EXPLORE D: 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.
EXPLORE D
Largest movements
- Cash +€68,870
up €68,870 (+90.0%), from €76,487 to €145,357
mainly Net result for the year (+€61,097) and Depreciation (+€24,835)
- Tangible fixed assets -€13,021
down €13,021 (-9.9%), from €132,141 to €119,120
of which Furniture and vehicles: -€10,320
- Receivables within one year -€4,747
down €4,747 (-23.1%), from €20,520 to €15,772
of which Other amounts receivable: -€6,325
- Reserves +€61,097
up €61,097 (+32.9%), from €185,837 to €246,934
- Debts after one year -€6,828
down €6,828 (-79.8%), from €8,551 to €1,723
- Gross operating margin +€20,982
up €20,982 (+24.0%), from €87,297 to €108,279
- Other operating charges -€10,623
down €10,623 (-88.3%), from €12,033 to €1,410
- Taxes +€7,248
up €7,248 (+54.0%), from €13,424 to €20,673
- Depreciation +€2,669
up €2,669 (+12.0%), from €22,166 to €24,835
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 | €229,148 | €280,704 | +€51,556 | +22.5% |
| Fixed assets | 21/28 | €132,141 | €119,120 | -€13,021 | -9.9% |
| Tangible fixed assets | 22/27 | €132,141 | €119,120 | -€13,021 | -9.9% |
| Land and buildings | 22 | €103,246 | €102,390 | -€856 | -0.8% |
| Plant, machinery and equipment | 23 | €2,830 | €2,053 | -€777 | -27.4% |
| Furniture and vehicles | 24 | €23,900 | €13,580 | -€10,320 | -43.2% |
| Other tangible fixed assets | 26 | €2,166 | €1,097 | -€1,069 | -49.3% |
| Current assets | 29/58 | €97,007 | €161,584 | +€64,577 | +66.6% |
| Amounts receivable within one year | 40/41 | €20,520 | €15,772 | -€4,747 | -23.1% |
| Trade receivables | 40 | €13,944 | €15,521 | +€1,577 | +11.3% |
| Other amounts receivable | 41 | €6,576 | €251 | -€6,325 | -96.2% |
| Cash at bank and in hand | 54/58 | €76,487 | €145,357 | +€68,870 | +90.0% |
| Deferred charges and accrued income | 490/1 | - | €455 | +€455 | |
| Total equity and liabilities | 10/49 | €229,148 | €280,704 | +€51,556 | +22.5% |
| Equity | 10/15 | €204,437 | €265,534 | +€61,097 | +29.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €185,837 | €246,934 | +€61,097 | +32.9% |
| Distributable reserves | 133 | €185,837 | €246,934 | +€61,097 | +32.9% |
| Amounts payable | 17/49 | €24,711 | €15,170 | -€9,541 | -38.6% |
| Amounts payable after more than one year | 17 | €8,551 | €1,723 | -€6,828 | -79.8% |
| Financial debts | 170/4 | €8,551 | €1,723 | -€6,828 | -79.8% |
| Amounts payable within one year | 42/48 | €16,160 | €13,447 | -€2,713 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €6,725 | €6,828 | +€103 | +1.5% |
| Trade debts | 44 | €1,007 | €418 | -€589 | -58.5% |
| Suppliers | 440/4 | €1,007 | €418 | -€589 | -58.5% |
| Taxes, remuneration and social security | 45 | €2,340 | €673 | -€1,668 | -71.3% |
| Taxes | 450/3 | €2,340 | €673 | -€1,668 | -71.3% |
| Other amounts payable | 47/48 | €6,088 | €5,528 | -€560 | -9.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,166 | €24,835 | +€2,669 | +12.0% |
| Other operating charges | 640/8 | €12,033 | €1,410 | -€10,623 | -88.3% |
| Gross operating margin | 9900 | €87,297 | €108,279 | +€20,982 | +24.0% |
| Operating profit (loss) | 9901 | €53,098 | €82,034 | +€28,936 | +54.5% |
| Financial income | 75/76B | €4 | €2 | -€2 | -47.0% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -47.0% |
| Financial charges | 65/66B | €611 | €266 | -€345 | -56.5% |
| Recurring financial charges | 65 | €611 | €266 | -€345 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €52,491 | €81,770 | +€29,279 | +55.8% |
| Income taxes | 67/77 | €13,424 | €20,673 | +€7,248 | +54.0% |
| Profit (loss) for the period | 9904 | €39,066 | €61,097 | +€22,031 | +56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,066 | €61,097 | +€22,031 | +56.4% |
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.