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.
Matthias Lommers
Largest movements
- Cash +€141,459
up €141,459 (+84.4%), from €167,687 to €309,145
mainly Net result for the year (+€86,287) and Receivables within one year (+€80,392)
- Receivables within one year -€80,392
no longer reported in 2025 (was €80,392)
- Tangible fixed assets +€6,950
up €6,950 (+140.2%), from €4,957 to €11,907
of which Furniture and vehicles: +€7,750
- Deferred charges and accrued income +€5,148
new in 2025: €5,148
- Reserves +€85,454
up €85,454 (+50.9%), from €167,875 to €253,329
- Tax, wage and social debts -€15,374
down €15,374 (-23.8%), from €64,483 to €49,109
- Gross operating margin -€54,928
down €54,928 (-30.6%), from €179,409 to €124,481
- Taxes -€17,630
down €17,630 (-33.7%), from €52,340 to €34,710
- Financial income +€2,241
up €2,241 (+6221.2%), from €36 to €2,278
- Depreciation +€1,988
up €1,988 (+217.6%), from €914 to €2,902
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 | €253,036 | €326,200 | +€73,164 | +28.9% |
| Fixed assets | 21/28 | €4,957 | €11,907 | +€6,950 | +140.2% |
| Tangible fixed assets | 22/27 | €4,957 | €11,907 | +€6,950 | +140.2% |
| Furniture and vehicles | 24 | €2,394 | €10,144 | +€7,750 | +323.7% |
| Other tangible fixed assets | 26 | €2,562 | €1,762 | -€800 | -31.2% |
| Current assets | 29/58 | €248,079 | €314,293 | +€66,214 | +26.7% |
| Amounts receivable within one year | 40/41 | €80,392 | - | -€80,392 | |
| Trade receivables | 40 | €80,392 | - | -€80,392 | |
| Cash at bank and in hand | 54/58 | €167,687 | €309,145 | +€141,459 | +84.4% |
| Deferred charges and accrued income | 490/1 | - | €5,148 | +€5,148 | |
| Total equity and liabilities | 10/49 | €253,036 | €326,200 | +€73,164 | +28.9% |
| Equity | 10/15 | €182,875 | €268,329 | +€85,454 | +46.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €167,875 | €253,329 | +€85,454 | +50.9% |
| Distributable reserves | 133 | €167,875 | €253,329 | +€85,454 | +50.9% |
| Amounts payable | 17/49 | €70,161 | €57,871 | -€12,290 | -17.5% |
| Amounts payable within one year | 42/48 | €70,161 | €55,171 | -€14,990 | -21.4% |
| Trade debts | 44 | €2,443 | €177 | -€2,266 | -92.8% |
| Suppliers | 440/4 | €2,443 | €177 | -€2,266 | -92.8% |
| Taxes, remuneration and social security | 45 | €64,483 | €49,109 | -€15,374 | -23.8% |
| Taxes | 450/3 | €64,483 | €49,109 | -€15,374 | -23.8% |
| Other amounts payable | 47/48 | €3,235 | €5,885 | +€2,650 | +81.9% |
| Accrued charges and deferred income | 492/3 | - | €2,700 | +€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €914 | €2,902 | +€1,988 | +217.6% |
| Gross operating margin | 9900 | €179,409 | €124,481 | -€54,928 | -30.6% |
| Operating profit (loss) | 9901 | €178,495 | €121,579 | -€56,917 | -31.9% |
| Financial income | 75/76B | €36 | €2,278 | +€2,241 | +6221.2% |
| Recurring financial income | 75 | €36 | €2,278 | +€2,241 | +6221.2% |
| Financial charges | 65/66B | €2,231 | €2,859 | +€628 | +28.1% |
| Recurring financial charges | 65 | €2,231 | €2,859 | +€628 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €176,300 | €120,997 | -€55,303 | -31.4% |
| Income taxes | 67/77 | €52,340 | €34,710 | -€17,630 | -33.7% |
| Profit (loss) for the period | 9904 | €123,960 | €86,287 | -€37,673 | -30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €123,960 | €86,287 | -€37,673 | -30.4% |
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.