Anne Gubbelmans: what changed
Anne Gubbelmans
Largest movements
- Cash +€80,257
up €80,257 (+111%), from €72,016 to €152,273
mainly Net result for the year (+€89,576) and Tax, wage and social debts (+€8,191)
- Receivables within one year +€17,500
up €17,500 (+89.7%), from €19,501 to €37,001
of which Other amounts receivable: +€17,500
- Reserves +€89,576
up €89,576 (+156%), from €57,319 to €146,895
- Tax, wage and social debts +€8,191
up €8,191 (+35.2%), from €23,299 to €31,489
- Gross operating margin +€37,938
up €37,938 (+49.7%), from €76,382 to €114,320
- Taxes +€9,224
up €9,224 (+60.4%), from €15,263 to €24,486
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,054 | €194,390 | +€96,336 | +98.2% |
| Fixed assets | 21/28 | €6,537 | €5,116 | -€1,421 | -21.7% |
| Tangible fixed assets | 22/27 | €6,537 | €5,116 | -€1,421 | -21.7% |
| Furniture and vehicles | 24 | €2,704 | €2,144 | -€560 | -20.7% |
| Other tangible fixed assets | 26 | €3,834 | €2,972 | -€862 | -22.5% |
| Current assets | 29/58 | €91,517 | €189,274 | +€97,757 | +107% |
| Amounts receivable within one year | 40/41 | €19,501 | €37,001 | +€17,500 | +89.7% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €19,501 | €37,001 | +€17,500 | +89.7% |
| Cash at bank and in hand | 54/58 | €72,016 | €152,273 | +€80,257 | +111% |
| Total equity and liabilities | 10/49 | €98,054 | €194,390 | +€96,336 | +98.2% |
| Equity | 10/15 | €72,319 | €161,895 | +€89,576 | +124% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €57,319 | €146,895 | +€89,576 | +156% |
| Distributable reserves | 133 | €57,319 | €146,895 | +€89,576 | +156% |
| Amounts payable | 17/49 | €25,735 | €32,495 | +€6,760 | +26.3% |
| Amounts payable within one year | 42/48 | €25,735 | €32,495 | +€6,760 | +26.3% |
| Trade debts | 44 | €1,450 | €682 | -€768 | -53.0% |
| Suppliers | 440/4 | €1,450 | €682 | -€768 | -53.0% |
| Taxes, remuneration and social security | 45 | €23,299 | €31,489 | +€8,191 | +35.2% |
| Taxes | 450/3 | €23,299 | €31,489 | +€8,191 | +35.2% |
| Other amounts payable | 47/48 | €986 | €323 | -€663 | -67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,047 | €1,421 | -€625 | -30.5% |
| Other operating charges | 640/8 | €420 | €128 | -€293 | -69.6% |
| Gross operating margin | 9900 | €76,382 | €114,320 | +€37,938 | +49.7% |
| Operating profit (loss) | 9901 | €73,915 | €112,771 | +€38,856 | +52.6% |
| Financial income | 75/76B | €372 | €1,331 | +€959 | +258% |
| Recurring financial income | 75 | €372 | €1,331 | +€959 | +258% |
| Financial charges | 65/66B | €13 | €40 | +€27 | +205% |
| Recurring financial charges | 65 | €13 | €40 | +€27 | +205% |
| Profit (loss) for the period before taxes | 9903 | €74,274 | €114,062 | +€39,788 | +53.6% |
| Income taxes | 67/77 | €15,263 | €24,486 | +€9,224 | +60.4% |
| Profit (loss) for the period | 9904 | €59,011 | €89,576 | +€30,564 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,011 | €89,576 | +€30,564 | +51.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.