WATCH THE BIRD: 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.
WATCH THE BIRD
Largest movements
- Cash -€8,433
down €8,433 (-93.4%), from €9,028 to €595
mainly Tax, wage and social debts (-€4,256) and Receivables within one year (-€3,346)
- Receivables within one year +€3,346
up €3,346 (+35.5%), from €9,436 to €12,782
of which Other amounts receivable: +€2,223
- Intangible fixed assets +€1,087
new in 2025: €1,087
- Tangible fixed assets -€261
down €261 (-3.8%), from €6,916 to €6,654
of which Plant, machinery and equipment: -€1,400
- Tax, wage and social debts -€4,256
down €4,256 (-72.1%), from €5,900 to €1,644
of which Taxes: -€2,759
- Reserves -€3,105
down €3,105 (-27.2%), from €11,404 to €8,299
- Trade debts +€2,987
up €2,987 (+833%), from €359 to €3,345
- Gross operating margin -€15,704
down €15,704 (-98.1%), from €16,015 to €311
- Taxes -€3,776
down €3,776 (-82.7%), from €4,563 to €787
- Depreciation +€1,751
up €1,751 (+2,075%), from €84 to €1,835
- Other operating charges +€728
new in 2025: €728
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 | €25,379 | €21,119 | -€4,261 | -16.8% |
| Fixed assets | 21/28 | €6,916 | €7,741 | +€826 | +11.9% |
| Intangible fixed assets | 21 | - | €1,087 | +€1,087 | |
| Tangible fixed assets | 22/27 | €6,916 | €6,654 | -€261 | -3.8% |
| Plant, machinery and equipment | 23 | €6,916 | €5,516 | -€1,400 | -20.2% |
| Other tangible fixed assets | 26 | - | €1,139 | +€1,139 | |
| Current assets | 29/58 | €18,464 | €13,377 | -€5,086 | -27.5% |
| Amounts receivable within one year | 40/41 | €9,436 | €12,782 | +€3,346 | +35.5% |
| Trade receivables | 40 | €9,436 | €10,559 | +€1,124 | +11.9% |
| Other amounts receivable | 41 | - | €2,223 | +€2,223 | |
| Cash at bank and in hand | 54/58 | €9,028 | €595 | -€8,433 | -93.4% |
| Total equity and liabilities | 10/49 | €25,379 | €21,119 | -€4,261 | -16.8% |
| Equity | 10/15 | €15,404 | €12,299 | -€3,105 | -20.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €11,404 | €8,299 | -€3,105 | -27.2% |
| Distributable reserves | 133 | €11,404 | €8,299 | -€3,105 | -27.2% |
| Amounts payable | 17/49 | €9,976 | €8,820 | -€1,156 | -11.6% |
| Amounts payable within one year | 42/48 | €9,976 | €8,820 | -€1,156 | -11.6% |
| Trade debts | 44 | €359 | €3,345 | +€2,987 | +833% |
| Suppliers | 440/4 | €359 | €3,345 | +€2,987 | +833% |
| Taxes, remuneration and social security | 45 | €5,900 | €1,644 | -€4,256 | -72.1% |
| Taxes | 450/3 | €4,404 | €1,644 | -€2,759 | -62.7% |
| Remuneration and social security | 454/9 | €1,496 | €0 | -€1,496 | -100% |
| Other amounts payable | 47/48 | €3,717 | €3,830 | +€113 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84 | €1,835 | +€1,751 | +2,075% |
| Other operating charges | 640/8 | - | €728 | +€728 | |
| Gross operating margin | 9900 | €16,015 | €311 | -€15,704 | -98.1% |
| Operating profit (loss) | 9901 | €15,931 | -€2,252 | -€18,183 | |
| Financial income | 75/76B | €40 | €73 | +€32 | +79.7% |
| Recurring financial income | 75 | €40 | €73 | +€32 | +79.7% |
| Financial charges | 65/66B | €4 | €138 | +€134 | +3,358% |
| Recurring financial charges | 65 | €4 | €138 | +€134 | +3,358% |
| Profit (loss) for the period before taxes | 9903 | €15,967 | -€2,318 | -€18,285 | |
| Income taxes | 67/77 | €4,563 | €787 | -€3,776 | -82.7% |
| Profit (loss) for the period | 9904 | €11,404 | -€3,105 | -€14,509 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,404 | -€3,105 | -€14,509 |
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 28 October 2026 via checked.be.