EXCEPT: 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.
EXCEPT
Largest movements
- Cash +€1,501
up €1,501 (+49.5%), from €3,035 to €4,537
mainly Other debts (+€9,759) and Stocks and contracts (+€1,458)
- Stocks and contracts -€1,458
down €1,458 (-9.9%), from €14,771 to €13,314
- Tangible fixed assets +€1,043
up €1,043 (+93.3%), from €1,117 to €2,160
- Receivables within one year +€1,001
up €1,001 (+17.6%), from €5,674 to €6,675
of which Trade receivables: +€1,001
- Other debts +€9,759
up €9,759 (+954.0%), from €1,023 to €10,782
- Profit (loss) carried forward -€7,802
down €7,802 (-4.6%), from -€168,834 to -€176,636
- Trade debts +€616
up €616 (+15.9%), from €3,876 to €4,491
- Tax, wage and social debts -€485
down €485 (-40.1%), from €1,208 to €723
- Gross operating margin +€2,413
up €2,413 (+27.2%), from -€8,876 to -€6,464
- Financial charges -€185
down €185 (-56.4%), from €328 to €143
- Depreciation +€150
up €150 (+40.0%), from €376 to €527
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 | €26,273 | €28,360 | +€2,088 | +7.9% |
| Fixed assets | 21/28 | €2,792 | €3,835 | +€1,043 | +37.3% |
| Tangible fixed assets | 22/27 | €1,117 | €2,160 | +€1,043 | +93.3% |
| Furniture and vehicles | 24 | €1,117 | €2,160 | +€1,043 | +93.3% |
| Financial fixed assets | 28 | €1,675 | €1,675 | = | 0.0% |
| Current assets | 29/58 | €23,480 | €24,525 | +€1,045 | +4.5% |
| Stocks and contracts in progress | 3 | €14,771 | €13,314 | -€1,458 | -9.9% |
| Stocks | 30/36 | €14,771 | €13,314 | -€1,458 | -9.9% |
| Amounts receivable within one year | 40/41 | €5,674 | €6,675 | +€1,001 | +17.6% |
| Trade receivables | 40 | €5,674 | €6,675 | +€1,001 | +17.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €3,035 | €4,537 | +€1,501 | +49.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €26,273 | €28,360 | +€2,088 | +7.9% |
| Equity | 10/15 | -€18,834 | -€26,636 | -€7,802 | -41.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€168,834 | -€176,636 | -€7,802 | -4.6% |
| Amounts payable | 17/49 | €45,107 | €54,996 | +€9,889 | +21.9% |
| Amounts payable after more than one year | 17 | €39,000 | €39,000 | = | 0.0% |
| Other amounts payable | 178/9 | €39,000 | €39,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,107 | €15,996 | +€9,889 | +161.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,876 | €4,491 | +€616 | +15.9% |
| Suppliers | 440/4 | €3,876 | €4,491 | +€616 | +15.9% |
| Taxes, remuneration and social security | 45 | €1,208 | €723 | -€485 | -40.1% |
| Taxes | 450/3 | €1,208 | €723 | -€485 | -40.1% |
| Other amounts payable | 47/48 | €1,023 | €10,782 | +€9,759 | +954.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €376 | €527 | +€150 | +40.0% |
| Other operating charges | 640/8 | €652 | €668 | +€16 | +2.5% |
| Gross operating margin | 9900 | -€8,876 | -€6,464 | +€2,413 | +27.2% |
| Operating profit (loss) | 9901 | -€9,905 | -€7,659 | +€2,246 | +22.7% |
| Financial income | 75/76B | €7 | €0 | -€7 | -100.0% |
| Recurring financial income | 75 | €7 | €0 | -€7 | -100.0% |
| Financial charges | 65/66B | €328 | €143 | -€185 | -56.4% |
| Recurring financial charges | 65 | €328 | €143 | -€185 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,225 | -€7,802 | +€2,423 | +23.7% |
| Profit (loss) for the period | 9904 | -€10,225 | -€7,802 | +€2,423 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,225 | -€7,802 | +€2,423 | +23.7% |
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 9 October 2026 via checked.be.