JOYCE VAN CAEYZEELE: 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.
JOYCE VAN CAEYZEELE
Largest movements
- Cash +€197,956
up €197,956 (+488%), from €40,598 to €238,554
mainly Net result for the year (+€135,750) and Current investments (+€126,110)
- Current investments -€126,110
down €126,110 (-72.1%), from €175,000 to €48,890
- Financial fixed assets +€44,000
new in 2026: €44,000
- Reserves +€135,750
up €135,750 (+104%), from €131,011 to €266,761
- Other debts -€28,316
down €28,316 (-41.3%), from €68,565 to €40,250
- Tax, wage and social debts +€4,937
up €4,937 (+30.7%), from €16,062 to €21,000
- Trade debts +€4,742
up €4,742 (+109%), from €4,350 to €9,092
- Financial income +€90,405
up €90,405 (+59,788%), from €151 to €90,557
- Gross operating margin +€27,939
up €27,939 (+53.3%), from €52,429 to €80,367
- Taxes +€17,086
up €17,086 (+123%), from €13,878 to €30,964
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 | €232,399 | €349,503 | +€117,104 | +50.4% |
| Fixed assets | 21/28 | €6,340 | €48,685 | +€42,345 | +668% |
| Tangible fixed assets | 22/27 | €6,340 | €4,685 | -€1,655 | -26.1% |
| Furniture and vehicles | 24 | €6,340 | €4,685 | -€1,655 | -26.1% |
| Financial fixed assets | 28 | - | €44,000 | +€44,000 | |
| Current assets | 29/58 | €226,059 | €300,818 | +€74,759 | +33.1% |
| Amounts receivable within one year | 40/41 | €2,815 | €3,696 | +€881 | +31.3% |
| Trade receivables | 40 | €605 | €3,630 | +€3,025 | +500% |
| Other amounts receivable | 41 | €2,210 | €66 | -€2,144 | -97.0% |
| Current investments | 50/53 | €175,000 | €48,890 | -€126,110 | -72.1% |
| Cash at bank and in hand | 54/58 | €40,598 | €238,554 | +€197,956 | +488% |
| Deferred charges and accrued income | 490/1 | €7,645 | €9,678 | +€2,033 | +26.6% |
| Total equity and liabilities | 10/49 | €232,399 | €349,503 | +€117,104 | +50.4% |
| Equity | 10/15 | €143,411 | €279,161 | +€135,750 | +94.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €131,011 | €266,761 | +€135,750 | +104% |
| Distributable reserves | 133 | €131,011 | €266,761 | +€135,750 | +104% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,988 | €70,341 | -€18,646 | -21.0% |
| Amounts payable within one year | 42/48 | €88,988 | €70,341 | -€18,646 | -21.0% |
| Financial debts | 43 | €10 | €0 | -€10 | -100% |
| Credit institutions | 430/8 | €10 | €0 | -€10 | -100% |
| Trade debts | 44 | €4,350 | €9,092 | +€4,742 | +109% |
| Suppliers | 440/4 | €4,350 | €9,092 | +€4,742 | +109% |
| Taxes, remuneration and social security | 45 | €16,062 | €21,000 | +€4,937 | +30.7% |
| Taxes | 450/3 | €16,062 | €21,000 | +€4,937 | +30.7% |
| Other amounts payable | 47/48 | €68,565 | €40,250 | -€28,316 | -41.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,243 | €1,655 | +€412 | +33.2% |
| Other operating charges | 640/8 | €701 | €678 | -€23 | -3.2% |
| Gross operating margin | 9900 | €52,429 | €80,367 | +€27,939 | +53.3% |
| Operating profit (loss) | 9901 | €50,485 | €78,034 | +€27,549 | +54.6% |
| Financial income | 75/76B | €151 | €90,557 | +€90,405 | +59,788% |
| Recurring financial income | 75 | €151 | €90,557 | +€90,405 | +59,788% |
| Financial charges | 65/66B | €1,629 | €1,876 | +€247 | +15.2% |
| Recurring financial charges | 65 | €1,629 | €1,876 | +€247 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €49,007 | €166,714 | +€117,708 | +240% |
| Income taxes | 67/77 | €13,878 | €30,964 | +€17,086 | +123% |
| Profit (loss) for the period | 9904 | €35,128 | €135,750 | +€100,622 | +286% |
| Profit (loss) for the period to be appropriated | 9905 | €35,128 | €135,750 | +€100,622 | +286% |
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 26 October 2026 via checked.be.