BRANCH AND BOUND: what changed
BRANCH AND BOUND
Largest movements
- Current investments +€53,532
up €53,532 (+23.8%), from €225,149 to €278,682
- Receivables within one year +€33,075
up €33,075 (+59.0%), from €56,089 to €89,164
of which Trade receivables: +€41,671
- Cash -€22,130
down €22,130 (-91.7%), from €24,136 to €2,007
mainly Contributions, distributions and other (-€91,000) and Current investments (-€53,532)
- Financial fixed assets -€11,026
down €11,026 (-37.8%), from €29,186 to €18,160
- Deferred charges and accrued income -€5,540
down €5,540 (-82.2%), from €6,743 to €1,203
- Other debts +€47,584
up €47,584 (+201%), from €23,720 to €71,304
- Profit (loss) carried forward +€7,738
up €7,738 (+4,133%), from €187 to €7,926
- Tax, wage and social debts -€6,218
down €6,218 (-93.7%), from €6,635 to €417
- Gross operating margin +€34,145
up €34,145 (+27.9%), from €122,477 to €156,622
- Financial income -€3,876
down €3,876 (-31.5%), from €12,309 to €8,433
- Staff costs -€3,397
down €3,397 (-14.6%), from €23,344 to €19,947
- Taxes +€2,580
up €2,580 (+10.2%), from €25,237 to €27,817
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 | €343,445 | €391,231 | +€47,786 | +13.9% |
| Fixed assets | 21/28 | €31,327 | €20,176 | -€11,152 | -35.6% |
| Tangible fixed assets | 22/27 | €2,141 | €2,016 | -€125 | -5.9% |
| Plant, machinery and equipment | 23 | €1,033 | €731 | -€302 | -29.2% |
| Furniture and vehicles | 24 | €1,109 | €1,285 | +€177 | +15.9% |
| Financial fixed assets | 28 | €29,186 | €18,160 | -€11,026 | -37.8% |
| Current assets | 29/58 | €312,118 | €371,056 | +€58,938 | +18.9% |
| Amounts receivable within one year | 40/41 | €56,089 | €89,164 | +€33,075 | +59.0% |
| Trade receivables | 40 | €28,325 | €69,996 | +€41,671 | +147% |
| Other amounts receivable | 41 | €27,764 | €19,168 | -€8,596 | -31.0% |
| Current investments | 50/53 | €225,149 | €278,682 | +€53,532 | +23.8% |
| Cash at bank and in hand | 54/58 | €24,136 | €2,007 | -€22,130 | -91.7% |
| Deferred charges and accrued income | 490/1 | €6,743 | €1,203 | -€5,540 | -82.2% |
| Total equity and liabilities | 10/49 | €343,445 | €391,231 | +€47,786 | +13.9% |
| Equity | 10/15 | €309,189 | €316,928 | +€7,738 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €290,402 | €290,402 | = | 0.0% |
| Non-distributable reserves | 130/1 | €195,516 | €195,516 | = | 0.0% |
| Other | 1319 | €195,516 | €195,516 | = | 0.0% |
| Distributable reserves | 133 | €94,886 | €94,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187 | €7,926 | +€7,738 | +4,133% |
| Amounts payable | 17/49 | €34,256 | €74,304 | +€40,048 | +117% |
| Amounts payable within one year | 42/48 | €30,878 | €73,330 | +€42,451 | +137% |
| Trade debts | 44 | €523 | €1,608 | +€1,085 | +207% |
| Suppliers | 440/4 | €523 | €1,608 | +€1,085 | +207% |
| Taxes, remuneration and social security | 45 | €6,635 | €417 | -€6,218 | -93.7% |
| Taxes | 450/3 | €6,635 | €417 | -€6,218 | -93.7% |
| Other amounts payable | 47/48 | €23,720 | €71,304 | +€47,584 | +201% |
| Accrued charges and deferred income | 492/3 | €3,377 | €974 | -€2,403 | -71.2% |
| Remuneration, social security and pensions | 62 | €23,344 | €19,947 | -€3,397 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,320 | €16,201 | -€119 | -0.7% |
| Other operating charges | 640/8 | €794 | €724 | -€70 | -8.8% |
| Gross operating margin | 9900 | €122,477 | €156,622 | +€34,145 | +27.9% |
| Operating profit (loss) | 9901 | €82,019 | €119,750 | +€37,731 | +46.0% |
| Financial income | 75/76B | €12,309 | €8,433 | -€3,876 | -31.5% |
| Recurring financial income | 75 | €12,309 | €8,433 | -€3,876 | -31.5% |
| Financial charges | 65/66B | €2,736 | €1,627 | -€1,109 | -40.5% |
| Recurring financial charges | 65 | €2,736 | €1,627 | -€1,109 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €91,591 | €126,555 | +€34,964 | +38.2% |
| Income taxes | 67/77 | €25,237 | €27,817 | +€2,580 | +10.2% |
| Profit (loss) for the period | 9904 | €66,355 | €98,738 | +€32,384 | +48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,355 | €98,738 | +€32,384 | +48.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.