XI: 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.
XI
Largest movements
- Cash +€126,561
up €126,561 (+118%), from €107,526 to €234,087
mainly Net result for the year (+€115,045) and Tax, wage and social debts (+€14,660)
- Receivables within one year +€4,740
up €4,740 (+48.5%), from €9,780 to €14,520
- Reserves +€115,045
up €115,045 (+114%), from €100,629 to €215,674
- Tax, wage and social debts +€14,660
up €14,660 (+68.4%), from €21,420 to €36,080
- Gross operating margin +€52,400
up €52,400 (+64.5%), from €81,299 to €133,699
- Taxes +€12,389
up €12,389 (+75.4%), from €16,422 to €28,810
- Financial income -€3,002
down €3,002 (-20.0%), from €15,002 to €12,000
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 | €127,158 | €256,780 | +€129,622 | +102% |
| Fixed assets | 21/28 | €9,852 | €8,173 | -€1,679 | -17.0% |
| Tangible fixed assets | 22/27 | €7,357 | €5,678 | -€1,679 | -22.8% |
| Plant, machinery and equipment | 23 | €7,357 | €5,678 | -€1,679 | -22.8% |
| Financial fixed assets | 28 | €2,495 | €2,495 | = | 0.0% |
| Current assets | 29/58 | €117,306 | €248,607 | +€131,301 | +112% |
| Amounts receivable within one year | 40/41 | €9,780 | €14,520 | +€4,740 | +48.5% |
| Trade receivables | 40 | €9,780 | €14,520 | +€4,740 | +48.5% |
| Cash at bank and in hand | 54/58 | €107,526 | €234,087 | +€126,561 | +118% |
| Total equity and liabilities | 10/49 | €127,158 | €256,780 | +€129,622 | +102% |
| Equity | 10/15 | €105,629 | €220,674 | +€115,045 | +109% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €100,629 | €215,674 | +€115,045 | +114% |
| Distributable reserves | 133 | €100,629 | €215,674 | +€115,045 | +114% |
| Amounts payable | 17/49 | €21,529 | €36,107 | +€14,577 | +67.7% |
| Amounts payable within one year | 42/48 | €21,529 | €36,107 | +€14,577 | +67.7% |
| Trade debts | 44 | €27 | €27 | -€0 | -1.2% |
| Suppliers | 440/4 | €27 | €27 | -€0 | -1.2% |
| Taxes, remuneration and social security | 45 | €21,420 | €36,080 | +€14,660 | +68.4% |
| Taxes | 450/3 | €21,420 | €36,080 | +€14,660 | +68.4% |
| Other amounts payable | 47/48 | €83 | €0 | -€83 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,036 | €1,679 | +€643 | +62.0% |
| Other operating charges | 640/8 | €115 | €126 | +€11 | +9.6% |
| Gross operating margin | 9900 | €81,299 | €133,699 | +€52,400 | +64.5% |
| Operating profit (loss) | 9901 | €80,148 | €131,894 | +€51,746 | +64.6% |
| Financial income | 75/76B | €15,002 | €12,000 | -€3,002 | -20.0% |
| Recurring financial income | 75 | €15,002 | €12,000 | -€3,002 | -20.0% |
| Financial charges | 65/66B | €53 | €39 | -€14 | -26.0% |
| Recurring financial charges | 65 | €53 | €39 | -€14 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €95,097 | €143,855 | +€48,758 | +51.3% |
| Income taxes | 67/77 | €16,422 | €28,810 | +€12,389 | +75.4% |
| Profit (loss) for the period | 9904 | €78,676 | €115,045 | +€36,369 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,676 | €115,045 | +€36,369 | +46.2% |
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 31 October 2026 via checked.be.