INICIO: 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.
INICIO
Largest movements
- Receivables within one year -€157,213
down €157,213 (-4.9%), from €3.2m to €3.1m
of which Other amounts receivable: -€186,197
- Other debts -€160,267
down €160,267 (-3.9%), from €4.1m to €4.0m
- Gross operating margin -€1,234
down €1,234 (-14.2%), from €8,672 to €7,438
- Financial charges -€896
down €896 (-12.2%), from €7,336 to €6,439
- Other operating charges -€394
down €394 (-37.3%), from €1,054 to €660
- Taxes +€299
new in 2026: €299
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 | €4,231,556 | €4,065,925 | -€165,631 | -3.9% |
| Fixed assets | 21/28 | €990,100 | €990,100 | = | 0.0% |
| Financial fixed assets | 28 | €990,100 | €990,100 | = | 0.0% |
| Current assets | 29/58 | €3,241,456 | €3,075,825 | -€165,631 | -5.1% |
| Amounts receivable within one year | 40/41 | €3,232,638 | €3,075,425 | -€157,213 | -4.9% |
| Trade receivables | 40 | €56 | €29,040 | +€28,984 | +52,074% |
| Other amounts receivable | 41 | €3,232,582 | €3,046,385 | -€186,197 | -5.8% |
| Cash at bank and in hand | 54/58 | €8,818 | €400 | -€8,418 | -95.5% |
| Total equity and liabilities | 10/49 | €4,231,556 | €4,065,925 | -€165,631 | -3.9% |
| Equity | 10/15 | €27,950 | €27,989 | +€39 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,582 | €3,582 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,722 | €1,722 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,768 | €5,807 | +€39 | +0.7% |
| Amounts payable | 17/49 | €4,203,606 | €4,037,936 | -€165,670 | -3.9% |
| Amounts payable within one year | 42/48 | €4,203,606 | €4,037,936 | -€165,670 | -3.9% |
| Financial debts | 43 | €75,000 | €75,427 | +€427 | +0.6% |
| Credit institutions | 430/8 | €75,000 | €75,427 | +€427 | +0.6% |
| Trade debts | 44 | - | €5,594 | +€5,594 | |
| Suppliers | 440/4 | - | €5,594 | +€5,594 | |
| Taxes, remuneration and social security | 45 | €15,365 | €3,942 | -€11,423 | -74.3% |
| Taxes | 450/3 | €15,365 | €3,942 | -€11,423 | -74.3% |
| Other amounts payable | 47/48 | €4,113,241 | €3,952,973 | -€160,267 | -3.9% |
| Other operating charges | 640/8 | €1,054 | €660 | -€394 | -37.3% |
| Gross operating margin | 9900 | €8,672 | €7,438 | -€1,234 | -14.2% |
| Operating profit (loss) | 9901 | €7,618 | €6,777 | -€840 | -11.0% |
| Financial charges | 65/66B | €7,336 | €6,439 | -€896 | -12.2% |
| Recurring financial charges | 65 | €7,336 | €6,439 | -€896 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €282 | €338 | +€56 | +19.9% |
| Income taxes | 67/77 | - | €299 | +€299 | |
| Profit (loss) for the period | 9904 | €282 | €39 | -€243 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €282 | €39 | -€243 | -86.2% |
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 15 October 2026 via checked.be.