L'AN DEUX: what changed
L'AN DEUX
Largest movements
- Receivables within one year -€150,880
down €150,880 (-85.4%), from €176,644 to €25,765
of which Trade receivables: -€130,064
- Cash -€30,116
down €30,116 (-27.1%), from €111,061 to €80,945
mainly Trade debts (-€136,693) and Debts after one year (-€41,500)
- Stocks and contracts +€15,888
up €15,888 (+3.2%), from €497,121 to €513,009
- Intangible fixed assets +€8,526
new in 2026: €8,526
- Trade debts -€136,693
down €136,693 (-78.6%), from €173,815 to €37,122
- Profit (loss) carried forward +€50,281
up €50,281 (+15.7%), from €320,932 to €371,213
- Debts after one year -€41,500
down €41,500 (-23.5%), from €176,500 to €135,000
- Tax, wage and social debts -€20,500
down €20,500 (-36.6%), from €56,016 to €35,516
of which Remuneration and social security: -€11,432
- Gross operating margin +€23,623
up €23,623 (+20.1%), from €117,311 to €140,934
- Staff costs -€5,546
down €5,546 (-7.6%), from €73,192 to €67,646
- Taxes +€4,820
up €4,820 (+28.8%), from €16,745 to €21,565
- Other operating charges -€2,394
down €2,394 (-67.1%), from €3,568 to €1,174
- Financial charges -€1,932
down €1,932 (-37.8%), from €5,118 to €3,186
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €785,610 | €631,104 | -€154,506 | -19.7% |
| Fixed assets | 21/28 | €756 | €9,283 | +€8,526 | +1,127% |
| Intangible fixed assets | 21 | - | €8,526 | +€8,526 | |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €756 | €756 | = | 0.0% |
| Current assets | 29/58 | €784,854 | €621,821 | -€163,033 | -20.8% |
| Stocks and contracts in progress | 3 | €497,121 | €513,009 | +€15,888 | +3.2% |
| Stocks | 30/36 | €497,121 | €513,009 | +€15,888 | +3.2% |
| Amounts receivable within one year | 40/41 | €176,644 | €25,765 | -€150,880 | -85.4% |
| Trade receivables | 40 | €151,696 | €21,631 | -€130,064 | -85.7% |
| Other amounts receivable | 41 | €24,949 | €4,133 | -€20,815 | -83.4% |
| Cash at bank and in hand | 54/58 | €111,061 | €80,945 | -€30,116 | -27.1% |
| Deferred charges and accrued income | 490/1 | €28 | €2,103 | +€2,075 | +7,505% |
| Total equity and liabilities | 10/49 | €785,610 | €631,104 | -€154,506 | -19.7% |
| Equity | 10/15 | €360,791 | €411,072 | +€50,281 | +13.9% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €320,932 | €371,213 | +€50,281 | +15.7% |
| Amounts payable | 17/49 | €424,819 | €220,032 | -€204,787 | -48.2% |
| Amounts payable after more than one year | 17 | €176,500 | €135,000 | -€41,500 | -23.5% |
| Financial debts | 170/4 | €176,500 | €135,000 | -€41,500 | -23.5% |
| Amounts payable within one year | 42/48 | €248,145 | €85,032 | -€163,113 | -65.7% |
| Financial debts | 43 | €7,675 | €0 | -€7,675 | -100% |
| Credit institutions | 430/8 | €7,675 | €0 | -€7,675 | -100% |
| Trade debts | 44 | €173,815 | €37,122 | -€136,693 | -78.6% |
| Suppliers | 440/4 | €173,815 | €37,122 | -€136,693 | -78.6% |
| Taxes, remuneration and social security | 45 | €56,016 | €35,516 | -€20,500 | -36.6% |
| Taxes | 450/3 | €35,910 | €26,841 | -€9,068 | -25.3% |
| Remuneration and social security | 454/9 | €20,107 | €8,675 | -€11,432 | -56.9% |
| Other amounts payable | 47/48 | €10,640 | €12,394 | +€1,754 | +16.5% |
| Accrued charges and deferred income | 492/3 | €174 | €0 | -€174 | -100% |
| Remuneration, social security and pensions | 62 | €73,192 | €67,646 | -€5,546 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €594 | +€594 | |
| Other operating charges | 640/8 | €3,568 | €1,174 | -€2,394 | -67.1% |
| Gross operating margin | 9900 | €117,311 | €140,934 | +€23,623 | +20.1% |
| Operating profit (loss) | 9901 | €40,552 | €71,520 | +€30,969 | +76.4% |
| Financial income | 75/76B | €5,057 | €3,511 | -€1,547 | -30.6% |
| Recurring financial income | 75 | €5,057 | €3,511 | -€1,547 | -30.6% |
| Financial charges | 65/66B | €5,118 | €3,186 | -€1,932 | -37.8% |
| Recurring financial charges | 65 | €5,118 | €3,186 | -€1,932 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €40,491 | €71,846 | +€31,355 | +77.4% |
| Income taxes | 67/77 | €16,745 | €21,565 | +€4,820 | +28.8% |
| Profit (loss) for the period | 9904 | €23,746 | €50,281 | +€26,535 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €23,746 | €50,281 | +€26,535 | +112% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.