Focus-Projects: what changed
Focus-Projects
Largest movements
- Cash -€33,650
down €33,650 (-65.4%), from €51,461 to €17,811
mainly Receivables within one year (-€16,932) and Net result for the year (-€9,242)
- Receivables within one year +€16,932
up €16,932 (+60.7%), from €27,898 to €44,830
of which Other amounts receivable: +€11,877
- Tangible fixed assets -€8,563
down €8,563 (-5.2%), from €165,386 to €156,823
of which Land and buildings: -€5,454
- Reserves -€9,242
down €9,242 (-12.3%), from €75,205 to €65,963
- Debts after one year -€8,939
down €8,939 (-7.0%), from €128,228 to €119,289
- Trade debts -€4,336
down €4,336 (-99.7%), from €4,350 to €13
- Short-term financial debts -€3,849
down €3,849 (-65.6%), from €5,871 to €2,022
- Tax, wage and social debts -€2,635
down €2,635 (-25.2%), from €10,460 to €7,825
- Gross operating margin -€43,174
down €43,174 (-84.9%), from €50,840 to €7,666
- Taxes -€11,059
down €11,059 (-99.2%), from €11,142 to €84
- Financial charges +€2,124
up €2,124 (+54.3%), from €3,914 to €6,038
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,836 | €219,953 | -€25,883 | -10.5% |
| Fixed assets | 21/28 | €165,386 | €156,823 | -€8,563 | -5.2% |
| Tangible fixed assets | 22/27 | €165,386 | €156,823 | -€8,563 | -5.2% |
| Land and buildings | 22 | €155,368 | €149,914 | -€5,454 | -3.5% |
| Plant, machinery and equipment | 23 | €4,304 | €3,053 | -€1,252 | -29.1% |
| Furniture and vehicles | 24 | €5,714 | €3,856 | -€1,858 | -32.5% |
| Current assets | 29/58 | €80,450 | €63,130 | -€17,320 | -21.5% |
| Amounts receivable within one year | 40/41 | €27,898 | €44,830 | +€16,932 | +60.7% |
| Trade receivables | 40 | €27,898 | €32,953 | +€5,055 | +18.1% |
| Other amounts receivable | 41 | - | €11,877 | +€11,877 | |
| Cash at bank and in hand | 54/58 | €51,461 | €17,811 | -€33,650 | -65.4% |
| Deferred charges and accrued income | 490/1 | €1,091 | €490 | -€602 | -55.1% |
| Total equity and liabilities | 10/49 | €245,836 | €219,953 | -€25,883 | -10.5% |
| Equity | 10/15 | €87,605 | €78,363 | -€9,242 | -10.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,205 | €65,963 | -€9,242 | -12.3% |
| Distributable reserves | 133 | €75,205 | €65,963 | -€9,242 | -12.3% |
| Amounts payable | 17/49 | €158,231 | €141,590 | -€16,641 | -10.5% |
| Amounts payable after more than one year | 17 | €128,228 | €119,289 | -€8,939 | -7.0% |
| Financial debts | 170/4 | €128,228 | €119,289 | -€8,939 | -7.0% |
| Amounts payable within one year | 42/48 | €30,003 | €22,301 | -€7,702 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €6,494 | €8,939 | +€2,445 | +37.6% |
| Financial debts | 43 | €5,871 | €2,022 | -€3,849 | -65.6% |
| Credit institutions | 430/8 | €5,871 | €2,022 | -€3,849 | -65.6% |
| Trade debts | 44 | €4,350 | €13 | -€4,336 | -99.7% |
| Suppliers | 440/4 | €4,350 | €13 | -€4,336 | -99.7% |
| Taxes, remuneration and social security | 45 | €10,460 | €7,825 | -€2,635 | -25.2% |
| Taxes | 450/3 | €10,460 | €7,825 | -€2,635 | -25.2% |
| Other amounts payable | 47/48 | €2,828 | €3,501 | +€673 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,521 | €8,563 | +€42 | +0.5% |
| Other operating charges | 640/8 | €2,098 | €2,223 | +€125 | +6.0% |
| Gross operating margin | 9900 | €50,840 | €7,666 | -€43,174 | -84.9% |
| Operating profit (loss) | 9901 | €40,221 | -€3,121 | -€43,342 | |
| Financial charges | 65/66B | €3,914 | €6,038 | +€2,124 | +54.3% |
| Recurring financial charges | 65 | €3,914 | €6,038 | +€2,124 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €36,308 | -€9,158 | -€45,466 | |
| Income taxes | 67/77 | €11,142 | €84 | -€11,059 | -99.2% |
| Profit (loss) for the period | 9904 | €25,165 | -€9,242 | -€34,407 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,165 | -€9,242 | -€34,407 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.