DR. J. CLEEMPUT: 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.
DR. J. CLEEMPUT
Largest movements
- Cash -€25,290
down €25,290 (-9.8%), from €257,503 to €232,213
mainly Contributions, distributions and other (-€408,000) and Investment in fixed assets (net) (-€28,834)
- Tangible fixed assets +€24,851
up €24,851 (+892%), from €2,786 to €27,637
of which Furniture and vehicles: +€24,677
- Deferred charges and accrued income -€19,932
down €19,932 (-40.2%), from €49,632 to €29,700
- Current investments +€10,848
up €10,848 (+36.0%), from €30,152 to €41,000
- Reserves -€229,266
down €229,266 (-70.8%), from €323,654 to €94,388
- Other debts +€224,912
up €224,912 (+32,691%), from €688 to €225,600
- Tax, wage and social debts -€6,520
down €6,520 (-28.9%), from €22,549 to €16,029
- Gross operating margin +€8,059
up €8,059 (+3.5%), from €229,226 to €237,286
- Depreciation +€2,947
up €2,947 (+168%), from €1,750 to €4,697
- Financial income +€2,429
new in 2026: €2,429
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.
Derived cash bridge
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 | €349,249 | €337,425 | -€11,824 | -3.4% |
| Formation expenses | 20 | €1,829 | €1,115 | -€714 | -39.0% |
| Fixed assets | 21/28 | €8,546 | €33,397 | +€24,851 | +291% |
| Tangible fixed assets | 22/27 | €2,786 | €27,637 | +€24,851 | +892% |
| Plant, machinery and equipment | 23 | €2,786 | €2,959 | +€173 | +6.2% |
| Furniture and vehicles | 24 | - | €24,677 | +€24,677 | |
| Financial fixed assets | 28 | €5,760 | €5,760 | = | 0.0% |
| Current assets | 29/58 | €338,874 | €302,913 | -€35,961 | -10.6% |
| Amounts receivable within one year | 40/41 | €1,587 | €0 | -€1,587 | -100% |
| Other amounts receivable | 41 | €1,587 | €0 | -€1,587 | -100% |
| Current investments | 50/53 | €30,152 | €41,000 | +€10,848 | +36.0% |
| Cash at bank and in hand | 54/58 | €257,503 | €232,213 | -€25,290 | -9.8% |
| Deferred charges and accrued income | 490/1 | €49,632 | €29,700 | -€19,932 | -40.2% |
| Total equity and liabilities | 10/49 | €349,249 | €337,425 | -€11,824 | -3.4% |
| Equity | 10/15 | €324,654 | €95,388 | -€229,266 | -70.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €323,654 | €94,388 | -€229,266 | -70.8% |
| Distributable reserves | 133 | €323,654 | €94,388 | -€229,266 | -70.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,595 | €242,037 | +€217,442 | +884% |
| Amounts payable within one year | 42/48 | €23,995 | €242,037 | +€218,042 | +909% |
| Trade debts | 44 | €758 | €408 | -€350 | -46.2% |
| Suppliers | 440/4 | €758 | €408 | -€350 | -46.2% |
| Taxes, remuneration and social security | 45 | €22,549 | €16,029 | -€6,520 | -28.9% |
| Taxes | 450/3 | €22,549 | €16,029 | -€6,520 | -28.9% |
| Other amounts payable | 47/48 | €688 | €225,600 | +€224,912 | +32,691% |
| Accrued charges and deferred income | 492/3 | €600 | €0 | -€600 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,750 | €4,697 | +€2,947 | +168% |
| Other operating charges | 640/8 | €236 | €670 | +€434 | +184% |
| Gross operating margin | 9900 | €229,226 | €237,286 | +€8,059 | +3.5% |
| Operating profit (loss) | 9901 | €227,240 | €231,919 | +€4,678 | +2.1% |
| Financial income | 75/76B | - | €2,429 | +€2,429 | |
| Recurring financial income | 75 | - | €2,429 | +€2,429 | |
| Financial charges | 65/66B | €845 | €2,607 | +€1,763 | +209% |
| Recurring financial charges | 65 | €845 | €2,607 | +€1,763 | +209% |
| Profit (loss) for the period before taxes | 9903 | €226,396 | €231,740 | +€5,344 | +2.4% |
| Income taxes | 67/77 | €52,377 | €53,006 | +€630 | +1.2% |
| Profit (loss) for the period | 9904 | €174,019 | €178,734 | +€4,714 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €174,019 | €178,734 | +€4,714 | +2.7% |
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 14 October 2026 via checked.be.