LISE VOET: what changed
LISE VOET
Largest movements
- Tangible fixed assets +€113,437
up €113,437 (+28.5%), from €397,986 to €511,424
of which Land and buildings: +€119,020
- Cash -€97,286
down €97,286 (-46.7%), from €208,384 to €111,098
mainly Contributions, distributions and other (-€232,097) and Investment in fixed assets (net) (-€147,840)
- Receivables within one year +€57,489
up €57,489 (+113%), from €50,820 to €108,309
of which Trade receivables: +€57,489
- Other debts +€135,352
up €135,352 (+40.0%), from €338,301 to €473,653
- Reserves -€134,737
down €134,737 (-94.8%), from €142,097 to €7,360
- Debts after one year +€77,328
up €77,328 (+72.1%), from €107,218 to €184,546
- Current portion of long-term debt -€15,200
down €15,200 (-35.7%), from €42,540 to €27,340
- Tax, wage and social debts +€8,289
up €8,289 (+115%), from €7,237 to €15,526
- Other operating charges +€40,983
up €40,983 (+7,945%), from €516 to €41,498
- Depreciation +€8,212
up €8,212 (+31.4%), from €26,190 to €34,402
- Gross operating margin +€7,406
up €7,406 (+3.5%), from €211,174 to €218,579
- Financial charges +€7,066
up €7,066 (+170%), from €4,159 to €11,225
- Taxes -€4,118
down €4,118 (-10.8%), from €38,212 to €34,093
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 | €658,691 | €732,098 | +€73,407 | +11.1% |
| Fixed assets | 21/28 | €397,986 | €511,424 | +€113,437 | +28.5% |
| Tangible fixed assets | 22/27 | €397,986 | €511,424 | +€113,437 | +28.5% |
| Land and buildings | 22 | €352,928 | €471,949 | +€119,020 | +33.7% |
| Plant, machinery and equipment | 23 | €1,788 | €1,416 | -€372 | -20.8% |
| Furniture and vehicles | 24 | €43,270 | €38,059 | -€5,211 | -12.0% |
| Current assets | 29/58 | €260,705 | €220,674 | -€40,031 | -15.4% |
| Amounts receivable within one year | 40/41 | €50,820 | €108,309 | +€57,489 | +113% |
| Trade receivables | 40 | €50,820 | €108,309 | +€57,489 | +113% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €208,384 | €111,098 | -€97,286 | -46.7% |
| Deferred charges and accrued income | 490/1 | €1,501 | €1,267 | -€234 | -15.6% |
| Total equity and liabilities | 10/49 | €658,691 | €732,098 | +€73,407 | +11.1% |
| Equity | 10/15 | €160,697 | €25,960 | -€134,737 | -83.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,097 | €7,360 | -€134,737 | -94.8% |
| Distributable reserves | 133 | €142,097 | €7,360 | -€134,737 | -94.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €497,994 | €706,138 | +€208,143 | +41.8% |
| Amounts payable after more than one year | 17 | €107,218 | €184,546 | +€77,328 | +72.1% |
| Financial debts | 170/4 | €107,218 | €184,546 | +€77,328 | +72.1% |
| Amounts payable within one year | 42/48 | €390,646 | €521,458 | +€130,812 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €42,540 | €27,340 | -€15,200 | -35.7% |
| Trade debts | 44 | €2,568 | €4,938 | +€2,370 | +92.3% |
| Suppliers | 440/4 | €2,568 | €4,938 | +€2,370 | +92.3% |
| Taxes, remuneration and social security | 45 | €7,237 | €15,526 | +€8,289 | +115% |
| Taxes | 450/3 | €7,237 | €15,526 | +€8,289 | +115% |
| Other amounts payable | 47/48 | €338,301 | €473,653 | +€135,352 | +40.0% |
| Accrued charges and deferred income | 492/3 | €130 | €133 | +€3 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,190 | €34,402 | +€8,212 | +31.4% |
| Other operating charges | 640/8 | €516 | €41,498 | +€40,983 | +7,945% |
| Gross operating margin | 9900 | €211,174 | €218,579 | +€7,406 | +3.5% |
| Operating profit (loss) | 9901 | €184,468 | €142,679 | -€41,789 | -22.7% |
| Financial charges | 65/66B | €4,159 | €11,225 | +€7,066 | +170% |
| Recurring financial charges | 65 | €4,159 | €11,225 | +€7,066 | +170% |
| Profit (loss) for the period before taxes | 9903 | €180,308 | €131,454 | -€48,855 | -27.1% |
| Income taxes | 67/77 | €38,212 | €34,093 | -€4,118 | -10.8% |
| Profit (loss) for the period | 9904 | €142,097 | €97,360 | -€44,737 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €142,097 | €97,360 | -€44,737 | -31.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.