DANNY GONNISSEN: 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.
DANNY GONNISSEN
Largest movements
- Current investments +€72,903
up €72,903 (+26.7%), from €272,674 to €345,578
- Financial fixed assets +€51,978
up €51,978 (+61.3%), from €84,752 to €136,730
- Receivables within one year -€41,074
down €41,074 (-69.8%), from €58,821 to €17,747
of which Other amounts receivable: -€40,541
- Tangible fixed assets -€10,817
down €10,817 (-40.6%), from €26,667 to €15,850
of which Furniture and vehicles: -€10,189
- Profit (loss) carried forward +€125,025
new in 2026: €125,025
- Reserves -€50,224
down €50,224 (-11.5%), from €437,563 to €387,339
of which Distributable reserves: -€47,807
- Other debts +€6,452
new in 2026: €6,452
- Gross operating margin +€26,735
up €26,735 (+17.4%), from €153,784 to €180,519
- Taxes +€3,220
up €3,220 (+7.4%), from €43,355 to €46,575
- Financial income +€2,364
up €2,364 (+73.6%), from €3,211 to €5,575
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 | €466,508 | €544,485 | +€77,977 | +16.7% |
| Fixed assets | 21/28 | €111,419 | €152,580 | +€41,161 | +36.9% |
| Tangible fixed assets | 22/27 | €26,667 | €15,850 | -€10,817 | -40.6% |
| Plant, machinery and equipment | 23 | €2,511 | €1,989 | -€522 | -20.8% |
| Furniture and vehicles | 24 | €23,471 | €13,282 | -€10,189 | -43.4% |
| Other tangible fixed assets | 26 | €685 | €580 | -€105 | -15.4% |
| Financial fixed assets | 28 | €84,752 | €136,730 | +€51,978 | +61.3% |
| Current assets | 29/58 | €355,089 | €391,905 | +€36,815 | +10.4% |
| Amounts receivable within one year | 40/41 | €58,821 | €17,747 | -€41,074 | -69.8% |
| Trade receivables | 40 | €18,280 | €17,747 | -€533 | -2.9% |
| Other amounts receivable | 41 | €40,541 | - | -€40,541 | |
| Current investments | 50/53 | €272,674 | €345,578 | +€72,903 | +26.7% |
| Cash at bank and in hand | 54/58 | €22,297 | €27,299 | +€5,002 | +22.4% |
| Deferred charges and accrued income | 490/1 | €1,298 | €1,282 | -€16 | -1.2% |
| Total equity and liabilities | 10/49 | €466,508 | €544,485 | +€77,977 | +16.7% |
| Equity | 10/15 | €437,563 | €512,363 | +€74,800 | +17.1% |
| Reserves | 13 | €437,563 | €387,339 | -€50,224 | -11.5% |
| Tax-exempt reserves | 132 | €5,543 | €3,126 | -€2,417 | -43.6% |
| Distributable reserves | 133 | €432,020 | €384,213 | -€47,807 | -11.1% |
| Profit (loss) carried forward | 14 | - | €125,025 | +€125,025 | |
| Provisions and deferred taxes | 16 | €1,848 | €1,042 | -€806 | -43.6% |
| Deferred taxes | 168 | €1,848 | €1,042 | -€806 | -43.6% |
| Amounts payable | 17/49 | €27,098 | €31,080 | +€3,982 | +14.7% |
| Amounts payable within one year | 42/48 | €22,455 | €26,538 | +€4,083 | +18.2% |
| Trade debts | 44 | €605 | €3,440 | +€2,834 | +468% |
| Suppliers | 440/4 | €605 | €3,440 | +€2,834 | +468% |
| Taxes, remuneration and social security | 45 | €21,850 | €16,646 | -€5,204 | -23.8% |
| Taxes | 450/3 | €21,850 | €16,646 | -€5,204 | -23.8% |
| Other amounts payable | 47/48 | - | €6,452 | +€6,452 | |
| Accrued charges and deferred income | 492/3 | €4,642 | €4,542 | -€101 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,913 | €10,817 | -€96 | -0.9% |
| Other operating charges | 640/8 | €2,421 | €3,946 | +€1,525 | +63.0% |
| Gross operating margin | 9900 | €153,784 | €180,519 | +€26,735 | +17.4% |
| Operating profit (loss) | 9901 | €140,450 | €165,757 | +€25,307 | +18.0% |
| Financial income | 75/76B | €3,211 | €5,575 | +€2,364 | +73.6% |
| Recurring financial income | 75 | €3,211 | €5,575 | +€2,364 | +73.6% |
| Financial charges | 65/66B | €1,528 | €2,955 | +€1,426 | +93.3% |
| Recurring financial charges | 65 | €1,528 | €2,955 | +€1,426 | +93.3% |
| Profit (loss) for the period before taxes | 9903 | €142,133 | €168,377 | +€26,244 | +18.5% |
| Transfer from deferred taxes | 780 | €806 | €806 | -€0 | 0.0% |
| Income taxes | 67/77 | €43,355 | €46,575 | +€3,220 | +7.4% |
| Profit (loss) for the period | 9904 | €99,583 | €122,607 | +€23,024 | +23.1% |
| Transfer from tax-exempt reserves | 789 | €2,417 | €2,417 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,000 | €125,025 | +€23,024 | +22.6% |
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 25 October 2026 via checked.be.