WARNING PRODUCTION: 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.
WARNING PRODUCTION
Largest movements
- Receivables within one year +€47,398
up €47,398 (+36.8%), from €128,649 to €176,047
- Tangible fixed assets -€14,678
down €14,678 (-7.5%), from €194,684 to €180,006
- Trade debts +€13,657
up €13,657 (+39.3%), from €34,716 to €48,373
- Reserves +€9,625
up €9,625 (+2.5%), from €382,960 to €392,585
of which Distributable reserves: +€9,625
- Gross operating margin -€1,772
down €1,772 (-4.9%), from €36,178 to €34,406
- Other operating charges +€714
up €714 (+17.1%), from €4,172 to €4,886
- Taxes +€640
up €640 (+15.0%), from €4,263 to €4,903
- Financial charges -€439
down €439 (-58.8%), from €747 to €308
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 | €926,978 | €958,915 | +€31,937 | +3.4% |
| Fixed assets | 21/28 | €195,595 | €180,917 | -€14,678 | -7.5% |
| Tangible fixed assets | 22/27 | €194,684 | €180,006 | -€14,678 | -7.5% |
| Land and buildings | 22 | €194,684 | €180,006 | -€14,678 | -7.5% |
| Financial fixed assets | 28 | €911 | €911 | = | 0.0% |
| Current assets | 29/58 | €731,383 | €777,998 | +€46,615 | +6.4% |
| Amounts receivable after more than one year | 29 | €600,000 | €600,000 | = | 0.0% |
| Other amounts receivable | 291 | €600,000 | €600,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €128,649 | €176,047 | +€47,398 | +36.8% |
| Other amounts receivable | 41 | €128,649 | €176,047 | +€47,398 | +36.8% |
| Cash at bank and in hand | 54/58 | €2,506 | €1,951 | -€555 | -22.1% |
| Deferred charges and accrued income | 490/1 | €228 | - | -€228 | |
| Total equity and liabilities | 10/49 | €926,978 | €958,915 | +€31,937 | +3.4% |
| Equity | 10/15 | €781,750 | €791,381 | +€9,631 | +1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €382,960 | €392,585 | +€9,625 | +2.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €93,250 | €93,250 | = | 0.0% |
| Distributable reserves | 133 | €287,851 | €297,476 | +€9,625 | +3.3% |
| Profit (loss) carried forward | 14 | €380,198 | €380,204 | +€6 | 0.0% |
| Provisions and deferred taxes | 16 | €55,000 | €55,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €55,000 | €55,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €55,000 | €55,000 | = | 0.0% |
| Amounts payable | 17/49 | €90,228 | €112,534 | +€22,306 | +24.7% |
| Amounts payable within one year | 42/48 | €88,528 | €110,834 | +€22,306 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €4,010 | €7,157 | +€3,147 | +78.5% |
| Financial debts | 43 | €11 | - | -€11 | |
| Credit institutions | 430/8 | €11 | - | -€11 | |
| Trade debts | 44 | €34,716 | €48,373 | +€13,657 | +39.3% |
| Suppliers | 440/4 | €34,716 | €48,373 | +€13,657 | +39.3% |
| Taxes, remuneration and social security | 45 | €10,263 | €11,037 | +€774 | +7.5% |
| Taxes | 450/3 | €10,263 | €11,037 | +€774 | +7.5% |
| Other amounts payable | 47/48 | €39,528 | €44,267 | +€4,739 | +12.0% |
| Accrued charges and deferred income | 492/3 | €1,700 | €1,700 | = | 0.0% |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,679 | €14,678 | -€1 | 0.0% |
| Other operating charges | 640/8 | €4,172 | €4,886 | +€714 | +17.1% |
| Gross operating margin | 9900 | €36,178 | €34,406 | -€1,772 | -4.9% |
| Operating profit (loss) | 9901 | €17,327 | €14,842 | -€2,485 | -14.3% |
| Financial charges | 65/66B | €747 | €308 | -€439 | -58.8% |
| Recurring financial charges | 65 | €747 | €308 | -€439 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | €16,580 | €14,534 | -€2,046 | -12.3% |
| Income taxes | 67/77 | €4,263 | €4,903 | +€640 | +15.0% |
| Profit (loss) for the period | 9904 | €12,317 | €9,631 | -€2,686 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,317 | €9,631 | -€2,686 | -21.8% |
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 14 October 2026 via checked.be.