JOERI CARON: 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.
JOERI CARON
Largest movements
- Tangible fixed assets -€60,097
down €60,097 (-44.5%), from €135,033 to €74,936
of which Furniture and vehicles: -€79,483
- Deferred charges and accrued income +€32,262
up €32,262 (+4,767%), from €677 to €32,939
- Cash +€14,564
up €14,564 (+58.8%), from €24,750 to €39,313
mainly Investment in fixed assets (net) (+€41,251) and Depreciation (+€15,844)
- Receivables within one year +€5,479
up €5,479 (+133%), from €4,110 to €9,589
of which Trade receivables: +€4,568
- Financial fixed assets +€3,003
new in 2026: €3,003
- Tax, wage and social debts -€11,074
down €11,074 (-76.2%), from €14,528 to €3,453
of which Remuneration and social security: -€7,360
- Other debts +€7,696
up €7,696 (+233%), from €3,298 to €10,993
- Debts after one year -€6,683
down €6,683 (-8.3%), from €80,674 to €73,992
- Reserves +€4,721
up €4,721 (+15.2%), from €31,139 to €35,860
- Gross operating margin -€14,954
down €14,954 (-29.9%), from €49,944 to €34,990
- Depreciation -€11,813
down €11,813 (-42.7%), from €27,656 to €15,844
- Taxes -€1,829
down €1,829 (-48.2%), from €3,791 to €1,962
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 | €164,569 | €159,779 | -€4,790 | -2.9% |
| Fixed assets | 21/28 | €135,033 | €77,938 | -€57,095 | -42.3% |
| Tangible fixed assets | 22/27 | €135,033 | €74,936 | -€60,097 | -44.5% |
| Plant, machinery and equipment | 23 | €1,771 | €21,157 | +€19,386 | +1,095% |
| Furniture and vehicles | 24 | €133,262 | €53,779 | -€79,483 | -59.6% |
| Financial fixed assets | 28 | - | €3,003 | +€3,003 | |
| Current assets | 29/58 | €29,536 | €81,841 | +€52,305 | +177% |
| Amounts receivable within one year | 40/41 | €4,110 | €9,589 | +€5,479 | +133% |
| Trade receivables | 40 | €4,090 | €8,659 | +€4,568 | +112% |
| Other amounts receivable | 41 | €19 | €930 | +€911 | +4,722% |
| Cash at bank and in hand | 54/58 | €24,750 | €39,313 | +€14,564 | +58.8% |
| Deferred charges and accrued income | 490/1 | €677 | €32,939 | +€32,262 | +4,767% |
| Total equity and liabilities | 10/49 | €164,569 | €159,779 | -€4,790 | -2.9% |
| Equity | 10/15 | €36,139 | €40,860 | +€4,721 | +13.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €31,139 | €35,860 | +€4,721 | +15.2% |
| Distributable reserves | 133 | €31,139 | €35,860 | +€4,721 | +15.2% |
| Amounts payable | 17/49 | €128,430 | €118,919 | -€9,511 | -7.4% |
| Amounts payable after more than one year | 17 | €80,674 | €73,992 | -€6,683 | -8.3% |
| Financial debts | 170/4 | €80,674 | €73,992 | -€6,683 | -8.3% |
| Amounts payable within one year | 42/48 | €47,658 | €44,927 | -€2,731 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €26,683 | €26,683 | = | 0.0% |
| Trade debts | 44 | €3,150 | €3,798 | +€648 | +20.6% |
| Suppliers | 440/4 | €3,150 | €3,798 | +€648 | +20.6% |
| Taxes, remuneration and social security | 45 | €14,528 | €3,453 | -€11,074 | -76.2% |
| Taxes | 450/3 | €5,335 | €1,621 | -€3,714 | -69.6% |
| Remuneration and social security | 454/9 | €9,192 | €1,833 | -€7,360 | -80.1% |
| Other amounts payable | 47/48 | €3,298 | €10,993 | +€7,696 | +233% |
| Accrued charges and deferred income | 492/3 | €98 | - | -€98 | |
| Non-recurring operating income | 76A | - | €3,378 | +€3,378 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,656 | €15,844 | -€11,813 | -42.7% |
| Other operating charges | 640/8 | €923 | €1,143 | +€220 | +23.8% |
| Non-recurring operating charges | 66A | - | €6,765 | +€6,765 | |
| Gross operating margin | 9900 | €49,944 | €34,990 | -€14,954 | -29.9% |
| Operating profit (loss) | 9901 | €21,365 | €11,239 | -€10,126 | -47.4% |
| Financial income | 75/76B | €2 | €4 | +€2 | +74.5% |
| Recurring financial income | 75 | €2 | €4 | +€2 | +74.5% |
| Financial charges | 65/66B | €4,856 | €4,560 | -€296 | -6.1% |
| Recurring financial charges | 65 | €4,856 | €4,560 | -€296 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €16,511 | €6,683 | -€9,829 | -59.5% |
| Income taxes | 67/77 | €3,791 | €1,962 | -€1,829 | -48.2% |
| Profit (loss) for the period | 9904 | €12,721 | €4,721 | -€8,000 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,721 | €4,721 | -€8,000 | -62.9% |
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 29 October 2026 via checked.be.