BALCAEN: 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.
BALCAEN
Largest movements
- Cash +€22,253
up €22,253 (+3142.0%), from €708 to €22,961
mainly Receivables within one year (+€18,073) and Depreciation (+€10,297)
- Receivables within one year -€18,073
down €18,073 (-94.9%), from €19,051 to €978
of which Trade receivables: -€16,936
- Deferred charges and accrued income -€694
no longer reported in 2026 (was €694)
- Tangible fixed assets +€686
up €686 (+3.7%), from €18,463 to €19,149
of which Plant, machinery and equipment: +€7,916
- Reserves +€9,734
up €9,734 (+61.6%), from €15,793 to €25,527
- Other debts -€6,006
no longer reported in 2026 (was €6,006)
- Debts after one year +€4,692
up €4,692 (+201.2%), from €2,333 to €7,025
- Current portion of long-term debt -€2,167
no longer reported in 2026 (was €2,167)
- Trade debts -€2,024
down €2,024 (-37.8%), from €5,361 to €3,337
- Gross operating margin +€9,676
up €9,676 (+50.2%), from €19,289 to €28,965
- Depreciation -€4,422
down €4,422 (-30.0%), from €14,719 to €10,297
- Taxes +€3,218
up €3,218 (+164.7%), from €1,954 to €5,172
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 | €38,916 | €43,298 | +€4,382 | +11.3% |
| Fixed assets | 21/28 | €18,463 | €19,359 | +€896 | +4.9% |
| Tangible fixed assets | 22/27 | €18,463 | €19,149 | +€686 | +3.7% |
| Plant, machinery and equipment | 23 | €2,563 | €10,478 | +€7,916 | +308.9% |
| Furniture and vehicles | 24 | €8,950 | €1,423 | -€7,527 | -84.1% |
| Other tangible fixed assets | 26 | €6,950 | €7,247 | +€297 | +4.3% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €20,453 | €23,939 | +€3,486 | +17.0% |
| Amounts receivable within one year | 40/41 | €19,051 | €978 | -€18,073 | -94.9% |
| Trade receivables | 40 | €16,936 | - | -€16,936 | |
| Other amounts receivable | 41 | €2,115 | €978 | -€1,137 | -53.8% |
| Cash at bank and in hand | 54/58 | €708 | €22,961 | +€22,253 | +3142.0% |
| Deferred charges and accrued income | 490/1 | €694 | - | -€694 | |
| Total equity and liabilities | 10/49 | €38,916 | €43,298 | +€4,382 | +11.3% |
| Equity | 10/15 | €22,093 | €31,827 | +€9,734 | +44.1% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €15,793 | €25,527 | +€9,734 | +61.6% |
| Distributable reserves | 133 | €15,793 | €25,527 | +€9,734 | +61.6% |
| Amounts payable | 17/49 | €16,823 | €11,470 | -€5,352 | -31.8% |
| Amounts payable after more than one year | 17 | €2,333 | €7,025 | +€4,692 | +201.2% |
| Other amounts payable | 178/9 | €2,333 | €7,025 | +€4,692 | +201.2% |
| Amounts payable within one year | 42/48 | €14,490 | €4,445 | -€10,045 | -69.3% |
| Current portion of amounts payable after more than one year | 42 | €2,167 | - | -€2,167 | |
| Trade debts | 44 | €5,361 | €3,337 | -€2,024 | -37.8% |
| Suppliers | 440/4 | €5,361 | €3,337 | -€2,024 | -37.8% |
| Taxes, remuneration and social security | 45 | €956 | €1,109 | +€152 | +15.9% |
| Taxes | 450/3 | €956 | €1,109 | +€152 | +15.9% |
| Other amounts payable | 47/48 | €6,006 | - | -€6,006 | |
| Non-recurring operating income | 76A | - | €22,500 | +€22,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,719 | €10,297 | -€4,422 | -30.0% |
| Other operating charges | 640/8 | €1,184 | €989 | -€195 | -16.5% |
| Non-recurring operating charges | 66A | - | €1,825 | +€1,825 | |
| Gross operating margin | 9900 | €19,289 | €28,965 | +€9,676 | +50.2% |
| Operating profit (loss) | 9901 | €3,386 | €15,854 | +€12,468 | +368.3% |
| Financial charges | 65/66B | €1,119 | €948 | -€172 | -15.3% |
| Recurring financial charges | 65 | €1,119 | €948 | -€172 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €2,266 | €14,906 | +€12,640 | +557.7% |
| Income taxes | 67/77 | €1,954 | €5,172 | +€3,218 | +164.7% |
| Profit (loss) for the period | 9904 | €313 | €9,734 | +€9,422 | +3014.4% |
| Profit (loss) for the period to be appropriated | 9905 | €313 | €9,734 | +€9,422 | +3014.4% |
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 12 October 2026 via checked.be.