4-FORESEE: 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.
4-FORESEE
Largest movements
- Cash -€137,447
down €137,447 (-56.3%), from €243,935 to €106,488
mainly Contributions, distributions and other (-€175,570) and Other debts (-€48,992)
- Current investments +€10,200
up €10,200 (+16.0%), from €63,587 to €73,787
- Tangible fixed assets -€6,384
down €6,384 (-17.7%), from €35,969 to €29,585
- Reserves -€83,213
down €83,213 (-58.1%), from €143,266 to €60,053
- Other debts -€48,992
down €48,992 (-21.1%), from €231,815 to €182,823
- Gross operating margin -€1,578
down €1,578 (-1.2%), from €130,456 to €128,877
- Financial income +€1,382
up €1,382 (+282%), from €490 to €1,873
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €388,433 | €257,215 | -€131,218 | -33.8% |
| Fixed assets | 21/28 | €35,969 | €29,585 | -€6,384 | -17.7% |
| Tangible fixed assets | 22/27 | €35,969 | €29,585 | -€6,384 | -17.7% |
| Plant, machinery and equipment | 23 | €2,514 | €1,883 | -€631 | -25.1% |
| Furniture and vehicles | 24 | €14,493 | €11,731 | -€2,762 | -19.1% |
| Other tangible fixed assets | 26 | €18,962 | €15,971 | -€2,991 | -15.8% |
| Current assets | 29/58 | €352,464 | €227,630 | -€124,834 | -35.4% |
| Amounts receivable within one year | 40/41 | €39,032 | €40,993 | +€1,961 | +5.0% |
| Trade receivables | 40 | €23,712 | €23,742 | +€30 | +0.1% |
| Other amounts receivable | 41 | €15,321 | €17,251 | +€1,931 | +12.6% |
| Current investments | 50/53 | €63,587 | €73,787 | +€10,200 | +16.0% |
| Cash at bank and in hand | 54/58 | €243,935 | €106,488 | -€137,447 | -56.3% |
| Deferred charges and accrued income | 490/1 | €5,910 | €6,362 | +€452 | +7.6% |
| Total equity and liabilities | 10/49 | €388,433 | €257,215 | -€131,218 | -33.8% |
| Equity | 10/15 | €146,266 | €63,053 | -€83,213 | -56.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €143,266 | €60,053 | -€83,213 | -58.1% |
| Distributable reserves | 133 | €143,266 | €60,053 | -€83,213 | -58.1% |
| Amounts payable | 17/49 | €242,167 | €194,162 | -€48,005 | -19.8% |
| Amounts payable within one year | 42/48 | €242,167 | €194,162 | -€48,005 | -19.8% |
| Trade debts | 44 | - | €367 | +€367 | |
| Suppliers | 440/4 | - | €367 | +€367 | |
| Taxes, remuneration and social security | 45 | €10,353 | €10,973 | +€621 | +6.0% |
| Taxes | 450/3 | €10,353 | €10,973 | +€621 | +6.0% |
| Other amounts payable | 47/48 | €231,815 | €182,823 | -€48,992 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,052 | €6,384 | +€332 | +5.5% |
| Other operating charges | 640/8 | €2,588 | €2,727 | +€139 | +5.4% |
| Gross operating margin | 9900 | €130,456 | €128,877 | -€1,578 | -1.2% |
| Operating profit (loss) | 9901 | €121,815 | €119,766 | -€2,049 | -1.7% |
| Financial income | 75/76B | €490 | €1,873 | +€1,382 | +282% |
| Recurring financial income | 75 | €490 | €1,873 | +€1,382 | +282% |
| Financial charges | 65/66B | €824 | €867 | +€43 | +5.2% |
| Recurring financial charges | 65 | €824 | €867 | +€43 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €121,482 | €120,772 | -€710 | -0.6% |
| Income taxes | 67/77 | €27,757 | €28,415 | +€657 | +2.4% |
| Profit (loss) for the period | 9904 | €93,724 | €92,357 | -€1,367 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €93,724 | €92,357 | -€1,367 | -1.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.