Gerben Carron: 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.
Gerben Carron
Largest movements
- Financial fixed assets +€50,000
new in 2026: €50,000
- Tangible fixed assets -€27,512
down €27,512 (-92.1%), from €29,871 to €2,360
of which Furniture and vehicles: -€26,859
- Cash -€17,666
down €17,666 (-99.4%), from €17,768 to €101
mainly Investment in fixed assets (net) (-€24,189) and Debts after one year (-€21,141)
- Receivables within one year -€17,511
down €17,511 (-26.2%), from €66,952 to €49,441
of which Other amounts receivable: -€8,921
- Debts after one year -€21,141
down €21,141 (-62.7%), from €33,739 to €12,598
- Other debts +€11,318
up €11,318 (+181%), from €6,239 to €17,557
- Current portion of long-term debt -€11,063
down €11,063 (-75.6%), from €14,643 to €3,580
- Reserves +€6,928
up €6,928 (+14.1%), from €49,028 to €55,956
- Trade debts +€3,053
up €3,053 (+546%), from €559 to €3,612
- Gross operating margin -€15,937
down €15,937 (-42.2%), from €37,770 to €21,833
- Depreciation -€7,190
down €7,190 (-80.9%), from €8,891 to €1,700
- Taxes -€1,956
down €1,956 (-25.7%), from €7,619 to €5,663
- Financial charges -€757
down €757 (-40.8%), from €1,858 to €1,101
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 | €114,591 | €101,902 | -€12,689 | -11.1% |
| Fixed assets | 21/28 | €29,871 | €52,360 | +€22,488 | +75.3% |
| Tangible fixed assets | 22/27 | €29,871 | €2,360 | -€27,512 | -92.1% |
| Plant, machinery and equipment | 23 | €2,274 | €1,621 | -€652 | -28.7% |
| Furniture and vehicles | 24 | €27,598 | €738 | -€26,859 | -97.3% |
| Financial fixed assets | 28 | - | €50,000 | +€50,000 | |
| Current assets | 29/58 | €84,720 | €49,543 | -€35,177 | -41.5% |
| Amounts receivable within one year | 40/41 | €66,952 | €49,441 | -€17,511 | -26.2% |
| Trade receivables | 40 | €57,872 | €49,282 | -€8,590 | -14.8% |
| Other amounts receivable | 41 | €9,080 | €159 | -€8,921 | -98.2% |
| Cash at bank and in hand | 54/58 | €17,768 | €101 | -€17,666 | -99.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €114,591 | €101,902 | -€12,689 | -11.1% |
| Equity | 10/15 | €52,028 | €58,956 | +€6,928 | +13.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €49,028 | €55,956 | +€6,928 | +14.1% |
| Distributable reserves | 133 | €49,028 | €55,956 | +€6,928 | +14.1% |
| Amounts payable | 17/49 | €62,563 | €42,947 | -€19,617 | -31.4% |
| Amounts payable after more than one year | 17 | €33,739 | €12,598 | -€21,141 | -62.7% |
| Financial debts | 170/4 | €33,739 | €12,598 | -€21,141 | -62.7% |
| Amounts payable within one year | 42/48 | €28,824 | €30,349 | +€1,525 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €14,643 | €3,580 | -€11,063 | -75.6% |
| Trade debts | 44 | €559 | €3,612 | +€3,053 | +546% |
| Suppliers | 440/4 | €559 | €3,612 | +€3,053 | +546% |
| Taxes, remuneration and social security | 45 | €7,384 | €5,601 | -€1,783 | -24.2% |
| Taxes | 450/3 | €7,384 | €3,500 | -€3,883 | -52.6% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €6,239 | €17,557 | +€11,318 | +181% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,891 | €1,700 | -€7,190 | -80.9% |
| Other operating charges | 640/8 | €797 | €630 | -€168 | -21.0% |
| Non-recurring operating charges | 66A | €0 | €5,811 | +€5,811 | |
| Gross operating margin | 9900 | €37,770 | €21,833 | -€15,937 | -42.2% |
| Operating profit (loss) | 9901 | €28,082 | €13,691 | -€14,391 | -51.2% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €1,858 | €1,101 | -€757 | -40.8% |
| Recurring financial charges | 65 | €1,858 | €1,101 | -€757 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | €26,234 | €12,591 | -€13,644 | -52.0% |
| Income taxes | 67/77 | €7,619 | €5,663 | -€1,956 | -25.7% |
| Profit (loss) for the period | 9904 | €18,616 | €6,928 | -€11,688 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,616 | €6,928 | -€11,688 | -62.8% |
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 17 October 2026 via checked.be.