Yellow Circle: 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.
Yellow Circle
Largest movements
- Receivables within one year +€175,810
up €175,810 (+150%), from €117,280 to €293,090
of which Trade receivables: +€178,156
- Cash +€21,960
up €21,960 (+40.0%), from €54,885 to €76,845
mainly Other debts (+€200,000) and Accrued charges and deferred income (+€7,521)
- Deferred charges and accrued income +€5,132
new in 2025: €5,132
- Other debts +€200,000
up €200,000 (+200%), from €100,000 to €300,000
- Trade debts -€11,666
down €11,666 (-20.6%), from €56,504 to €44,838
- Accrued charges and deferred income +€7,521
up €7,521 (+607%), from €1,239 to €8,760
- Profit (loss) carried forward +€5,088
up €5,088, from -€5,088 to €0
- Gross operating margin +€12,071
up €12,071 (+280%), from €4,312 to €16,384
- Financial charges +€7,525
up €7,525 (+585%), from €1,287 to €8,812
- Other operating charges -€875
down €875 (-62.5%), from €1,401 to €525
- Taxes +€534
new in 2025: €534
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 | €172,165 | €375,066 | +€202,902 | +118% |
| Current assets | 29/58 | €172,165 | €375,066 | +€202,902 | +118% |
| Amounts receivable within one year | 40/41 | €117,280 | €293,090 | +€175,810 | +150% |
| Trade receivables | 40 | €107,500 | €285,656 | +€178,156 | +166% |
| Other amounts receivable | 41 | €9,780 | €7,434 | -€2,346 | -24.0% |
| Cash at bank and in hand | 54/58 | €54,885 | €76,845 | +€21,960 | +40.0% |
| Deferred charges and accrued income | 490/1 | - | €5,132 | +€5,132 | |
| Total equity and liabilities | 10/49 | €172,165 | €375,066 | +€202,902 | +118% |
| Equity | 10/15 | €14,422 | €20,935 | +€6,513 | +45.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €960 | €2,385 | +€1,424 | +148% |
| Distributable reserves | 133 | €960 | €2,385 | +€1,424 | +148% |
| Profit (loss) carried forward | 14 | -€5,088 | €0 | +€5,088 | |
| Amounts payable | 17/49 | €157,743 | €354,132 | +€196,389 | +124% |
| Amounts payable within one year | 42/48 | €156,504 | €345,371 | +€188,868 | +121% |
| Trade debts | 44 | €56,504 | €44,838 | -€11,666 | -20.6% |
| Suppliers | 440/4 | €56,504 | €44,838 | -€11,666 | -20.6% |
| Taxes, remuneration and social security | 45 | - | €534 | +€534 | |
| Taxes | 450/3 | - | €534 | +€534 | |
| Other amounts payable | 47/48 | €100,000 | €300,000 | +€200,000 | +200% |
| Accrued charges and deferred income | 492/3 | €1,239 | €8,760 | +€7,521 | +607% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103 | €0 | -€103 | -100% |
| Other operating charges | 640/8 | €1,401 | €525 | -€875 | -62.5% |
| Gross operating margin | 9900 | €4,312 | €16,384 | +€12,071 | +280% |
| Operating profit (loss) | 9901 | €2,809 | €15,858 | +€13,049 | +465% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,287 | €8,812 | +€7,525 | +585% |
| Recurring financial charges | 65 | €1,287 | €8,812 | +€7,525 | +585% |
| Profit (loss) for the period before taxes | 9903 | €1,522 | €7,046 | +€5,524 | +363% |
| Income taxes | 67/77 | - | €534 | +€534 | |
| Profit (loss) for the period | 9904 | €1,522 | €6,513 | +€4,991 | +328% |
| Profit (loss) for the period to be appropriated | 9905 | €1,522 | €6,513 | +€4,991 | +328% |
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.