I FEEL REAL: 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.
I FEEL REAL
Largest movements
- Financial fixed assets +€60,000
up €60,000 (+30.8%), from €195,000 to €255,000
- Cash -€30,934
down €30,934 (-59.1%), from €52,344 to €21,410
mainly Contributions, distributions and other (-€239,641) and Investment in fixed assets (net) (-€86,465)
- Receivables within one year +€23,987
up €23,987 (+114%), from €21,101 to €45,088
of which Trade receivables: +€24,922
- Tangible fixed assets +€23,031
up €23,031 (+677%), from €3,401 to €26,432
of which Other tangible fixed assets: +€25,404
- Deferred charges and accrued income +€5,660
up €5,660 (+6,450%), from €88 to €5,748
- Other debts +€203,780
up €203,780 (+42,406%), from €481 to €204,260
- Reserves -€138,409
down €138,409 (-57.8%), from €239,641 to €101,232
- Tax, wage and social debts +€10,008
up €10,008 (+83.7%), from €11,958 to €21,966
of which Taxes: +€10,734
- Trade debts +€5,566
up €5,566 (+705%), from €790 to €6,356
- Gross operating margin -€22,973
down €22,973 (-13.9%), from €164,765 to €141,792
- Taxes -€6,080
down €6,080 (-14.5%), from €42,065 to €35,985
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 | €271,934 | €353,678 | +€81,744 | +30.1% |
| Fixed assets | 21/28 | €198,401 | €281,432 | +€83,031 | +41.9% |
| Tangible fixed assets | 22/27 | €3,401 | €26,432 | +€23,031 | +677% |
| Furniture and vehicles | 24 | €2,533 | €160 | -€2,373 | -93.7% |
| Other tangible fixed assets | 26 | €868 | €26,273 | +€25,404 | +2,926% |
| Financial fixed assets | 28 | €195,000 | €255,000 | +€60,000 | +30.8% |
| Current assets | 29/58 | €73,533 | €72,245 | -€1,287 | -1.8% |
| Amounts receivable within one year | 40/41 | €21,101 | €45,088 | +€23,987 | +114% |
| Trade receivables | 40 | €20,166 | €45,088 | +€24,922 | +124% |
| Other amounts receivable | 41 | €935 | - | -€935 | |
| Cash at bank and in hand | 54/58 | €52,344 | €21,410 | -€30,934 | -59.1% |
| Deferred charges and accrued income | 490/1 | €88 | €5,748 | +€5,660 | +6,450% |
| Total equity and liabilities | 10/49 | €271,934 | €353,678 | +€81,744 | +30.1% |
| Equity | 10/15 | €258,241 | €119,832 | -€138,409 | -53.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €239,641 | €101,232 | -€138,409 | -57.8% |
| Distributable reserves | 133 | €239,641 | €101,232 | -€138,409 | -57.8% |
| Amounts payable | 17/49 | €13,692 | €233,846 | +€220,153 | +1,608% |
| Amounts payable within one year | 42/48 | €13,228 | €232,583 | +€219,354 | +1,658% |
| Trade debts | 44 | €790 | €6,356 | +€5,566 | +705% |
| Suppliers | 440/4 | €790 | €6,356 | +€5,566 | +705% |
| Taxes, remuneration and social security | 45 | €11,958 | €21,966 | +€10,008 | +83.7% |
| Taxes | 450/3 | €10,052 | €20,786 | +€10,734 | +107% |
| Remuneration and social security | 454/9 | €1,906 | €1,180 | -€726 | -38.1% |
| Other amounts payable | 47/48 | €481 | €204,260 | +€203,780 | +42,406% |
| Accrued charges and deferred income | 492/3 | €464 | €1,263 | +€799 | +172% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,271 | €3,433 | +€163 | +5.0% |
| Other operating charges | 640/8 | €1,046 | €1,610 | +€564 | +53.9% |
| Gross operating margin | 9900 | €164,765 | €141,792 | -€22,973 | -13.9% |
| Operating profit (loss) | 9901 | €160,448 | €136,748 | -€23,700 | -14.8% |
| Financial income | 75/76B | - | €555 | +€555 | |
| Recurring financial income | 75 | - | €555 | +€555 | |
| Financial charges | 65/66B | €103 | €86 | -€17 | -17.0% |
| Recurring financial charges | 65 | €103 | €86 | -€17 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €160,345 | €137,217 | -€23,128 | -14.4% |
| Income taxes | 67/77 | €42,065 | €35,985 | -€6,080 | -14.5% |
| Profit (loss) for the period | 9904 | €118,280 | €101,232 | -€17,048 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €118,280 | €101,232 | -€17,048 | -14.4% |
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.