Change in Action: 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.
Change in Action
Largest movements
- Receivables within one year -€102,061
down €102,061 (-71.6%), from €142,638 to €40,576
of which Other amounts receivable: -€52,337
- Cash +€100,865
up €100,865 (+97.5%), from €103,400 to €204,265
mainly Net result for the year (+€389,205) and Receivables within one year (+€102,061)
- Current investments -€60,376
down €60,376 (-17.0%), from €355,714 to €295,338
- Tangible fixed assets +€57,280
up €57,280 (+14.6%), from €393,353 to €450,633
of which Furniture and vehicles: +€69,064
- Other debts -€323,970
down €323,970 (-99.0%), from €327,179 to €3,209
- Reserves +€269,205
up €269,205 (+42.3%), from €636,031 to €905,236
of which Distributable reserves: +€269,205
- Tax, wage and social debts +€52,805
up €52,805 (+188%), from €28,021 to €80,826
- Gross operating margin +€71,925
up €71,925 (+16.3%), from €440,731 to €512,656
- Taxes +€46,155
up €46,155 (+42.2%), from €109,448 to €155,603
- Financial charges -€27,133
down €27,133 (-69.6%), from €38,990 to €11,857
- Financial income +€16,370
up €16,370 (+34.9%), from €46,873 to €63,244
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 | €998,474 | €996,272 | -€2,202 | -0.2% |
| Fixed assets | 21/28 | €393,353 | €450,633 | +€57,280 | +14.6% |
| Tangible fixed assets | 22/27 | €393,353 | €450,633 | +€57,280 | +14.6% |
| Land and buildings | 22 | €374,381 | €365,091 | -€9,291 | -2.5% |
| Plant, machinery and equipment | 23 | €2,760 | €2,098 | -€662 | -24.0% |
| Furniture and vehicles | 24 | €1,668 | €70,732 | +€69,064 | +4,141% |
| Other tangible fixed assets | 26 | €14,544 | €12,713 | -€1,831 | -12.6% |
| Current assets | 29/58 | €605,121 | €545,638 | -€59,482 | -9.8% |
| Amounts receivable within one year | 40/41 | €142,638 | €40,576 | -€102,061 | -71.6% |
| Trade receivables | 40 | €90,301 | €40,576 | -€49,724 | -55.1% |
| Other amounts receivable | 41 | €52,337 | €0 | -€52,337 | -100% |
| Current investments | 50/53 | €355,714 | €295,338 | -€60,376 | -17.0% |
| Cash at bank and in hand | 54/58 | €103,400 | €204,265 | +€100,865 | +97.5% |
| Deferred charges and accrued income | 490/1 | €3,370 | €5,459 | +€2,090 | +62.0% |
| Total equity and liabilities | 10/49 | €998,474 | €996,272 | -€2,202 | -0.2% |
| Equity | 10/15 | €641,031 | €910,236 | +€269,205 | +42.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €636,031 | €905,236 | +€269,205 | +42.3% |
| Tax-exempt reserves | 132 | €340 | €340 | = | 0.0% |
| Distributable reserves | 133 | €635,691 | €904,896 | +€269,205 | +42.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €357,443 | €86,035 | -€271,407 | -75.9% |
| Amounts payable within one year | 42/48 | €357,443 | €86,035 | -€271,407 | -75.9% |
| Trade debts | 44 | €2,242 | €2,000 | -€242 | -10.8% |
| Suppliers | 440/4 | €2,242 | €2,000 | -€242 | -10.8% |
| Taxes, remuneration and social security | 45 | €28,021 | €80,826 | +€52,805 | +188% |
| Taxes | 450/3 | €28,021 | €80,826 | +€52,805 | +188% |
| Other amounts payable | 47/48 | €327,179 | €3,209 | -€323,970 | -99.0% |
| Non-recurring operating income | 76A | - | €9,060 | +€9,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,327 | €16,575 | +€2,248 | +15.7% |
| Other operating charges | 640/8 | €1,855 | €2,660 | +€804 | +43.4% |
| Gross operating margin | 9900 | €440,731 | €512,656 | +€71,925 | +16.3% |
| Operating profit (loss) | 9901 | €424,548 | €493,421 | +€68,873 | +16.2% |
| Financial income | 75/76B | €46,873 | €63,244 | +€16,370 | +34.9% |
| Recurring financial income | 75 | €46,873 | €63,244 | +€16,370 | +34.9% |
| Financial charges | 65/66B | €38,990 | €11,857 | -€27,133 | -69.6% |
| Recurring financial charges | 65 | €38,990 | €11,857 | -€27,133 | -69.6% |
| Profit (loss) for the period before taxes | 9903 | €432,432 | €544,808 | +€112,376 | +26.0% |
| Income taxes | 67/77 | €109,448 | €155,603 | +€46,155 | +42.2% |
| Profit (loss) for the period | 9904 | €322,983 | €389,205 | +€66,222 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €322,983 | €389,205 | +€66,222 | +20.5% |
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 18 October 2026 via checked.be.