W.O.M.: 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.
W.O.M.
Largest movements
- Tangible fixed assets +€556,240
up €556,240 (+46.4%), from €1.2m to €1.8m
of which Land and buildings: +€556,551
- Cash -€147,648
down €147,648 (-75.3%), from €196,162 to €48,515
mainly Investment in fixed assets (net) (-€619,483) and Contributions, distributions and other (-€150,000)
- Receivables within one year +€143,163
up €143,163 (+64.5%), from €221,893 to €365,056
of which Other amounts receivable: +€142,835
- Debts after one year +€425,689
up €425,689 (+141%), from €302,155 to €727,843
- Reserves +€86,279
up €86,279 (+3.8%), from €2.3m to €2.4m
of which Distributable reserves: +€89,279
- Gross operating margin -€46,652
down €46,652 (-55.8%), from €83,577 to €36,925
- Depreciation +€17,021
up €17,021 (+36.8%), from €46,222 to €63,243
- Financial charges +€3,133
up €3,133 (+14.1%), from €22,272 to €25,405
- Financial income -€1,502
down €1,502 (-0.5%), from €301,502 to €300,000
- Other operating charges +€953
up €953 (+9.4%), from €10,087 to €11,039
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 | €2,882,980 | €3,432,685 | +€549,705 | +19.1% |
| Fixed assets | 21/28 | €2,448,834 | €3,005,074 | +€556,240 | +22.7% |
| Tangible fixed assets | 22/27 | €1,198,834 | €1,755,074 | +€556,240 | +46.4% |
| Land and buildings | 22 | €1,196,742 | €1,753,293 | +€556,551 | +46.5% |
| Plant, machinery and equipment | 23 | €2,092 | €1,781 | -€311 | -14.9% |
| Financial fixed assets | 28 | €1,250,000 | €1,250,000 | = | 0.0% |
| Current assets | 29/58 | €434,145 | €427,611 | -€6,534 | -1.5% |
| Amounts receivable within one year | 40/41 | €221,893 | €365,056 | +€143,163 | +64.5% |
| Trade receivables | 40 | €39,204 | €39,532 | +€328 | +0.8% |
| Other amounts receivable | 41 | €182,689 | €325,524 | +€142,835 | +78.2% |
| Cash at bank and in hand | 54/58 | €196,162 | €48,515 | -€147,648 | -75.3% |
| Deferred charges and accrued income | 490/1 | €16,090 | €14,040 | -€2,049 | -12.7% |
| Total equity and liabilities | 10/49 | €2,882,980 | €3,432,685 | +€549,705 | +19.1% |
| Equity | 10/15 | €2,309,804 | €2,396,083 | +€86,279 | +3.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €2,279,804 | €2,366,083 | +€86,279 | +3.8% |
| Non-distributable reserves | 130/1 | €3,000 | €0 | -€3,000 | -100% |
| Reserves not available under the articles | 1311 | €3,000 | €0 | -€3,000 | -100% |
| Distributable reserves | 133 | €2,276,804 | €2,366,083 | +€89,279 | +3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €573,176 | €1,036,602 | +€463,426 | +80.9% |
| Amounts payable after more than one year | 17 | €302,155 | €727,843 | +€425,689 | +141% |
| Financial debts | 170/4 | €302,155 | €727,843 | +€425,689 | +141% |
| Amounts payable within one year | 42/48 | €271,021 | €308,759 | +€37,737 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €88,930 | €117,074 | +€28,144 | +31.6% |
| Trade debts | 44 | €14,780 | €12,992 | -€1,789 | -12.1% |
| Suppliers | 440/4 | €14,780 | €12,992 | -€1,789 | -12.1% |
| Taxes, remuneration and social security | 45 | €62,311 | €73,693 | +€11,382 | +18.3% |
| Taxes | 450/3 | €51,061 | €62,443 | +€11,382 | +22.3% |
| Remuneration and social security | 454/9 | €11,250 | €11,250 | = | 0.0% |
| Other amounts payable | 47/48 | €105,000 | €105,000 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,222 | €63,243 | +€17,021 | +36.8% |
| Other operating charges | 640/8 | €10,087 | €11,039 | +€953 | +9.4% |
| Gross operating margin | 9900 | €83,577 | €36,925 | -€46,652 | -55.8% |
| Operating profit (loss) | 9901 | €27,269 | -€37,358 | -€64,626 | |
| Financial income | 75/76B | €301,502 | €300,000 | -€1,502 | -0.5% |
| Recurring financial income | 75 | €301,502 | €300,000 | -€1,502 | -0.5% |
| Financial charges | 65/66B | €22,272 | €25,405 | +€3,133 | +14.1% |
| Recurring financial charges | 65 | €22,272 | €25,405 | +€3,133 | +14.1% |
| Profit (loss) for the period before taxes | 9903 | €306,498 | €237,237 | -€69,261 | -22.6% |
| Income taxes | 67/77 | €1,012 | €958 | -€54 | -5.3% |
| Profit (loss) for the period | 9904 | €305,487 | €236,279 | -€69,207 | -22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €305,487 | €236,279 | -€69,207 | -22.7% |
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.