W3: 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.
W3
Largest movements
- Cash -€99,654
down €99,654 (-44.7%), from €223,005 to €123,351
mainly Contributions, distributions and other (-€92,898) and Other debts (-€73,128)
- Tangible fixed assets -€15,931
down €15,931 (-3.1%), from €520,483 to €504,553
- Current investments +€10,181
up €10,181 (+5.4%), from €188,933 to €199,114
- Other debts -€73,128
down €73,128 (-42.5%), from €172,193 to €99,066
- Debts after one year -€47,494
down €47,494 (-100%), from €47,494 to €0
- Reserves +€29,701
up €29,701 (+4.7%), from €630,678 to €660,379
- Tax, wage and social debts -€14,481
down €14,481 (-34.3%), from €42,217 to €27,737
of which Taxes: -€10,910
- Gross operating margin -€60,173
down €60,173 (-23.8%), from €253,217 to €193,045
- Taxes -€17,337
down €17,337 (-25.4%), from €68,165 to €50,828
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 | €957,352 | €851,095 | -€106,257 | -11.1% |
| Fixed assets | 21/28 | €520,483 | €504,553 | -€15,931 | -3.1% |
| Tangible fixed assets | 22/27 | €520,483 | €504,553 | -€15,931 | -3.1% |
| Land and buildings | 22 | €520,483 | €504,553 | -€15,931 | -3.1% |
| Current assets | 29/58 | €436,869 | €346,542 | -€90,327 | -20.7% |
| Amounts receivable within one year | 40/41 | €23,654 | €23,521 | -€133 | -0.6% |
| Trade receivables | 40 | €23,654 | €23,521 | -€133 | -0.6% |
| Current investments | 50/53 | €188,933 | €199,114 | +€10,181 | +5.4% |
| Cash at bank and in hand | 54/58 | €223,005 | €123,351 | -€99,654 | -44.7% |
| Deferred charges and accrued income | 490/1 | €1,277 | €556 | -€720 | -56.4% |
| Total equity and liabilities | 10/49 | €957,352 | €851,095 | -€106,257 | -11.1% |
| Equity | 10/15 | €636,878 | €666,579 | +€29,701 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €630,678 | €660,379 | +€29,701 | +4.7% |
| Distributable reserves | 133 | €630,678 | €660,379 | +€29,701 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €320,474 | €184,516 | -€135,959 | -42.4% |
| Amounts payable after more than one year | 17 | €47,494 | €0 | -€47,494 | -100% |
| Financial debts | 170/4 | €47,494 | €0 | -€47,494 | -100% |
| Amounts payable within one year | 42/48 | €272,980 | €184,516 | -€88,465 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €51,054 | €47,494 | -€3,560 | -7.0% |
| Trade debts | 44 | €7,516 | €10,219 | +€2,703 | +36.0% |
| Suppliers | 440/4 | €7,516 | €10,219 | +€2,703 | +36.0% |
| Taxes, remuneration and social security | 45 | €42,217 | €27,737 | -€14,481 | -34.3% |
| Taxes | 450/3 | €38,647 | €27,737 | -€10,910 | -28.2% |
| Remuneration and social security | 454/9 | €3,571 | €0 | -€3,571 | -100% |
| Other amounts payable | 47/48 | €172,193 | €99,066 | -€73,128 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,032 | €15,931 | -€1,102 | -6.5% |
| Other operating charges | 640/8 | €5,350 | €4,286 | -€1,064 | -19.9% |
| Gross operating margin | 9900 | €253,217 | €193,045 | -€60,173 | -23.8% |
| Operating profit (loss) | 9901 | €230,835 | €172,828 | -€58,007 | -25.1% |
| Financial income | 75/76B | €2,326 | €3,158 | +€832 | +35.8% |
| Recurring financial income | 75 | €2,326 | €3,158 | +€832 | +35.8% |
| Financial charges | 65/66B | €3,108 | €2,560 | -€548 | -17.6% |
| Recurring financial charges | 65 | €3,108 | €2,560 | -€548 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €230,053 | €173,427 | -€56,626 | -24.6% |
| Income taxes | 67/77 | €68,165 | €50,828 | -€17,337 | -25.4% |
| Profit (loss) for the period | 9904 | €161,888 | €122,599 | -€39,289 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €161,888 | €122,599 | -€39,289 | -24.3% |
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 25 October 2026 via checked.be.