Dr. Evelien Heireman: what changed
Dr. Evelien Heireman
Largest movements
- Cash +€55,778
up €55,778 (+774%), from €7,208 to €62,986
mainly Net result for the year (+€53,413) and Depreciation (+€7,005)
- Receivables within one year +€8,071
new in 2026: €8,071
of which Other amounts receivable: +€7,743
- Tangible fixed assets -€5,432
down €5,432 (-17.3%), from €31,327 to €25,895
of which Other tangible fixed assets: -€5,219
- Deferred charges and accrued income -€2,053
down €2,053 (-62.8%), from €3,269 to €1,216
- Reserves +€52,580
up €52,580 (+198%), from €26,555 to €79,135
- Tax, wage and social debts +€3,240
up €3,240 (+30.7%), from €10,555 to €13,795
- Trade debts +€2,141
up €2,141 (+810%), from €264 to €2,406
- Accrued charges and deferred income -€1,032
down €1,032 (-100%), from €1,032 to €0
- Gross operating margin +€34,422
up €34,422 (+83.2%), from €41,356 to €75,778
- Taxes +€4,487
up €4,487 (+48.2%), from €9,308 to €13,795
- Depreciation +€2,175
up €2,175 (+45.0%), from €4,830 to €7,005
- Other operating charges +€978
up €978 (+256%), from €383 to €1,361
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €41,804 | €98,168 | +€56,364 | +135% |
| Fixed assets | 21/28 | €31,327 | €25,895 | -€5,432 | -17.3% |
| Tangible fixed assets | 22/27 | €31,327 | €25,895 | -€5,432 | -17.3% |
| Plant, machinery and equipment | 23 | €6,001 | €4,764 | -€1,237 | -20.6% |
| Furniture and vehicles | 24 | - | €1,024 | +€1,024 | |
| Other tangible fixed assets | 26 | €25,326 | €20,107 | -€5,219 | -20.6% |
| Current assets | 29/58 | €10,478 | €72,273 | +€61,796 | +590% |
| Amounts receivable within one year | 40/41 | - | €8,071 | +€8,071 | |
| Trade receivables | 40 | - | €328 | +€328 | |
| Other amounts receivable | 41 | - | €7,743 | +€7,743 | |
| Cash at bank and in hand | 54/58 | €7,208 | €62,986 | +€55,778 | +774% |
| Deferred charges and accrued income | 490/1 | €3,269 | €1,216 | -€2,053 | -62.8% |
| Total equity and liabilities | 10/49 | €41,804 | €98,168 | +€56,364 | +135% |
| Equity | 10/15 | €28,555 | €81,135 | +€52,580 | +184% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,555 | €79,135 | +€52,580 | +198% |
| Distributable reserves | 133 | €26,555 | €79,135 | +€52,580 | +198% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,249 | €17,034 | +€3,784 | +28.6% |
| Amounts payable within one year | 42/48 | €12,217 | €17,034 | +€4,816 | +39.4% |
| Trade debts | 44 | €264 | €2,406 | +€2,141 | +810% |
| Suppliers | 440/4 | €264 | €2,406 | +€2,141 | +810% |
| Taxes, remuneration and social security | 45 | €10,555 | €13,795 | +€3,240 | +30.7% |
| Taxes | 450/3 | €10,555 | €13,795 | +€3,240 | +30.7% |
| Other amounts payable | 47/48 | €1,398 | €833 | -€565 | -40.4% |
| Accrued charges and deferred income | 492/3 | €1,032 | €0 | -€1,032 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,830 | €7,005 | +€2,175 | +45.0% |
| Other operating charges | 640/8 | €383 | €1,361 | +€978 | +256% |
| Gross operating margin | 9900 | €41,356 | €75,778 | +€34,422 | +83.2% |
| Operating profit (loss) | 9901 | €36,144 | €67,413 | +€31,270 | +86.5% |
| Financial income | 75/76B | - | €315 | +€315 | |
| Recurring financial income | 75 | - | €315 | +€315 | |
| Financial charges | 65/66B | €281 | €521 | +€240 | +85.4% |
| Recurring financial charges | 65 | €281 | €521 | +€240 | +85.4% |
| Profit (loss) for the period before taxes | 9903 | €35,863 | €67,208 | +€31,345 | +87.4% |
| Income taxes | 67/77 | €9,308 | €13,795 | +€4,487 | +48.2% |
| Profit (loss) for the period | 9904 | €26,555 | €53,413 | +€26,858 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €26,555 | €53,413 | +€26,858 | +101% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.