PASCALE ALEXANDRE: 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.
PASCALE ALEXANDRE
Largest movements
- Cash -€235,832
down €235,832 (-67.8%), from €347,776 to €111,945
mainly Contributions, distributions and other (-€120,879) and Receivables within one year (-€103,896)
- Receivables within one year +€103,896
up €103,896 (+5734.6%), from €1,812 to €105,707
- Current investments +€99,505
new in 2026: €99,505
- Tangible fixed assets -€7,297
down €7,297 (-11.6%), from €62,694 to €55,397
- Reserves -€60,400
down €60,400 (-20.6%), from €292,716 to €232,316
- Other debts +€30,839
up €30,839 (+34.3%), from €90,039 to €120,879
- Tax, wage and social debts -€5,580
down €5,580 (-41.6%), from €13,401 to €7,822
- Trade debts -€4,266
down €4,266 (-72.9%), from €5,852 to €1,586
- Gross operating margin -€15,671
down €15,671 (-15.0%), from €104,591 to €88,920
- Taxes -€3,509
down €3,509 (-13.3%), from €26,470 to €22,962
- Financial income +€1,583
up €1,583 (+54.1%), from €2,923 to €4,506
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.
Cash bridge derived
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 | €421,361 | €381,983 | -€39,379 | -9.3% |
| Fixed assets | 21/28 | €62,694 | €55,397 | -€7,297 | -11.6% |
| Tangible fixed assets | 22/27 | €62,694 | €55,397 | -€7,297 | -11.6% |
| Land and buildings | 22 | €51,140 | €48,040 | -€3,100 | -6.1% |
| Plant, machinery and equipment | 23 | €7,610 | €4,346 | -€3,264 | -42.9% |
| Furniture and vehicles | 24 | €3,944 | €3,011 | -€933 | -23.6% |
| Current assets | 29/58 | €358,668 | €326,585 | -€32,082 | -8.9% |
| Amounts receivable within one year | 40/41 | €1,812 | €105,707 | +€103,896 | +5734.6% |
| Other amounts receivable | 41 | €1,812 | €105,707 | +€103,896 | +5734.6% |
| Current investments | 50/53 | - | €99,505 | +€99,505 | |
| Cash at bank and in hand | 54/58 | €347,776 | €111,945 | -€235,832 | -67.8% |
| Deferred charges and accrued income | 490/1 | €9,079 | €9,428 | +€349 | +3.8% |
| Total equity and liabilities | 10/49 | €421,361 | €381,983 | -€39,379 | -9.3% |
| Equity | 10/15 | €311,316 | €250,916 | -€60,400 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €292,716 | €232,316 | -€60,400 | -20.6% |
| Distributable reserves | 133 | €292,716 | €232,316 | -€60,400 | -20.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €110,045 | €131,066 | +€21,021 | +19.1% |
| Amounts payable within one year | 42/48 | €109,293 | €130,287 | +€20,994 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,852 | €1,586 | -€4,266 | -72.9% |
| Suppliers | 440/4 | €5,852 | €1,586 | -€4,266 | -72.9% |
| Taxes, remuneration and social security | 45 | €13,401 | €7,822 | -€5,580 | -41.6% |
| Taxes | 450/3 | €13,401 | €7,822 | -€5,580 | -41.6% |
| Other amounts payable | 47/48 | €90,039 | €120,879 | +€30,839 | +34.3% |
| Accrued charges and deferred income | 492/3 | €752 | €780 | +€28 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,403 | €7,297 | -€106 | -1.4% |
| Other operating charges | 640/8 | €1,740 | €1,847 | +€107 | +6.2% |
| Gross operating margin | 9900 | €104,591 | €88,920 | -€15,671 | -15.0% |
| Operating profit (loss) | 9901 | €95,448 | €79,776 | -€15,672 | -16.4% |
| Financial income | 75/76B | €2,923 | €4,506 | +€1,583 | +54.1% |
| Recurring financial income | 75 | €2,923 | €4,506 | +€1,583 | +54.1% |
| Financial charges | 65/66B | €394 | €842 | +€448 | +113.7% |
| Recurring financial charges | 65 | €394 | €842 | +€448 | +113.7% |
| Profit (loss) for the period before taxes | 9903 | €97,977 | €83,440 | -€14,537 | -14.8% |
| Income taxes | 67/77 | €26,470 | €22,962 | -€3,509 | -13.3% |
| Profit (loss) for the period | 9904 | €71,507 | €60,479 | -€11,028 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,507 | €60,479 | -€11,028 | -15.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.