IN PECTORE: 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.
IN PECTORE
Largest movements
- Receivables within one year -€227,812
no longer reported in 2026 (was €227,812)
of which Trade receivables: -€202,952
- Cash +€101,453
up €101,453 (+196.1%), from €51,737 to €153,191
mainly Receivables within one year (+€227,812) and Contributions, distributions and other (+€23,875)
- Trade debts -€123,073
down €123,073 (-97.7%), from €125,986 to €2,913
- Profit (loss) carried forward -€14,401
down €14,401 (-21.5%), from €66,986 to €52,585
- Tax, wage and social debts +€6,041
up €6,041 (+22.1%), from €27,312 to €33,353
- Other debts +€5,588
new in 2026: €5,588
- Gross operating margin -€233,589
down €233,589, from €196,138 to -€37,451
- Staff costs -€87,651
no longer reported in 2026 (was €87,651)
- Taxes -€24,218
no longer reported in 2026 (was €24,218)
- Financial charges -€4,188
down €4,188 (-75.0%), from €5,587 to €1,399
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.
Cash bridge derived
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 | €279,550 | €153,191 | -€126,359 | -45.2% |
| Current assets | 29/58 | €279,550 | €153,191 | -€126,359 | -45.2% |
| Amounts receivable within one year | 40/41 | €227,812 | - | -€227,812 | |
| Trade receivables | 40 | €202,952 | - | -€202,952 | |
| Other amounts receivable | 41 | €24,860 | - | -€24,860 | |
| Cash at bank and in hand | 54/58 | €51,737 | €153,191 | +€101,453 | +196.1% |
| Total equity and liabilities | 10/49 | €279,550 | €153,191 | -€126,359 | -45.2% |
| Equity | 10/15 | €102,915 | €88,001 | -€14,914 | -14.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €7,945 | €7,945 | = | 0.0% |
| Non-distributable reserves | 130/1 | €397 | €397 | = | 0.0% |
| Reserves not available under the articles | 1311 | €397 | €397 | = | 0.0% |
| Distributable reserves | 133 | €7,547 | €7,547 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,986 | €52,585 | -€14,401 | -21.5% |
| Investment grants | 15 | €2,985 | €2,472 | -€513 | -17.2% |
| Amounts payable | 17/49 | €176,634 | €65,190 | -€111,445 | -63.1% |
| Amounts payable within one year | 42/48 | €153,298 | €41,853 | -€111,445 | -72.7% |
| Trade debts | 44 | €125,986 | €2,913 | -€123,073 | -97.7% |
| Suppliers | 440/4 | €125,986 | €2,913 | -€123,073 | -97.7% |
| Taxes, remuneration and social security | 45 | €27,312 | €33,353 | +€6,041 | +22.1% |
| Taxes | 450/3 | €27,312 | €33,353 | +€6,041 | +22.1% |
| Other amounts payable | 47/48 | - | €5,588 | +€5,588 | |
| Accrued charges and deferred income | 492/3 | €23,336 | €23,336 | = | 0.0% |
| Non-recurring operating income | 76A | €93,018 | - | -€93,018 | |
| Remuneration, social security and pensions | 62 | €87,651 | - | -€87,651 | |
| Other operating charges | 640/8 | €1,480 | €532 | -€947 | -64.0% |
| Gross operating margin | 9900 | €196,138 | -€37,451 | -€233,589 | |
| Operating profit (loss) | 9901 | €107,007 | -€37,983 | -€144,990 | |
| Financial income | 75/76B | €615 | €592 | -€23 | -3.8% |
| Recurring financial income | 75 | €615 | €592 | -€23 | -3.8% |
| Financial charges | 65/66B | €5,587 | €1,399 | -€4,188 | -75.0% |
| Recurring financial charges | 65 | €5,587 | €1,399 | -€4,188 | -75.0% |
| Profit (loss) for the period before taxes | 9903 | €102,035 | -€38,789 | -€140,825 | |
| Income taxes | 67/77 | €24,218 | - | -€24,218 | |
| Profit (loss) for the period | 9904 | €77,818 | -€38,789 | -€116,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €77,818 | -€38,789 | -€116,607 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.