GO ON TRACK: 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.
GO ON TRACK
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+33.3%), from €3.2m to €4.3m
of which Assets under construction and advance payments: +€1.1m
- Debts after one year +€1.4m
up €1.4m (+40.3%), from €3.6m to €5.0m
- Other debts -€397,319
down €397,319 (-97.6%), from €407,020 to €9,701
- Trade debts +€132,366
up €132,366 (+975%), from €13,583 to €145,949
- Profit (loss) carried forward -€129,004
down €129,004 (-16.5%), from -€780,076 to -€909,080
- Gross operating margin +€73,235
up €73,235 (+99.3%), from -€73,779 to -€544
- Other operating charges +€7,138
up €7,138 (+121%), from €5,919 to €13,057
- Financial charges +€5,172
up €5,172 (+14.7%), from €35,149 to €40,321
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 | €3,222,477 | €4,268,521 | +€1.0m | +32.5% |
| Fixed assets | 21/28 | €3,195,913 | €4,256,525 | +€1.1m | +33.2% |
| Intangible fixed assets | 21 | €5,221 | €3,767 | -€1,454 | -27.9% |
| Tangible fixed assets | 22/27 | €3,190,692 | €4,252,758 | +€1.1m | +33.3% |
| Land and buildings | 22 | €2,857,143 | €2,784,416 | -€72,727 | -2.5% |
| Furniture and vehicles | 24 | €25,239 | €24,339 | -€900 | -3.6% |
| Assets under construction and advance payments | 27 | €308,310 | €1,444,003 | +€1.1m | +368% |
| Current assets | 29/58 | €26,564 | €11,996 | -€14,568 | -54.8% |
| Amounts receivable within one year | 40/41 | €67 | €2,406 | +€2,339 | +3,482% |
| Other amounts receivable | 41 | €67 | €2,406 | +€2,339 | +3,482% |
| Cash at bank and in hand | 54/58 | €26,497 | €9,590 | -€16,907 | -63.8% |
| Total equity and liabilities | 10/49 | €3,222,477 | €4,268,521 | +€1.0m | +32.5% |
| Equity | 10/15 | -€768,076 | -€897,080 | -€129,004 | -16.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€780,076 | -€909,080 | -€129,004 | -16.5% |
| Amounts payable | 17/49 | €3,990,553 | €5,165,601 | +€1.2m | +29.4% |
| Amounts payable after more than one year | 17 | €3,569,951 | €5,009,951 | +€1.4m | +40.3% |
| Other amounts payable | 178/9 | €3,569,951 | €5,009,951 | +€1.4m | +40.3% |
| Amounts payable within one year | 42/48 | €420,603 | €155,650 | -€264,953 | -63.0% |
| Trade debts | 44 | €13,583 | €145,949 | +€132,366 | +975% |
| Suppliers | 440/4 | €13,583 | €145,949 | +€132,366 | +975% |
| Other amounts payable | 47/48 | €407,020 | €9,701 | -€397,319 | -97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,636 | €75,082 | +€446 | +0.6% |
| Other operating charges | 640/8 | €5,919 | €13,057 | +€7,138 | +121% |
| Gross operating margin | 9900 | -€73,779 | -€544 | +€73,235 | +99.3% |
| Operating profit (loss) | 9901 | -€154,333 | -€88,682 | +€65,651 | +42.5% |
| Financial charges | 65/66B | €35,149 | €40,321 | +€5,172 | +14.7% |
| Recurring financial charges | 65 | €35,149 | €40,321 | +€5,172 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€189,482 | -€129,004 | +€60,479 | +31.9% |
| Profit (loss) for the period | 9904 | -€189,482 | -€129,004 | +€60,479 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€189,482 | -€129,004 | +€60,479 | +31.9% |
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 31 October 2026 via checked.be.