N50: 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.
N50
Largest movements
- Receivables within one year -€252,786
down €252,786 (-90.5%), from €279,326 to €26,540
of which Trade receivables: -€246,109
- Current investments +€45,000
up €45,000 (+3.8%), from €1.2m to €1.2m
- Trade debts -€235,826
down €235,826 (-90.9%), from €259,410 to €23,584
- Reserves +€38,683
up €38,683 (+3.3%), from €1.2m to €1.2m
- Gross operating margin -€21,041
down €21,041 (-38.8%), from €54,279 to €33,238
- Financial income -€9,958
down €9,958 (-33.0%), from €30,186 to €20,228
- Taxes -€7,766
down €7,766 (-37.6%), from €20,661 to €12,894
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 | €1,473,484 | €1,266,766 | -€206,718 | -14.0% |
| Current assets | 29/58 | €1,473,484 | €1,266,766 | -€206,718 | -14.0% |
| Amounts receivable within one year | 40/41 | €279,326 | €26,540 | -€252,786 | -90.5% |
| Trade receivables | 40 | €269,326 | €23,217 | -€246,109 | -91.4% |
| Other amounts receivable | 41 | €10,000 | €3,323 | -€6,677 | -66.8% |
| Current investments | 50/53 | €1,190,000 | €1,235,000 | +€45,000 | +3.8% |
| Cash at bank and in hand | 54/58 | €3,809 | €4,899 | +€1,090 | +28.6% |
| Deferred charges and accrued income | 490/1 | €348 | €327 | -€22 | -6.2% |
| Total equity and liabilities | 10/49 | €1,473,484 | €1,266,766 | -€206,718 | -14.0% |
| Equity | 10/15 | €1,203,709 | €1,242,392 | +€38,683 | +3.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,178,709 | €1,217,392 | +€38,683 | +3.3% |
| Distributable reserves | 133 | €1,178,709 | €1,217,392 | +€38,683 | +3.3% |
| Amounts payable | 17/49 | €269,775 | €24,374 | -€245,401 | -91.0% |
| Amounts payable within one year | 42/48 | €269,237 | €23,584 | -€245,652 | -91.2% |
| Trade debts | 44 | €259,410 | €23,584 | -€235,826 | -90.9% |
| Suppliers | 440/4 | €259,410 | €23,584 | -€235,826 | -90.9% |
| Taxes, remuneration and social security | 45 | €9,827 | €0 | -€9,827 | -100% |
| Taxes | 450/3 | €9,827 | €0 | -€9,827 | -100% |
| Accrued charges and deferred income | 492/3 | €538 | €789 | +€252 | +46.8% |
| Other operating charges | 640/8 | €1,260 | €1,303 | +€43 | +3.4% |
| Gross operating margin | 9900 | €54,279 | €33,238 | -€21,041 | -38.8% |
| Operating profit (loss) | 9901 | €53,019 | €31,935 | -€21,084 | -39.8% |
| Financial income | 75/76B | €30,186 | €20,228 | -€9,958 | -33.0% |
| Recurring financial income | 75 | €30,186 | €20,228 | -€9,958 | -33.0% |
| Financial charges | 65/66B | €563 | €586 | +€23 | +4.2% |
| Recurring financial charges | 65 | €563 | €586 | +€23 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €82,642 | €51,577 | -€31,065 | -37.6% |
| Income taxes | 67/77 | €20,661 | €12,894 | -€7,766 | -37.6% |
| Profit (loss) for the period | 9904 | €61,982 | €38,683 | -€23,299 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,982 | €38,683 | -€23,299 | -37.6% |
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 15 October 2026 via checked.be.