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.
Vanessa Moretti
Largest movements
- Cash +€35,134
up €35,134 (+52.0%), from €67,630 to €102,764
mainly Other debts (+€55,520) and Net result for the year (+€44,351)
- Receivables within one year -€20,193
down €20,193 (-99.6%), from €20,271 to €78
of which Trade receivables: -€12,100
- Current investments +€12,380
up €12,380 (+12.5%), from €98,661 to €111,041
- Tangible fixed assets -€11,921
down €11,921 (-24.7%), from €48,302 to €36,381
of which Furniture and vehicles: -€7,966
- Other debts +€55,520
up €55,520 (+158.1%), from €35,115 to €90,636
- Reserves -€42,412
down €42,412 (-23.0%), from €184,505 to €142,093
- Tax, wage and social debts +€3,952
up €3,952 (+55976.3%), from €7 to €3,959
- Gross operating margin -€3,814
down €3,814 (-4.8%), from €79,004 to €75,190
- Taxes -€1,599
down €1,599 (-8.0%), from €19,884 to €18,285
- Depreciation +€1,461
up €1,461 (+13.2%), from €11,059 to €12,521
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 | €234,864 | €250,264 | +€15,400 | +6.6% |
| Fixed assets | 21/28 | €48,302 | €36,381 | -€11,921 | -24.7% |
| Tangible fixed assets | 22/27 | €48,302 | €36,381 | -€11,921 | -24.7% |
| Land and buildings | 22 | €12,262 | €9,578 | -€2,684 | -21.9% |
| Plant, machinery and equipment | 23 | €3,699 | €2,428 | -€1,271 | -34.4% |
| Furniture and vehicles | 24 | €32,341 | €24,375 | -€7,966 | -24.6% |
| Current assets | 29/58 | €186,562 | €213,883 | +€27,321 | +14.6% |
| Amounts receivable within one year | 40/41 | €20,271 | €78 | -€20,193 | -99.6% |
| Trade receivables | 40 | €12,100 | - | -€12,100 | |
| Other amounts receivable | 41 | €8,171 | €78 | -€8,093 | -99.0% |
| Current investments | 50/53 | €98,661 | €111,041 | +€12,380 | +12.5% |
| Cash at bank and in hand | 54/58 | €67,630 | €102,764 | +€35,134 | +52.0% |
| Total equity and liabilities | 10/49 | €234,864 | €250,264 | +€15,400 | +6.6% |
| Equity | 10/15 | €190,705 | €148,293 | -€42,412 | -22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,505 | €142,093 | -€42,412 | -23.0% |
| Distributable reserves | 133 | €184,505 | €142,093 | -€42,412 | -23.0% |
| Amounts payable | 17/49 | €44,159 | €101,971 | +€57,811 | +130.9% |
| Amounts payable within one year | 42/48 | €44,159 | €101,971 | +€57,811 | +130.9% |
| Trade debts | 44 | €9,037 | €7,376 | -€1,661 | -18.4% |
| Suppliers | 440/4 | €9,037 | €7,376 | -€1,661 | -18.4% |
| Taxes, remuneration and social security | 45 | €7 | €3,959 | +€3,952 | +55976.3% |
| Taxes | 450/3 | €7 | €3,959 | +€3,952 | +55976.3% |
| Other amounts payable | 47/48 | €35,115 | €90,636 | +€55,520 | +158.1% |
| Remuneration, social security and pensions | 62 | - | €299 | +€299 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,059 | €12,521 | +€1,461 | +13.2% |
| Other operating charges | 640/8 | €194 | €337 | +€143 | +73.9% |
| Gross operating margin | 9900 | €79,004 | €75,190 | -€3,814 | -4.8% |
| Operating profit (loss) | 9901 | €67,751 | €62,033 | -€5,718 | -8.4% |
| Financial income | 75/76B | €973 | €673 | -€300 | -30.8% |
| Recurring financial income | 75 | €973 | €673 | -€300 | -30.8% |
| Financial charges | 65/66B | €159 | €70 | -€89 | -55.9% |
| Recurring financial charges | 65 | €159 | €70 | -€89 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €68,565 | €62,636 | -€5,929 | -8.6% |
| Income taxes | 67/77 | €19,884 | €18,285 | -€1,599 | -8.0% |
| Profit (loss) for the period | 9904 | €48,681 | €44,351 | -€4,330 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,681 | €44,351 | -€4,330 | -8.9% |
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 26 September 2026 via checked.be.