Dirk Claessens: 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.
Dirk Claessens
Largest movements
- Intangible fixed assets -€12,218
down €12,218 (-25.1%), from €48,629 to €36,411
- Stocks and contracts +€6,866
up €6,866 (+152.6%), from €4,500 to €11,366
- Cash +€2,917
new in 2026: €2,917
mainly Investment in fixed assets (net) (+€7,218) and Other debts (+€5,604)
- Receivables within one year -€1,242
down €1,242 (-14.0%), from €8,854 to €7,613
of which Other amounts receivable: -€669
- Debts after one year -€7,058
down €7,058 (-22.1%), from €31,879 to €24,820
- Other debts +€5,604
up €5,604 (+24.0%), from €23,360 to €28,963
- Profit (loss) carried forward -€5,122
down €5,122 (-48.3%), from -€10,607 to -€15,730
- Short-term financial debts +€1,498
up €1,498 (+21.2%), from €7,059 to €8,557
of which Credit institutions: +€1,628
- Depreciation -€3,785
down €3,785 (-41.8%), from €9,057 to €5,272
- Financial charges -€2,714
down €2,714 (-53.8%), from €5,044 to €2,330
- Gross operating margin -€1,063
down €1,063 (-25.5%), from €4,176 to €3,113
- Other operating charges -€163
down €163 (-23.8%), from €682 to €520
- Financial income +€105
new in 2026: €105
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 | €63,198 | €58,959 | -€4,240 | -6.7% |
| Fixed assets | 21/28 | €49,553 | €37,063 | -€12,490 | -25.2% |
| Intangible fixed assets | 21 | €48,629 | €36,411 | -€12,218 | -25.1% |
| Tangible fixed assets | 22/27 | €924 | €652 | -€272 | -29.4% |
| Furniture and vehicles | 24 | €924 | €652 | -€272 | -29.4% |
| Current assets | 29/58 | €13,645 | €21,896 | +€8,251 | +60.5% |
| Stocks and contracts in progress | 3 | €4,500 | €11,366 | +€6,866 | +152.6% |
| Stocks | 30/36 | €4,500 | €11,366 | +€6,866 | +152.6% |
| Amounts receivable within one year | 40/41 | €8,854 | €7,613 | -€1,242 | -14.0% |
| Trade receivables | 40 | €7,596 | €7,024 | -€572 | -7.5% |
| Other amounts receivable | 41 | €1,258 | €589 | -€669 | -53.2% |
| Cash at bank and in hand | 54/58 | - | €2,917 | +€2,917 | |
| Deferred charges and accrued income | 490/1 | €291 | €0 | -€291 | -100.0% |
| Total equity and liabilities | 10/49 | €63,198 | €58,959 | -€4,240 | -6.7% |
| Equity | 10/15 | -€8,607 | -€13,730 | -€5,122 | -59.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,607 | -€15,730 | -€5,122 | -48.3% |
| Amounts payable | 17/49 | €71,805 | €72,688 | +€883 | +1.2% |
| Amounts payable after more than one year | 17 | €31,879 | €24,820 | -€7,058 | -22.1% |
| Financial debts | 170/4 | €31,879 | €24,820 | -€7,058 | -22.1% |
| Amounts payable within one year | 42/48 | €39,927 | €47,868 | +€7,941 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €6,803 | €7,058 | +€255 | +3.8% |
| Financial debts | 43 | €7,059 | €8,557 | +€1,498 | +21.2% |
| Credit institutions | 430/8 | €6,929 | €8,557 | +€1,628 | +23.5% |
| Other loans | 439 | €130 | €0 | -€130 | -100.0% |
| Trade debts | 44 | €2,689 | €3,098 | +€409 | +15.2% |
| Suppliers | 440/4 | €2,689 | €3,098 | +€409 | +15.2% |
| Taxes, remuneration and social security | 45 | €16 | €191 | +€175 | +1096.6% |
| Taxes | 450/3 | €16 | €191 | +€175 | +1096.6% |
| Other amounts payable | 47/48 | €23,360 | €28,963 | +€5,604 | +24.0% |
| Non-recurring operating income | 76A | - | €701 | +€701 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,057 | €5,272 | -€3,785 | -41.8% |
| Other operating charges | 640/8 | €682 | €520 | -€163 | -23.8% |
| Non-recurring operating charges | 66A | - | €218 | +€218 | |
| Gross operating margin | 9900 | €4,176 | €3,113 | -€1,063 | -25.5% |
| Operating profit (loss) | 9901 | -€5,563 | -€2,897 | +€2,666 | +47.9% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €5,044 | €2,330 | -€2,714 | -53.8% |
| Recurring financial charges | 65 | €5,044 | €2,330 | -€2,714 | -53.8% |
| Profit (loss) for the period before taxes | 9903 | -€10,607 | -€5,122 | +€5,485 | +51.7% |
| Profit (loss) for the period | 9904 | -€10,607 | -€5,122 | +€5,485 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,607 | -€5,122 | +€5,485 | +51.7% |
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 5 October 2026 via checked.be.