Liesbeth Sabbe: 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.
Liesbeth Sabbe
Largest movements
- Cash -€48,819
down €48,819 (-54.1%), from €90,177 to €41,359
mainly Contributions, distributions and other (-€121,304) and Deferred charges and accrued income (-€7,675)
- Deferred charges and accrued income +€7,675
up €7,675 (+41,940%), from €18 to €7,693
- Receivables within one year +€1,830
new in 2026: €1,830
of which Other amounts receivable: +€1,455
- Reserves -€85,753
down €85,753 (-100%), from €85,753 to €0
- Other debts +€47,915
up €47,915 (+2,024%), from €2,367 to €50,282
- Tax, wage and social debts -€2,275
down €2,275 (-100%), from €2,275 to €0
- Gross operating margin -€4,070
down €4,070 (-8.0%), from €51,055 to €46,985
- Taxes -€730
down €730 (-7.1%), from €10,275 to €9,545
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 | €93,747 | €53,506 | -€40,241 | -42.9% |
| Fixed assets | 21/28 | €3,551 | €2,625 | -€926 | -26.1% |
| Tangible fixed assets | 22/27 | €3,551 | €2,625 | -€926 | -26.1% |
| Plant, machinery and equipment | 23 | - | €683 | +€683 | |
| Furniture and vehicles | 24 | €3,551 | €1,941 | -€1,610 | -45.3% |
| Current assets | 29/58 | €90,196 | €50,881 | -€39,314 | -43.6% |
| Amounts receivable within one year | 40/41 | - | €1,830 | +€1,830 | |
| Trade receivables | 40 | - | €375 | +€375 | |
| Other amounts receivable | 41 | - | €1,455 | +€1,455 | |
| Cash at bank and in hand | 54/58 | €90,177 | €41,359 | -€48,819 | -54.1% |
| Deferred charges and accrued income | 490/1 | €18 | €7,693 | +€7,675 | +41,940% |
| Total equity and liabilities | 10/49 | €93,747 | €53,506 | -€40,241 | -42.9% |
| Equity | 10/15 | €88,753 | €3,000 | -€85,753 | -96.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €85,753 | €0 | -€85,753 | -100% |
| Distributable reserves | 133 | €85,753 | €0 | -€85,753 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,994 | €50,506 | +€45,512 | +911% |
| Amounts payable within one year | 42/48 | €4,994 | €50,506 | +€45,512 | +911% |
| Trade debts | 44 | €352 | €224 | -€127 | -36.2% |
| Suppliers | 440/4 | €352 | €224 | -€127 | -36.2% |
| Taxes, remuneration and social security | 45 | €2,275 | €0 | -€2,275 | -100% |
| Taxes | 450/3 | €2,275 | €0 | -€2,275 | -100% |
| Other amounts payable | 47/48 | €2,367 | €50,282 | +€47,915 | +2,024% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,409 | €1,726 | +€318 | +22.5% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €51,055 | €46,985 | -€4,070 | -8.0% |
| Operating profit (loss) | 9901 | €49,520 | €45,131 | -€4,389 | -8.9% |
| Financial income | 75/76B | €0 | €21 | +€21 | |
| Recurring financial income | 75 | €0 | €21 | +€21 | |
| Financial charges | 65/66B | €112 | €56 | -€56 | -49.8% |
| Recurring financial charges | 65 | €112 | €56 | -€56 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €49,409 | €45,096 | -€4,313 | -8.7% |
| Income taxes | 67/77 | €10,275 | €9,545 | -€730 | -7.1% |
| Profit (loss) for the period | 9904 | €39,133 | €35,551 | -€3,582 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €39,133 | €35,551 | -€3,582 | -9.2% |
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 22 October 2026 via checked.be.