DOWNTOWN: 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.
DOWNTOWN
Largest movements
- Stocks and contracts +€83,459
up €83,459 (+16.2%), from €514,243 to €597,702
- Receivables within one year -€17,577
down €17,577 (-88.1%), from €19,943 to €2,366
of which Trade receivables: -€17,896
- Trade debts +€52,186
up €52,186 (+32.3%), from €161,447 to €213,634
- Debts after one year -€46,775
down €46,775 (-25.7%), from €182,207 to €135,432
of which Financial debts: -€46,775
- Current portion of long-term debt -€40,145
down €40,145 (-45.1%), from €88,927 to €48,782
- Profit (loss) carried forward +€37,989
up €37,989, from -€37,989 to €0
- Short-term financial debts +€30,391
up €30,391 (+40.5%), from €75,000 to €105,391
- Gross operating margin -€57,779
down €57,779 (-17.8%), from €325,351 to €267,572
- Write-downs -€53,343
down €53,343, from €49,583 to -€3,760
- Depreciation -€41,223
down €41,223 (-81.4%), from €50,673 to €9,450
- Staff costs +€23,666
up €23,666 (+15.9%), from €148,402 to €172,069
- Taxes +€16,402
up €16,402 (+8203.6%), from €200 to €16,602
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 | €574,221 | €636,156 | +€61,934 | +10.8% |
| Fixed assets | 21/28 | €17,947 | €11,943 | -€6,004 | -33.5% |
| Tangible fixed assets | 22/27 | €17,947 | €11,943 | -€6,004 | -33.5% |
| Furniture and vehicles | 24 | €10,345 | €10,827 | +€482 | +4.7% |
| Other tangible fixed assets | 26 | €7,602 | €1,116 | -€6,487 | -85.3% |
| Current assets | 29/58 | €556,274 | €624,213 | +€67,939 | +12.2% |
| Stocks and contracts in progress | 3 | €514,243 | €597,702 | +€83,459 | +16.2% |
| Stocks | 30/36 | €514,243 | €597,702 | +€83,459 | +16.2% |
| Amounts receivable within one year | 40/41 | €19,943 | €2,366 | -€17,577 | -88.1% |
| Trade receivables | 40 | €19,943 | €2,047 | -€17,896 | -89.7% |
| Other amounts receivable | 41 | €0 | €319 | +€319 | |
| Cash at bank and in hand | 54/58 | €14,806 | €17,145 | +€2,339 | +15.8% |
| Deferred charges and accrued income | 490/1 | €7,282 | €6,999 | -€282 | -3.9% |
| Total equity and liabilities | 10/49 | €574,221 | €636,156 | +€61,934 | +10.8% |
| Equity | 10/15 | €21,850 | €73,680 | +€51,830 | +237.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €34,839 | €48,680 | +€13,841 | +39.7% |
| Tax-exempt reserves | 132 | €444 | €444 | = | 0.0% |
| Distributable reserves | 133 | €34,396 | €48,236 | +€13,841 | +40.2% |
| Profit (loss) carried forward | 14 | -€37,989 | €0 | +€37,989 | |
| Amounts payable | 17/49 | €552,372 | €562,476 | +€10,104 | +1.8% |
| Amounts payable after more than one year | 17 | €182,207 | €135,432 | -€46,775 | -25.7% |
| Financial debts | 170/4 | €142,207 | €95,432 | -€46,775 | -32.9% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €369,265 | €424,373 | +€55,107 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €88,927 | €48,782 | -€40,145 | -45.1% |
| Financial debts | 43 | €75,000 | €105,391 | +€30,391 | +40.5% |
| Credit institutions | 430/8 | €75,000 | €105,391 | +€30,391 | +40.5% |
| Trade debts | 44 | €161,447 | €213,634 | +€52,186 | +32.3% |
| Suppliers | 440/4 | €161,447 | €213,634 | +€52,186 | +32.3% |
| Taxes, remuneration and social security | 45 | €40,338 | €51,516 | +€11,178 | +27.7% |
| Taxes | 450/3 | €26,682 | €34,430 | +€7,748 | +29.0% |
| Remuneration and social security | 454/9 | €13,656 | €17,086 | +€3,430 | +25.1% |
| Other amounts payable | 47/48 | €3,553 | €5,049 | +€1,497 | +42.1% |
| Accrued charges and deferred income | 492/3 | €900 | €2,672 | +€1,772 | +196.9% |
| Remuneration, social security and pensions | 62 | €148,402 | €172,069 | +€23,666 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,673 | €9,450 | -€41,223 | -81.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €49,583 | -€3,760 | -€53,343 | |
| Other operating charges | 640/8 | €1,588 | €1,914 | +€326 | +20.5% |
| Gross operating margin | 9900 | €325,351 | €267,572 | -€57,779 | -17.8% |
| Operating profit (loss) | 9901 | €75,105 | €87,900 | +€12,795 | +17.0% |
| Financial income | 75/76B | €2,928 | €123 | -€2,805 | -95.8% |
| Recurring financial income | 75 | €2,928 | €123 | -€2,805 | -95.8% |
| Financial charges | 65/66B | €16,899 | €18,281 | +€1,382 | +8.2% |
| Recurring financial charges | 65 | €16,899 | €18,281 | +€1,382 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €61,134 | €69,742 | +€8,608 | +14.1% |
| Income taxes | 67/77 | €200 | €16,602 | +€16,402 | +8203.6% |
| Profit (loss) for the period | 9904 | €60,934 | €53,140 | -€7,795 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,934 | €53,140 | -€7,795 | -12.8% |
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 9 October 2026 via checked.be.