LA DIFFERENZA: what changed
Two fiscal 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.
LA DIFFERENZA
Largest movements
- Current investments +€50,000
new in 2026: €50,000
- Cash -€26,791
down €26,791 (-36.9%), from €72,627 to €45,836
mainly Current investments (-€50,000) and Receivables within one year (-€14,181)
- Receivables within one year +€14,181
up €14,181 (+45.2%), from €31,369 to €45,550
of which Trade receivables: +€13,856
- Tangible fixed assets -€1,644
down €1,644 (-8.0%), from €20,571 to €18,926
- Other debts +€32,815
up €32,815 (+188.6%), from €17,400 to €50,215
- Trade debts -€11,370
down €11,370 (-43.7%), from €25,994 to €14,624
- Profit (loss) carried forward +€7,556
up €7,556 (+7.4%), from -€101,988 to -€94,433
- Tax, wage and social debts +€6,654
up €6,654 (+177.9%), from €3,740 to €10,395
- Gross operating margin +€39,405
up €39,405, from -€13,643 to €25,762
- Financial charges -€616
down €616 (-45.6%), from €1,351 to €735
of which Financial charges: -€472
- Financial income -€421
down €421 (-91.5%), from €461 to €39
of which Financial income: -€421
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 | €125,035 | €160,691 | +€35,655 | +28.5% |
| Fixed assets | 21/28 | €20,771 | €19,126 | -€1,644 | -7.9% |
| Tangible fixed assets | 22/27 | €20,571 | €18,926 | -€1,644 | -8.0% |
| Land and buildings | 22 | €20,571 | €18,926 | -€1,644 | -8.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €104,265 | €141,564 | +€37,300 | +35.8% |
| Amounts receivable within one year | 40/41 | €31,369 | €45,550 | +€14,181 | +45.2% |
| Trade receivables | 40 | €20,483 | €34,339 | +€13,856 | +67.6% |
| Other amounts receivable | 41 | €10,886 | €11,211 | +€325 | +3.0% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €72,627 | €45,836 | -€26,791 | -36.9% |
| Deferred charges and accrued income | 490/1 | €269 | €178 | -€91 | -33.7% |
| Total equity and liabilities | 10/49 | €125,035 | €160,691 | +€35,655 | +28.5% |
| Equity | 10/15 | €77,901 | €85,456 | +€7,556 | +9.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €79,889 | €79,889 | = | 0.0% |
| Distributable reserves | 133 | €79,889 | €79,889 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,988 | -€94,433 | +€7,556 | +7.4% |
| Amounts payable | 17/49 | €47,135 | €75,234 | +€28,100 | +59.6% |
| Amounts payable within one year | 42/48 | €47,135 | €75,234 | +€28,100 | +59.6% |
| Trade debts | 44 | €25,994 | €14,624 | -€11,370 | -43.7% |
| Suppliers | 440/4 | €25,994 | €14,624 | -€11,370 | -43.7% |
| Taxes, remuneration and social security | 45 | €3,740 | €10,395 | +€6,654 | +177.9% |
| Taxes | 450/3 | €3,740 | €10,395 | +€6,654 | +177.9% |
| Other amounts payable | 47/48 | €17,400 | €50,215 | +€32,815 | +188.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,644 | €1,644 | = | 0.0% |
| Other operating charges | 640/8 | €15,556 | €15,713 | +€157 | +1.0% |
| Gross operating margin | 9900 | -€13,643 | €25,762 | +€39,405 | |
| Operating profit (loss) | 9901 | -€30,844 | €8,404 | +€39,248 | |
| Financial income | 75/76B | €461 | €39 | -€421 | -91.5% |
| Recurring financial income | 75 | €461 | €39 | -€421 | -91.5% |
| Non-recurring financial income | 76B | €461 | €39 | -€421 | -91.5% |
| Financial charges | 65/66B | €1,351 | €735 | -€616 | -45.6% |
| Recurring financial charges | 65 | €1,126 | €653 | -€472 | -42.0% |
| Non-recurring financial charges | 66B | €226 | €82 | -€144 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,734 | €7,709 | +€39,443 | |
| Income taxes | 67/77 | €151 | €153 | +€2 | +1.3% |
| Profit (loss) for the period | 9904 | -€31,885 | €7,556 | +€39,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,885 | €7,556 | +€39,441 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.