BURN: what changed
Two fiscal 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.
BURN
Largest movements
- Tangible fixed assets -€129,963
down €129,963 (-82.8%), from €156,964 to €27,001
of which Other tangible fixed assets: -€126,182
- Receivables within one year +€19,667
up €19,667 (+117.7%), from €16,712 to €36,379
of which Trade receivables: +€11,363
- Stocks and contracts +€2,001
up €2,001 (+21.4%), from €9,336 to €11,337
- Debts after one year -€103,290
down €103,290 (-100.0%), from €103,290 to €0
- Short-term financial debts -€2,569
down €2,569 (-100.0%), from €2,569 to €0
- Profit (loss) carried forward +€2,012
up €2,012 (+16.2%), from €12,417 to €14,428
- Gross operating margin +€121,454
up €121,454 (+1351.1%), from €8,989 to €130,443
- Financial income +€3,176
up €3,176 (+783.5%), from €405 to €3,582
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 | €183,988 | €77,236 | -€106,751 | -58.0% |
| Fixed assets | 21/28 | €156,964 | €27,001 | -€129,963 | -82.8% |
| Tangible fixed assets | 22/27 | €156,964 | €27,001 | -€129,963 | -82.8% |
| Plant, machinery and equipment | 23 | €9,891 | €8,401 | -€1,490 | -15.1% |
| Furniture and vehicles | 24 | €6,199 | €3,908 | -€2,291 | -37.0% |
| Other tangible fixed assets | 26 | €140,874 | €14,692 | -€126,182 | -89.6% |
| Current assets | 29/58 | €27,023 | €50,235 | +€23,212 | +85.9% |
| Stocks and contracts in progress | 3 | €9,336 | €11,337 | +€2,001 | +21.4% |
| Stocks | 30/36 | €9,336 | €11,337 | +€2,001 | +21.4% |
| Amounts receivable within one year | 40/41 | €16,712 | €36,379 | +€19,667 | +117.7% |
| Trade receivables | 40 | €10,624 | €21,987 | +€11,363 | +107.0% |
| Other amounts receivable | 41 | €6,088 | €14,392 | +€8,305 | +136.4% |
| Cash at bank and in hand | 54/58 | - | €1,104 | +€1,104 | |
| Deferred charges and accrued income | 490/1 | €975 | €1,415 | +€440 | +45.1% |
| Total equity and liabilities | 10/49 | €183,988 | €77,236 | -€106,751 | -58.0% |
| Equity | 10/15 | €32,868 | €34,880 | +€2,012 | +6.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €0 | -€1,859 | -100.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100.0% |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | €12,417 | €14,428 | +€2,012 | +16.2% |
| Amounts payable | 17/49 | €151,119 | €42,357 | -€108,763 | -72.0% |
| Amounts payable after more than one year | 17 | €103,290 | €0 | -€103,290 | -100.0% |
| Other amounts payable | 178/9 | €103,290 | €0 | -€103,290 | -100.0% |
| Amounts payable within one year | 42/48 | €47,829 | €42,357 | -€5,473 | -11.4% |
| Financial debts | 43 | €2,569 | €0 | -€2,569 | -100.0% |
| Credit institutions | 430/8 | €2,569 | €0 | -€2,569 | -100.0% |
| Trade debts | 44 | €41,309 | €39,992 | -€1,317 | -3.2% |
| Suppliers | 440/4 | €41,309 | €39,992 | -€1,317 | -3.2% |
| Taxes, remuneration and social security | 45 | €3,952 | €2,365 | -€1,587 | -40.2% |
| Taxes | 450/3 | €3,952 | €2,365 | -€1,587 | -40.2% |
| Non-recurring operating income | 76A | - | €103,290 | +€103,290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,010 | €5,810 | +€800 | +16.0% |
| Other operating charges | 640/8 | €803 | €912 | +€109 | +13.6% |
| Non-recurring operating charges | 66A | €0 | €124,154 | +€124,154 | |
| Gross operating margin | 9900 | €8,989 | €130,443 | +€121,454 | +1351.1% |
| Operating profit (loss) | 9901 | €3,176 | -€432 | -€3,609 | |
| Financial income | 75/76B | €405 | €3,582 | +€3,176 | +783.5% |
| Recurring financial income | 75 | €405 | €3,582 | +€3,176 | +783.5% |
| Financial charges | 65/66B | €395 | €314 | -€81 | -20.5% |
| Recurring financial charges | 65 | €395 | €314 | -€81 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €3,187 | €2,835 | -€352 | -11.0% |
| Income taxes | 67/77 | €768 | €824 | +€56 | +7.2% |
| Profit (loss) for the period | 9904 | €2,419 | €2,012 | -€407 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,419 | €2,012 | -€407 | -16.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.