BUSINESS SIMULATIONS: 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.
BUSINESS SIMULATIONS
Largest movements
- Current investments -€14,938
down €14,938 (-8.3%), from €179,673 to €164,735
- Tangible fixed assets -€14,290
down €14,290 (-7.6%), from €187,320 to €173,030
of which Land and buildings: -€10,252
- Cash +€11,092
up €11,092 (+177%), from €6,284 to €17,376
mainly Net result for the year (+€52,888) and Debts after one year (+€25,427)
- Receivables within one year +€10,320
up €10,320 (+6.8%), from €151,542 to €161,861
of which Trade receivables: +€16,744
- Trade debts -€104,285
down €104,285 (-77.8%), from €133,973 to €29,688
- Reserves +€30,000
up €30,000 (+16.4%), from €183,051 to €213,051
of which Distributable reserves: +€30,000
- Debts after one year +€25,427
up €25,427 (+46.7%), from €54,439 to €79,866
of which Financial debts: +€25,427
- Current portion of long-term debt +€14,932
up €14,932 (+273%), from €5,466 to €20,398
- Other debts +€13,254
up €13,254 (+54.8%), from €24,193 to €37,448
- Gross operating margin +€48,183
up €48,183 (+101%), from €47,778 to €95,961
- Taxes +€11,211
up €11,211 (+153%), from €7,308 to €18,519
- Other operating charges -€4,161
down €4,161 (-54.2%), from €7,682 to €3,522
- Financial charges +€996
up €996 (+54.8%), from €1,816 to €2,812
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 | €530,000 | €520,682 | -€9,318 | -1.8% |
| Fixed assets | 21/28 | €187,880 | €173,590 | -€14,290 | -7.6% |
| Tangible fixed assets | 22/27 | €187,320 | €173,030 | -€14,290 | -7.6% |
| Land and buildings | 22 | €150,849 | €140,597 | -€10,252 | -6.8% |
| Plant, machinery and equipment | 23 | €11,469 | €9,739 | -€1,730 | -15.1% |
| Furniture and vehicles | 24 | €23,006 | €20,697 | -€2,308 | -10.0% |
| Assets under construction and advance payments | 27 | €1,997 | €1,997 | = | 0.0% |
| Financial fixed assets | 28 | €560 | €560 | = | 0.0% |
| Current assets | 29/58 | €342,120 | €347,092 | +€4,972 | +1.5% |
| Amounts receivable within one year | 40/41 | €151,542 | €161,861 | +€10,320 | +6.8% |
| Trade receivables | 40 | €144,756 | €161,501 | +€16,744 | +11.6% |
| Other amounts receivable | 41 | €6,786 | €361 | -€6,425 | -94.7% |
| Current investments | 50/53 | €179,673 | €164,735 | -€14,938 | -8.3% |
| Cash at bank and in hand | 54/58 | €6,284 | €17,376 | +€11,092 | +177% |
| Deferred charges and accrued income | 490/1 | €4,622 | €3,120 | -€1,502 | -32.5% |
| Total equity and liabilities | 10/49 | €530,000 | €520,682 | -€9,318 | -1.8% |
| Equity | 10/15 | €309,822 | €347,710 | +€37,888 | +12.2% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €183,051 | €213,051 | +€30,000 | +16.4% |
| Non-distributable reserves | 130/1 | €162,073 | €162,073 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Own shares acquired | 1312 | €149,673 | €149,673 | = | 0.0% |
| Distributable reserves | 133 | €20,978 | €50,978 | +€30,000 | +143% |
| Profit (loss) carried forward | 14 | €2,771 | €10,659 | +€7,888 | +285% |
| Amounts payable | 17/49 | €220,178 | €172,972 | -€47,206 | -21.4% |
| Amounts payable after more than one year | 17 | €54,439 | €79,866 | +€25,427 | +46.7% |
| Financial debts | 170/4 | €11,102 | €36,529 | +€25,427 | +229% |
| Other amounts payable | 178/9 | €43,337 | €43,337 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,739 | €91,046 | -€74,693 | -45.1% |
| Current portion of amounts payable after more than one year | 42 | €5,466 | €20,398 | +€14,932 | +273% |
| Trade debts | 44 | €133,973 | €29,688 | -€104,285 | -77.8% |
| Suppliers | 440/4 | €133,973 | €29,688 | -€104,285 | -77.8% |
| Taxes, remuneration and social security | 45 | €2,107 | €3,511 | +€1,405 | +66.7% |
| Taxes | 450/3 | €2,107 | €3,511 | +€1,405 | +66.7% |
| Other amounts payable | 47/48 | €24,193 | €37,448 | +€13,254 | +54.8% |
| Accrued charges and deferred income | 492/3 | - | €2,060 | +€2,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,047 | €18,290 | +€243 | +1.3% |
| Other operating charges | 640/8 | €7,682 | €3,522 | -€4,161 | -54.2% |
| Gross operating margin | 9900 | €47,778 | €95,961 | +€48,183 | +101% |
| Operating profit (loss) | 9901 | €22,049 | €74,150 | +€52,101 | +236% |
| Financial income | 75/76B | €54 | €69 | +€16 | +29.3% |
| Recurring financial income | 75 | €54 | €69 | +€16 | +29.3% |
| Financial charges | 65/66B | €1,816 | €2,812 | +€996 | +54.8% |
| Recurring financial charges | 65 | €1,816 | €2,812 | +€996 | +54.8% |
| Profit (loss) for the period before taxes | 9903 | €20,286 | €71,407 | +€51,121 | +252% |
| Income taxes | 67/77 | €7,308 | €18,519 | +€11,211 | +153% |
| Profit (loss) for the period | 9904 | €12,978 | €52,888 | +€39,910 | +308% |
| Profit (loss) for the period to be appropriated | 9905 | €12,978 | €52,888 | +€39,910 | +308% |
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 15 October 2026 via checked.be.