DEBECONSTRUCT: what changed
Two fiscal 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.
DEBECONSTRUCT
Largest movements
- Receivables after one year -€35,668
down €35,668 (-71.4%), from €49,966 to €14,298
- Cash -€19,208
down €19,208 (-39.7%), from €48,326 to €29,118
mainly Contributions, distributions and other (-€108,335) and Investment in fixed assets (net) (-€2,688)
- Receivables within one year -€18,235
down €18,235 (-36.3%), from €50,290 to €32,055
of which Trade receivables: -€27,333
- Reserves -€92,569
down €92,569 (-85.4%), from €108,335 to €15,766
- Debts after one year +€14,752
up €14,752 (+294.8%), from €5,004 to €19,755
- Short-term financial debts +€8,665
new in 2026: €8,665
- Tax, wage and social debts -€2,577
down €2,577 (-19.4%), from €13,253 to €10,676
- Other debts -€1,718
down €1,718 (-100.0%), from €1,718 to €0
- Gross operating margin -€37,364
down €37,364 (-58.6%), from €63,734 to €26,370
- Taxes -€7,956
down €7,956 (-57.4%), from €13,868 to €5,912
- Financial charges +€2,499
up €2,499 (+3367.0%), from €74 to €2,573
- Depreciation +€2,036
up €2,036 (+169.7%), from €1,200 to €3,236
- Financial income -€1,767
down €1,767 (-50.3%), from €3,515 to €1,748
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 | €154,740 | €81,889 | -€72,851 | -47.1% |
| Fixed assets | 21/28 | €5,493 | €4,945 | -€548 | -10.0% |
| Tangible fixed assets | 22/27 | €5,493 | €4,945 | -€548 | -10.0% |
| Furniture and vehicles | 24 | €5,493 | €4,945 | -€548 | -10.0% |
| Current assets | 29/58 | €149,246 | €76,944 | -€72,303 | -48.4% |
| Amounts receivable after more than one year | 29 | €49,966 | €14,298 | -€35,668 | -71.4% |
| Other amounts receivable | 291 | €49,966 | €14,298 | -€35,668 | -71.4% |
| Amounts receivable within one year | 40/41 | €50,290 | €32,055 | -€18,235 | -36.3% |
| Trade receivables | 40 | €50,290 | €22,957 | -€27,333 | -54.4% |
| Other amounts receivable | 41 | €0 | €9,098 | +€9,098 | |
| Cash at bank and in hand | 54/58 | €48,326 | €29,118 | -€19,208 | -39.7% |
| Deferred charges and accrued income | 490/1 | €665 | €1,473 | +€808 | +121.5% |
| Total equity and liabilities | 10/49 | €154,740 | €81,889 | -€72,851 | -47.1% |
| Equity | 10/15 | €128,335 | €35,766 | -€92,569 | -72.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €108,335 | €15,766 | -€92,569 | -85.4% |
| Distributable reserves | 133 | €108,335 | €15,766 | -€92,569 | -85.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €26,405 | €46,123 | +€19,718 | +74.7% |
| Amounts payable after more than one year | 17 | €5,004 | €19,755 | +€14,752 | +294.8% |
| Other amounts payable | 178/9 | €5,004 | €19,755 | +€14,752 | +294.8% |
| Amounts payable within one year | 42/48 | €21,249 | €26,213 | +€4,964 | +23.4% |
| Financial debts | 43 | - | €8,665 | +€8,665 | |
| Credit institutions | 430/8 | - | €8,665 | +€8,665 | |
| Trade debts | 44 | €6,278 | €6,871 | +€593 | +9.5% |
| Suppliers | 440/4 | €6,278 | €6,871 | +€593 | +9.5% |
| Taxes, remuneration and social security | 45 | €13,253 | €10,676 | -€2,577 | -19.4% |
| Taxes | 450/3 | €13,253 | €10,676 | -€2,577 | -19.4% |
| Other amounts payable | 47/48 | €1,718 | €0 | -€1,718 | -100.0% |
| Accrued charges and deferred income | 492/3 | €152 | €155 | +€2 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,200 | €3,236 | +€2,036 | +169.7% |
| Other operating charges | 640/8 | €622 | €630 | +€8 | +1.3% |
| Gross operating margin | 9900 | €63,734 | €26,370 | -€37,364 | -58.6% |
| Operating profit (loss) | 9901 | €61,913 | €22,504 | -€39,409 | -63.7% |
| Financial income | 75/76B | €3,515 | €1,748 | -€1,767 | -50.3% |
| Recurring financial income | 75 | €3,515 | €1,748 | -€1,767 | -50.3% |
| Financial charges | 65/66B | €74 | €2,573 | +€2,499 | +3367.0% |
| Recurring financial charges | 65 | €74 | €2,573 | +€2,499 | +3367.0% |
| Profit (loss) for the period before taxes | 9903 | €65,353 | €21,678 | -€43,675 | -66.8% |
| Income taxes | 67/77 | €13,868 | €5,912 | -€7,956 | -57.4% |
| Profit (loss) for the period | 9904 | €51,485 | €15,766 | -€35,719 | -69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,485 | €15,766 | -€35,719 | -69.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.