Inge Geukens: 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.
Inge Geukens
Largest movements
- Receivables within one year +€6,441
up €6,441 (+56.7%), from €11,352 to €17,793
- Cash -€2,892
down €2,892 (-10.4%), from €27,821 to €24,929
mainly Contributions, distributions and other (-€24,802) and Receivables within one year (-€6,441)
- Tangible fixed assets +€794
up €794 (+90.8%), from €875 to €1,669
of which Plant, machinery and equipment: +€852
- Reserves -€12,540
down €12,540 (-74.6%), from €16,802 to €4,262
- Contributions +€12,000
up €12,000 (+182%), from €6,600 to €18,600
- Other debts +€10,280
up €10,280 (+515%), from €1,998 to €12,277
- Tax, wage and social debts -€4,379
down €4,379 (-35.4%), from €12,358 to €7,979
- Trade debts -€916
down €916 (-32.3%), from €2,840 to €1,924
- Gross operating margin +€10,981
up €10,981 (+45.4%), from €24,184 to €35,165
- Taxes +€2,485
up €2,485 (+38.9%), from €6,382 to €8,867
- Financial charges +€782
up €782, from -€545 to €237
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 | €40,598 | €45,042 | +€4,444 | +10.9% |
| Fixed assets | 21/28 | €875 | €1,669 | +€794 | +90.8% |
| Tangible fixed assets | 22/27 | €875 | €1,669 | +€794 | +90.8% |
| Plant, machinery and equipment | 23 | €750 | €1,602 | +€852 | +113% |
| Furniture and vehicles | 24 | €124 | €67 | -€58 | -46.3% |
| Current assets | 29/58 | €39,723 | €43,374 | +€3,650 | +9.2% |
| Amounts receivable within one year | 40/41 | €11,352 | €17,793 | +€6,441 | +56.7% |
| Trade receivables | 40 | €11,352 | €17,793 | +€6,441 | +56.7% |
| Cash at bank and in hand | 54/58 | €27,821 | €24,929 | -€2,892 | -10.4% |
| Deferred charges and accrued income | 490/1 | €550 | €651 | +€101 | +18.4% |
| Total equity and liabilities | 10/49 | €40,598 | €45,042 | +€4,444 | +10.9% |
| Equity | 10/15 | €23,402 | €22,862 | -€540 | -2.3% |
| Contributions | 10/11 | €6,600 | €18,600 | +€12,000 | +182% |
| Reserves | 13 | €16,802 | €4,262 | -€12,540 | -74.6% |
| Distributable reserves | 133 | €16,802 | €4,262 | -€12,540 | -74.6% |
| Amounts payable | 17/49 | €17,196 | €22,180 | +€4,984 | +29.0% |
| Amounts payable within one year | 42/48 | €17,196 | €22,180 | +€4,984 | +29.0% |
| Trade debts | 44 | €2,840 | €1,924 | -€916 | -32.3% |
| Suppliers | 440/4 | €2,840 | €1,924 | -€916 | -32.3% |
| Taxes, remuneration and social security | 45 | €12,358 | €7,979 | -€4,379 | -35.4% |
| Taxes | 450/3 | €12,358 | €7,979 | -€4,379 | -35.4% |
| Other amounts payable | 47/48 | €1,998 | €12,277 | +€10,280 | +515% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €954 | €1,121 | +€167 | +17.5% |
| Other operating charges | 640/8 | €505 | €704 | +€199 | +39.3% |
| Gross operating margin | 9900 | €24,184 | €35,165 | +€10,981 | +45.4% |
| Operating profit (loss) | 9901 | €22,725 | €33,340 | +€10,615 | +46.7% |
| Financial income | 75/76B | €112 | €27 | -€85 | -76.0% |
| Recurring financial income | 75 | €112 | €27 | -€85 | -76.0% |
| Financial charges | 65/66B | -€545 | €237 | +€782 | |
| Recurring financial charges | 65 | -€545 | €237 | +€782 | |
| Profit (loss) for the period before taxes | 9903 | €23,382 | €33,129 | +€9,748 | +41.7% |
| Income taxes | 67/77 | €6,382 | €8,867 | +€2,485 | +38.9% |
| Profit (loss) for the period | 9904 | €17,000 | €24,262 | +€7,262 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,000 | €24,262 | +€7,262 | +42.7% |
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 25 October 2026 via checked.be.