P and B: 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.
P and B
Largest movements
- Financial fixed assets +€1.7m
up €1.7m (+18.0%), from €9.5m to €11.3m
- Receivables within one year +€735,081
up €735,081 (+399%), from €184,427 to €919,508
of which Other amounts receivable: +€789,531
- Current investments +€250,000
up €250,000 (+33.3%), from €750,000 to €1.0m
- Other debts -€6.1m
down €6.1m (-99.7%), from €6.1m to €18,686
- Reserves +€5.6m
up €5.6m (+162%), from €3.5m to €9.1m
of which Distributable reserves: +€5.4m
- Contributions +€3.3m
up €3.3m (+327%), from €1.0m to €4.3m
- Debts after one year -€245,491
down €245,491 (-21.8%), from €1.1m to €882,461
- Tax, wage and social debts +€191,676
up €191,676 (+2,218%), from €8,642 to €200,319
- Financial income +€6.0m
up €6.0m (+51,744%), from €11,573 to €6.0m
of which Financial income: +€3.7m
- Taxes +€199,917
up €199,917 (+58,666%), from €341 to €200,258
- Depreciation +€27,923
up €27,923 (+48.8%), from €57,177 to €85,100
- Financial charges -€14,563
down €14,563 (-28.0%), from €51,936 to €37,373
- Other operating charges +€7,619
up €7,619 (+275%), from €2,775 to €10,394
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 | €12,641,805 | €15,417,230 | +€2.8m | +22.0% |
| Fixed assets | 21/28 | €11,644,290 | €13,311,638 | +€1.7m | +14.3% |
| Tangible fixed assets | 22/27 | €2,099,103 | €2,049,690 | -€49,413 | -2.4% |
| Land and buildings | 22 | €2,034,597 | €1,962,754 | -€71,843 | -3.5% |
| Furniture and vehicles | 24 | €64,506 | €86,936 | +€22,430 | +34.8% |
| Financial fixed assets | 28 | €9,545,187 | €11,261,947 | +€1.7m | +18.0% |
| Current assets | 29/58 | €997,515 | €2,105,592 | +€1.1m | +111% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €184,427 | €919,508 | +€735,081 | +399% |
| Trade receivables | 40 | €54,450 | €0 | -€54,450 | -100% |
| Other amounts receivable | 41 | €129,977 | €919,508 | +€789,531 | +607% |
| Current investments | 50/53 | €750,000 | €1,000,000 | +€250,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €60,480 | €182,621 | +€122,140 | +202% |
| Deferred charges and accrued income | 490/1 | €2,608 | €3,464 | +€856 | +32.8% |
| Total equity and liabilities | 10/49 | €12,641,805 | €15,417,230 | +€2.8m | +22.0% |
| Equity | 10/15 | €5,099,410 | €14,049,171 | +€8.9m | +176% |
| Contributions | 10/11 | €1,007,000 | €4,300,000 | +€3.3m | +327% |
| Capital | 10 | €1,007,000 | €4,300,000 | +€3.3m | +327% |
| Issued capital | 100 | €1,007,000 | €4,300,000 | +€3.3m | +327% |
| Revaluation surpluses | 12 | €616,545 | €616,545 | = | 0.0% |
| Reserves | 13 | €3,473,436 | €9,110,000 | +€5.6m | +162% |
| Non-distributable reserves | 130/1 | €100,700 | €385,000 | +€284,300 | +282% |
| Legal reserve | 130 | €100,700 | €385,000 | +€284,300 | +282% |
| Distributable reserves | 133 | €3,372,736 | €8,725,000 | +€5.4m | +159% |
| Profit (loss) carried forward | 14 | €2,429 | €22,626 | +€20,197 | +832% |
| Amounts payable | 17/49 | €7,542,395 | €1,368,059 | -€6.2m | -81.9% |
| Amounts payable after more than one year | 17 | €1,127,951 | €882,461 | -€245,491 | -21.8% |
| Financial debts | 170/4 | €1,127,951 | €882,461 | -€245,491 | -21.8% |
| Amounts payable within one year | 42/48 | €6,398,298 | €477,899 | -€5.9m | -92.5% |
| Current portion of amounts payable after more than one year | 42 | €250,654 | €245,491 | -€5,163 | -2.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,632 | €13,403 | +€11,772 | +722% |
| Suppliers | 440/4 | €1,632 | €13,403 | +€11,772 | +722% |
| Taxes, remuneration and social security | 45 | €8,642 | €200,319 | +€191,676 | +2,218% |
| Taxes | 450/3 | €8,642 | €200,319 | +€191,676 | +2,218% |
| Other amounts payable | 47/48 | €6,137,370 | €18,686 | -€6.1m | -99.7% |
| Accrued charges and deferred income | 492/3 | €16,145 | €7,700 | -€8,445 | -52.3% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,177 | €85,100 | +€27,923 | +48.8% |
| Other operating charges | 640/8 | €2,775 | €10,394 | +€7,619 | +275% |
| Gross operating margin | 9900 | €14,041 | €9,923 | -€4,118 | -29.3% |
| Operating profit (loss) | 9901 | -€45,911 | -€85,570 | -€39,660 | -86.4% |
| Financial income | 75/76B | €11,573 | €6,000,129 | +€6.0m | +51,744% |
| Recurring financial income | 75 | €11,573 | €3,754,862 | +€3.7m | +32,344% |
| Non-recurring financial income | 76B | - | €2,245,267 | +€2.2m | |
| Financial charges | 65/66B | €51,936 | €37,373 | -€14,563 | -28.0% |
| Recurring financial charges | 65 | €51,936 | €37,373 | -€14,563 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | -€86,274 | €5,877,186 | +€6.0m | |
| Income taxes | 67/77 | €341 | €200,258 | +€199,917 | +58,666% |
| Profit (loss) for the period | 9904 | -€86,614 | €5,676,928 | +€5.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,614 | €5,676,928 | +€5.8m |
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 30 October 2026 via checked.be.