ANNICK VRONINKS: 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.
ANNICK VRONINKS
Largest movements
- Cash +€392,953
up €392,953 (+27.2%), from €1.4m to €1.8m
mainly Current investments (+€250,000) and Net result for the year (+€147,644)
- Current investments -€250,000
down €250,000 (-98.4%), from €254,081 to €4,081
- Financial fixed assets +€44,000
new in 2026: €44,000
- Tangible fixed assets -€28,231
down €28,231 (-11.3%), from €249,822 to €221,591
of which Plant, machinery and equipment: -€28,430
- Reserves +€147,600
up €147,600 (+9.3%), from €1.6m to €1.7m
of which Distributable reserves: +€147,600
- Depreciation -€18,994
down €18,994 (-46.5%), from €40,816 to €21,821
- Gross operating margin +€13,900
up €13,900 (+5.9%), from €237,346 to €251,246
- Taxes +€7,199
up €7,199 (+12.7%), from €56,820 to €64,020
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 | €1,963,162 | €2,122,661 | +€159,499 | +8.1% |
| Fixed assets | 21/28 | €249,822 | €265,591 | +€15,769 | +6.3% |
| Tangible fixed assets | 22/27 | €249,822 | €221,591 | -€28,231 | -11.3% |
| Land and buildings | 22 | €1,888 | €21,993 | +€20,105 | +1,065% |
| Plant, machinery and equipment | 23 | €28,430 | €0 | -€28,430 | -100% |
| Furniture and vehicles | 24 | €3,436 | €2,200 | -€1,236 | -36.0% |
| Other tangible fixed assets | 26 | €216,068 | €197,398 | -€18,669 | -8.6% |
| Financial fixed assets | 28 | - | €44,000 | +€44,000 | |
| Current assets | 29/58 | €1,713,340 | €1,857,070 | +€143,730 | +8.4% |
| Amounts receivable within one year | 40/41 | €11,743 | €9,856 | -€1,887 | -16.1% |
| Trade receivables | 40 | €1,325 | €3,146 | +€1,821 | +137% |
| Other amounts receivable | 41 | €10,418 | €6,710 | -€3,708 | -35.6% |
| Current investments | 50/53 | €254,081 | €4,081 | -€250,000 | -98.4% |
| Cash at bank and in hand | 54/58 | €1,446,208 | €1,839,161 | +€392,953 | +27.2% |
| Deferred charges and accrued income | 490/1 | €1,308 | €3,972 | +€2,664 | +204% |
| Total equity and liabilities | 10/49 | €1,963,162 | €2,122,661 | +€159,499 | +8.1% |
| Equity | 10/15 | €1,609,046 | €1,756,690 | +€147,644 | +9.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,590,401 | €1,738,001 | +€147,600 | +9.3% |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €1,576,401 | €1,724,001 | +€147,600 | +9.4% |
| Profit (loss) carried forward | 14 | €94 | €138 | +€44 | +46.6% |
| Amounts payable | 17/49 | €354,117 | €365,972 | +€11,855 | +3.3% |
| Amounts payable within one year | 42/48 | €337,148 | €347,709 | +€10,562 | +3.1% |
| Trade debts | 44 | €7,535 | €1,016 | -€6,519 | -86.5% |
| Suppliers | 440/4 | €7,535 | €1,016 | -€6,519 | -86.5% |
| Taxes, remuneration and social security | 45 | €20,761 | €23,481 | +€2,720 | +13.1% |
| Taxes | 450/3 | €20,761 | €21,236 | +€475 | +2.3% |
| Remuneration and social security | 454/9 | €0 | €2,245 | +€2,245 | |
| Other amounts payable | 47/48 | €308,852 | €323,213 | +€14,361 | +4.6% |
| Accrued charges and deferred income | 492/3 | €16,969 | €18,263 | +€1,294 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,816 | €21,821 | -€18,994 | -46.5% |
| Other operating charges | 640/8 | €8,139 | €8,031 | -€109 | -1.3% |
| Non-recurring operating charges | 66A | - | €11,099 | +€11,099 | |
| Gross operating margin | 9900 | €237,346 | €251,246 | +€13,900 | +5.9% |
| Operating profit (loss) | 9901 | €188,391 | €210,295 | +€21,904 | +11.6% |
| Financial income | 75/76B | €24,779 | €23,848 | -€931 | -3.8% |
| Recurring financial income | 75 | €24,779 | €23,848 | -€931 | -3.8% |
| Financial charges | 65/66B | €24,374 | €22,479 | -€1,895 | -7.8% |
| Recurring financial charges | 65 | €24,374 | €22,479 | -€1,895 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €188,796 | €211,663 | +€22,868 | +12.1% |
| Income taxes | 67/77 | €56,820 | €64,020 | +€7,199 | +12.7% |
| Profit (loss) for the period | 9904 | €131,976 | €147,644 | +€15,668 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €131,976 | €147,644 | +€15,668 | +11.9% |
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 13 October 2026 via checked.be.