ECV: 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.
ECV
Largest movements
- Financial fixed assets -€608,866
no longer reported in 2026 (was €608,866)
- Stocks and contracts -€584,226
down €584,226 (-87.8%), from €665,226 to €81,000
- Cash +€23,863
up €23,863 (+43.9%), from €54,353 to €78,216
mainly Investment in fixed assets (net) (+€608,866) and Stocks and contracts (+€584,226)
- Profit (loss) carried forward -€713,402
down €713,402, from €12,225 to -€701,177
- Short-term financial debts -€441,000
no longer reported in 2026 (was €441,000)
- Financial charges +€599,839
up €599,839 (+6092.8%), from €9,845 to €609,684
of which Non-recurring financial charges: +€608,865
- Gross operating margin +€107,360
up €107,360, from -€6,793 to €100,567
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 | €1,537,460 | €379,342 | -€1.2m | -75.3% |
| Fixed assets | 21/28 | €608,866 | - | -€608,866 | |
| Financial fixed assets | 28 | €608,866 | - | -€608,866 | |
| Current assets | 29/58 | €928,594 | €379,342 | -€549,252 | -59.1% |
| Stocks and contracts in progress | 3 | €665,226 | €81,000 | -€584,226 | -87.8% |
| Stocks | 30/36 | €665,226 | €81,000 | -€584,226 | -87.8% |
| Amounts receivable within one year | 40/41 | €209,015 | €220,126 | +€11,111 | +5.3% |
| Trade receivables | 40 | €3,800 | - | -€3,800 | |
| Other amounts receivable | 41 | €205,215 | €220,126 | +€14,911 | +7.3% |
| Cash at bank and in hand | 54/58 | €54,353 | €78,216 | +€23,863 | +43.9% |
| Total equity and liabilities | 10/49 | €1,537,460 | €379,342 | -€1.2m | -75.3% |
| Equity | 10/15 | €1,025,784 | €312,382 | -€713,402 | -69.5% |
| Contributions | 10/11 | €411,200 | €411,200 | = | 0.0% |
| Reserves | 13 | €602,359 | €602,359 | = | 0.0% |
| Non-distributable reserves | 130/1 | €42,359 | €42,359 | = | 0.0% |
| Other | 1319 | €42,359 | €42,359 | = | 0.0% |
| Distributable reserves | 133 | €560,000 | €560,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,225 | -€701,177 | -€713,402 | |
| Amounts payable | 17/49 | €511,676 | €66,960 | -€444,716 | -86.9% |
| Amounts payable within one year | 42/48 | €511,676 | €66,960 | -€444,716 | -86.9% |
| Financial debts | 43 | €441,000 | - | -€441,000 | |
| Credit institutions | 430/8 | €441,000 | - | -€441,000 | |
| Trade debts | 44 | €215 | €1,112 | +€897 | +417.2% |
| Suppliers | 440/4 | €215 | €1,112 | +€897 | +417.2% |
| Other amounts payable | 47/48 | €70,461 | €65,848 | -€4,613 | -6.5% |
| Other operating charges | 640/8 | €1,595 | €2,185 | +€590 | +37.0% |
| Non-recurring operating charges | 66A | - | €202,100 | +€202,100 | |
| Gross operating margin | 9900 | -€6,793 | €100,567 | +€107,360 | |
| Operating profit (loss) | 9901 | -€8,388 | -€103,718 | -€95,330 | -1136.5% |
| Financial income | 75/76B | €25 | - | -€25 | |
| Recurring financial income | 75 | €25 | - | -€25 | |
| Financial charges | 65/66B | €9,845 | €609,684 | +€599,839 | +6092.8% |
| Recurring financial charges | 65 | €9,845 | €819 | -€9,026 | -91.7% |
| Non-recurring financial charges | 66B | - | €608,865 | +€608,865 | |
| Profit (loss) for the period before taxes | 9903 | -€18,208 | -€713,402 | -€695,194 | -3818.1% |
| Income taxes | 67/77 | €204 | - | -€204 | |
| Profit (loss) for the period | 9904 | -€18,412 | -€713,402 | -€694,990 | -3774.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,412 | -€713,402 | -€694,990 | -3774.7% |
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 8 October 2026 via checked.be.