Wedges: what changed
Two fiscal 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.
Wedges
Largest movements
- Receivables within one year +€204,098
up €204,098 (+309.2%), from €66,000 to €270,098
of which Other amounts receivable: +€183,528
- Cash -€140,890
down €140,890 (-84.0%), from €167,688 to €26,797
mainly Receivables within one year (-€204,098) and Deferred charges and accrued income (-€14,943)
- Deferred charges and accrued income +€14,943
up €14,943 (+1265.3%), from €1,181 to €16,124
- Reserves +€47,866
up €47,866 (+33.2%), from €143,971 to €191,838
- Provisions +€33,000
new in 2025: €33,000
- Tax, wage and social debts +€16,530
up €16,530 (+132.6%), from €12,470 to €29,000
- Other debts -€12,425
no longer reported in 2025 (was €12,425)
- Debts after one year -€7,296
down €7,296 (-79.8%), from €9,137 to €1,841
- Financial income -€115,500
down €115,500 (-77.8%), from €148,500 to €33,000
- Provisions +€33,000
new in 2025: €33,000
- Gross operating margin +€6,615
up €6,615 (+8.6%), from €76,529 to €83,145
- Taxes +€1,271
up €1,271 (+4.9%), from €25,882 to €27,153
- Other operating charges +€1,180
up €1,180 (+49.1%), from €2,402 to €3,583
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.
Cash bridge derived
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 | €332,570 | €409,168 | +€76,599 | +23.0% |
| Fixed assets | 21/28 | €97,701 | €96,149 | -€1,552 | -1.6% |
| Tangible fixed assets | 22/27 | €4,701 | €3,149 | -€1,552 | -33.0% |
| Plant, machinery and equipment | 23 | €2,328 | €2,037 | -€291 | -12.5% |
| Furniture and vehicles | 24 | €2,373 | €1,112 | -€1,261 | -53.2% |
| Financial fixed assets | 28 | €93,000 | €93,000 | = | 0.0% |
| Current assets | 29/58 | €234,869 | €313,020 | +€78,151 | +33.3% |
| Amounts receivable within one year | 40/41 | €66,000 | €270,098 | +€204,098 | +309.2% |
| Trade receivables | 40 | - | €20,570 | +€20,570 | |
| Other amounts receivable | 41 | €66,000 | €249,528 | +€183,528 | +278.1% |
| Cash at bank and in hand | 54/58 | €167,688 | €26,797 | -€140,890 | -84.0% |
| Deferred charges and accrued income | 490/1 | €1,181 | €16,124 | +€14,943 | +1265.3% |
| Total equity and liabilities | 10/49 | €332,570 | €409,168 | +€76,599 | +23.0% |
| Equity | 10/15 | €289,680 | €337,546 | +€47,866 | +16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €143,971 | €191,838 | +€47,866 | +33.2% |
| Distributable reserves | 133 | €143,971 | €191,838 | +€47,866 | +33.2% |
| Profit (loss) carried forward | 14 | €139,508 | €139,508 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €33,000 | +€33,000 | |
| Provisions for liabilities and charges | 160/5 | - | €33,000 | +€33,000 | |
| Other liabilities and charges | 164/5 | - | €33,000 | +€33,000 | |
| Amounts payable | 17/49 | €42,890 | €38,622 | -€4,268 | -10.0% |
| Amounts payable after more than one year | 17 | €9,137 | €1,841 | -€7,296 | -79.8% |
| Financial debts | 170/4 | €9,137 | €1,841 | -€7,296 | -79.8% |
| Amounts payable within one year | 42/48 | €33,753 | €36,781 | +€3,028 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €7,186 | €7,296 | +€110 | +1.5% |
| Trade debts | 44 | €1,672 | €485 | -€1,187 | -71.0% |
| Suppliers | 440/4 | €1,672 | €485 | -€1,187 | -71.0% |
| Taxes, remuneration and social security | 45 | €12,470 | €29,000 | +€16,530 | +132.6% |
| Taxes | 450/3 | €12,470 | €29,000 | +€16,530 | +132.6% |
| Other amounts payable | 47/48 | €12,425 | - | -€12,425 | |
| Remuneration, social security and pensions | 62 | €3,332 | €2,578 | -€754 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,501 | €1,552 | +€51 | +3.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €33,000 | +€33,000 | |
| Other operating charges | 640/8 | €2,402 | €3,583 | +€1,180 | +49.1% |
| Gross operating margin | 9900 | €76,529 | €83,145 | +€6,615 | +8.6% |
| Operating profit (loss) | 9901 | €69,294 | €42,431 | -€26,862 | -38.8% |
| Financial income | 75/76B | €148,500 | €33,000 | -€115,500 | -77.8% |
| Recurring financial income | 75 | €148,500 | €33,000 | -€115,500 | -77.8% |
| Financial charges | 65/66B | €527 | €412 | -€115 | -21.8% |
| Recurring financial charges | 65 | €527 | €412 | -€115 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €217,267 | €75,019 | -€142,247 | -65.5% |
| Income taxes | 67/77 | €25,882 | €27,153 | +€1,271 | +4.9% |
| Profit (loss) for the period | 9904 | €191,385 | €47,866 | -€143,519 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €191,385 | €47,866 | -€143,519 | -75.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.