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.
ALL-CAPS
Largest movements
- Current investments +€99,862
up €99,862 (+56.4%), from €177,014 to €276,876
- Receivables within one year +€25,195
up €25,195 (+228.0%), from €11,051 to €36,246
of which Other amounts receivable: +€13,800
- Deferred charges and accrued income -€16,984
down €16,984 (-82.5%), from €20,588 to €3,605
- Tangible fixed assets -€4,634
down €4,634 (-38.8%), from €11,948 to €7,314
- Cash +€3,753
up €3,753 (+9.1%), from €41,240 to €44,993
mainly Net result for the year (+€126,002) and Other debts (+€91,127)
- Other debts +€91,127
up €91,127 (+217.9%), from €41,819 to €132,945
- Tax, wage and social debts +€10,286
up €10,286 (+47.4%), from €21,693 to €31,980
- Profit (loss) carried forward +€6,002
up €6,002 (+3.1%), from €195,807 to €201,809
- Gross operating margin +€47,073
up €47,073 (+37.4%), from €125,938 to €173,011
- Taxes +€11,749
up €11,749 (+44.8%), from €26,252 to €38,002
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 | €262,241 | €369,433 | +€107,191 | +40.9% |
| Fixed assets | 21/28 | €12,348 | €7,714 | -€4,634 | -37.5% |
| Tangible fixed assets | 22/27 | €11,948 | €7,314 | -€4,634 | -38.8% |
| Furniture and vehicles | 24 | €11,948 | €7,314 | -€4,634 | -38.8% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €249,893 | €361,719 | +€111,825 | +44.7% |
| Amounts receivable within one year | 40/41 | €11,051 | €36,246 | +€25,195 | +228.0% |
| Trade receivables | 40 | €11,051 | €22,446 | +€11,395 | +103.1% |
| Other amounts receivable | 41 | - | €13,800 | +€13,800 | |
| Current investments | 50/53 | €177,014 | €276,876 | +€99,862 | +56.4% |
| Cash at bank and in hand | 54/58 | €41,240 | €44,993 | +€3,753 | +9.1% |
| Deferred charges and accrued income | 490/1 | €20,588 | €3,605 | -€16,984 | -82.5% |
| Total equity and liabilities | 10/49 | €262,241 | €369,433 | +€107,191 | +40.9% |
| Equity | 10/15 | €198,307 | €204,309 | +€6,002 | +3.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €195,807 | €201,809 | +€6,002 | +3.1% |
| Amounts payable | 17/49 | €63,934 | €165,124 | +€101,190 | +158.3% |
| Amounts payable within one year | 42/48 | €63,934 | €165,124 | +€101,190 | +158.3% |
| Trade debts | 44 | €422 | €199 | -€224 | -52.9% |
| Suppliers | 440/4 | €422 | €199 | -€224 | -52.9% |
| Taxes, remuneration and social security | 45 | €21,693 | €31,980 | +€10,286 | +47.4% |
| Taxes | 450/3 | €21,693 | €31,980 | +€10,286 | +47.4% |
| Other amounts payable | 47/48 | €41,819 | €132,945 | +€91,127 | +217.9% |
| Non-recurring operating income | 76A | €278 | - | -€278 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,989 | €4,634 | +€1,645 | +55.0% |
| Other operating charges | 640/8 | €100 | €100 | = | 0.0% |
| Non-recurring operating charges | 66A | €5,884 | - | -€5,884 | |
| Gross operating margin | 9900 | €125,938 | €173,011 | +€47,073 | +37.4% |
| Operating profit (loss) | 9901 | €116,965 | €168,277 | +€51,312 | +43.9% |
| Financial income | 75/76B | €99 | €1,000 | +€901 | +907.4% |
| Recurring financial income | 75 | €99 | €1,000 | +€901 | +907.4% |
| Financial charges | 65/66B | €5,470 | €5,273 | -€197 | -3.6% |
| Recurring financial charges | 65 | €5,470 | €5,273 | -€197 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €111,594 | €164,004 | +€52,409 | +47.0% |
| Income taxes | 67/77 | €26,252 | €38,002 | +€11,749 | +44.8% |
| Profit (loss) for the period | 9904 | €85,342 | €126,002 | +€40,660 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,342 | €126,002 | +€40,660 | +47.6% |
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 28 September 2026 via checked.be.