WEB@VANTAGE: 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.
WEB@VANTAGE
Largest movements
- Cash +€202,360
up €202,360 (+99.0%), from €204,475 to €406,835
mainly Other debts (+€292,997) and Current investments (+€200,000)
- Current investments -€200,000
down €200,000 (-31.3%), from €640,000 to €440,000
- Tangible fixed assets -€51,044
down €51,044 (-23.9%), from €213,599 to €162,555
of which Furniture and vehicles: -€32,861
- Receivables within one year -€41,908
down €41,908 (-19.2%), from €218,760 to €176,851
of which Trade receivables: -€74,269
- Deferred charges and accrued income +€13,123
up €13,123 (+126%), from €10,384 to €23,507
- Reserves -€317,099
down €317,099 (-30.3%), from €1.0m to €729,180
of which Distributable reserves: -€317,099
- Other debts +€292,997
up €292,997, from €0 to €292,997
- Tax, wage and social debts -€37,312
down €37,312 (-23.4%), from €159,472 to €122,160
of which Remuneration and social security: -€25,443
- Trade debts -€16,956
down €16,956 (-29.1%), from €58,234 to €41,278
- Gross operating margin -€131,987
down €131,987 (-14.5%), from €910,571 to €778,584
- Taxes -€34,362
down €34,362 (-45.2%), from €76,047 to €41,686
- Staff costs -€22,502
down €22,502 (-3.9%), from €576,967 to €554,465
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 | €1,287,217 | €1,209,748 | -€77,469 | -6.0% |
| Fixed assets | 21/28 | €213,599 | €162,555 | -€51,044 | -23.9% |
| Tangible fixed assets | 22/27 | €213,599 | €162,555 | -€51,044 | -23.9% |
| Land and buildings | 22 | €44,393 | €23,668 | -€20,724 | -46.7% |
| Plant, machinery and equipment | 23 | €2,775 | €6,031 | +€3,256 | +117% |
| Furniture and vehicles | 24 | €163,572 | €130,711 | -€32,861 | -20.1% |
| Other tangible fixed assets | 26 | €2,859 | €2,144 | -€715 | -25.0% |
| Current assets | 29/58 | €1,073,618 | €1,047,193 | -€26,426 | -2.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €218,760 | €176,851 | -€41,908 | -19.2% |
| Trade receivables | 40 | €210,743 | €136,475 | -€74,269 | -35.2% |
| Other amounts receivable | 41 | €8,016 | €40,377 | +€32,361 | +404% |
| Current investments | 50/53 | €640,000 | €440,000 | -€200,000 | -31.3% |
| Cash at bank and in hand | 54/58 | €204,475 | €406,835 | +€202,360 | +99.0% |
| Deferred charges and accrued income | 490/1 | €10,384 | €23,507 | +€13,123 | +126% |
| Total equity and liabilities | 10/49 | €1,287,217 | €1,209,748 | -€77,469 | -6.0% |
| Equity | 10/15 | €1,064,879 | €747,780 | -€317,099 | -29.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,046,279 | €729,180 | -€317,099 | -30.3% |
| Non-distributable reserves | 130/1 | €441,860 | €441,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €440,000 | €440,000 | = | 0.0% |
| Distributable reserves | 133 | €604,419 | €287,320 | -€317,099 | -52.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €222,338 | €461,968 | +€239,630 | +108% |
| Amounts payable within one year | 42/48 | €221,003 | €457,831 | +€236,828 | +107% |
| Financial debts | 43 | €3,297 | €1,396 | -€1,901 | -57.6% |
| Credit institutions | 430/8 | €3,297 | €1,396 | -€1,901 | -57.6% |
| Trade debts | 44 | €58,234 | €41,278 | -€16,956 | -29.1% |
| Suppliers | 440/4 | €58,234 | €41,278 | -€16,956 | -29.1% |
| Taxes, remuneration and social security | 45 | €159,472 | €122,160 | -€37,312 | -23.4% |
| Taxes | 450/3 | €58,369 | €46,500 | -€11,870 | -20.3% |
| Remuneration and social security | 454/9 | €101,102 | €75,660 | -€25,443 | -25.2% |
| Other amounts payable | 47/48 | €0 | €292,997 | +€292,997 | |
| Accrued charges and deferred income | 492/3 | €1,336 | €4,137 | +€2,801 | +210% |
| Non-recurring operating income | 76A | €37,013 | €0 | -€37,013 | -100% |
| Remuneration, social security and pensions | 62 | €576,967 | €554,465 | -€22,502 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,070 | €78,858 | +€4,788 | +6.5% |
| Other operating charges | 640/8 | €4,614 | €2,750 | -€1,864 | -40.4% |
| Non-recurring operating charges | 66A | - | €2,810 | +€2,810 | |
| Gross operating margin | 9900 | €910,571 | €778,584 | -€131,987 | -14.5% |
| Operating profit (loss) | 9901 | €254,921 | €139,702 | -€115,219 | -45.2% |
| Financial income | 75/76B | €13,099 | €6,072 | -€7,028 | -53.7% |
| Recurring financial income | 75 | €13,099 | €6,072 | -€7,028 | -53.7% |
| Financial charges | 65/66B | €2,689 | €6,078 | +€3,389 | +126% |
| Recurring financial charges | 65 | €2,689 | €6,078 | +€3,389 | +126% |
| Profit (loss) for the period before taxes | 9903 | €265,331 | €139,695 | -€125,636 | -47.4% |
| Income taxes | 67/77 | €76,047 | €41,686 | -€34,362 | -45.2% |
| Profit (loss) for the period | 9904 | €189,284 | €98,010 | -€91,274 | -48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €189,284 | €98,010 | -€91,274 | -48.2% |
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.