AY & ES: 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.
AY & ES
Largest movements
- Cash -€57,612
down €57,612 (-23.9%), from €241,001 to €183,389
mainly Tax, wage and social debts (-€287,536) and Trade debts (-€17,149)
- Deferred charges and accrued income -€10,460
no longer reported in 2026 (was €10,460)
- Tax, wage and social debts -€287,536
down €287,536 (-90.5%), from €317,623 to €30,087
of which Remuneration and social security: -€269,662
- Other debts +€96,268
up €96,268 (+1653.8%), from €5,821 to €102,089
- Reserves +€96,007
up €96,007 (+52.1%), from €184,300 to €280,307
- Current portion of long-term debt +€41,359
up €41,359 (+404.1%), from €10,235 to €51,594
- Trade debts -€17,149
down €17,149 (-68.8%), from €24,909 to €7,760
- Staff costs -€284,240
down €284,240 (-13.2%), from €2.1m to €1.9m
- Gross operating margin -€266,530
down €266,530 (-11.5%), from €2.3m to €2.1m
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 | €549,088 | €484,037 | -€65,051 | -11.8% |
| Fixed assets | 21/28 | €7,489 | €5,694 | -€1,795 | -24.0% |
| Tangible fixed assets | 22/27 | €7,176 | €5,381 | -€1,795 | -25.0% |
| Plant, machinery and equipment | 23 | €2,443 | €2,187 | -€256 | -10.5% |
| Furniture and vehicles | 24 | €4,733 | €3,194 | -€1,539 | -32.5% |
| Financial fixed assets | 28 | €313 | €313 | = | 0.0% |
| Current assets | 29/58 | €541,599 | €478,343 | -€63,256 | -11.7% |
| Amounts receivable within one year | 40/41 | €290,138 | €294,954 | +€4,816 | +1.7% |
| Trade receivables | 40 | €206,884 | €198,941 | -€7,943 | -3.8% |
| Other amounts receivable | 41 | €83,254 | €96,013 | +€12,759 | +15.3% |
| Cash at bank and in hand | 54/58 | €241,001 | €183,389 | -€57,612 | -23.9% |
| Deferred charges and accrued income | 490/1 | €10,460 | - | -€10,460 | |
| Total equity and liabilities | 10/49 | €549,088 | €484,037 | -€65,051 | -11.8% |
| Equity | 10/15 | €190,500 | €286,507 | +€96,007 | +50.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €184,300 | €280,307 | +€96,007 | +52.1% |
| Distributable reserves | 133 | €184,300 | €280,307 | +€96,007 | +52.1% |
| Amounts payable | 17/49 | €358,588 | €197,530 | -€161,058 | -44.9% |
| Amounts payable within one year | 42/48 | €358,588 | €191,530 | -€167,058 | -46.6% |
| Current portion of amounts payable after more than one year | 42 | €10,235 | €51,594 | +€41,359 | +404.1% |
| Trade debts | 44 | €24,909 | €7,760 | -€17,149 | -68.8% |
| Suppliers | 440/4 | €24,909 | €7,760 | -€17,149 | -68.8% |
| Taxes, remuneration and social security | 45 | €317,623 | €30,087 | -€287,536 | -90.5% |
| Taxes | 450/3 | €37,038 | €19,164 | -€17,874 | -48.3% |
| Remuneration and social security | 454/9 | €280,585 | €10,923 | -€269,662 | -96.1% |
| Other amounts payable | 47/48 | €5,821 | €102,089 | +€96,268 | +1653.8% |
| Accrued charges and deferred income | 492/3 | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €2,146,748 | €1,862,508 | -€284,240 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,879 | €1,795 | -€1,084 | -37.7% |
| Other operating charges | 640/8 | €876 | €14,325 | +€13,449 | +1535.3% |
| Gross operating margin | 9900 | €2,323,344 | €2,056,814 | -€266,530 | -11.5% |
| Operating profit (loss) | 9901 | €172,841 | €178,186 | +€5,345 | +3.1% |
| Financial income | 75/76B | €62 | €3,433 | +€3,371 | +5437.1% |
| Recurring financial income | 75 | €62 | €3,433 | +€3,371 | +5437.1% |
| Financial charges | 65/66B | €4,001 | €5,452 | +€1,451 | +36.3% |
| Recurring financial charges | 65 | €4,001 | €5,452 | +€1,451 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €168,902 | €176,167 | +€7,265 | +4.3% |
| Income taxes | 67/77 | €61,749 | €66,510 | +€4,761 | +7.7% |
| Profit (loss) for the period | 9904 | €107,153 | €109,657 | +€2,504 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €107,153 | €109,657 | +€2,504 | +2.3% |
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 11 October 2026 via checked.be.