de mandato: 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.
de mandato
Largest movements
- Cash +€315,584
up €315,584 (+133.8%), from €235,829 to €551,413
mainly Current investments (+€265,706) and Other debts (+€125,068)
- Current investments -€265,706
down €265,706 (-84.3%), from €315,231 to €49,525
- Receivables within one year +€14,845
up €14,845 (+67.5%), from €21,982 to €36,828
of which Trade receivables: +€18,560
- Other debts +€125,068
up €125,068 (+2101.2%), from €5,952 to €131,020
- Reserves -€53,903
down €53,903 (-17.3%), from €312,034 to €258,131
- Tax, wage and social debts +€20,004
up €20,004 (+266.2%), from €7,516 to €27,520
- Debts after one year -€16,165
down €16,165 (-56.4%), from €28,636 to €12,471
- Gross operating margin +€37,366
up €37,366 (+43.8%), from €85,273 to €122,639
- Financial charges +€22,180
up €22,180, from -€20,299 to €1,881
- Taxes +€13,532
up €13,532 (+48.2%), from €28,084 to €41,617
- Financial income +€10,150
up €10,150 (+284.7%), from €3,565 to €13,715
- Depreciation +€2,036
up €2,036 (+33.3%), from €6,119 to €8,155
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.
Cash bridge derived
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 | €764,710 | €836,847 | +€72,136 | +9.4% |
| Fixed assets | 21/28 | €187,965 | €196,021 | +€8,056 | +4.3% |
| Tangible fixed assets | 22/27 | €187,965 | €196,021 | +€8,056 | +4.3% |
| Land and buildings | 22 | €121,474 | €116,085 | -€5,389 | -4.4% |
| Furniture and vehicles | 24 | €491 | €6,686 | +€6,195 | +1262.8% |
| Other tangible fixed assets | 26 | €66,000 | €73,250 | +€7,250 | +11.0% |
| Current assets | 29/58 | €576,746 | €640,826 | +€64,080 | +11.1% |
| Amounts receivable within one year | 40/41 | €21,982 | €36,828 | +€14,845 | +67.5% |
| Trade receivables | 40 | €15,640 | €34,200 | +€18,560 | +118.7% |
| Other amounts receivable | 41 | €6,342 | €2,628 | -€3,715 | -58.6% |
| Current investments | 50/53 | €315,231 | €49,525 | -€265,706 | -84.3% |
| Cash at bank and in hand | 54/58 | €235,829 | €551,413 | +€315,584 | +133.8% |
| Deferred charges and accrued income | 490/1 | €3,703 | €3,060 | -€643 | -17.4% |
| Total equity and liabilities | 10/49 | €764,710 | €836,847 | +€72,136 | +9.4% |
| Equity | 10/15 | €702,841 | €648,938 | -€53,903 | -7.7% |
| Contributions | 10/11 | €23,928 | €23,928 | = | 0.0% |
| Reserves | 13 | €312,034 | €258,131 | -€53,903 | -17.3% |
| Distributable reserves | 133 | €312,034 | €258,131 | -€53,903 | -17.3% |
| Profit (loss) carried forward | 14 | €366,879 | €366,879 | = | 0.0% |
| Amounts payable | 17/49 | €61,870 | €187,909 | +€126,039 | +203.7% |
| Amounts payable after more than one year | 17 | €28,636 | €12,471 | -€16,165 | -56.4% |
| Financial debts | 170/4 | €28,636 | €12,471 | -€16,165 | -56.4% |
| Amounts payable within one year | 42/48 | €33,234 | €175,437 | +€142,204 | +427.9% |
| Current portion of amounts payable after more than one year | 42 | €15,650 | €16,165 | +€515 | +3.3% |
| Financial debts | 43 | €1,827 | €0 | -€1,827 | -100.0% |
| Credit institutions | 430/8 | €1,827 | €0 | -€1,827 | -100.0% |
| Trade debts | 44 | €2,289 | €733 | -€1,556 | -68.0% |
| Suppliers | 440/4 | €2,289 | €733 | -€1,556 | -68.0% |
| Taxes, remuneration and social security | 45 | €7,516 | €27,520 | +€20,004 | +266.2% |
| Taxes | 450/3 | €7,516 | €27,520 | +€20,004 | +266.2% |
| Other amounts payable | 47/48 | €5,952 | €131,020 | +€125,068 | +2101.2% |
| Non-recurring operating income | 76A | €6,000 | €0 | -€6,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,119 | €8,155 | +€2,036 | +33.3% |
| Other operating charges | 640/8 | €2,275 | €2,057 | -€218 | -9.6% |
| Gross operating margin | 9900 | €85,273 | €122,639 | +€37,366 | +43.8% |
| Operating profit (loss) | 9901 | €76,880 | €112,427 | +€35,548 | +46.2% |
| Financial income | 75/76B | €3,565 | €13,715 | +€10,150 | +284.7% |
| Recurring financial income | 75 | €3,565 | €13,715 | +€10,150 | +284.7% |
| Financial charges | 65/66B | -€20,299 | €1,881 | +€22,180 | |
| Recurring financial charges | 65 | -€20,299 | €1,881 | +€22,180 | |
| Profit (loss) for the period before taxes | 9903 | €100,744 | €124,262 | +€23,518 | +23.3% |
| Income taxes | 67/77 | €28,084 | €41,617 | +€13,532 | +48.2% |
| Profit (loss) for the period | 9904 | €72,660 | €82,645 | +€9,985 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,660 | €82,645 | +€9,985 | +13.7% |
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 11 October 2026 via checked.be.