INTROLUTION: 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.
INTROLUTION
Largest movements
- Cash -€594,334
down €594,334 (-72.6%), from €818,863 to €224,529
mainly Contributions, distributions and other (-€722,557) and Accrued charges and deferred income (-€118,265)
- Current investments +€58,010
up €58,010 (+5.7%), from €1.0m to €1.1m
- Receivables within one year -€31,988
down €31,988 (-8.7%), from €367,879 to €335,891
of which Other amounts receivable: -€40,187
- Reserves -€468,702
down €468,702 (-21.9%), from €2.1m to €1.7m
of which Distributable reserves: -€258,202
- Accrued charges and deferred income -€118,265
down €118,265 (-54.2%), from €218,061 to €99,796
- Tax, wage and social debts +€41,073
up €41,073 (+86.4%), from €47,525 to €88,598
of which Taxes: +€41,790
- Other debts -€29,264
down €29,264 (-100.0%), from €29,264 to €0
- Gross operating margin -€129,761
down €129,761 (-21.5%), from €602,342 to €472,581
- Taxes -€12,180
down €12,180 (-7.7%), from €158,044 to €145,864
- Staff costs -€6,510
down €6,510 (-6.3%), from €103,128 to €96,618
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 | €2,569,645 | €1,999,254 | -€570,391 | -22.2% |
| Fixed assets | 21/28 | €332,792 | €331,847 | -€945 | -0.3% |
| Tangible fixed assets | 22/27 | €6,002 | €5,008 | -€994 | -16.6% |
| Furniture and vehicles | 24 | €6,002 | €5,008 | -€994 | -16.6% |
| Financial fixed assets | 28 | €326,790 | €326,838 | +€48 | 0.0% |
| Current assets | 29/58 | €2,236,853 | €1,667,407 | -€569,446 | -25.5% |
| Amounts receivable within one year | 40/41 | €367,879 | €335,891 | -€31,988 | -8.7% |
| Trade receivables | 40 | €324,554 | €332,753 | +€8,199 | +2.5% |
| Other amounts receivable | 41 | €43,325 | €3,138 | -€40,187 | -92.8% |
| Current investments | 50/53 | €1,018,884 | €1,076,894 | +€58,010 | +5.7% |
| Cash at bank and in hand | 54/58 | €818,863 | €224,529 | -€594,334 | -72.6% |
| Deferred charges and accrued income | 490/1 | €31,227 | €30,093 | -€1,134 | -3.6% |
| Total equity and liabilities | 10/49 | €2,569,645 | €1,999,254 | -€570,391 | -22.2% |
| Equity | 10/15 | €2,163,006 | €1,694,305 | -€468,702 | -21.7% |
| Contributions | 10/11 | €14,900 | €14,900 | = | 0.0% |
| Reserves | 13 | €2,137,407 | €1,668,705 | -€468,702 | -21.9% |
| Tax-exempt reserves | 132 | €315,750 | €105,250 | -€210,500 | -66.7% |
| Distributable reserves | 133 | €1,821,657 | €1,563,455 | -€258,202 | -14.2% |
| Profit (loss) carried forward | 14 | €10,700 | €10,700 | = | 0.0% |
| Amounts payable | 17/49 | €406,639 | €304,949 | -€101,690 | -25.0% |
| Amounts payable within one year | 42/48 | €188,578 | €205,153 | +€16,575 | +8.8% |
| Trade debts | 44 | €111,789 | €116,556 | +€4,766 | +4.3% |
| Suppliers | 440/4 | €111,789 | €116,556 | +€4,766 | +4.3% |
| Taxes, remuneration and social security | 45 | €47,525 | €88,598 | +€41,073 | +86.4% |
| Taxes | 450/3 | €33,807 | €75,598 | +€41,790 | +123.6% |
| Remuneration and social security | 454/9 | €13,718 | €13,000 | -€718 | -5.2% |
| Other amounts payable | 47/48 | €29,264 | €0 | -€29,264 | -100.0% |
| Accrued charges and deferred income | 492/3 | €218,061 | €99,796 | -€118,265 | -54.2% |
| Remuneration, social security and pensions | 62 | €103,128 | €96,618 | -€6,510 | -6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,985 | €6,292 | -€2,694 | -30.0% |
| Other operating charges | 640/8 | €1,424 | €1,468 | +€44 | +3.1% |
| Gross operating margin | 9900 | €602,342 | €472,581 | -€129,761 | -21.5% |
| Operating profit (loss) | 9901 | €488,805 | €368,203 | -€120,602 | -24.7% |
| Financial income | 75/76B | €32,621 | €32,234 | -€386 | -1.2% |
| Recurring financial income | 75 | €32,621 | €32,234 | -€386 | -1.2% |
| Financial charges | 65/66B | €759 | €718 | -€41 | -5.4% |
| Recurring financial charges | 65 | €759 | €718 | -€41 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €520,667 | €399,720 | -€120,948 | -23.2% |
| Income taxes | 67/77 | €158,044 | €145,864 | -€12,180 | -7.7% |
| Profit (loss) for the period | 9904 | €362,623 | €253,855 | -€108,768 | -30.0% |
| Transfer from tax-exempt reserves | 789 | €71,200 | €210,500 | +€139,300 | +195.6% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €328,573 | €464,355 | +€135,782 | +41.3% |
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 11 October 2026 via checked.be.