T & C: 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.
What changed
T & C
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€828
2024 · €9,023-€8,195
Equity
€1.0m
2024 · €1.0m+€828
Cash
€803
2024 · €7,708-€6,905
Balance sheet total
€1.4m
2024 · €1.6m-€184,367
Largest movements
Assets
- Financial fixed assets -€112,775
down €112,775 (-50.1%), from €225,275 to €112,500
- Tangible fixed assets -€67,861
down €67,861 (-5.2%), from €1.3m to €1.2m
of which Land and buildings: -€53,701
Equity and liabilities
- Other debts -€165,732
down €165,732 (-36.7%), from €451,218 to €285,487
- Current portion of long-term debt -€25,223
down €25,223 (-91.5%), from €27,576 to €2,353
Income statement
- Gross operating margin -€8,066
down €8,066 (-9.4%), from €85,360 to €77,294
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.
Result 2024
€9,023
Gross operating margin
-€8,066
Depreciation
-€745
Other operating charges
-€369
Financial charges
+€591
Taxes
+€394
Result 2025
€828
raises the resultlowers the result
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.
From operations
-€88,738
Investment
+€109,409
Financing
-€27,576
Cash 2024
€7,708
From operations (derived)
-€88,738
Net result for the year
+€828
Depreciation
+€71,227
Receivables within one year
+€892
Deferred charges and accrued income
-€4,066
Provisions
-€1,759
Trade debts
+€9,688
Tax, wage and social debts
+€184
Other debts
-€165,732
Investment (derived)
+€109,409
Investment in fixed assets (net)
+€109,409
Financing
-€27,576
Debts after one year
-€2,353
Current portion of long-term debt
-€25,223
Cash 2025
€803
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,569,208 | €1,384,841 | -€184,367 | -11.7% |
| Fixed assets | 21/28 | €1,537,152 | €1,356,516 | -€180,636 | -11.8% |
| Tangible fixed assets | 22/27 | €1,311,877 | €1,244,016 | -€67,861 | -5.2% |
| Land and buildings | 22 | €1,280,161 | €1,226,460 | -€53,701 | -4.2% |
| Plant, machinery and equipment | 23 | €2,558 | €1,894 | -€664 | -26.0% |
| Furniture and vehicles | 24 | €29,157 | €15,662 | -€13,495 | -46.3% |
| Financial fixed assets | 28 | €225,275 | €112,500 | -€112,775 | -50.1% |
| Current assets | 29/58 | €32,057 | €28,325 | -€3,731 | -11.6% |
| Amounts receivable within one year | 40/41 | €18,995 | €18,103 | -€892 | -4.7% |
| Trade receivables | 40 | €18,995 | €18,094 | -€901 | -4.7% |
| Other amounts receivable | 41 | - | €9 | +€9 | |
| Cash at bank and in hand | 54/58 | €7,708 | €803 | -€6,905 | -89.6% |
| Deferred charges and accrued income | 490/1 | €5,353 | €9,419 | +€4,066 | +76.0% |
| Total equity and liabilities | 10/49 | €1,569,208 | €1,384,841 | -€184,367 | -11.7% |
| Equity | 10/15 | €1,029,808 | €1,030,637 | +€828 | +0.1% |
| Contributions | 10/11 | €680,000 | €680,000 | = | 0.0% |
| Capital | 10 | €680,000 | €680,000 | = | 0.0% |
| Issued capital | 100 | €680,000 | €680,000 | = | 0.0% |
| Reserves | 13 | €174,392 | €169,114 | -€5,278 | -3.0% |
| Non-distributable reserves | 130/1 | €68,000 | €68,000 | = | 0.0% |
| Legal reserve | 130 | €68,000 | €68,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €106,392 | €101,114 | -€5,278 | -5.0% |
| Profit (loss) carried forward | 14 | €175,416 | €181,523 | +€6,107 | +3.5% |
| Provisions and deferred taxes | 16 | €50,323 | €48,564 | -€1,759 | -3.5% |
| Deferred taxes | 168 | €50,323 | €48,564 | -€1,759 | -3.5% |
| Amounts payable | 17/49 | €489,077 | €305,641 | -€183,436 | -37.5% |
| Amounts payable after more than one year | 17 | €2,353 | €0 | -€2,353 | -100% |
| Financial debts | 170/4 | €2,353 | €0 | -€2,353 | -100% |
| Amounts payable within one year | 42/48 | €486,724 | €305,641 | -€181,083 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €27,576 | €2,353 | -€25,223 | -91.5% |
| Trade debts | 44 | €3,329 | €13,017 | +€9,688 | +291% |
| Suppliers | 440/4 | €3,329 | €13,017 | +€9,688 | +291% |
| Taxes, remuneration and social security | 45 | €4,600 | €4,784 | +€184 | +4.0% |
| Taxes | 450/3 | €4,600 | €4,784 | +€184 | +4.0% |
| Other amounts payable | 47/48 | €451,218 | €285,487 | -€165,732 | -36.7% |
| Non-recurring operating income | 76A | €7,240 | €0 | -€7,240 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,482 | €71,227 | +€745 | +1.1% |
| Other operating charges | 640/8 | €5,720 | €6,089 | +€369 | +6.5% |
| Gross operating margin | 9900 | €85,360 | €77,294 | -€8,066 | -9.4% |
| Operating profit (loss) | 9901 | €9,158 | -€22 | -€9,180 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,300 | €709 | -€591 | -45.5% |
| Recurring financial charges | 65 | €1,300 | €709 | -€591 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €7,857 | -€731 | -€8,588 | |
| Transfer from deferred taxes | 780 | €1,759 | €1,759 | = | 0.0% |
| Income taxes | 67/77 | €594 | €200 | -€394 | -66.3% |
| Profit (loss) for the period | 9904 | €9,023 | €828 | -€8,195 | -90.8% |
| Transfer from tax-exempt reserves | 789 | €5,278 | €5,278 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,302 | €6,107 | -€8,195 | -57.3% |
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 23 October 2026 via checked.be.