EL47: 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.
EL47
Largest movements
- Cash +€10,420
up €10,420 (+27.8%), from €37,533 to €47,953
mainly Net result for the year (+€104,136) and Depreciation (+€10,009)
- Tangible fixed assets -€10,009
down €10,009 (-34.4%), from €29,134 to €19,124
of which Furniture and vehicles: -€7,066
- Receivables within one year -€7,020
down €7,020 (-8.2%), from €85,600 to €78,580
of which Trade receivables: -€4,808
- Tax, wage and social debts -€8,076
down €8,076 (-20.3%), from €39,855 to €31,779
- Other debts +€1,993
up €1,993 (+2.1%), from €93,550 to €95,543
- Gross operating margin -€10,977
down €10,977 (-7.0%), from €157,547 to €146,570
- Taxes -€2,983
down €2,983 (-8.8%), from €33,852 to €30,869
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 | €154,256 | €147,515 | -€6,742 | -4.4% |
| Fixed assets | 21/28 | €29,134 | €19,124 | -€10,009 | -34.4% |
| Tangible fixed assets | 22/27 | €29,134 | €19,124 | -€10,009 | -34.4% |
| Furniture and vehicles | 24 | €13,473 | €6,408 | -€7,066 | -52.4% |
| Other tangible fixed assets | 26 | €15,660 | €12,717 | -€2,944 | -18.8% |
| Current assets | 29/58 | €125,123 | €128,390 | +€3,268 | +2.6% |
| Amounts receivable within one year | 40/41 | €85,600 | €78,580 | -€7,020 | -8.2% |
| Trade receivables | 40 | €83,372 | €78,564 | -€4,808 | -5.8% |
| Other amounts receivable | 41 | €2,228 | €16 | -€2,212 | -99.3% |
| Cash at bank and in hand | 54/58 | €37,533 | €47,953 | +€10,420 | +27.8% |
| Deferred charges and accrued income | 490/1 | €1,990 | €1,857 | -€133 | -6.7% |
| Total equity and liabilities | 10/49 | €154,256 | €147,515 | -€6,742 | -4.4% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €135,656 | €128,915 | -€6,742 | -5.0% |
| Amounts payable within one year | 42/48 | €135,656 | €128,915 | -€6,742 | -5.0% |
| Trade debts | 44 | €2,251 | €1,592 | -€659 | -29.3% |
| Suppliers | 440/4 | €2,251 | €1,592 | -€659 | -29.3% |
| Taxes, remuneration and social security | 45 | €39,855 | €31,779 | -€8,076 | -20.3% |
| Taxes | 450/3 | €39,855 | €31,779 | -€8,076 | -20.3% |
| Other amounts payable | 47/48 | €93,550 | €95,543 | +€1,993 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,913 | €10,009 | +€96 | +1.0% |
| Other operating charges | 640/8 | €1,236 | €1,209 | -€27 | -2.2% |
| Gross operating margin | 9900 | €157,547 | €146,570 | -€10,977 | -7.0% |
| Operating profit (loss) | 9901 | €146,398 | €135,352 | -€11,046 | -7.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €285 | €346 | +€61 | +21.3% |
| Recurring financial charges | 65 | €285 | €346 | +€61 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €146,113 | €135,005 | -€11,107 | -7.6% |
| Income taxes | 67/77 | €33,852 | €30,869 | -€2,983 | -8.8% |
| Profit (loss) for the period | 9904 | €112,261 | €104,136 | -€8,125 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €112,261 | €104,136 | -€8,125 | -7.2% |
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 3 October 2026 via checked.be.