JOEL FRANKA: 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.
JOEL FRANKA
Largest movements
- Tangible fixed assets -€15,289
down €15,289 (-8.6%), from €177,630 to €162,341
of which Land and buildings: -€14,809
- Provisions -€30,081
no longer reported in 2026 (was €30,081)
- Tax, wage and social debts +€29,651
up €29,651 (+447%), from €6,637 to €36,288
- Current portion of long-term debt -€12,358
no longer reported in 2026 (was €12,358)
- Reserves -€8,395
down €8,395 (-4.1%), from €204,619 to €196,224
of which Tax-exempt reserves: -€120,326
- Trade debts +€4,506
up €4,506 (+474%), from €951 to €5,456
- Gross operating margin +€117,950
up €117,950 (+257%), from €45,895 to €163,845
- Taxes +€27,482
up €27,482 (+1,140%), from €2,411 to €29,893
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 | €394,425 | €377,521 | -€16,904 | -4.3% |
| Fixed assets | 21/28 | €178,057 | €162,768 | -€15,289 | -8.6% |
| Tangible fixed assets | 22/27 | €177,630 | €162,341 | -€15,289 | -8.6% |
| Land and buildings | 22 | €176,562 | €161,753 | -€14,809 | -8.4% |
| Furniture and vehicles | 24 | €1,068 | €588 | -€480 | -45.0% |
| Financial fixed assets | 28 | €428 | €428 | = | 0.0% |
| Current assets | 29/58 | €216,368 | €214,753 | -€1,615 | -0.7% |
| Amounts receivable within one year | 40/41 | €101,173 | €97,446 | -€3,727 | -3.7% |
| Trade receivables | 40 | €69,966 | €77,916 | +€7,950 | +11.4% |
| Other amounts receivable | 41 | €31,207 | €19,530 | -€11,677 | -37.4% |
| Cash at bank and in hand | 54/58 | €115,194 | €116,800 | +€1,605 | +1.4% |
| Deferred charges and accrued income | 490/1 | - | €507 | +€507 | |
| Total equity and liabilities | 10/49 | €394,425 | €377,521 | -€16,904 | -4.3% |
| Equity | 10/15 | €344,398 | €335,347 | -€9,050 | -2.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €204,619 | €196,224 | -€8,395 | -4.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €120,326 | - | -€120,326 | |
| Distributable reserves | 133 | €82,434 | €194,364 | +€111,931 | +136% |
| Profit (loss) carried forward | 14 | €121,124 | €121,124 | = | 0.0% |
| Investment grants | 15 | €12,454 | €11,799 | -€655 | -5.3% |
| Provisions and deferred taxes | 16 | €30,081 | - | -€30,081 | |
| Deferred taxes | 168 | €30,081 | - | -€30,081 | |
| Amounts payable | 17/49 | €19,946 | €42,173 | +€22,227 | +111% |
| Amounts payable within one year | 42/48 | €19,946 | €42,173 | +€22,227 | +111% |
| Current portion of amounts payable after more than one year | 42 | €12,358 | - | -€12,358 | |
| Trade debts | 44 | €951 | €5,456 | +€4,506 | +474% |
| Suppliers | 440/4 | €951 | €5,456 | +€4,506 | +474% |
| Advances received on contracts in progress | 46 | - | €429 | +€429 | |
| Taxes, remuneration and social security | 45 | €6,637 | €36,288 | +€29,651 | +447% |
| Taxes | 450/3 | €6,637 | €36,288 | +€29,651 | +447% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,704 | €20,331 | +€627 | +3.2% |
| Other operating charges | 640/8 | €3,002 | €2,555 | -€447 | -14.9% |
| Gross operating margin | 9900 | €45,895 | €163,845 | +€117,950 | +257% |
| Operating profit (loss) | 9901 | €23,189 | €140,959 | +€117,771 | +508% |
| Financial income | 75/76B | €1,414 | €1,838 | +€424 | +30.0% |
| Recurring financial income | 75 | €1,414 | €1,838 | +€424 | +30.0% |
| Financial charges | 65/66B | €1,274 | €973 | -€300 | -23.6% |
| Recurring financial charges | 65 | €1,274 | €973 | -€300 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €23,329 | €141,824 | +€118,495 | +508% |
| Transfer from deferred taxes | 780 | €639 | - | -€639 | |
| Income taxes | 67/77 | €2,411 | €29,893 | +€27,482 | +1,140% |
| Profit (loss) for the period | 9904 | €21,556 | €111,931 | +€90,374 | +419% |
| Transfer from tax-exempt reserves | 789 | €2,555 | - | -€2,555 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,111 | €111,931 | +€87,820 | +364% |
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 19 October 2026 via checked.be.