E - FRAME: 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.
E - FRAME
Largest movements
- Receivables within one year +€27,367
up €27,367 (+41.9%), from €65,271 to €92,637
of which Trade receivables: +€21,608
- Cash +€23,142
up €23,142 (+31.7%), from €73,042 to €96,184
mainly Depreciation (+€22,081) and Trade debts (+€20,559)
- Tangible fixed assets -€22,081
down €22,081 (-100%), from €22,081 to €0
- Receivables after one year -€6,000
down €6,000 (-100%), from €6,000 to €0
- Trade debts +€20,559
up €20,559 (+37.9%), from €54,257 to €74,815
- Reserves +€16,208
up €16,208 (+19.6%), from €82,681 to €98,889
- Current portion of long-term debt -€11,717
down €11,717 (-60.2%), from €19,448 to €7,731
- Debts after one year -€7,731
down €7,731 (-100%), from €7,731 to €0
- Tax, wage and social debts +€5,410
up €5,410 (+231%), from €2,344 to €7,754
- Gross operating margin +€16,255
up €16,255 (+56.7%), from €28,683 to €44,937
- Depreciation +€7,996
up €7,996 (+56.8%), from €14,085 to €22,081
- Taxes +€3,283
up €3,283 (+137%), from €2,401 to €5,684
- Financial charges -€984
down €984 (-46.3%), from €2,125 to €1,140
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 | €174,243 | €196,972 | +€22,730 | +13.0% |
| Fixed assets | 21/28 | €28,920 | €6,839 | -€22,081 | -76.4% |
| Tangible fixed assets | 22/27 | €22,081 | €0 | -€22,081 | -100% |
| Land and buildings | 22 | €22,081 | €0 | -€22,081 | -100% |
| Financial fixed assets | 28 | €6,839 | €6,839 | = | 0.0% |
| Current assets | 29/58 | €145,323 | €190,134 | +€44,811 | +30.8% |
| Amounts receivable after more than one year | 29 | €6,000 | €0 | -€6,000 | -100% |
| Other amounts receivable | 291 | €6,000 | €0 | -€6,000 | -100% |
| Amounts receivable within one year | 40/41 | €65,271 | €92,637 | +€27,367 | +41.9% |
| Trade receivables | 40 | €26,229 | €47,837 | +€21,608 | +82.4% |
| Other amounts receivable | 41 | €39,042 | €44,801 | +€5,759 | +14.8% |
| Cash at bank and in hand | 54/58 | €73,042 | €96,184 | +€23,142 | +31.7% |
| Deferred charges and accrued income | 490/1 | €1,010 | €1,312 | +€302 | +29.9% |
| Total equity and liabilities | 10/49 | €174,243 | €196,972 | +€22,730 | +13.0% |
| Equity | 10/15 | €90,181 | €106,389 | +€16,208 | +18.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €82,681 | €98,889 | +€16,208 | +19.6% |
| Distributable reserves | 133 | €82,681 | €98,889 | +€16,208 | +19.6% |
| Amounts payable | 17/49 | €84,062 | €90,583 | +€6,521 | +7.8% |
| Amounts payable after more than one year | 17 | €7,731 | €0 | -€7,731 | -100% |
| Financial debts | 170/4 | €7,731 | €0 | -€7,731 | -100% |
| Amounts payable within one year | 42/48 | €76,331 | €90,583 | +€14,253 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €19,448 | €7,731 | -€11,717 | -60.2% |
| Trade debts | 44 | €54,257 | €74,815 | +€20,559 | +37.9% |
| Suppliers | 440/4 | €54,257 | €74,815 | +€20,559 | +37.9% |
| Taxes, remuneration and social security | 45 | €2,344 | €7,754 | +€5,410 | +231% |
| Taxes | 450/3 | €2,344 | €7,754 | +€5,410 | +231% |
| Other amounts payable | 47/48 | €282 | €282 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,085 | €22,081 | +€7,996 | +56.8% |
| Other operating charges | 640/8 | €1,893 | €1,953 | +€60 | +3.2% |
| Non-recurring operating charges | 66A | €4,235 | €0 | -€4,235 | -100% |
| Gross operating margin | 9900 | €28,683 | €44,937 | +€16,255 | +56.7% |
| Operating profit (loss) | 9901 | €8,470 | €20,903 | +€12,434 | +147% |
| Financial income | 75/76B | €1,993 | €2,129 | +€136 | +6.8% |
| Recurring financial income | 75 | €1,993 | €2,129 | +€136 | +6.8% |
| Financial charges | 65/66B | €2,125 | €1,140 | -€984 | -46.3% |
| Recurring financial charges | 65 | €2,125 | €1,140 | -€984 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €8,338 | €21,892 | +€13,554 | +163% |
| Income taxes | 67/77 | €2,401 | €5,684 | +€3,283 | +137% |
| Profit (loss) for the period | 9904 | €5,937 | €16,208 | +€10,272 | +173% |
| Profit (loss) for the period to be appropriated | 9905 | €5,937 | €16,208 | +€10,272 | +173% |
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 22 October 2026 via checked.be.