WILL MANAGEMENT: 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.
WILL MANAGEMENT
Largest movements
- Tangible fixed assets -€21,441
down €21,441 (-28.0%), from €76,682 to €55,241
- Cash -€18,451
down €18,451 (-27.5%), from €67,017 to €48,566
mainly Contributions, distributions and other (-€90,000) and Other debts (-€17,122)
- Receivables within one year +€9,251
up €9,251 (+60.8%), from €15,220 to €24,471
of which Trade receivables: +€9,395
- Other debts -€17,122
down €17,122 (-24.1%), from €71,005 to €53,883
- Debts after one year -€13,023
down €13,023 (-33.0%), from €39,498 to €26,475
- Gross operating margin +€14,021
up €14,021 (+11.3%), from €124,294 to €138,315
- Depreciation -€5,912
down €5,912 (-21.6%), from €27,354 to €21,441
- Taxes +€4,086
up €4,086 (+18.9%), from €21,604 to €25,690
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 | €163,562 | €131,530 | -€32,032 | -19.6% |
| Fixed assets | 21/28 | €76,682 | €55,241 | -€21,441 | -28.0% |
| Tangible fixed assets | 22/27 | €76,682 | €55,241 | -€21,441 | -28.0% |
| Furniture and vehicles | 24 | €76,682 | €55,241 | -€21,441 | -28.0% |
| Current assets | 29/58 | €86,880 | €76,289 | -€10,591 | -12.2% |
| Amounts receivable within one year | 40/41 | €15,220 | €24,471 | +€9,251 | +60.8% |
| Trade receivables | 40 | €15,075 | €24,471 | +€9,395 | +62.3% |
| Other amounts receivable | 41 | €144 | - | -€144 | |
| Cash at bank and in hand | 54/58 | €67,017 | €48,566 | -€18,451 | -27.5% |
| Deferred charges and accrued income | 490/1 | €4,644 | €3,252 | -€1,392 | -30.0% |
| Total equity and liabilities | 10/49 | €163,562 | €131,530 | -€32,032 | -19.6% |
| Equity | 10/15 | €15,461 | €14,447 | -€1,013 | -6.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,461 | €4,447 | -€1,013 | -18.6% |
| Amounts payable | 17/49 | €148,102 | €117,083 | -€31,019 | -20.9% |
| Amounts payable after more than one year | 17 | €39,498 | €26,475 | -€13,023 | -33.0% |
| Financial debts | 170/4 | €39,498 | €26,475 | -€13,023 | -33.0% |
| Amounts payable within one year | 42/48 | €108,604 | €90,608 | -€17,996 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €12,508 | €13,023 | +€514 | +4.1% |
| Trade debts | 44 | €4,787 | €3,397 | -€1,390 | -29.0% |
| Suppliers | 440/4 | €4,787 | €3,397 | -€1,390 | -29.0% |
| Taxes, remuneration and social security | 45 | €20,304 | €20,306 | +€2 | 0.0% |
| Taxes | 450/3 | €20,304 | €20,306 | +€2 | 0.0% |
| Other amounts payable | 47/48 | €71,005 | €53,883 | -€17,122 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,354 | €21,441 | -€5,912 | -21.6% |
| Other operating charges | 640/8 | €551 | €622 | +€72 | +13.0% |
| Gross operating margin | 9900 | €124,294 | €138,315 | +€14,021 | +11.3% |
| Operating profit (loss) | 9901 | €96,389 | €116,251 | +€19,862 | +20.6% |
| Financial income | 75/76B | €145 | €477 | +€332 | +228.2% |
| Recurring financial income | 75 | €145 | €477 | +€332 | +228.2% |
| Financial charges | 65/66B | €2,530 | €2,052 | -€478 | -18.9% |
| Recurring financial charges | 65 | €2,530 | €2,052 | -€478 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €94,005 | €114,676 | +€20,672 | +22.0% |
| Income taxes | 67/77 | €21,604 | €25,690 | +€4,086 | +18.9% |
| Profit (loss) for the period | 9904 | €72,401 | €88,987 | +€16,586 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,401 | €88,987 | +€16,586 | +22.9% |
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 9 October 2026 via checked.be.