A - MODE 2: 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.
A - MODE 2
Largest movements
- Cash +€342,925
up €342,925 (+31.0%), from €1.1m to €1.4m
mainly Net result for the year (+€520,098) and Receivables after one year (+€211,303)
- Receivables after one year -€211,303
down €211,303 (-71.7%), from €294,745 to €83,441
- Tangible fixed assets -€119,256
down €119,256 (-14.2%), from €837,616 to €718,360
of which Plant, machinery and equipment: -€118,930
- Reserves +€219,558
up €219,558 (+506.4%), from €43,353 to €262,912
of which Distributable reserves: +€193,554
- Trade debts -€113,106
down €113,106 (-40.4%), from €279,664 to €166,557
- Debts after one year -€91,138
down €91,138 (-19.4%), from €469,234 to €378,096
No income-statement line moved by more than 1% of the activity.
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.
Cash bridge derived
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 | €2,259,420 | €2,273,208 | +€13,788 | +0.6% |
| Fixed assets | 21/28 | €837,616 | €718,360 | -€119,256 | -14.2% |
| Tangible fixed assets | 22/27 | €837,616 | €718,360 | -€119,256 | -14.2% |
| Plant, machinery and equipment | 23 | €837,290 | €718,360 | -€118,930 | -14.2% |
| Furniture and vehicles | 24 | €326 | €0 | -€326 | -100.0% |
| Current assets | 29/58 | €1,421,803 | €1,554,848 | +€133,044 | +9.4% |
| Amounts receivable after more than one year | 29 | €294,745 | €83,441 | -€211,303 | -71.7% |
| Other amounts receivable | 291 | €294,745 | €83,441 | -€211,303 | -71.7% |
| Amounts receivable within one year | 40/41 | €5,738 | €6,921 | +€1,182 | +20.6% |
| Trade receivables | 40 | €1,067 | €4,217 | +€3,150 | +295.1% |
| Other amounts receivable | 41 | €4,671 | €2,703 | -€1,968 | -42.1% |
| Cash at bank and in hand | 54/58 | €1,106,504 | €1,449,430 | +€342,925 | +31.0% |
| Deferred charges and accrued income | 490/1 | €14,816 | €15,056 | +€240 | +1.6% |
| Total equity and liabilities | 10/49 | €2,259,420 | €2,273,208 | +€13,788 | +0.6% |
| Equity | 10/15 | €731,471 | €951,029 | +€219,558 | +30.0% |
| Contributions | 10/11 | €688,117 | €688,117 | = | 0.0% |
| Capital | 10 | €688,117 | €688,117 | = | 0.0% |
| Issued capital | 100 | €688,117 | €688,117 | = | 0.0% |
| Reserves | 13 | €43,353 | €262,912 | +€219,558 | +506.4% |
| Non-distributable reserves | 130/1 | €4,390 | €30,394 | +€26,005 | +592.4% |
| Legal reserve | 130 | €4,390 | €30,394 | +€26,005 | +592.4% |
| Distributable reserves | 133 | €38,964 | €232,517 | +€193,554 | +496.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,527,949 | €1,322,179 | -€205,770 | -13.5% |
| Amounts payable after more than one year | 17 | €469,234 | €378,096 | -€91,138 | -19.4% |
| Financial debts | 170/4 | €469,234 | €378,096 | -€91,138 | -19.4% |
| Amounts payable within one year | 42/48 | €1,058,715 | €944,083 | -€114,632 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €90,639 | €91,138 | +€499 | +0.6% |
| Trade debts | 44 | €279,664 | €166,557 | -€113,106 | -40.4% |
| Suppliers | 440/4 | €279,664 | €166,557 | -€113,106 | -40.4% |
| Taxes, remuneration and social security | 45 | €386,410 | €385,848 | -€562 | -0.1% |
| Taxes | 450/3 | €202,965 | €209,937 | +€6,972 | +3.4% |
| Remuneration and social security | 454/9 | €183,445 | €175,911 | -€7,534 | -4.1% |
| Other amounts payable | 47/48 | €302,002 | €300,540 | -€1,462 | -0.5% |
| Remuneration, social security and pensions | 62 | €1,034,396 | €1,031,875 | -€2,521 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193,941 | €194,256 | +€315 | +0.2% |
| Other operating charges | 640/8 | €15,697 | €13,753 | -€1,944 | -12.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,880,407 | €1,872,423 | -€7,984 | -0.4% |
| Operating profit (loss) | 9901 | €636,373 | €632,538 | -€3,834 | -0.6% |
| Financial income | 75/76B | €13,704 | €10,772 | -€2,933 | -21.4% |
| Recurring financial income | 75 | €13,704 | €10,772 | -€2,933 | -21.4% |
| Financial charges | 65/66B | €46,073 | €42,230 | -€3,842 | -8.3% |
| Recurring financial charges | 65 | €46,073 | €42,230 | -€3,842 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €604,004 | €601,080 | -€2,925 | -0.5% |
| Income taxes | 67/77 | €84,210 | €80,981 | -€3,228 | -3.8% |
| Profit (loss) for the period | 9904 | €519,794 | €520,098 | +€304 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €519,794 | €520,098 | +€304 | +0.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.