C.L.A.: 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.
C.L.A.
Largest movements
- Cash -€23,055
down €23,055 (-16.1%), from €142,807 to €119,751
mainly Debts after one year (-€22,222) and Receivables within one year (-€13,469)
- Tangible fixed assets -€19,387
down €19,387 (-3.5%), from €547,647 to €528,260
of which Land and buildings: -€18,095
- Receivables within one year +€13,469
up €13,469 (+126.3%), from €10,668 to €24,137
- Debts after one year -€22,222
down €22,222 (-15.9%), from €140,093 to €117,871
- Gross operating margin +€9,004
up €9,004 (+71.8%), from €12,544 to €21,549
- Financial income -€8,190
down €8,190 (-94.7%), from €8,647 to €457
- Financial charges -€946
down €946 (-12.0%), from €7,894 to €6,948
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 | €701,473 | €672,570 | -€28,904 | -4.1% |
| Fixed assets | 21/28 | €547,647 | €528,260 | -€19,387 | -3.5% |
| Tangible fixed assets | 22/27 | €547,647 | €528,260 | -€19,387 | -3.5% |
| Land and buildings | 22 | €543,125 | €525,030 | -€18,095 | -3.3% |
| Plant, machinery and equipment | 23 | €4,521 | €3,230 | -€1,292 | -28.6% |
| Current assets | 29/58 | €153,827 | €144,310 | -€9,517 | -6.2% |
| Amounts receivable within one year | 40/41 | €10,668 | €24,137 | +€13,469 | +126.3% |
| Other amounts receivable | 41 | €10,668 | €24,137 | +€13,469 | +126.3% |
| Cash at bank and in hand | 54/58 | €142,807 | €119,751 | -€23,055 | -16.1% |
| Deferred charges and accrued income | 490/1 | €352 | €421 | +€69 | +19.6% |
| Total equity and liabilities | 10/49 | €701,473 | €672,570 | -€28,904 | -4.1% |
| Equity | 10/15 | €478,230 | €473,879 | -€4,350 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €459,630 | €455,279 | -€4,350 | -0.9% |
| Tax-exempt reserves | 132 | €128,298 | €121,757 | -€6,541 | -5.1% |
| Distributable reserves | 133 | €331,332 | €333,522 | +€2,191 | +0.7% |
| Provisions and deferred taxes | 16 | €61,746 | €58,378 | -€3,368 | -5.5% |
| Deferred taxes | 168 | €61,746 | €58,378 | -€3,368 | -5.5% |
| Amounts payable | 17/49 | €161,497 | €140,312 | -€21,185 | -13.1% |
| Amounts payable after more than one year | 17 | €140,093 | €117,871 | -€22,222 | -15.9% |
| Financial debts | 170/4 | €140,093 | €117,871 | -€22,222 | -15.9% |
| Amounts payable within one year | 42/48 | €21,404 | €22,441 | +€1,037 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €21,252 | €22,222 | +€970 | +4.6% |
| Trade debts | 44 | €152 | - | -€152 | |
| Suppliers | 440/4 | €152 | - | -€152 | |
| Taxes, remuneration and social security | 45 | - | €219 | +€219 | |
| Taxes | 450/3 | - | €219 | +€219 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,187 | €19,387 | +€200 | +1.0% |
| Other operating charges | 640/8 | €3,220 | €3,306 | +€86 | +2.7% |
| Gross operating margin | 9900 | €12,544 | €21,549 | +€9,004 | +71.8% |
| Operating profit (loss) | 9901 | -€9,862 | -€1,144 | +€8,718 | +88.4% |
| Financial income | 75/76B | €8,647 | €457 | -€8,190 | -94.7% |
| Recurring financial income | 75 | €8,647 | €457 | -€8,190 | -94.7% |
| Financial charges | 65/66B | €7,894 | €6,948 | -€946 | -12.0% |
| Recurring financial charges | 65 | €7,894 | €6,948 | -€946 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,110 | -€7,636 | +€1,474 | +16.2% |
| Transfer from deferred taxes | 780 | €3,368 | €3,368 | = | 0.0% |
| Income taxes | 67/77 | -€68 | €82 | +€150 | |
| Profit (loss) for the period | 9904 | -€5,674 | -€4,350 | +€1,324 | +23.3% |
| Transfer from tax-exempt reserves | 789 | €6,541 | €6,541 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €866 | €2,191 | +€1,324 | +152.8% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.