M. CLERCQ: 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.
M. CLERCQ
Largest movements
- Receivables within one year -€2,288
down €2,288 (-98.6%), from €2,321 to €33
- Tangible fixed assets -€796
no longer reported in 2026 (was €796)
- Trade debts -€3,490
down €3,490 (-98.9%), from €3,530 to €40
- Other debts +€2,339
up €2,339 (+5,806%), from €40 to €2,379
- Profit (loss) carried forward -€2,238
down €2,238 (-10.1%), from -€22,259 to -€24,498
- Short-term financial debts +€306
up €306 (+22.6%), from €1,355 to €1,661
- Gross operating margin -€1,733
down €1,733, from €1,066 to -€666
- Depreciation -€829
down €829 (-51.0%), from €1,624 to €796
- Other operating charges +€100
new in 2026: €100
- Financial charges -€66
down €66 (-8.7%), from €757 to €691
- Financial income +€15
new in 2026: €15
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,117 | €33 | -€3,083 | -98.9% |
| Fixed assets | 21/28 | €796 | - | -€796 | |
| Tangible fixed assets | 22/27 | €796 | - | -€796 | |
| Plant, machinery and equipment | 23 | €796 | - | -€796 | |
| Current assets | 29/58 | €2,321 | €33 | -€2,288 | -98.6% |
| Amounts receivable within one year | 40/41 | €2,321 | €33 | -€2,288 | -98.6% |
| Trade receivables | 40 | €2,321 | €33 | -€2,288 | -98.6% |
| Total equity and liabilities | 10/49 | €3,117 | €33 | -€3,083 | -98.9% |
| Equity | 10/15 | -€1,809 | -€4,047 | -€2,238 | -124% |
| Contributions | 10/11 | €18,591 | €18,591 | = | 0.0% |
| Capital | 10 | €18,591 | €18,591 | = | 0.0% |
| Issued capital | 100 | €18,591 | €18,591 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,259 | -€24,498 | -€2,238 | -10.1% |
| Amounts payable | 17/49 | €4,926 | €4,080 | -€845 | -17.2% |
| Amounts payable within one year | 42/48 | €4,926 | €4,080 | -€845 | -17.2% |
| Financial debts | 43 | €1,355 | €1,661 | +€306 | +22.6% |
| Credit institutions | 430/8 | €1,355 | €1,661 | +€306 | +22.6% |
| Trade debts | 44 | €3,530 | €40 | -€3,490 | -98.9% |
| Suppliers | 440/4 | €3,530 | €40 | -€3,490 | -98.9% |
| Other amounts payable | 47/48 | €40 | €2,379 | +€2,339 | +5,806% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,624 | €796 | -€829 | -51.0% |
| Other operating charges | 640/8 | - | €100 | +€100 | |
| Gross operating margin | 9900 | €1,066 | -€666 | -€1,733 | |
| Operating profit (loss) | 9901 | -€558 | -€1,562 | -€1,004 | -180% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €757 | €691 | -€66 | -8.7% |
| Recurring financial charges | 65 | €757 | €691 | -€66 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,315 | -€2,238 | -€923 | -70.2% |
| Profit (loss) for the period | 9904 | -€1,315 | -€2,238 | -€923 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,315 | -€2,238 | -€923 | -70.2% |
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 16 October 2026 via checked.be.