Het Vermogensatelier: 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.
Het Vermogensatelier
Largest movements
- Cash -€379,382
down €379,382 (-48.1%), from €788,726 to €409,344
mainly Debts after one year (-€443,084) and Contributions, distributions and other (-€400,000)
- Intangible fixed assets +€188,057
up €188,057 (+18.4%), from €1.0m to €1.2m
- Debts after one year -€443,084
down €443,084 (-75.6%), from €586,043 to €142,959
- Other debts +€355,586
up €355,586 (+33.8%), from €1.1m to €1.4m
- Current portion of long-term debt -€96,821
down €96,821 (-28.5%), from €339,905 to €243,084
- Depreciation +€27,296
up €27,296 (+14.5%), from €188,242 to €215,538
- Taxes -€14,028
down €14,028 (-9.7%), from €144,185 to €130,157
- Financial income -€11,437
down €11,437 (-49.0%), from €23,353 to €11,916
- Financial charges -€10,009
down €10,009 (-59.1%), from €16,950 to €6,940
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 | €2,230,933 | €2,035,527 | -€195,406 | -8.8% |
| Fixed assets | 21/28 | €1,084,528 | €1,263,448 | +€178,920 | +16.5% |
| Intangible fixed assets | 21 | €1,023,921 | €1,211,979 | +€188,057 | +18.4% |
| Tangible fixed assets | 22/27 | €60,607 | €51,469 | -€9,138 | -15.1% |
| Land and buildings | 22 | €30,986 | €15,493 | -€15,493 | -50.0% |
| Plant, machinery and equipment | 23 | €8,790 | €8,640 | -€150 | -1.7% |
| Furniture and vehicles | 24 | €14,128 | €18,125 | +€3,997 | +28.3% |
| Other tangible fixed assets | 26 | €6,702 | €9,211 | +€2,508 | +37.4% |
| Current assets | 29/58 | €1,146,405 | €772,079 | -€374,326 | -32.7% |
| Amounts receivable within one year | 40/41 | €411 | €0 | -€411 | -100% |
| Trade receivables | 40 | €411 | €0 | -€411 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €351,507 | €351,507 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €788,726 | €409,344 | -€379,382 | -48.1% |
| Deferred charges and accrued income | 490/1 | €5,762 | €11,229 | +€5,467 | +94.9% |
| Total equity and liabilities | 10/49 | €2,230,933 | €2,035,527 | -€195,406 | -8.8% |
| Equity | 10/15 | €207,898 | €219,894 | +€11,997 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,888 | €186,884 | +€11,997 | +6.9% |
| Amounts payable | 17/49 | €2,023,035 | €1,815,632 | -€207,403 | -10.3% |
| Amounts payable after more than one year | 17 | €586,043 | €142,959 | -€443,084 | -75.6% |
| Financial debts | 170/4 | €586,043 | €142,959 | -€443,084 | -75.6% |
| Amounts payable within one year | 42/48 | €1,436,992 | €1,672,673 | +€235,681 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €339,905 | €243,084 | -€96,821 | -28.5% |
| Trade debts | 44 | €2,742 | €1,894 | -€848 | -30.9% |
| Suppliers | 440/4 | €2,742 | €1,894 | -€848 | -30.9% |
| Taxes, remuneration and social security | 45 | €42,263 | €20,027 | -€22,236 | -52.6% |
| Taxes | 450/3 | €42,263 | €20,027 | -€22,236 | -52.6% |
| Other amounts payable | 47/48 | €1,052,082 | €1,407,668 | +€355,586 | +33.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,242 | €215,538 | +€27,296 | +14.5% |
| Other operating charges | 640/8 | €3,941 | €3,962 | +€21 | +0.5% |
| Gross operating margin | 9900 | €749,325 | €756,678 | +€7,353 | +1.0% |
| Operating profit (loss) | 9901 | €557,141 | €537,178 | -€19,963 | -3.6% |
| Financial income | 75/76B | €23,353 | €11,916 | -€11,437 | -49.0% |
| Recurring financial income | 75 | €23,353 | €11,916 | -€11,437 | -49.0% |
| Financial charges | 65/66B | €16,950 | €6,940 | -€10,009 | -59.1% |
| Recurring financial charges | 65 | €16,950 | €6,940 | -€10,009 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | €563,544 | €542,153 | -€21,391 | -3.8% |
| Income taxes | 67/77 | €144,185 | €130,157 | -€14,028 | -9.7% |
| Profit (loss) for the period | 9904 | €419,359 | €411,997 | -€7,363 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €419,359 | €411,997 | -€7,363 | -1.8% |
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 29 October 2026 via checked.be.