CATHY LAGASSE: 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.
CATHY LAGASSE
Largest movements
- Current investments +€8,254
up €8,254 (+3.9%), from €209,471 to €217,726
- Cash -€5,483
down €5,483 (-16.4%), from €33,510 to €28,027
mainly Contributions, distributions and other (-€32,378) and Current investments (-€8,254)
- Reserves +€3,956
up €3,956 (+1.9%), from €205,269 to €209,225
of which Distributable reserves: +€3,956
- Trade debts -€3,721
down €3,721 (-82.1%), from €4,532 to €811
- Financial income +€7,917
up €7,917 (+778%), from €1,017 to €8,935
- Taxes +€2,650
up €2,650 (+19.7%), from €13,453 to €16,103
- Gross operating margin -€2,616
down €2,616 (-5.3%), from €48,969 to €46,353
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 | €263,355 | €264,182 | +€826 | +0.3% |
| Fixed assets | 21/28 | €4,119 | €2,679 | -€1,440 | -35.0% |
| Tangible fixed assets | 22/27 | €4,119 | €2,679 | -€1,440 | -35.0% |
| Land and buildings | 22 | €2,221 | €2,121 | -€100 | -4.5% |
| Furniture and vehicles | 24 | €1,898 | €558 | -€1,341 | -70.6% |
| Current assets | 29/58 | €259,237 | €261,503 | +€2,266 | +0.9% |
| Amounts receivable within one year | 40/41 | €16,255 | €15,750 | -€505 | -3.1% |
| Trade receivables | 40 | €12,403 | €12,173 | -€230 | -1.9% |
| Other amounts receivable | 41 | €3,852 | €3,578 | -€275 | -7.1% |
| Current investments | 50/53 | €209,471 | €217,726 | +€8,254 | +3.9% |
| Cash at bank and in hand | 54/58 | €33,510 | €28,027 | -€5,483 | -16.4% |
| Total equity and liabilities | 10/49 | €263,355 | €264,182 | +€826 | +0.3% |
| Equity | 10/15 | €224,191 | €228,146 | +€3,956 | +1.8% |
| Contributions | 10/11 | €18,921 | €18,921 | = | 0.0% |
| Reserves | 13 | €205,269 | €209,225 | +€3,956 | +1.9% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €175,269 | €179,225 | +€3,956 | +2.3% |
| Amounts payable | 17/49 | €39,165 | €36,035 | -€3,130 | -8.0% |
| Amounts payable within one year | 42/48 | €39,165 | €36,035 | -€3,130 | -8.0% |
| Trade debts | 44 | €4,532 | €811 | -€3,721 | -82.1% |
| Suppliers | 440/4 | €4,532 | €811 | -€3,721 | -82.1% |
| Taxes, remuneration and social security | 45 | €4,636 | €3,518 | -€1,117 | -24.1% |
| Taxes | 450/3 | €3,449 | €3,518 | +€70 | +2.0% |
| Remuneration and social security | 454/9 | €1,187 | - | -€1,187 | |
| Other amounts payable | 47/48 | €29,997 | €31,706 | +€1,708 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440 | €1,440 | -€0 | 0.0% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €48,969 | €46,353 | -€2,616 | -5.3% |
| Operating profit (loss) | 9901 | €47,001 | €44,369 | -€2,632 | -5.6% |
| Financial income | 75/76B | €1,017 | €8,935 | +€7,917 | +778% |
| Recurring financial income | 75 | €1,017 | €8,935 | +€7,917 | +778% |
| Financial charges | 65/66B | €865 | €867 | +€1 | +0.2% |
| Recurring financial charges | 65 | €865 | €867 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €47,153 | €52,437 | +€5,284 | +11.2% |
| Income taxes | 67/77 | €13,453 | €16,103 | +€2,650 | +19.7% |
| Profit (loss) for the period | 9904 | €33,700 | €36,334 | +€2,634 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €33,700 | €36,334 | +€2,634 | +7.8% |
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 28 October 2026 via checked.be.