Competence@Work: 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.
Competence@Work
Largest movements
- Tangible fixed assets +€153,410
up €153,410 (+275%), from €55,818 to €209,228
of which Land and buildings: +€161,514
- Cash -€42,910
down €42,910 (-39.7%), from €107,975 to €65,065
mainly Investment in fixed assets (net) (-€172,386) and Receivables within one year (-€31,152)
- Receivables within one year +€31,152
up €31,152 (+31.6%), from €98,501 to €129,653
of which Trade receivables: +€29,916
- Debts after one year +€99,128
up €99,128 (+345%), from €28,723 to €127,851
- Short-term financial debts +€31,567
up €31,567 (+245%), from €12,906 to €44,473
of which Other loans: +€25,000
- Reserves +€23,467
up €23,467 (+13.0%), from €180,757 to €204,224
of which Distributable reserves: +€23,467
- Trade debts -€5,705
no longer reported in 2026 (was €5,705)
- Tax, wage and social debts -€5,292
down €5,292 (-20.6%), from €25,743 to €20,451
- Purchases and services -€33,595
down €33,595 (-21.1%), from €158,964 to €125,369
- Gross operating margin +€27,535
up €27,535 (+12.1%), from €227,682 to €255,217
- Other operating charges +€25,773
up €25,773 (+2,295%), from €1,123 to €26,896
- Turnover -€5,107
down €5,107 (-1.4%), from €365,580 to €360,473
- Taxes -€4,554
down €4,554 (-24.2%), from €18,851 to €14,297
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 | €262,294 | €405,459 | +€143,165 | +54.6% |
| Fixed assets | 21/28 | €55,818 | €209,228 | +€153,410 | +275% |
| Tangible fixed assets | 22/27 | €55,818 | €209,228 | +€153,410 | +275% |
| Land and buildings | 22 | - | €161,514 | +€161,514 | |
| Plant, machinery and equipment | 23 | €4,445 | €11,832 | +€7,387 | +166% |
| Furniture and vehicles | 24 | €51,373 | €35,882 | -€15,491 | -30.2% |
| Current assets | 29/58 | €206,476 | €196,231 | -€10,245 | -5.0% |
| Amounts receivable within one year | 40/41 | €98,501 | €129,653 | +€31,152 | +31.6% |
| Trade receivables | 40 | €98,498 | €128,414 | +€29,916 | +30.4% |
| Other amounts receivable | 41 | €3 | €1,239 | +€1,236 | +41,200% |
| Cash at bank and in hand | 54/58 | €107,975 | €65,065 | -€42,910 | -39.7% |
| Deferred charges and accrued income | 490/1 | - | €1,513 | +€1,513 | |
| Total equity and liabilities | 10/49 | €262,294 | €405,459 | +€143,165 | +54.6% |
| Equity | 10/15 | €189,217 | €212,684 | +€23,467 | +12.4% |
| Contributions | 10/11 | €8,460 | €8,460 | = | 0.0% |
| Reserves | 13 | €180,757 | €204,224 | +€23,467 | +13.0% |
| Tax-exempt reserves | 132 | €2,665 | €2,665 | = | 0.0% |
| Distributable reserves | 133 | €178,092 | €201,559 | +€23,467 | +13.2% |
| Amounts payable | 17/49 | €73,077 | €192,775 | +€119,698 | +164% |
| Amounts payable after more than one year | 17 | €28,723 | €127,851 | +€99,128 | +345% |
| Financial debts | 170/4 | €28,723 | €127,851 | +€99,128 | +345% |
| Amounts payable within one year | 42/48 | €44,354 | €64,924 | +€20,570 | +46.4% |
| Financial debts | 43 | €12,906 | €44,473 | +€31,567 | +245% |
| Credit institutions | 430/8 | €12,906 | €19,473 | +€6,567 | +50.9% |
| Other loans | 439 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €5,705 | - | -€5,705 | |
| Suppliers | 440/4 | €5,705 | - | -€5,705 | |
| Taxes, remuneration and social security | 45 | €25,743 | €20,451 | -€5,292 | -20.6% |
| Taxes | 450/3 | €25,743 | €20,451 | -€5,292 | -20.6% |
| Turnover | 70 | €365,580 | €360,473 | -€5,107 | -1.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €158,964 | €125,369 | -€33,595 | -21.1% |
| Remuneration, social security and pensions | 62 | €134,916 | €133,993 | -€923 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,710 | €18,976 | +€266 | +1.4% |
| Other operating charges | 640/8 | €1,123 | €26,896 | +€25,773 | +2,295% |
| Non-recurring operating charges | 66A | - | €32,445 | +€32,445 | |
| Gross operating margin | 9900 | €227,682 | €255,217 | +€27,535 | +12.1% |
| Operating profit (loss) | 9901 | €72,933 | €42,907 | -€30,026 | -41.2% |
| Financial income | 75/76B | €0 | €114 | +€114 | |
| Recurring financial income | 75 | €0 | €114 | +€114 | |
| Financial charges | 65/66B | €2,782 | €5,257 | +€2,475 | +89.0% |
| Recurring financial charges | 65 | €2,782 | €5,257 | +€2,475 | +89.0% |
| Profit (loss) for the period before taxes | 9903 | €70,151 | €37,764 | -€32,387 | -46.2% |
| Income taxes | 67/77 | €18,851 | €14,297 | -€4,554 | -24.2% |
| Profit (loss) for the period | 9904 | €51,300 | €23,467 | -€27,833 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,300 | €23,467 | -€27,833 | -54.3% |
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.