.4% |
| Recurring financial income | 75 | €2,868 | €2,714 | -€154 | -5.4% |
| Financial charges | 65/66B | €909 | €328 | -€581 | -63.9% |
| Recurring financial charges | 65 | €909 | €328 | -€581 | -63.9% |
| Profit (loss) for the period before taxes | 9903 | €90,225 | €75,415 | -€14,811 | -16.4% |
| Income taxes | 67/77 | €25,081 | €20,966 | -€4,116 | -16.4% |
| Profit (loss) for the period | 9904 | €65,144 | €54,449 | -€10,695 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,144 | €54,449 | -€10,695 | -16.4% |
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 8 October 2026 via checked.be.