Hans Salaets: 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.
Hans Salaets
Largest movements
- Current investments +€60,000
up €60,000 (+41.0%), from €146,240 to €206,239
- Cash -€35,608
down €35,608 (-47.9%), from €74,332 to €38,724
mainly Current investments (-€60,000) and Receivables within one year (-€21,824)
- Receivables within one year +€21,824
up €21,824 (+633%), from €3,450 to €25,274
- Tangible fixed assets -€9,198
down €9,198 (-22.4%), from €41,060 to €31,862
of which Furniture and vehicles: -€7,785
- Reserves +€40,699
up €40,699 (+16.7%), from €243,757 to €284,456
of which Distributable reserves: +€40,699
- Tax, wage and social debts -€3,336
down €3,336 (-31.4%), from €10,630 to €7,295
- Depreciation -€11,941
down €11,941 (-56.5%), from €21,140 to €9,198
- Gross operating margin -€4,901
down €4,901 (-6.2%), from €78,686 to €73,785
- Financial income -€2,381
down €2,381 (-85.9%), from €2,771 to €390
- Taxes +€1,932
up €1,932 (+9.9%), from €19,481 to €21,413
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 | €270,082 | €304,600 | +€34,518 | +12.8% |
| Fixed assets | 21/28 | €41,060 | €31,862 | -€9,198 | -22.4% |
| Tangible fixed assets | 22/27 | €41,060 | €31,862 | -€9,198 | -22.4% |
| Plant, machinery and equipment | 23 | €7,439 | €6,706 | -€734 | -9.9% |
| Furniture and vehicles | 24 | €28,209 | €20,424 | -€7,785 | -27.6% |
| Other tangible fixed assets | 26 | €5,412 | €4,733 | -€680 | -12.6% |
| Current assets | 29/58 | €229,022 | €272,738 | +€43,716 | +19.1% |
| Amounts receivable within one year | 40/41 | €3,450 | €25,274 | +€21,824 | +633% |
| Other amounts receivable | 41 | €3,450 | €25,274 | +€21,824 | +633% |
| Current investments | 50/53 | €146,240 | €206,239 | +€60,000 | +41.0% |
| Cash at bank and in hand | 54/58 | €74,332 | €38,724 | -€35,608 | -47.9% |
| Deferred charges and accrued income | 490/1 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Total equity and liabilities | 10/49 | €270,082 | €304,600 | +€34,518 | +12.8% |
| Equity | 10/15 | €256,157 | €296,856 | +€40,699 | +15.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €243,757 | €284,456 | +€40,699 | +16.7% |
| Tax-exempt reserves | 132 | €89 | €89 | = | 0.0% |
| Distributable reserves | 133 | €243,668 | €284,367 | +€40,699 | +16.7% |
| Amounts payable | 17/49 | €13,925 | €7,743 | -€6,182 | -44.4% |
| Amounts payable within one year | 42/48 | €13,925 | €7,743 | -€6,182 | -44.4% |
| Trade debts | 44 | €614 | €391 | -€223 | -36.3% |
| Suppliers | 440/4 | €614 | €391 | -€223 | -36.3% |
| Taxes, remuneration and social security | 45 | €10,630 | €7,295 | -€3,336 | -31.4% |
| Taxes | 450/3 | €10,630 | €7,295 | -€3,336 | -31.4% |
| Other amounts payable | 47/48 | €2,681 | €58 | -€2,623 | -97.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,140 | €9,198 | -€11,941 | -56.5% |
| Other operating charges | 640/8 | €2,021 | €2,777 | +€756 | +37.4% |
| Gross operating margin | 9900 | €78,686 | €73,785 | -€4,901 | -6.2% |
| Operating profit (loss) | 9901 | €55,525 | €61,810 | +€6,285 | +11.3% |
| Financial income | 75/76B | €2,771 | €390 | -€2,381 | -85.9% |
| Recurring financial income | 75 | €2,771 | €390 | -€2,381 | -85.9% |
| Financial charges | 65/66B | €128 | €88 | -€39 | -30.8% |
| Recurring financial charges | 65 | €128 | €88 | -€39 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €58,168 | €62,112 | +€3,944 | +6.8% |
| Income taxes | 67/77 | €19,481 | €21,413 | +€1,932 | +9.9% |
| Profit (loss) for the period | 9904 | €38,687 | €40,699 | +€2,012 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,687 | €40,699 | +€2,012 | +5.2% |
Source: filed annual accounts (NBB), financial years ended 31 May 2025 and 31 May 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.