Daniel Goeleven: 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.
Daniel Goeleven
Largest movements
- Cash +€23,176
up €23,176 (+6.9%), from €338,272 to €361,447
mainly Deferred charges and accrued income (+€15,320) and Depreciation (+€11,249)
- Deferred charges and accrued income -€15,320
down €15,320 (-84.4%), from €18,150 to €2,830
- Receivables within one year -€7,539
down €7,539 (-26.6%), from €28,298 to €20,759
of which Trade receivables: -€17,180
- Tangible fixed assets -€4,285
down €4,285 (-38.0%), from €11,267 to €6,982
of which Furniture and vehicles: -€10,400
- Other debts -€6,328
down €6,328 (-85.3%), from €7,421 to €1,092
- Gross operating margin -€37,123
down €37,123 (-41.1%), from €90,324 to €53,201
- Taxes -€10,457
down €10,457 (-87.2%), from €11,998 to €1,541
- Staff costs -€8,627
down €8,627 (-18.5%), from €46,512 to €37,884
- Other operating charges +€3,009
up €3,009 (+2,550%), from €118 to €3,127
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 | €397,277 | €392,018 | -€5,259 | -1.3% |
| Fixed assets | 21/28 | €12,558 | €6,982 | -€5,576 | -44.4% |
| Tangible fixed assets | 22/27 | €11,267 | €6,982 | -€4,285 | -38.0% |
| Plant, machinery and equipment | 23 | - | €6,115 | +€6,115 | |
| Furniture and vehicles | 24 | €11,267 | €867 | -€10,400 | -92.3% |
| Financial fixed assets | 28 | €1,292 | - | -€1,292 | |
| Current assets | 29/58 | €384,719 | €385,036 | +€317 | +0.1% |
| Amounts receivable within one year | 40/41 | €28,298 | €20,759 | -€7,539 | -26.6% |
| Trade receivables | 40 | €26,435 | €9,255 | -€17,180 | -65.0% |
| Other amounts receivable | 41 | €1,863 | €11,504 | +€9,641 | +518% |
| Cash at bank and in hand | 54/58 | €338,272 | €361,447 | +€23,176 | +6.9% |
| Deferred charges and accrued income | 490/1 | €18,150 | €2,830 | -€15,320 | -84.4% |
| Total equity and liabilities | 10/49 | €397,277 | €392,018 | -€5,259 | -1.3% |
| Equity | 10/15 | €382,573 | €383,021 | +€449 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €363,973 | €364,421 | +€449 | +0.1% |
| Distributable reserves | 133 | €363,973 | €364,421 | +€449 | +0.1% |
| Amounts payable | 17/49 | €14,705 | €8,997 | -€5,708 | -38.8% |
| Amounts payable within one year | 42/48 | €14,705 | €8,997 | -€5,708 | -38.8% |
| Trade debts | 44 | €3,304 | €4,007 | +€703 | +21.3% |
| Suppliers | 440/4 | €3,304 | €4,007 | +€703 | +21.3% |
| Advances received on contracts in progress | 46 | €91 | - | -€91 | |
| Taxes, remuneration and social security | 45 | €3,889 | €3,897 | +€8 | +0.2% |
| Remuneration and social security | 454/9 | €3,889 | €3,897 | +€8 | +0.2% |
| Other amounts payable | 47/48 | €7,421 | €1,092 | -€6,328 | -85.3% |
| Non-recurring operating income | 76A | - | €317 | +€317 | |
| Remuneration, social security and pensions | 62 | €46,512 | €37,884 | -€8,627 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,400 | €11,249 | +€849 | +8.2% |
| Other operating charges | 640/8 | €118 | €3,127 | +€3,009 | +2,550% |
| Gross operating margin | 9900 | €90,324 | €53,201 | -€37,123 | -41.1% |
| Operating profit (loss) | 9901 | €33,294 | €941 | -€32,354 | -97.2% |
| Financial income | 75/76B | €1,767 | €1,411 | -€355 | -20.1% |
| Recurring financial income | 75 | €1,767 | €1,411 | -€355 | -20.1% |
| Financial charges | 65/66B | €417 | €362 | -€55 | -13.2% |
| Recurring financial charges | 65 | €417 | €362 | -€55 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €34,644 | €1,990 | -€32,654 | -94.3% |
| Income taxes | 67/77 | €11,998 | €1,541 | -€10,457 | -87.2% |
| Profit (loss) for the period | 9904 | €22,646 | €449 | -€22,197 | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,646 | €449 | -€22,197 | -98.0% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.